ORGAN ON A CHIP MARKET ANALYSIS

Regional Analysis

Organ-on-a-chip Market - Regional Analysis

North America and Europe are expected to dominate the overall organ-on-a-chip market throughout the forecast period. The regions are early adopters of newly developed technology. Moreover, demand is expected to be further propelled by large consumer base in these regions. North America spends over 16% of its GDP on healthcare. Moreover, various research activities are carried out in the region, which is home to some of the leading players in the market. Also, organ transplant rate is high in the region. Growth of the Europe market is expected to be primarily driven by rising demand for organ-on-chip in Germany, U.K., and France.

Asia Pacific is a lucrative market for companies engaged in organ-on-a-chip industry. However, commercialization is not expected to take place in early years. As market is still in its early stage, it would take a few years before companies can expect return on profit. Japan and China are key markets in Asia Pacific. These countries account for over half of the pharmaceutical market in Asia Pacific. Also, these countries are well equipped with technologically advanced medical devices and research centers.