The Global Market for Artificial Organs is Projected to Reach US$23.5 Billion by 2022

Scarcity of Donor Organs & Escalating Incidence of Organ Failure Drive Demand for Artificial Organs, According to a New Report by Global Industry Analysts, Inc. 

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Artificial Organs market. The global market for Artificial Organs is projected to reach US$23.5 billion by 2022, driven by increasing number of patients suffering from late-stage diseases, spiraling number of people awaiting donor organ transplants, and major strides in the research and technological front in biomedical science.

Owing to major strides made in biomedical science, organ transplantation has rapidly developed into a common medical practice across the world. The rising success rate of transplantation is encouraging patients to opt for donor organs. However, as organ recipients continue to increase, patient population on the waiting lists is also growing rapidly. The imbalance between number of receivers and donor organs has compelled the healthcare sector to search for other alternatives. With decades of research and advancements in technology, artificial organs have become the viable alternative to effectively address donor organ shortage problem. Artificial organs are man-made devices or machines that are integrated into the human body for replacing natural organs that are no longer able to perform their functions properly. Artificial organs, including artificial heart, kidney, liver, lung, and pancreas, are intended to be implanted into the human body to replace functions of the original organ and assist patients in living a normal life. Artificial organs have been radically changing the practice of medicine. Besides sustaining life and minimizing disease burden, artificial organs play a crucial role in enhancing patient quality of life.

The market is benefitting from the rising incidence of liver/kidney failures, respiratory conditions, cardiovascular diseases and cirrhosis. Aging population is acting as a prime catalyst for growth. As organ function decline with age, the risk of multiple organ failure is higher in the elderly. Growth in the market is also supported by continuous improvements in medical technology and robust investments in research and development in tissue bioengineering, innovative biomaterials and organ printing, among others. The market is on the cusp of significant transformation with the development of new advanced technologies that will play an influential role in future market growth. Artificial kidneys are forecast to continue dominating the market supported by the rising prevalence of renal failure, hypertension, high blood sugar, glomerular diseases, post-surgery infections, HIV, injury/burns, and other risk factors. Increasing incidence of acute renal failure along with renal disorders caused by lifestyle habits such as excessive consumption of alcohol will create strong demand for artificial kidneys.

As stated by the new market research report on Artificial Organs, the United States represents the single largest market worldwide, supported by aging baby boomer population coupled with the corresponding prevalence of cardiovascular, respiratory and renal conditions as well as rising incidence of occupation-related disabilities and age-related disorders. Developing economies are emerging as fast growing markets led by increasing disposable income, rising healthcare spends, improving healthcare infrastructure, growing scope of medical tourism, rising healthcare awareness, and supportive government initiatives.

Key players covered in the report include Abbott Diabetes Care Inc., Abiomed Inc., Asahi Kasei Medical Co., Ltd., Baxter International Inc., F.Hoffmann-La Roche Ltd., Fresenius Medical Care AG & Co. KGaA, HeartWare International Inc., Jarvik Heart Inc., Medtronic Inc., Nikkiso Co., Ltd., Nipro Corporation, SynCardia Systems Inc., Terumo Heart Inc., Thoratec Corp., Toray Medical Co., Ltd., Vital Therapies Inc., and Xenios AG, among others.

The research report titled “Artificial Organs: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product/service launches and strategic industry activities of major companies worldwide. The report provides market estimates and projections for major geographic markets including the US and Rest of World. Product segments analyzed in the report include Artificial Heart, Artificial Kidneys, Artificial Liver, Artificial Pancreas and Artificial Lungs. Additionally, the report analyzes Artificial Kidneys/ Dialyzers by major geographic markets including the US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East & Africa, and Latin America; and Insulin Pumps (External) market by Geographic Region – US, Europe and Rest of World.

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