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 ...