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Artificial Organs Market 2020 Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2025

Author : Ronak Bora | Published Date : 2020-09-09 

Artificial Organs Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Rise in the incidences of failing organs across the world coupled with the lack of organ donors will foster artificial organs market share over the forecast timeframe. There has been a rise in the prevalence of chronic diseases worldwide which has resulted in the increasing demand for organs. Rapidly advancing technologies in the field of medical bionics has helped introduce innovative technologies in the market.

There has been a significant growth in the general awareness among the population pertaining to artificial organ transplants and the associated benefits of swift recovery and better healthcare outcomes. Key players involved in the development and supply of artificial organs include SynCrdia, Ottobock, Ekso Bionics, Baxter International, Nipro Corporation, Berlin heart GmbH and Cochlear Limited.

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These players have been prioritizing the development of new products, acquisitions and mergers to be able to capitalize on the opportunities provided by the market and secure a competitive edge over other players in the market. Global artificial organs market size will observe a major gain and surpass USD 30.9 billion by the year 2025. Artificial organs are essentially engineered tissues as well as devices that are implanted in a human body, connecting with the living tissues/cells for the replacement of a missing organ in order to help the body perform its functions properly.

Technological advancements associated with artificial organs as well as bioartificial materials is favoring the product adoption. Various manufacturers in the market are focusing primarily on R&D in a bid to improve the functioning of artificial organs as per different medical conditions. BiVACOR’s total artificial heart device is an excellent option available to patients with end-stage biventricular heart failure that do not qualify for transplants.

SynCardia Systems has also developed a temporary total artificial heart device that can be used as a bridge for human heart functions for patients with end-stage heart failure and is the only one approved by European Union and Canadian regulatory boards and the U.S. Food & Drug Administration.

In 2018, artificial pancreas accounted for a revenue generation of over USD 352.6 million and are estimated to follow a similar upward graph up to 2025, on account of the rising incidences of diabetes and family history of pancreatic disorders.

Sedentary lifestyle and excessive consumption of alcohol has led to dysfunction of pancreas in large number of people. Growing number of patients requiring pancreas transplant are likely to bolster the demand for artificial organs.

Growing demand for durable and cost-effective artificial organs is leading to increased adoption of steel artificial organs. Steel segment is expected to showcase growth rate of 9.1% through 2025 on account of easy availability, excellent fabrication properties, biocompatibility, low costs and higher strength as compared to other materials.

India artificial organ market is expected to grow at nearly 9.8% CAGR up to 2025 on account of increasing prevalence of chronic disorders, number of road accidents, adoption of sedentary lifestyle and rising geriatric population base across the country.

As per the WHO, CVD disorder is one of the major factors responsible for heart failure and high mortality rate in India. Rising per capita income of the regional population along with awareness about artificial organs may favor the regional healthcare businesses. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/artificial-organs-market

Partial Chapter of the Table of Content 

Chapter 4.  Artificial Organs Market, By Organ Type

4.1. Key segment trends

4.2. Artificial kidney

4.2.1.  Market size, by region, 2014 – 2025 (USD Million)

4.3. Artificial liver

4.3.1.  Market size, by region, 2014 – 2025 (USD Million)

4.4. Artificial lungs

4.4.1.  Market size, by region, 2014 – 2025 (USD Million)

4.5. Artificial pancreas

4.5.1.  Market size, by region, 2014 – 2025 (USD Million)

4.6. Artificial heart

4.6.1.  Market size, by region, 2014 – 2025 (USD Million)

4.7. Others

4.7.1.  Market size, by region, 2014 – 2025 (USD Million)

Chapter 5.  Artificial Organs Market, By Material Type

5.1. Key segment trends

5.2. Silicon

5.2.1.  Market size, by region, 2014 – 2025 (USD Million)

5.3. Plastic          

5.3.1.  Market size, by region, 2014 – 2025 (USD Million)

5.4. Steel

5.4.1.  Market size, by region, 2014 – 2025 (USD Million)

5.5. Others

5.5.1.  Market size, by region, 2014 – 2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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