Artificial Organs Market Overview, Product Overview, Segmentation, Overview of Regions, Dynamics, Limitations, Opportunities and Industry News and Policies 2027
Research Reports
Jan 20, 2021
Market Size – USD 18.49 Billion in 2019, Market Growth – CAGR of 7.3%, Market Trends –Growing geriatric population
A rapid growth in demand for organ transplantation across the globe is owing to the growing prevalence of the failure of vital organs, along with the increasing success rate and improvement in post-transplant health conditions. Nevertheless, the lack of donors for transplantation to cater to the rising demand has led to a shortage crisis in the market for body parts transplantation. Thus, a significant rise in the number of patients waiting for a transplant and a rise in the mortality rate of patients due to the unavailability of organs for transplantation is driving the growth of the market.
By organ type, an artificial heart is estimated to witness the fastest growth rate of 8.7% in the forecast period. These have numerous prospective benefits, comprising the ability to support patients suffering from biventricular failure; without a pocket, thereby reducing infection risk; and the possibility for treating patients suffering from systemic diseases (for example, malignancy and amyloidosis), who not considered appropriate for transplantation.
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By material type, plastics are likely to witness a significant growth rate in the forecast period. The mechanical features of metal biomaterials such as steel are exceptional but do not possess good surface biocompatibility. This drawback of metals can be overcome by the use of biocompatible materials such as plastics, which are also available at a lower cost, thus boosting the demand for plastics in the market
North America, in terms of revenue, contributed to the largest market share in 2019. The market dominance of the region is due to the high purchasing power parity, rapid adoption of technologies, a high healthcare expenditure, and rising awareness among patients with organ failures.
Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA
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Key participants include Zimmer Biomet, Ekso Bionics, Boston Scientific Corporation, Abiomed Inc., Heartware International Inc., Cochlear Ltd., Berlin Heart GmbH, Medtronic, Nipro Corporation, and Baxter International, among others.
Organ Type Outlook (Revenue, USD Billion; 2017-2027)
Artificial Kidney
Artificial Liver
Artificial Heart
Artificial Lungs
Artificial Pancreas
Others
Usage Outlook (Revenue, USD Billion; 2017-2027)
Implantable
Extracorporeal
Material Type Outlook (Revenue, USD Billion; 2017-2027)
Silicon
Plastic
Steel
Others
Helping you establish a strong foothold in the industry
The Artificial Organs report highlights set of information related to pricing and the category of customers who are more than willing to pay for certain products and services. The information on opportunities as well as product features, determine which offerings or benefits command sale and identify the communications channels used by the market leaders to create premium positioning strategies as well as attract broadest share.
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The research provides answers to the following key questions:
What is the estimated size of the Artificial Organs market for the forecast period, 2020 – 2027? What will be the growth rate of the industry during the estimated period?
What are the prominent driving forces likely to impact the progress of the industry across different regions?
Who are the major market players occupying a strong foothold in the Artificial Organs market? What are the winning strategies adopted by them to stay ahead in the competition?
What are the potential opportunities for the Artificial Organs market for the forecast period, 2020 – 2027?
What are the key trends expected to shape the development of the industry over the coming years?
What are the key restraints and challenges likely to hinder the growth of the Artificial Organs market worldwide?
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