Artificial Organs are tissues that are synthesized artificially to support the function of partially damaged organs. The incidences of organ donation continue to remain slim and this is one of the key drivers for this product. Moreover, the failure rate of biological organs has increased steadily over the last five years. One of the challenges includes product failure once the transplantation process is finished. The high cost of these artificial organs is a restraint. Also, the issue of the spread of infections needs to be addressed.
Artificial Organs market revenue is estimated to be $XX Billion in 2022 and shall grow with a CAGR of XX.X% during the forecast period of 2022 to 2031.
Analysis by Organ Type
According to the Organ Type, the segments are Artificial Pancreas, Artificial Lungs, Artificial Kidney, Artificial Heart, and Artificial Liver. The Artificial Organs market report verifies the dominance of Artificial Kidney over all other segments. Nearly 750 million people worldwide suffer from medium to high kidney dysfunctions. The Artificial Organs market research has robust data to suggest that close to 12 million people will need a kidney transplant in the upcoming period. The Artificial Organs market share of Artificial Liver is also likely to undergo a surge. Changing food and beverage habits have a large role to play in this development.
Analysis by Material Type
The Material type is segmented into the following three segments: Steel, Plastic, and Silicon. The Artificial Organs market size of Silicon is expected to lead the charts as more and more companies turn to the material owing to its excellent thermal properties as well as its inert nature. Fairly robust Research & Development in the field of Artificial Organs being made of this material have been successful and commercialization is likely to take place soon. The research on the utilization of plastic and steel in trace amounts in Artificial Organs is underway and likely to yield positive results in the next 3 years. Companies will be looking closely at these developments and would want to invest in the same at an early stage to reap a sustained competitive advantage over their competitors in the long run.
Analysis by Region
The Artificial Organs market estimation for the Asia-Pacific region looks very promising because of an increase in the rate of organ failure in this geography. Lifestyle diseases are also creeping into the population. Vehicular accidents are another source of the need for Artificial Organs in an extremely time-sensitive environment. The Artificial Organs market forecast for North America presents a rather steep count of organ failures owing to chronic disorders, diabetes, excessive alcohol intake, and a sedentary lifestyle. Nearly 20% of the U.S. population is expected to require a kidney transplant. Thus, the Artificial Organs price trend is likely to play to the advantage of companies in this industry.
Analysis by Leading Companies
The eminent Artificial Organs companies are SynCardia, Ekso Bionics, Nipro Corporation, Ottobock, Baxter International, Medtronic, Boston Scientific Corporation and Zimmer Biomet. New product launches are expected to be a widely deployed strategy to cater to the rising demand for these products. Secondly, acquisitions are likely to play out as an excellent method of inorganic growth in this industry. Large companies will focus on sensing the market demand in certain geographies and design partnership arrangements with existing regional players to fulfill the market dynamics. This will create a synergy for both the participating companies. Other industries in this domain that are growing at a high CAGR include Artificial Intelligence in Drug Discovery Market and Healthcare Artificial Intelligence Market.
COVERAGE HIGHLIGHTS
• Market Revenue Estimation and Forecast (2022 – 2031)
• Market Production Estimation and Forecast (2022 – 2031)
• Market Sales/Consumption Volume Estimation and Forecast (2022 – 2031)
• Breakdown of Revenue by Segments (2022 – 2031)
• Breakdown of Production by Segments (2022 – 2031)
• Breakdown of Sales Volume by Segments (2022 – 2031)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
• Regional Analysis and Market Data Breakdown
MARKET SEGMENTATION
By Organ Type Outlook ($Revenue and Unit Sales, 2022-2031)
• Artificial Pancreas
• Artificial Lungs
• Artificial Kidney
• Artificial Heart
• Artificial Liver
By Material Type Outlook ($Revenue and Unit Sales, 2022-2031)
• Steel
• Plastic
• Silicon
By Regional Outlook ($Revenue and Unit Sales, 2022-2031)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Italy
o France
o U.K.
o Germany
o Norway
o Sweden
o Belarus
o Latvia
o Estonia
o Greece
o Hungary
o Romania
o Serbia
• Asia-Pacific
o China
o India
o Uzbekistan
o Kyrgyzstan
o Japan
o Bangladesh
o Philippines
o Hong Kong
o Singapore
o Cambodia
o Australia
o Papua New Guinea
• Latin America
o Brazil
o Argentina
o Paraguay
o Uruguay
o Peru
• Middle East & Africa
o South Africa
o Oman
o Ghana
o Iran
o Algeria
o Qatar
o Morocco
Leading Companies
• SynCardia
• Nipro Corporation
• Ottobock
• Berlin Heart GmbH
• Cochlear Limited
• Baxter International
• Medtronic
• Boston Scientific Corporation
• Zimmer Biomet
• Ekso Bionics
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