Artificial Organ Market size was valued at USD 28.6 Bn. in 2022 and the total market revenue is expected to grow by 10 % from 2023 to 2029, reaching nearly USD 55.73 Bn.
Artificial Organ Market Overview
Maximize Market Research conducted the analysis of the Artificial Organ market, which includes a thorough examination of different regions and the competitive landscape. The report provides valuable insights into the market’s current and future potential, helping businesses understand the trends and opportunities in the industry.
Artificial Organ Market Report Scope and Research Methodology
The report provides valuable information on their strategies, revenue, partnerships, joint ventures, and more. To estimate the Artificial Organ Market size, a bottom-up approach was used, ensuring accurate and reliable data for the report. Primary and secondary data collection methods were utilized to gather information for the Artificial Organ Market report. The Artificial Organ Market report provides a qualitative and quantitative analysis of market size, price, demand, mergers and acquisitions, supply chain, investment and expansion plans by key competitors, and predictions. The SWOT analysis was employed to identify the strengths and weaknesses of key players in the Artificial Organ industry, while the PESTLE analysis was used to evaluate the potential impact of macroeconomic and microeconomic factors on the Artificial Organ industry.
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Dynamics:
Product Innovations: Amid rising cases of organ failure, technological breakthroughs drive market growth. BiVACOR’s complete artificial heart system and SynCardia Systems’ implanted artificial heart are revolutionizing treatments for end-stage heart failure.
Growing Demand for Transplants: Over 106,000 people in the U.S. are on transplant waiting lists. The artificial organ market steps in to bridge the gap, though the COVID-19 pandemic did temporarily impede growth.
Artificial Organ Market Regional Insights
The Artificial Organ market is broadly segmented into these regions, which helps in gaining a comprehensive understanding of the market’s landscape and dynamics in each geographical area. This analysis provides valuable insights for businesses to make informed decisions and strategize their operations accordingly.
Artificial Organ Market Segmentation
by Type
1. Artificial Organs
1.2 Kidney
1.3 Heart
1.4 Lungs
1.5 Liver
1.6 Pancreas
2 Artificial Bionics
2.1 Cochlear implant
2.2Exoskeleton
2.3 Bionic limbs
2.4 Vision bionics
2.5 Brain bionics
With almost 70.9% of the market share, the artificial organs segment led the artificial organ market in 2022 based on product. The segment’s expansion is being driven by the need for transplants of the kidney, heart, lung, and liver. The usual waiting period in the US is five years on average for a kidney transplant. Numerous considerations are considered while on the waiting list, including as the severity of the sickness, body size, blood type, and distance from a donor. The difficulty in satisfying unmet demand has led to the development of wearable artificial kidneys, bio-lungs, and artificial pancreas by manufacturers.
The artificial bionics market is anticipated to expand at the fastest rate throughout the course of the forecast period. The main causes are the rising demand for brain bionics, exoskeletons, vision, cochlear implants, and limbs.
by Technology
1.Mechanical bionics
2.Electronic bionics
With 67.1% of the market share in 2022, mechanical bionics dominated the market based on technology. The main causes of this are the rising incidence of organ failure and the inexpensive nature of mechanical bionics. Because they are highly durable compared to alternative solutions, mechanical artificial heart valves are in high demand. Fast FDA approvals and reimbursement practices are other growth-promoting elements. For instance, in September 2021, the FDA authorized Abbott’s Portico with FlexNav TAVR system to treat aortic stenosis patients who are symptomatic and at a very high risk of requiring open heart surgery. In the artificial organ market, the electronic bionics segment is anticipated to grow at the quickest rate over the forecast period.
by Material
1. Silicone
2.Plastic
3.Steel
4.Biomaterials
by End Users
1.Hospitals
2.Ambulatory Surgical Centers
3.Laboratories and Diagnostic Centers
4.Research and Academic Institute
5.Others
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Artificial Organ Market Key Players
1. Baxter International Inc. (US)
2. Boston Scientific Corporation (US)
3. ALung Technologies, Inc. (US)
4. Zimmer Biomet (US)
5. MyLVAD Foundation, LTD (US)
6. Abiomed, Inc. (US)
7. Cleveland HeartLab, Inc. (US)
8. Edwards Lifesciences (US)
9. Ekso Bionics Holdings Inc. (US)
10.Jarvik Heart Inc. (US)
11.SynCardia Systems, LLC (US)
12.Abbott Laboratories (US)
13.Excorp Medical Inc (US)
14.Berlin Heart GmbH (Germany)
15.B. Braun Melsungen AG (Germany)
16.CEGLA Medizintechnik GmbH (Germany)
17.Fresenius Medical Care AG & Co. KGaA (Germany)
18.Carmat SA (France)
19.Defymed (France)
20.Getinge AB (Sweden)
21.F. Hoffmann-La Roche AG (Switzerland)
22.Medtronic PLC (Ireland)
23.Nikkiso Co. Ltd. (Japan)
24.Nipro Corporation (Japan)
25.Toray Medical Company Limited (Japan)
Asahi Kasei Medical Co. Ltd (Japan)
Terumo Corporation (Japan)
Key questions answered in the Artificial Organ Market are:
- What is Artificial Organ?
- What was the Artificial Organ market size in 2022?
- What is the growth rate of the Artificial Organ Market?
- Which are the factors expected to drive the Artificial Organ market growth?
- What are the different segments of the Artificial Organ Market?
- What growth strategies are the players considering to increase their presence in Artificial Organ?
- What are the upcoming industry applications and trends for the Artificial Organ Market?
- What major challenges could the Artificial Organ Market face in the future?
- What segments are covered in the Artificial Organ Market?
- Who are the leading companies and what are their portfolios in Artificial Organ Market?
- What segments are covered in the Artificial Organ Market?
- Who are the key players in the Artificial Organ market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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