Artificial organs are human-made devices designed to replace or assist the function of natural organs. They offer a potential solution for organ failure, improving quality of life and extending lifespan. These organs can be mechanical or bioengineered, including artificial hearts, kidneys, lungs, liver support systems, and artificial pancreas. They are created using advanced biomedical engineering techniques. Artificial organs can serve as temporary solutions while awaiting organ transplantation or as long-term alternatives when transplantation is not feasible. With ongoing advancements in medical technology, artificial organs hold great promise in addressing the growing demand for organ replacements and saving lives.
According to Data Bridge Market Research, the Artificial Organ is USD 23.16 billion in 2022 and is expected to reach USD 42.24 billion by 2030, at a CAGR of 7.8% during the forecast period 2023 to 2030
“Shortage of organ donors surge market demand"
The shortage of organ donors worldwide has created a significant challenge in meeting the demand for organ transplantation, leading to prolonged waiting times and compromised health for needy patients. In this context, artificial organs emerge as a robust solution, offering immediate treatment options and bypassing the reliance on traditional organ donors. Providing timely interventions, artificial organs bridge the gap between organ supply and demand, offering renewed hope and improved quality of life for individuals awaiting transplantation surging the demand for artificial organs.
What restraints the growth of the artificial organ?
“High cost can impede the market growth”
The high cost of artificial organs stems from the intricate technology involved in their development, manufacturing, and implantation processes. The extensive research, advanced materials, and specialized expertise required to contribute to their expensive nature. However, this challenges their widespread accessibility, especially in regions with constrained healthcare budgets or insufficient insurance coverage. The high cost limits the affordability for patients. It strains healthcare systems, impeding the broader adoption and utilization of artificial organs as a viable treatment option for organ failure.
Segmentation: Global Artificial Organ
The artificial organ market is segmented on the basis of organ type, material type, and type.
- On the basis of organ type, the artificial organ market is segmented into Artificial Heart, Artificial Kidney, artificial pancreas, artificial lungs, Cochlear Implants, artificial liver, others
- On the basis of material type, the artificial organ market is segmented into silicon, plastics, and steel.
- On the basis of type, the artificial organ market is segmented into permanent artificial organs, and temporary artificial organs.
Regional Insights: North America Dominates the Global Artificial Organ
North America's dominance in the artificial organ market can be attributed to several factors. Firstly, the region experiences a high prevalence of organ failure cases, creating a significant demand for artificial organs as a life-saving solution. Secondly, the increasing aging population in North America contributes to the rising incidence of age-related organ failures, further driving market growth. Additionally, the region's advanced healthcare infrastructure and research capabilities support the development and adoption of artificial organ technologies, solidifying its market dominance.
Asia-Pacific is poised to experience rapid growth in the artificial organ market during the forecast period. The region's increasing healthcare expenditure and improvement in healthcare infrastructure are key drivers. Rising awareness about advanced medical treatments, a growing middle-class population, and increasing disposable income will fuel the demand for artificial organs. Additionally, technological advancements and collaborations between international and local players in the region contribute to the expansion of the market in Asia-Pacific.
To know more about the study, visit,https://www.databridgemarketresearch.com/reports/global-artificial-organs-market
The Prominent Key Players Operating in the Global Artificial Organ Include:
- B. Braun SE (Germany)
- Boston Scientific Corporation (U.S.)
- Getinge AB. (Sweden)
- ABIOMED. (U.S.)
- Asahi Kasei Corporation (Japan)
- Berlin Heart (Germany)
- CARMAT (France)
- Jarvik Heart, Inc. (U.S.)
- Terumo Corporation (Japan)
- SynCardia Systems, LLC (U.S.)
- Nipro Europe Group Companies (Japan)
- Medtronic (Ireland)
- Organovo Holdings Inc. (U.S.)
- NexImmune (U.S.)
- Diabeloop SA (France)
- Admetsys (U.S.)
- Defymed (France)
- Pancreum, Inc. (U.S.)
- Beta Bionics Inc. (U.S.)
- Integra LifeSciences (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of artificial organ companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Artificial Organ
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
