Artificial Organs Market size to exceed $30.9 bn by 2025

Artificial Organs Market size is set to exceed USD 30.9 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

Growing demand for advanced technology to reduce mortality rate due to organ failure and rising prevalence of chronic disorders will drive the business growth. Moreover, rising R&D activities to develop advanced medical bionics will foster the market growth during the projection period.   

 

Request Sample Buy NowInquiry Before Buying

 

Growing demand for organ transplantation will positively drive the industry growth

Rising prevalence of chronic diseases and severe injuries and infections lead to organ failure. Artificial organ transplantation is performed in order to achieve normal functioning as well as improve quality of life. As per the statistics of the American Transplantation Foundation, nearly 20 people in the U.S. die daily due to lack of organ donors. Thus, the need for reliable and advanced artificial organs will propel the demand for synthetic organs and positively drive the industry growth.
 

Rising acceptance of artificial organs to reduce morbidity and mortality rate due to organ failure will create numerous growth opportunities

Global Artificial Organs Market, 2018 & 2025 (USD Million)
Artificial Organs Market

Get more details on this report - Request Free Sample PDF
 

 

Adoption of sedentary lifestyle has led to various chronic disorders such as diabetes, hypertension and high blood pressure leading to organ failure. Moreover, rising number of injuries due to road accidents and burns has escalated the demand of medical bionics. Thus, rising cases of organ failures and scarcity of organ donors will provide lucrative growth opportunities in the future for artificial organs market.
 

Browse key industry insights spread across 130 pages with 136 market data tables & 8 figures & charts from the report, Artificial Organs Market Size By Organ Type (Artificial Heart, Artificial Liver, Artificial Lungs, Artificial Pancreas, Artificial Heart), By Material Type (silicon, Plastic, Steel), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Russia, Poland, Turkey, Italy, Japan, China, India, Australia, Argentina, Brazil, Mexico, South Africa, Saudi Arabia), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/artificial-organs-market
 

Increasing awareness about artificial organs will be the major market growth driver

Organ type segment for artificial organ market includes artificial kidney, artificial pancreas, artificial lungs, artificial liver, artificial heart and others such as limbs, small bowel etc. Artificial heart accounted for market revenue of USD 1.3 billion in 2018. Increasing incidence of heart failure globally will be the major factor driving the business growth. Congestive heart failure occurs due to blocked coronary arteries and adoption of sedentary lifestyle. Heart failure is a global pandemic that affects nearly 26 million people annually. Adoption of total artificial heart will increase significantly during the forecast years in order to reduce the mortality rate due to heart failure.
 

Based on material type, the artificial organ industry is segmented into silicon, steel, plastic and others. Plastic segment is estimated to grow at 10.1% during the forecast timeframe. It  is widely used in knee and hip replacements, to replace damaged bone and cartilage to recreate joint surface. Plastic is also widely used in synthetic eye prothesis. Around 40,000 patients in Europe are waiting for eye transplant due to scarcity of cornea donors. Other advantages associated with plastic includes cost effectiveness and biocompatibility, thus propelling the segmental growth.
 

High prevalence of chronic kidney disorders in France will spur the demand for artificial organs

France artificial organs market held revenue of USD 768.6 million in 2018 and will witness steady growth in the future. High growth rate is attributable to rising incidence of renal failure. It has been stated that, more than 82,000 patients suffering from kidney disorder require treatment with transplantation or dialysis. Additionally, hypertension and diabetes also contribute to increasing chances of suffering from renal failure. Thus, growing prevalence of infection and damage to the organ due to various chronic disorders will augment the growth of the market.
 

Leading companies are adopting various business strategies to capture larger market share

Few of the leading companies such as SynCardia, Nipro Corporation, Ottobock, Berlin Heart GmbH, Ekso Bionics, Cochlear Limited and Baxter International are dominating the overall artificial organs market. These companies are adopting various strategies such as new product launch, geographic expansion, mergers, acquisitions and partnerships with leading distributors to sustain the increasing competition. For instance, in September 2017, Ottobock announced acquisition with Conzetta, a swiss holding company for additional growth opportunities, thereby strengthening company’s market position by geographical expansion in Asia and North America.
 

Explore More on Related Topics:

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X