23-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Artificial Organ Market By Type (Artificial Kidney, Artificial Lungs, Artificial Heart, Artificial Livers, and Others), and By Fixation Method (Externally Worn, and Implantable): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Artificial Organ market in 2019 was approximately USD 18.07 Billion. The market is expected to grow above a CAGR of 8.9% and is anticipated to reach over USD 32.82 Billion by 2026.
An artificial organ is a medical device inserted or implanted into the human body to mimic or improve the biological function of the organ. Increasing the incidence of cardiovascular diseases (CVDs) such as heart disease, strokes, chronic kidney disease, diabetes, rising aging populations and hearing disorders are likely to boost demand for artificial organs. In effect, the uptick in unhealthy diets and physical inactivity may have resulted in increased cardiovascular disorders and chronic conditions, resulting in increased demand for devices such as complete artificial hearts and pacemakers.
Browse the full “Artificial Organ Market By Type (Artificial Kidney, Artificial Lungs, Artificial Heart, Artificial Livers, and Others), and By Fixation Method (Externally Worn, and Implantable): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026"https://www.fnfresearch.com/artificial-organ-market-by-type-artificial-kidney-artificial-894
The key drivers of the artificial organ market are the growing global population and a resulting increase in the number of people suffering from organ failure. The demand for artificial organs has resulted in rising road accidents and injuries leading to surgical procedures coupled with increased knowledge of medical technology advancements in the public. On the other hand, high transplant costs and insufficient surgical experience are expected to constrain market growth in most regions. Where possible, however, the absence and scarcity of organ donors have stimulated the development of new technologies for artificial organs worldwide. The increasing number of kidney failures and dialysis due to poor living conditions, disproportionate numbers of injuries, rapid aging population, diseases and a growing number of people waiting for organ transplants are the main factors driving the market Scientists are conducting studies on renewable energy cells which could use glucose and oxygen from the human body to produce electricity. These factors provide the potential for the artificial organ industry to expand further at a significant rate.
The artificial kidney segment is thought to have the largest size on the market and is projected to see strong growth over the forecast period. The organ requirement is greater than the number of donated organs. Also now, there are plenty of elderly patients seeking organ transplants, but not everyone can do it because of the current limited organ transplant supply. Not only is organ scarcity a concern, but finding the right organ for the body is also a major issue. Bio-medicine is an increasing move toward solving this issue in the science world. Biomedicine is a branch of medical research pursuing genetic and other principles of biological science for the development of artificial organs in medical practice. Because of biomedicine, the right organ can be given to the patient at the right time. Therefore, biomedicine is a spark of hope for those suffering organ failures.
North America is currently leading the market for artificial organs, and its dominance is expected to continue for some years to come. This area is expected to increase its market share in the future due to excessive demand for artificial organs. The U.S. spends a substantial portion of its gross domestic product on medical care each year. A substantial part of that goes into transplants in the U.S. Furthermore, the U.S. continues to hold the largest proportion of the artificial organ market in North America. The Asia Pacific is also predicted to be the fastest-growing market of the artificial organs over the forthcoming years.
Top key players operating in the market are HeartWare International, Inc., Cochlear Limited, Baxter International Inc., Edwards Lifesciences Corp., Baxter International Inc., Fresenius Medical Care, Getinge AB, Boston Scientific Corporation, Medtronic PLC, Abiomed, Inc., B. Braun Melsungen AG, and Others.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 18.07 Billion |
Projected Market Size in 2026 |
USD 32.82 Billion |
CAGR Growth Rate |
6.6% CAGR |
Base Year |
2020 |
Forecast Years |
2020-2026 |
Key Market Players |
HeartWare International, Inc., Cochlear Limited, Baxter International Inc., Edwards Lifesciences Corp., Baxter International Inc., Fresenius Medical Care, Getinge AB, Boston Scientific Corporation, Medtronic PLC, Abiomed, Inc., B. Braun Melsungen AG, and Others. |
Key Segment |
By Type, By Fixation Method, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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The taxonomy of the artificial organ industry by its scope and segmentation is as follows:
Global Artificial Organ Market: By Type Segmentation Analysis
- Artificial Kidney
- Artificial Lungs
- Artificial Heart
- Artificial Livers
- Others
Global Artificial Organ Market: By Fixation Method Segmentation Analysis
- Externally Worn
- Implantable
Global Artificial Organ Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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