Growing incidences of organ failure is one of the significant factors influencing the market growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, November 15, 2022 /EINPresswire.com/ -- Artificial Organs Market Share, Industry Growth, Trend, Drivers, Challenges, Key Companies by 2027
Growing incidences of organ failure is one of the significant factors influencing the market growth.
According to a recent analysis by Emergen Research, the worldwide artificial organs market is anticipated to reach USD 32.62 billion by 2027. The market is expanding quickly as a result of an increase in organ failure cases, particularly those involving the kidney, liver, heart, lungs, and pancreas, among other organs. Artificial organs have two main advantages over natural ones: they can be produced in large quantities and have a lower likelihood of being rejected by the body.
The main factors expected to promote the expansion of this market are new and improved technologies, an increase in organ failure due to ageing and age-related illnesses, an increase in accidents and injuries resulting in amputations, and an increase in the number of people waiting for organ transplants. However, a few crucial factors, such as the high cost of devices and the varying reimbursement policies across regions, the scarcity of surgical competence, and the expensive development costs, are limiting this market's expansion. Rising income levels and more consumer awareness in emerging markets are two factors that present chances for new entrants in this sector.
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In 2012, North America was the largest market for artificial organs, followed by Europe. However, because to a growing population and greater patient and industry knowledge, the use of innovative medical bionics as a form of therapy is quickly gaining traction in emerging economies. Additionally, rising healthcare costs, rising income levels, a preference for bionics over prosthetics due to their quicker and more effective recovery, an increase in surgical procedures in place of medical tourism, and less competition than in developed nations have all increased market players' interest in emerging markets.
Key Highlights from the Report
• The artificial heart is predicted to grow at the quickest pace of 8.7% among all organ types throughout the projected period. These have a number of potential advantages, including the capacity to support patients with biventricular failure, the absence of a pocket, which lowers the risk of infection, and the potential to treat patients with systemic diseases (such as cancer and amyloidosis), who are not considered suitable candidates for transplantation.
• Plastics are expected to see a substantial growth rate relative to other material types during the projected period. Although metal biomaterials like steel have outstanding mechanical properties, they do not have strong surface biocompatibility. Plastics, which are likewise more readily available and less expensive than metals, can be used to overcome this disadvantage of metals, which will increase demand for plastics in the market.
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.
Emergen Research has segmented the global artificial organs market on the basis of organ type, technology, material type, and region:
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
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Material Type Outlook (Revenue, USD Billion; 2017-2027)
• Silicon
• Plastic
• Steel
• Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
o U.S
o Canada
• Europe
o Germany
o UK
o France
o BENELUX
o Rest of Europe
• Asia Pacific
o China
o Japan
o South Korea
o Rest of APAC
• Latin America
o Brazil
o Rest of LATAM
• MEA
o Saudi Arabia
o UAE
o Rest of MEA
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Eric Lee
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Emergen Research
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
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