The research report includes a separate chapter for qualitative analysis. We have followed a descriptive approach while compiling the chapter. The macro and micro economic factors define the share and growth of market. These factors have been carefully understood through secondary and primary sources. All such factors have been explained under headings namely growth driving factors, growth restraining factors, market and technology trends and so on. Depending on the contribution and the growth potential, five countries were chosen for PESTEL analysis and the same has been described in the report.
Growing demand for organs-on-chips for drug development and screening to reduce monetary losses associated with drug failures is a significant factor driving global organs-on-chips market growth
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The global organs-on-chips market size is expected to reach USD 209.4 Million at a steady CAGR of 28.1% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to growing demand for organs-on-chips for drug development and screening to reduce monetary losses associated with drug failures.
Key players in the market include MIMETAS BV, SynVivo Inc., Emulate Inc., InSphero AG, CN Bio, Nortis Inc., Organovo Holdings Inc., TissUse GmbH, AxoSim Inc., and Kirkstall Ltd.
Emergen Research has segmented the global organs-on-chips market on the basis of type, application, end-use, and region:
· Type Outlook (Revenue, USD Million; 2018–2028)
o Multiple Organs-on-Chips
· Application Outlook (Revenue, USD Million; 2018–2028)
o Drug Discovery
o Physiological Model Development
o Toxicology Research
· End-Use Outlook (Revenue, USD Million; 2018–2028)
o Pharmaceutical Firms
o Research Institutes
o Personal Care Industry