Growing Burden of End-Stage Diseases, Ever Increasing Waiting List for Organ Transplants & Worsening Organ Shortages Drive the Market for Artificial Organs

The global market for Artificial Organs is projected to reach US$26.04 billion by 2024, driven by rising incidence of diseases, increasing number of people on waiting list for donor organs, and impending launches such as wearable artificial kidneys and initiatives such as The Kidney project.

The artificial organs market globally is expected to post a healthy growth over the next decade due to the rising incidence of cardiovascular diseases, acute kidney failures and renal disorders, respiratory conditions, diabetes, and cirrhosis. Over the last several years, the healthcare sector has been witnessing a strong demand for artificial organs, owing to widening gap between the demand and availability of donor organs for organ transplantation surgeries. In addition, there is always a risk of rejection of the transplanted organ by the immune system of the recipient. Artificial organs are developed using biomaterials, which are non-living or living substances that are introduced in the human body as artificial organ for replacing an original organ or its functions. Continuously expanding base of geriatric population, increasing incidence of organ failure, man-made hazards and higher number of accidents are responsible for driving the demand for artificial organs. The market growth is also supported by continuous improvements in medical technology and increasing investments in the healthcare sector.

In the Artificial kidneys space, The Kidney Project gained attention with its groundbreaking research on the development of an artificial kidney, in February 2018. Upon receiving approval for human trials, and appropriate funding thereafter, commercialization of the device in the near future is expected to drive the artificial kidneys market.  Developments in the ‘Wearable Artificial Kidneys’ market is also a major driver.  Besides artificial kidney, advancements in other artificial organ spaces, such as artificial liver, pancreas and artificial lungs, are likely to drive the market growth.  Researchers from the Mayo Clinic undertook preclinical development of a bioartificial liver, termed the Mayo Spheroid Reservoir Bioartificial Liver (SRBAL). SRBAL showed higher levels of ammonia clearance than previously developed bioartificial liver, and is deemed to have high potential as bridge-to-transplantation device and also for long term support of liver failure patients so as to avoid transplantation.

As stated by the new market research report on Artificial Organs, the United States represents the single largest market worldwide, driven by aging baby boomer population, rising incidence of disease, and advancements undertaken in the various artificial organs space. Developing economies are emerging as fast growing markets led by improving healthcare infrastructure, rising healthcare awareness, and increasing disposable income. One of the notable developments that are likely to assist manufacturers is advent of the 3D bioprinting technology. An estimated 90% of organizations believe in the powers of 3D printing and are increasingly investing in 3D print solutions.

Key players in the market include Abbott., 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 Corp., SynCardia Systems LLC, Toray Medical Co., Ltd., and Xenios AG, among others.

The research report titled “Artificial Organs - Market Analysis, Trends, and Forecasts” 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.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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