Rising prevalence of chronic
disorders affecting one or multiple organs and scarcity of organ donors to drive
the growth of global artificial organs market
According
to TechSci Research report, “Global Artificial OrgansMarketBy
Organ Type (Artificial Heart (Prosthetic Heart Valves, Ventricular Assist
Devices, Cardiac Pacemakers), Artificial Kidney, Artificial Pancreas,
Artificial Lungs, Cochlear Implants, Others), By Technology (Electronic
Bionics, Mechanical), By Type of Fixation (Wearable, Implantable), By Material
Type (Silicon, Plastic, Steel), By Region, Forecast &Opportunities, 2025”, the global
artificial organs market is expectedto witnesssignificant CAGR until 2025 owing
to artificial organ’s ability to restore normal functioning of human organs.
Furthermore, increasing cases of chronic disorders affecting one or multiple
vital organsis creating demand for artificial organ transplants. Spike in
number of road accidents and severe injuries is also propelling the growth of
artificial organs market around the world. The list of patients waiting for
organ transplant is rising globally and hence, there is a growing need for
artificial organs in order to reduce the mortality rate. Additionally,
increasing expenditure on healthcare and technological advancements is further
anticipated to drive the market growth until 2025.Moreover, growing awareness
towards healthy living has led to increasing acceptance of artificial organ
transplant technology among people. The use of bioartificial materials has also
resulted in surge in demand for artificial organs. Rising cases of organ
failure, especially among geriatric population is another key factor supporting
the growth of global artificial organs market.
However, there are certain major issues, hindering the
growth of global artificial organsmarket. Significant rise in cases of product
failure after transplantationmight hamper the growth of this market. Further, high
cost of artificial organsmight limit the overall growth of the market.
Browse
XX market data Tables and XX Figures spread through XXX
Pages and an in-depth TOC on
"Global Artificial OrgansMarket"
The
global artificial organs market is segmented based on organ type, technology,
type of fixation, material type and region. Based on organ type, the market is
segmented into artificial heart, artificial kidney, artificial pancreas,
artificial lungs, cochlear implants and others. Among these, the artificial heart
segment is further categorized into prosthetic heart valves, ventricular assist
devices and cardiac pacemakers. Here, the artificial kidney segment is expected
to undergo highest growth during the forecast period owing to increasing number
of patients suffering from kidney disorders. According to International Society
of Nephrology, the number is even higher than that of people diagnosed with
diabetes.Based on material type, the global artificial organs market is
categorized into silicon, plastic and steel. Among them, the silicon segment is
expected to witness high demand in the global market as it can endure high
temperature. Additionally, the segment is expected to undergo fastest growth
during the forecast period as more companies are adopting silicon as a key material
for manufacturing artificial organs.
Major players operating in the global artificial
organsmarket includeCochlear Ltd., B. Braun Melsungen AG, Abiomed Inc., Biomet
Inc., Baxter International Inc., Edward Lifesciences Corporation, Syncardia, Boston
Scientific Corporation, Asahi Kasei Medical Co. Ltd, Heartware International,
Inc, Dexcom, Inc., Ekso Bionics, OTTO Bock Healthcare GmbH, Jarvik Heart, Inc.,
Advanced Bionics AG and affiliates, Fresenius Medical Care AG & Co. KGaA, Med-El
ElectromedizinischeGerate GmbH, Medtronic, Plc, Retina Implant AG and Nipro
Corporation. The companies are focusing on new product launches and research
& development activities to enhance their product portfolio. They are also
undertaking other growth strategies such as partnerships & acquisitions to
increase their market share.
Customers
can also request for 10% free customization on this report.
“North
America leads the global artificial organ transplants market as Trump’s
administration in United States has increased expenditure on healthcare sectorsignificantly,which
is a major boosting factor for healthcare companies and the market. Additionally,
the region is also home to growing geriatric population and among them, a large
portion isfacing organ failure issues. Adding to this, high per capita
disposable income of the region is enabling people to easily opt for artificial
organ transplants, thereby fueling the market, ” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Artificial Organs Market By Organ Type
(Artificial Heart (Prosthetic Heart Valves, Ventricular Assist Devices, Cardiac
Pacemakers), Artificial Kidney, Artificial Pancreas, Artificial Lungs, Cochlear
Implants, Others), By Technology (Electronic Bionics, Mechanical), By Type of
Fixation (Wearable, Implantable), By Material Type (Silicon, Plastic, Steel),
By Region, Forecast &Opportunities, 2025”has
evaluated the future growth potential of global artificial organs market and provides
statistics &information on market size, structure and future market growth.
The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global artificial organs market.
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