Artificial Organs Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Brazil, Mexico, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3447
Artificial Organs Market size is projected to experience significant growth from 2019 to 2025.
Rising cases of organ failure will boost artificial organs market growth over the forecast timeframe. As per the National Institute of Diabetes and Digestive and Kidney Diseases, around 661,000 of the U.S. population suffer from kidney failure. Death due to organ failures is also very common among patients. In addition, insufficient number of organ donations will further impel the demand for artificial organs, thereby stimulating artificial organs industry growth.
Increasing geriatric population will expand artificial organs industry size over the estimation period. The elderly population is susceptible to suffer from various chronic ailments including kidney diseases, cardiovascular disorders, and neurological conditions, among the others. With the growing age, the probability of suffering from organ failures escalates significantly, further offering momentous market growth opportunities in the foreseeable future.
Growing technological advancements in the field of science and medicine will drive artificial organs market growth over the forthcoming years. Innovative approaches, such as additive combined molding and magnetic adsorption of cell, have evolved significantly, assisting the development of artificial organs. Advanced technologies for production of such organs allow combination of various cell types and tissues to generate high-end artificial organs. Thus, the availability of new platforms will offer lucrative market growth potential over the upcoming years.
However, restrictive cost coupled with the rejection of artificial organs acts as major barriers, hampering artificial organs business growth.
Pancreas market is projected to foresee robust growth due to the rising pervasiveness of diabetes mellitus. According to the World Health Organization, diabetes was the seventh leading factor of death in the year 2016 and its prevalence is estimated to rise rapidly over the next few years. Several research activities are being conducted in the development of the artificial pancreas. This type of artificial organ is estimated to treat type 1 & type 2 of diabetes mellitus, thus offering attractive segment growth opportunities during the forecast years.
The U.S. artificial organs market is projected to witness momentous growth owing to the rising research & development activities in the country. Investments in research for tissue engineering as well as 3D printing in healthcare are growing rapidly. Moreover, rising need for organs will escalate the demand for artificial organs across the U.S. For instance, the United Network for Organ Sharing (UNOS) projected that over one lakh Americans needing a kidney, are a part of the waiting list. Thus, the expanding demand for life-saving organs coupled with the growing prevalence of chronic diseases will augment U.S. artificial organs industry growth in the coming period.
Japan artificial organs market is estimated to account for a considerable revenue size over the forecast period. High growth is attributed to the widespread availability and utilization of cutting-edge technology in the country. Growing incidence of chronic diseases in Japan will further expand the demand for artificial organs. In addition, increasing healthcare expenditure will significantly contribute to robust artificial organs business growth in Japan during the forecast timeframe.
Some of the key industry players include Cochlear Limited, Medtronic, and SynCardia Systems, among other players. Key strategies adopted by the industry players include new product development and innovative product launches to fulfill unmet needs and tap unexplored market opportunities.
Artificial Organs Market by Organ Type, 2014-2025 (USD Million)
- Urinary bladder
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- Advanced Bionics AG
- Berlin Heart GmbH
- BioAesthetics Corporation
- Cochlear Limited
- Edward Lifesciences
- Ekso Bionics
- Jarvik Heart Inc.
- Oticon Medical
- Retina Implant AG
- SynCardia Systems, LLC
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