Microelectrode array market projected to reach $25.67 million by 2031, driven by neuroscience research.
From GlobeNewswire: 2025-01-24 04:58:00
The microelectrode array in vitro market is projected to reach US$ 25.67 million by 2031 with a CAGR of 4.6%. Key players in the market include Tucker Davis Technologies, SCREEN Holdings Co., Ltd., and Axion BioSystems Inc. Rising demand for microelectrode arrays in neuroscience research and focus on developing alternatives for animal testing models are driving market growth.
Microelectrode array technology is crucial in neuroscience research for studying neurological disorders and drug development. North America led the market in 2023, with Asia Pacific expected to have the highest CAGR. Companies like Axion BioSystems and Multi Channel Systems are launching innovative products to meet the growing demand for microelectrode array systems.
Axion BioSystems and STEMCELL Technologies partnered to sell Axion’s MEA systems in North America and Europe. NETRI introduced a new MEA-capable organs-on-chip line, NeuroFluidics MEA, powered by Axion Biosystems’ technology. The market segmentation includes classical, multiwell, and CMOS microelectrode arrays, with the multiwell segment holding the largest share in 2023.
Regulations restricting animal use in research activities are driving the adoption of microelectrode arrays for in vitro testing. Companies like BMSEED offer stretchable microelectrode arrays to enhance the validity of experiments. The report from The Insight Partners provides valuable insights for stakeholders navigating the evolving market landscape.
To stay updated on the latest trends in the microelectrode array in vitro market, visit The Insight Partners website. The report covers market growth, competitive strategies, and development of key players in the industry. For more information or to purchase a copy of the report, visit the provided links.
For further inquiries or information, contact Ankit Mathur at The Insight Partners via email or phone. The surge in neuroscience research and focus on alternatives for animal testing models are driving the growth of the microelectrode array in vitro market. Manufacturers are launching innovative products to meet the increasing demand in the industry.
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