As per our research report, the Global Artificial Organs Market size is estimated to be growing at a CAGR of 9.2% from 2023 to 2030. An artificial organ is a medical device that is implanted or integrated into the body to imitate or enhance an organ's natural function. The report's scope includes organ support systems like dialysis and extracorporeal membrane oxygenation (ECMO) equipment in addition to implanted devices like pacemakers and fully artificial hearts. The major causes of organ failure are blood loss, substance abuse, severe trauma, and other acute illnesses. Additionally, unhealthy lifestyle choices like smoking, binge drinking, eating poorly, and inactivity have a big impact on organ function. The availability of state-of-the-art artificial support systems and improvements in healthcare facilities are also projected to boost demand for bionics and artificial organs.
The growing senior population throughout the world is mostly driving the demand for organ implants. Organ transplants are requested and received by people over 65 more frequently than ever before. The demand for artificial devices is greatest among the elderly since they are more likely to develop post-transplant malignancies. The HRSA predicts that 8,895 organ transplant procedures involving Americans over 65 will be performed in 2021 (as of April 2022, current projections have that number at 3,114). As a result, as people live longer and more people require organ donors, the need for artificial devices also increases. The field of organ transplantation needs 3D bioprinting since it is used to build prosthetic organs. 3D bioprinting is gaining popularity because it lowers the chance of organ rejection. Additionally, the development of artificial intelligence will revolutionize current trends in artificial gadgetry. Several countries are now concentrating on a technique that provides a personalized evaluation of organ and donation eligibility. When patients are deciding whether to accept donated organs or wait for better opportunities when it comes to organ retrieval, this tool will be extremely helpful.
The market demand for COVID-19 immunization has surged as a result of an increase in everyday cases around the globe. As a result, there will be greater demand for rapid diagnostic testing. For instance, multiple studies have shown that real-time PCR (RT-PCR) is the most practical and effective method for the diagnosis of COVID-19 testing. The sudden COVID-19 pandemic outbreak triggered the installation of severe lockdown measures in several countries, which led to the postponement of elective surgeries to lessen the risk of coronavirus infection. Due to COVID-19, it is now significantly more difficult for surgeons to execute artificial organ implants in an operating room free of infections. This damages the market.
A major factor propelling the market is the rise in chronic sickness instances that come along with a growing population of the anticipated period of 2022–2030, the market is increasing due to an increase in COVID-19 cases. Organ donors are in great demand right now. The market is being driven by the fact that patients must wait a year before obtaining an organ to treat their illness, but artificial organs help them while they wait to acquire real organs. The development of medical bionics, increased public awareness of artificial organs, an aging population, the popularity of home hemodialysis, an increase in accidents and major injuries, and more all support the artificial organ industry.
On the other hand, market growth is likely to be constrained by the high cost of the procedure and increased public awareness of the danger associated with artificial organs. A challenge for the artificial organ market is anticipated over the forecast period of 2022–2030 due to a lack of professionals with the required abilities.
Based on the product, with a market share of nearly 70.9 percent in 2022, artificial organs dominated the industry. The industry is expanding as a result of increased demand for liver, heart, kidney, and lung transplants. During the projection period, the artificial bionics segment is anticipated to see the quickest CAGR. The growing need for cochlear implants, eyesight, exoskeletons, limbs, and brain bionics are the main drivers of the market's expansion.
Based on the technology, with a market share of 67.1 percent in 2022, mechanical bionics prevailed. The prevalence of organ failure is increasing, and mechanical bionics are becoming more affordable. During the anticipated period, the artificial organs and bionics market is anticipated to develop at the fastest rate in the electronic bionics category.
Based on the region, the market was led by North America in 2022 with a share of 45.4 percent, and it is anticipated that this dominance will last the whole forecast period. The market in the Asia Pacific region is anticipated to expand at the quickest rate over the projected period. These nations have sizable populations and a high prevalence of chronic illnesses.
Companies playing a leading role in the global Artificial Organs market profiled in this report are Zimmer Biomet, Medtronic, Abbott, ABIOMED, INC, Berlin Heart Gmbh, and Biomet, Inc.
Artificial Organs
Kidney
Heart
Lungs
Liver
Pancreas
Artificial Bionics
Cochlear implant
Exoskeleton
Bionic limbs
Vision bionics
Brain bionics
Mechanical bionics
Electronic bionics
North America
Europe
Asia-Pacific
South America
Middle East and Africa
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