Artificial Organ Market worth US$ 55.5 Billion 2034 with a CAGR of 7.10%

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Published Date: February 2024

The report " Artificial Organ Market, By Organ Type (Artificial Heart [Prosthetic Heart Valves, Ventricular Assist Devices, and Cardiac Pacemakers], Artificial Kidney, Artificial Pancreas, Artificial Lungs, Cochlear Implants, and Other Organ types)and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030.

Key Highlights:

In January 2020, Medtronic Receives CE Mark for Cobalt™ and Crome™ Portfolio of BlueSync™ Enabled Implantable Defibrillators, Cardiac Resynchronization Therapy-Defibrillators. ICDs monitor heart rhythms and deliver therapy to correct heart rates that are too fast and can lead to sudden cardiac arrest.

Analyst View:

The ability of artificial organs to retain the normal functioning of human organs, either temporarily or permanently, will continue to be the strongest factor driving the demand for artificial organs across the globe. Increasing prevalence of chronic disorders that affect one or multiple vital organs is expected to be another demand for artificial organs. Technological advancements and rising acceptance of organ transplant technology worldwide will collectively boost the market further. Moreover, increasing awareness among the population will mark remarkable growth over the forecast period.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Artificial Organ Market, By Organ Type (Artificial Heart [Prosthetic Heart Valves, Ventricular Assist Devices, and Cardiac Pacemakers], Artificial Kidney, Artificial Pancreas, Artificial Lungs, Cochlear Implants, and Other Organ types) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key Market Insights from the report:

The artificial organ market accounted for US$ 55.5 billion in 2034 and is projected to register a moderate CAGR of 7.10% over the forecast period. The market report has been segmented on the basis of organ type, and region.

Based on organ type, an artificial kidney is expected to hold its highest market share in the organ type. More than 650,000 patients, per year, in the United States and an estimated 2 million patients worldwide are affected by the end-stage renal disease (ESRD).
Based on the region, North America currently dominates the market for artificial organs and is expected to continue its stronghold for a few more years. According to the recent report of the Organization for Economic Co-operation and Development (OECD), 2018, about 18% of the GDP is spent on healthcare. Out of this, a substantial part goes into transplants being performed in the United States. Therefore, the United States holds the largest share in the artificial organ market in the North American region.

Competitive Landscape:

The prominent player operating in the global artificial organ market includes B. Braun Melsungen AG, Baxter International Inc., Boston Scientific Corporation, Getinge AB, Medtronic PLC, Thoratec Corporation, Biomet, Inc., Berlin Heart GmbH, ABIOMED, Inc., and HeartWare, Inc...

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and sales performance of various companies
Detailed analysis of this market revenue in previous & next coming years
Examining various outlooks of the market with the help of Porter’s five forces analysis.
Study on the product type that is anticipated to dominate the market.
Study on the regions that are expected to register the fastest growth over the forecast period.

Key Topics Covered