At 4.7% CAGR, Europe Microelectrode Array In Vitro Market is Speculated to be Worth US$ 6.51 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe microelectrode array in vitro market was valued at US$ 4.49 million in 2023 and is expected to reach US$ 6.51 million by 2031, registering a CAGR of 4.7% from 2023 to 2031. Integration of microelectrode array technologies with organ-on-a-chip and microelectrode arrays with advanced features are among the critical factors attributed to drive the Europe microelectrode array in vitro market growth.

In recent years, in vitro microelectrode array technology has made significant advancements that enhance its ability to study cellular activity, especially in the fields of neurobiology and cardiology. A few of the key improvements in the microelectrode array are mentioned below:

• 3D Fabrication Techniques: The development of a 3D microelectrode array allows for the creation of more complex and physiologically relevant cellular environments. These arrays better replicate the natural structure of tissues, facilitating improved interactions between electrodes and cells. This enhancement is essential for applications in drug development and disease modeling, as it enables high-throughput screening assays and real-time health monitoring. In January 2023, BMSEED filed a non-provisional patent application for 3D microelectrode array technology for in vitro research. The technology underlying the filed patent develops a microelectrode array with adjustable 3D pockets with embedded electrodes that physically wrap around the organoid. This array will enable researchers to record neural signals from most of the surface (estimated to be 80%) of physiologically intact organoids.
• Integration with Advanced Biosensors: Incorporating biosensors into microelectrode arrays enhances their functionality, allowing for the detection and quantitative analysis of biomolecules and chemical compounds. This integration expands the range of applications for microelectrode arrays beyond basic cellular recording.
• Enhanced Electrode Design: Advancements in electrode design, including miniaturization and increased electrode density, enable more precise recordings of cellular activity. This is especially beneficial for studying complex neural networks and cardiac tissues. MicruX Technologies, an innovative technology-based company, offers microelectrodes on the basis of pinholes arranged in a honeycomb microstructure. This thin film features a working electrode with a sensor that is coated with a photoresist containing 5 µm or 10 µm pinholes, which create an array of ultramicroelectrodes.

Thus, the launch of advanced microelectrode arrays is expected to offer lucrative growth opportunities for the manufacturers operating in the microelectrode array in vitro market during the forecast period.

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

Based on product, the Europe microelectrode array in vitro market is divided into classical MEA, multiwell-MEA, and CMOS-MEA. The multiwell-MEA segment held 68.6% market share in 2023, amassing US$ 3,081.74 thousand. It is projected to garner US$ 4,528.16 thousand by 2031 to register 4.9% CAGR during 2023–2031.

In terms of application, the Europe microelectrode array in vitro market is segmented into cardiomyocytes, nerve, and others. The cardiomyocytes segment held 47.3% share of Europe microelectrode array in vitro market in 2023, amassing US$ 2,123.79 thousand. It is anticipated to garner US$ 3,157.52 thousand by 2031 to expand at 5.1% CAGR during 2023–2031.

Based on country, the Europe microelectrode array in vitro market is categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 21.3% share Europe microelectrode array in vitro market in 2023. It was assessed at US$ 953.97 thousand in 2023 and is likely to hit US$ 1,417.52 thousand by 2031, registering a CAGR of 5.1% 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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