Global Artificial Organs Market Report and Forecast 2024-2032

Global Artificial Organs Market Outlook

The global artificial organs market reached a value of USD 18.64 billion in 2023. The market is further expected to grow at a CAGR of 6.8% in the forecast period of 2024-2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Rising Demand for Kidney Transplantation to Boost the Demand for Artificial Organs

Based on type, the growing demand for the transplantation of internal organs, particularly kidney, is driving the growth of the market. This is supported by the growing cases of diabetes, and high blood pressure across the globe as these are the leading causes of kidney failure. The rising awareness regarding the availability of treatment options and escalating disposable incomes are aiding the growth of the segment.

North America to Significantly Contribute to the Artificial Organs Industry Growth

Region-wise, North America accounted for a significant share in the industry owing to a rise in the number of transplantation procedures being performed in the region, coupled with the growing prevalence of various lifestyle related disorders like obesity and diabetes. Moreover, the availability of well-developed healthcare infrastructure and the growing penetration of leading biotechnology and medical device companies in developed nations like the United States are significantly contributing to the industry growth. The other significant regions for the product include the Asia Pacific and Europe. Within the Asia Pacific, the improving healthcare facilities and the rising demand from economies like China, India, and Japan are expected to aid the market growth in the forecast period.

Artificial Organs: Market Segmentation

Artificial organs are engineered devices or tissues that are developed to mimic natural organs and support a specific function or some functions, so that the patient suffering from organ failure may return to a normal life. These organs are implanted or integrated into a human body, further interfacing with living tissues. They perform active biological or mechanical functions.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Based on classification, the market is bifurcated into:

• Temporary Artificial Organs
• Permanent Artificial Organs

Based on type, the industry can be segmented into:

• Skin or Soft Tissue
  • Skin
  • Muscles
  • Breasts
  • Others
• Internal Organs
  • Heart
  • Kidney
  • Pancreas
  • Liver
  • Blood Vessels
  • Others
• Sensory Organs
  • Ears
  • Eyes

The various technologies available in the industry include:

• Mechanical
• Electronic

By fixation, the industry can be bifurcated into:

• Implantable
• Externally Worn

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Increase in the Number of Organ Transplantation Surgeries and Lack of Donors to Bolster the Artificial Organs Industry Growth

The rising awareness among consumers regarding organ transplantation and the lack of suitable donors and organ shortage are driving the demand for artificial organs, which is pushing the growth of the industry. With the growing need for organ transplantation, scientists are focusing on innovating safer and cheaper ways to manufacture artificial organs. Further, the growing incidence of lifestyle-related disorders and chronic diseases, along with the increasing geriatric population across the globe, is also invigorating the market growth. Other factors aiding the market expansion include favourable government initiatives and growing R&D activities, advancements in technology, escalating disposable incomes, and developing healthcare sector. Over the forecast period, advancements in the field of 3D bioprinting, which is used to develop artificial organs, and the growing integration of artificial intelligence in the healthcare sector are expected to further boost the industry growth.

Key Industry Players in the Global Artificial Organs Market

The report gives a detailed analysis of the following key players in the global artificial organs market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• SynCardia Systems, LLC
• Berlin Heart GmbH
• Carmat SA
• Cochlear Ltd.
• B. Braun Melsungen AG
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Artificial Organs Market Report Snapshots

Artificial Organs Market Size

Artificial Organs Companies