Artificial Organ Market Overview
This section provides a concise yet comprehensive overview of the Artificial Organ Market. It encompasses key trends, growth drivers, challenges, and opportunities within the market landscape. The overview serves as a starting point for understanding the market dynamics and sets the stage for deeper exploration in the subsequent sections of the report.
Market Values:
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.
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Artificial Organ Market Report Scope and Research Methodology
A thorough analysis of the regional environment is included, along with information on the potential, important growth indicators, geographical challenges, and threats facing the market. The following details are provided: a description of the company, its primary operations, total earnings and sales, revenue generated in the Artificial Organ market, the entry date into the Artificial Organ market, recent developments, and other details. The qualitative and quantitative approaches are analyzed in the Artificial Organ Market report. The analysis identified key upcoming developments that are expected to influence the Artificial Organ market demand during the forecast period.
Artificial Organ Market Regional Insights
The Artificial Organ market is broadly segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report includes a thorough analysis of all the factors, market size, market penetration, growth rate, and import and export in regions. The Regional Analysis used in the report to understand the Artificial Organ market status in various countries.
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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 over 70.9% of the market share, the artificial organs segment led the artificial organ market in 2022 based on product. The segment's growth is being driven by the need for transplants of the kidney, heart, lung, and liver. The median waiting period in the US is five years on average for a kidney transplant. Numerous factors are considered while on the waiting list, such as the severity of the illness, 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 over 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 options, mechanical artificial heart valves are in high demand. Fast FDA approvals and reimbursement practices are additional 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 fastest rate during 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)
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Key questions answered in the Artificial Organ Market are:
- What is Artificial Organ?
- What was the Artificial Organ market size in 2023?
- 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 are the recent industry trends that can be implemented to generate additional revenue streams for the Artificial Organ Market?
- What is the demand pattern of 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?
- What segments are covered in the Artificial Organ Market?
- What are the upcoming industry applications and trends for the Artificial Organ Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Artificial Organ Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by different segment | 2024−2030
- 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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