Artificial Organ Market Report Overview:

The aim of MMR's Artificial Organ Market report is to assist clients in making informed business decisions. This involves identifying areas that require improvement, recognizing already successful sectors, and aiding newcomers in navigating and establishing a competitive presence. Additionally, the report sheds light on the existing challenges within the Artificial Organ Market, thereby increasing Market players' awareness of potential hurdles.

Market Growth:

Artificial Organ Market size was valued at USD 31.46 Bn. in 2023 and the total market revenue is expected to grow by 10 % from 2024 to 2030, reaching nearly USD 61.30 Bn.

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Artificial Organ Market Segmentation: 

by Type

Artificial Organs
Kidney
Heart
Lungs
Liver
Pancreas
Artificial Bionics
Cochlear implant
Exoskeleton
Bionic limbs
Vision bionics
Brain bionics

With almost 70.9% of the market share, the artificial organs segment led the artificial organ market in 2023 based on product. The segment's expansion is being driven by the need for transplants of the kidney, heart, lung, and liver. The usual waiting period in the US is five years on average for a kidney transplant. Numerous considerations are considered while on the waiting list, including as the severity of the sickness, 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 throughout the course of the forecast period. The main drivers of this trend are the growing needs for cochlear implants, vision, exoskeletons, limbs, and brain bionics.

Furthermore, the bionics and artificial organ markets are expanding due to fast FDA approval of implants and advantageous reimbursement schemes. For instance, the US Food and Drug Administration authorized Cochlear Limited's Cochlear Nucleus Implants in January 2022 to treat unilateral hearing loss and single-sided deafness.

by Technology

Mechanical bionics
Electronic bionics

With 67.1% of the market share in 2023, 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 solutions, mechanical artificial heart valves are in high demand. Fast FDA approvals and reimbursement practices are other 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 quickest rate over the forecast period.

Around 190.5 million adults experience primary functional difficulty, out of the approximately 1.5 billion persons who are physically impaired. The majority of developing nations still confront formidable financial and logistical obstacles. The only choice available to many crippled persons is to get prostheses, such as artificial hands, arms, and legs. These prosthetics include of electrical systems and batteries that are myoelectrically regulated, allowing sensors to produce nerve movement. Artificial organs are able to move because to these sensory electrical technology. Machine learning, smart wearables, and element modeling are employed to accomplish mobility. Additionally, it is anticipated that the need for electrical bionics will be driven by an increase in traffic accidents, amputees, and those who are born without limbs.

by Material

Silicone
Plastic
Steel
Biomaterials

by End Users

Hospitals
Ambulatory Surgical Centers
Laboratories and Diagnostic Centers
Research and Academic Institute
Others

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Artificial Organ Market Scope and Research Methodology

The report offers a comprehensive analysis of trends, forecasts, and monetary aspects within the Artificial Organ industry. It delves into a detailed examination of segments and sub-segments within both global and regional Artificial Organ Markets. Employing a bottom-up approach, the report provides a nuanced understanding of Artificial Organ Market size estimations.

The Artificial Organ Market report encompasses essential details of key Market participants and new entrants, including services, revenue, financial status, portfolio, growth strategies, and regional presence. It presents demand projections, Market trends, and in-depth exploration of micro and macro factors that drive and constrain Artificial Organ Market growth. The report integrates qualitative and quantitative methods, employing research tools such as SWOT, PESTLE, and Porter's Five Forces to analyze the Artificial Organ Market. This comprehensive analysis identifies significant upcoming developments poised to impact Artificial Organ Market demand throughout the forecast period.

Artificial Organ Market Regional Analysis: 

Geographically, Artificial Organ Market report is segmented into following regions:

• Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
• Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
• North America (the United States, Mexico, and Canada.)
• South America (Brazil etc.)
• Middle East and Africa (GCC Countries and Egypt.)

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)
16.CEGLA Medizintechnik GmbH (Germany)
17.Fresenius Medical Care AG & Co. KGaA (Germany)
18.Carmat SA (France)
19.Defymed (France)
20.Getinge AB (Sweden)
21.F. Hoffmann-La Roche AG (Switzerland)
22.Medtronic PLC (Ireland)
23.Nikkiso Co. Ltd. (Japan)
24.Nipro Corporation (Japan)
25.Toray Medical Company Limited (Japan)
Asahi Kasei Medical Co. Ltd (Japan)
Terumo Corporation (Japan)

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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 are the factors restraining the growth of the Artificial Organ Market?
• What segments are covered in the Artificial Organ Market?
• Who are the Artificial Organ key players in the industry?
• What are the upcoming industry applications and trends for the Artificial Organ Market?

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Key Offerings:

• A detailed Market Overview
• Market Share, Size, and Forecast by Revenue|2024-2030
• Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
• Market Segmentation- A detailed analysis of each segment and their segments
• Competitive Landscape - Leading key players and other prominent key players.

About Maximize Market Research:

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