At 5.0% CAGR, Asia Pacific Microelectrode Array In Vitro Market is Projected to be Worth US$ 5.60 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific microelectrode array in vitro market was valued at US$ 3.80 million in 2023 and is expected to reach US$ 5.60 million by 2031, registering a CAGR of 5.0% from 2023 to 2031. Rising focus on developing alternatives for animal testing models and microelectrode arrays with advanced features are among the critical factors attributed to drive the Asia Pacific microelectrode array in vitro market growth.

Animal models are used widely in biomedical research for human-specific diseases. However, various drug toxicology studies demonstrate that animal models cannot always predict human drug response. This is because there are wide variations in the metabolism of drugs and toxins in humans compared to animals, which makes it nearly impossible to study drug metabolism in experimental models such as laboratory rodent species. Additionally, Cruelty-Free International and the Fund for the Replacement of Animals in Medical Experiments are a few regulatory bodies that oppose animal-based models for research. Such strict regulatory requirements for assessing the toxicity of chemicals, cosmetics, and environmental compounds drive the adoption of microelectrode arrays for in vitro testing. As a result, pharmaceutical and biotechnology companies are encouraged to implement microelectrode array-based testing platforms for screening the neurotoxicity and cardiotoxicity of drugs.

Manufacturers of microelectrode array systems such as BMSEED offer proprietary stretchable microelectrode arrays (sMEAs) and MEASSuRE platform. The use of sMEAs enhances the validity of in vitro experiments by replicating the electrical and mechanical environment of cells, similar to their conditions in vivo, within a controlled setting. By creating a biomimetic environment for cells and tissues, sMEAs can closely mimic the human body, providing more accurate, human-relevant data early in preclinical research. This approach aims to reduce failure rates in human clinical trials.

Thus, the rising focus on developing alternatives for animal models for research fuels the microelectrode array in vitro market growth.

On the contrary, the high development costs of microelectrode arrays hamper the growth of Asia Pacific microelectrode array in vitro market.

Based on product, the Asia Pacific microelectrode array in vitro market is divided into classical MEA, multiwell-MEA, and CMOS-MEA. The multiwell-MEA segment held 67.0% market share in 2023, amassing US$ 2,541.96 thousand. It is projected to garner US$ 3,811.82 thousand by 2031 to register 5.2% CAGR during 2023-2031.

In terms of application, the Asia Pacific microelectrode array in vitro market is segmented into cardiomyocytes, nerve, and others. The cardiomyocytes segment held 46.6% share of Asia Pacific microelectrode array in vitro market in 2023, amassing US$ 1,770.19 thousand. It is anticipated to garner US$ 2,692.08 thousand by 2031 to expand at 5.4% CAGR during 2023-2031.

Based on country, the Asia Pacific microelectrode array in vitro market is categorized into Japan, China, India, South Korea, Australia, Vietnam, Philippines, Singapore, Indonesia, Malaysia, Thailand, and the Rest of Asia Pacific. Our regional analysis states that China captured 21.3% share Asia Pacific microelectrode array in vitro market in 2023. It was assessed at US$ 807.86 thousand in 2023 and is likely to hit US$ 1,296.59 thousand by 2031, registering a CAGR of 6.1% during 2023-2031.

Key players operating in the microelectrode array in vitro market are Tucker Davis Technologies; SCREEN Holdings Co., Ltd.; Plexon Inc.; MaxWell Biosystems AG; Harvard Bioscience Inc.; Axion BioSystems Inc; 3Brain AG; NeuroNexus Technologies Inc.; MicroElectrodeDevices; Blackrock Microsystems, Inc.; NMI Technologietransfer GmbH; and BMSEED, among others.

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