South Korea Organ-on-Chip Market (2024-2029)

RESEARCH METHODOLOGY

This study involved four major activities in estimating the historic, current and forecasted size of the organ-on-chip market. Exhaustive secondary research was carried out to collect information on the market, and its peer markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Top-down approach was employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments.

Secondary Research

The secondary sources referred to for this research study include publications from public sources, such as the National Institutes of Health (NIH), United States Food and Drug Administration (US FDA), National Center for Biotechnology Information (NCBI), ScienceDirect, European Medicines Agency (EMA), company websites among others. Secondary sources also include business magazines and research journals; press releases; and trade, business, and professional associations. Secondary data was collected and analyzed to arrive at the overall size of the global organ-on-chip market, which was validated through primary research.

Primary Research

In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess prospects of the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

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Market Size Estimation

Top-down approach was used to estimate and validate the total size of the organ-on-chip market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

• The key players in the industry and market have been identified through extensive secondary and primary research
• The revenues generated from the organ-on-chip business of leading players have been determined through primary research and paid secondary sources
• All percentage shares, splits, and breakdowns have been determined using internal analysis of product and service offerings, secondary sources, and verified from industry experts

Global Organ-on-chip Market Size: Top Down Approach

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Data Triangulation

After arriving at the overall market size from the market size estimation process, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Market Definition

Organ-on-a-chip is a system that has natural miniature tissues grown inside microfluidic chips. It is a 3D microfluidic cell culture platform which mimics the mechanics, functions, and physiological responses of a respective organ. This platform is created with microfabrication techniques which creates hollow microchannel lined by living cells and tissues cultured within an organ-relevant physical context, which are continuously perfused with life-sustaining culture medium. According to the US FDA, the organ-chips are designed to accurately recreate the natural physiology and mechanical forces that cells experience in the human body. According to Wyss Institute, organ-on-chips are 3D micro fluidic devices that mimic the structure and functions of living human organs. This technology allows researchers to study the functioning of the organ and the effect of drugs on the organs without using animal models.

Key Stakeholders

• Pharmaceutical companies
• Biotechnology companies
• Research institutions & academic centers
• Regulatory agencies
• Private & government-funding organizations

Report Objectives

• To define, describe, and forecast the global organ-on-chip market by model type, organ type, by product and service, by application, by purpose, by end-user and region
• To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall organ-on-chip market
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To provide detailed information regarding the major factors influencing the market growth, such as drivers, restraints, opportunities, and challenges
• To forecast the size of the market segments with respect to six main regions: North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa
• To strategically analyze the market structure and profile the key players of the global organ-on-chip market and comprehensively analyze their core competencies2
• To track and analyze competitive developments such as expansions, acquisitions, partnerships, collaborations, agreements, and product launches in the organ-on-chip market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for this report:

Company Information

• Twenty five company profiles