Title: Artificial Organs Market Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2026
1Artificial Organs Market Study by Regional
Outlook and Competitive Landscape to 2026
- The artificial organs market is poised for robust
growth on the back of significant shortage of
organ donors across the globe. In recent years,
the demand for organ transplantation has
significantly increased worldwide due to a surge
in the incidences of vital organ failure. As per
a study conducted at Global Market Insights Inc.,
the global artificial organs market was valued at
USD 18.4 billion in 2019 and is expected to
record 8.9 CAGR over the forecast period. - However, the unavailability and scarcity of organ
donors at the time of requirement have resulted
in an increased number of patients on transplant
waiting lists. For instance, around 1,700
Australian patients are currently on the national
transplant waiting list. Such organ shortage
disaster has prompted patients to opt for
alternative medical care to achieve a better
quality of life, predominantly creating lucrative
growth opportunities for artificial organs market
growth.
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2- Besides, industry participants have been striving
to tap the unexplored arenas and come up with a
gamut of innovative products in the artificial
organs industry. Several technological
advancements such as 3D printing, skin
bioprinting, and bioartificial kidneys have
started gaining significant prominence artificial
organs industry. Aided by innovations like the
aforementioned, the artificial organs market is
anticipated to witness lucrative growth over the
forecast period.
- The increasing cases of kidney failure due to
diabetes and high blood pressure have deprived
thousands of patients of a new and better quality
of life. In fact, around 10 percent of the global
population is suffering from chronic kidney
diseases that are responsible for millions of
deaths every year. This has prompted people to
opt for innovative treatment options, which in
turn will accelerate artificial kidney segment
growth over the forecast period. On this note,
the artificial kidney segment, which garnered
more than 50 market share in 2019, is estimated
to progress at a momentous rate over the ensuing
years.
- Notably, silicon is extensively used for the
development of artificial organs on account of
its soft nature and flexibility and high
temperature. In fact, the silicon segment was
accounted for over USD 6.5 billion in revenue in
2019. Moreover, silicons ability to withstand
coldness and moisture along with resistance to UV
lights are likely to further accelerate its
adoption over ensuing years.
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4- Considering the regional landscape, North America
artificial organs market was accounted for more
than 7.0 billion in revenue size in 2019. This
regional growth can be attributed to increasing
number of organ transplants in region. In fact,
as per the American Transplant Foundation, more
than 700,000 transplants were performed since
1988 in the United States. In addition, around
40,000 corneal transplants occur each year in the
nation.
- Key industry participants are Medtronic Plc,
Berlin Heart GmbH (Syscore GmbH), Boston
Scientific Corporation, Ekso Bionics Holdings,
Inc., Zimmer Biomet, Baxter, Cochlear Ltd., Nipro
Corporation, Ottobock, SynCardia Systems, LLC
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