Westford, USA, Nov. 25, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the artificial organs market size will attain a value of USD 86.46 billion by 2031, with a CAGR of 7.68% over the forecast period (2024-2031). Surging demand for organ transplants owing to the high incidence of chronic diseases and shortage of organ donors are slated to drive artificial organs market growth. Advancements in medical technologies and use of 3D printing technologies are expected to create new opportunities for artificial organs companies.
Browse in-depth TOC on “Artificial Organs Market”
- Pages – 182
- Tables – 97
- Figures – 76
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Artificial Organs Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 47.83 Billion |
| Estimated Value by 2031 | $ 86.46 Billion |
| Growth Rate | Poised to grow at a CAGR of 7.68% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Material Type, Technology, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | High demand for organ transplants |
| Key Market Opportunities | Use of 3D bioprinting technology and bioengineered tissues |
| Key Market Drivers | Shortage of donors and advancements in medical technologies |
Low Costs of Mechanical Technology Make it the Dominant Segment for Artificial organs Companies
High reliability, low risk of failure, and affordable nature are the top benefits of mechanical artificial organs allowing them to dominate the global artificial organs industry. Moreover, the high availability of better reimbursement policies for mechanical artificial organs and faster approvals from regulatory bodies are expected to create new opportunities for artificial organ companies targeting this segment going forward.
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High Emphasis on Improving Quality of Life for Trauma Patients is Boosting Demand for Artificial Bionics
Artificial bionics are bionic devices that not only recreate the physical structure of an organ but also enhance the sensitivity of organs. These devices are being used extensively for trauma patients faced with severe disability issues as the incidence of accidents and trauma cases rises globally. High demand for cochlear implants, vision, exoskeleton, limb, and brain bionics are slated to bolster the global artificial organs market outlook via this segment.
High Number of Surgical Transplant Procedures Help North America Lead Sales of Artificial Organs
The presence of a developed healthcare infrastructure, growing geriatric population, and high availability of favorable reimbursement are key factors helping the dominance of North America. Surging investments in medical R&D are also expected to create new opportunities for artificial organ providers. The United States and Canada are estimated to lead revenue generation and help North America hold a prominent artificial organs market share.
Artificial Organs Market Insights:
Drivers
- Growing demand for organ transplants
- High incidence of chronic diseases resulting in organ failure
- Advancements in medical technologies
Restraints
- High costs of prosthetics and surgeries
- Risk of rejection among certain patients
- Post-operation complications and risk of infections
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Prominent Players in Artificial Organs Market
- Edwards Lifesciences Corporation
- Cochlear Limited
- Zimmer Biomet Holding Inc.
- Jarvik Heart, Inc.
- Boston Scientific Corporation
- Berlin Heart GmbH
- SynCardia Systems LLC
- CARMAT
- BiVACOR Inc.
- AWAK Technologies
- Wearable Artificial Organs, Inc.
- Medtronic Plc
- ALung Technologies, Inc.
- Fresenius Medical Care
- Johnson & Johnson
- TransMedics, Inc
- Abott
Key Questions Answered in Artificial Organs Market Report
- Who are the top companies in the artificial organs industry?
- Why are sales of artificial organs rising rapidly?
- Which is the largest regional market as per this artificial organ market forecast?
- What are the key restraints for artificial organ companies?
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This report provides the following insights:
Analysis of key drivers (high demand for organ transplants, advancements in medical technologies), restraints (risk of failure and rejection, high costs of prosthetics and surgeries), and opportunities (use of 3D bioprinting technologies and bioengineered tissues) influencing the growth of artificial organs market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the artificial organs market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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