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Global Artificial Organs Market Size By Organ Type (Artificial Heart, Artificial Kidney), By Competitive Landscape, By Geographic Scope And Forecast
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Artificial Organs Market Size And Forecast
Artificial Organs Market size was valued at USD 16.93 Million in 2021 and is projected to reach USD 32.62 Million by 2030, growing at a CAGR of 7.56% from 2023 to 2030.
The expansion of the Artificial Organs Market is being driven by rising technological advancements in production methods including bioartificial organ manufacturing, standardization, and automation. The market is comprehensively evaluated in the study on the global Artificial Organs Market. The research provides a thorough analysis of the market’s key segments, trends, drivers, restraints, competitive environment, and other important elements.
Global Artificial Organs Market Definition
Artificial organs are medical devices that are implanted or integrated into the body to replicate or enhance the natural functioning of an organ. Artificial organs primarily include implantable devices such as entirely artificial hearts and pacemakers and organ support devices such as dialysis machines and extracorporeal membrane oxygenation (ECMO) devices. Artificial organs are usually formed from individual human stem cells and later cultured in the laboratory. They are mainly composed of plastics in stem cells from transplant recipients who have colonized them. Therefore, the body’s immune system does not reject artificial organs.
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Global Artificial Organs Market Overview
Growing technological developments in production processes like the creation of bioartificial organs, standardization, and automation are the main reasons fueling the market’s expansion. Organ failure is becoming more common among the elderly as a result of significant health issues such as diabetes, heart disease, and chronic renal disease. The need for replacement organs is also growing as injuries from auto accidents and amputations happen more frequently.
Advanced artificial support systems have also been created as a result of improvements in medical technology and increased public awareness of the need to upgrade current medical infrastructure. The development of 3D bioprinting and the production of artificial gadgets by incorporating artificial intelligence (AI) has also improved market prospects. On the other side, the market expansion for artificial organs is constrained by high transplant prices. However, the lack of organ donors and the difficulty in finding them when needed is what is propelling the global development of artificial organ technology.
Global Artificial Organs Market Segmentation Analysis
The Global Artificial Organs Market is segmented on the basis of Organ Type and Geography.
Artificial Organs Market, By Organ Type
- Artificial Heart
- Artificial Kidney
- ArtificialPancreas
- Artificial Lungs
- Artificial Cochlear Implants
- Others
Based on Organ Type, the market is segmented into Artificial Heart, Artificial Kidney, Artificial Pancreas, Artificial Lungs, Artificial Cochlear Implants, and Others. Due to the rising mortality rate associated with dialysis and the rising demand for artificial kidneys, which is the factor driving the global growth of the Artificial Organs Market, the Artificial Kidney sector commands a sizable market share.
Artificial Organs Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Geography, the Global Artificial Organs Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North American region holds a large number of shares in the market because of the increasing number of chronic diseases, the growing organ transplant acceptance, and the increase in the adoption of advanced technology in the region, which is the factor that boosts the market growth of the Artificial Organs Market.
Key Players
The “Global Artificial Organs Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Boston Scientific Corporation, Berlin Heart GmbH, Baxter International Inc., Edward Lifesciences Corporation, Carmat SA, B. Braun Melsungen AG, Asahi Kasei Medical Co. Ltd, Abiomed, Getinge AB, and Medtronic PLC.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD |
2018-2030 |
| BASE YEAR |
2021 |
| FORECAST PERIOD |
2023-2030 |
| HISTORICAL PERIOD |
2018-2020 |
| UNIT |
Value (USD Million) |
| KEY COMPANIES PROFILED |
Boston Scientific Corporation, Berlin Heart GmbH, Baxter International Inc., Edward Lifesciences Corporation, Carmat SA, B. Braun Melsungen AG. |
| SEGMENTS COVERED |
|
| CUSTOMIZATION SCOPE |
Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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