Artificial Organs Market 2020 Statistics, Trend & Growth Forecast To 2025
Category: #headlines  By Ronak Bora  Date: 2020-07-13
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Artificial Organs Market 2020 Statistics, Trend & Growth Forecast To 2025

According to the latest research report, the global artificial organs market is expected to record 8.9% CAGR during the forecast period 2019-2025.  

Rise in the incidences of failing organs across the world coupled with the lack of organ donors will foster artificial organs market share over the forecast timeframe. There has been a rise in the prevalence of chronic diseases worldwide which has resulted in the increasing demand for organs. Rapidly advancing technologies in the field of medical bionics has helped introduce innovative technologies in the market.

There has been a significant growth in the general awareness among the population pertaining to artificial organ transplants and the associated benefits of swift recovery and better healthcare outcomes. Key players involved in the development and supply of artificial organs include SynCrdia, Ottobock, Ekso Bionics, Baxter International, Nipro Corporation, Berlin heart GmbH and Cochlear Limited.

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These players have been prioritizing the development of new products, acquisitions and mergers to be able to capitalize on the opportunities provided by the market and secure a competitive edge over other players in the market. Global artificial organs market size will observe a major gain and surpass USD 30.9 billion by the year 2025. Artificial organs are essentially engineered tissues as well as devices that are implanted in a human body, connecting with the living tissues/cells for the replacement of a missing organ in order to help the body perform its functions properly.

There is a waiting list for patients who need an organ transplant. with the list being usually longer than it is expected to be, accelerating the rate of mortality worldwide. According to a statement by the British Heart Foundation (BHF), the number of patients in the UK waiting for an organ transplant has witnessed a rise of 162% over the past decade. This has led to the surge in the prevalence of chronic diseases that include diabetes and other injuries from such diseases that will fuel artificial organs market forecast.

With the rise in technological advancements in the area of organs transplant, the rising use of bioartificial materials will trigger an increment in the market scope. Research and development for the improvement of the functions of artificial organs have been given basic priority according to the condition of the patients.

Rising  number of such disorders will need artificial organs transplant to help the body function smoothly. Artificial pancreas segment had been valued at USD 322.6 million in the year 2018 and is expected to observe a notable growth over the projected time period. With the rapid adoption of a sedentary lifestyle, increasing population of older people, surge in the number of road accidents and prevalence of chronic diseases, medical bionics in India will experience high growth in the near future.

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According to the reports by WHO, cardiovascular disorder (CVD) has been said to be the prime factor that has resulted in high rate of mortality in India. India medical bionics market size will register a profitable growth of 9.8% CAGR between 2019-2025. The country has also been expecting a rise in the awareness regarding artificial organs which will help boost the growth of associated businesses and the overall healthcare sector.

Partial Chapter of the Table of Content

Chapter 2.  Executive Summary

2.1. Artificial organs industry 3600 synopsis, 2014 – 2025

2.1.1.  Business trends

2.1.2.  Organ type trends

2.1.3.  Material type trends

2.1.4.  Regional trends

Chapter 3.  Artificial Organs Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 – 2025 (USD Million)

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.1.1.  Scarcity of organ donors globally

3.3.1.2.  Increasing incidence of organ failures

3.3.1.3.  Growing technological advancements

3.3.2.  Industry pitfalls & challenges

3.3.2.1.  Product failure after transplantation

3.3.2.2.  High cost of artificial organs

3.3.2.3.  Rising prevalence of infections due to material used for artificial organ development

3.4.  Growth potential analysis

3.4.1.  By organ type

3.4.2.  By material type

3.5. Competitive landscape, 2018

3.5.1.  Strategy dashboard

3.6. Organ transplant analysis, by region

3.7. PESTEL analysis

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/artificial-organs-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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