Artificial Organs Market | Size, Share, Trends and Forecast 2021-2026

Press Release:

Global Artificial Organs Market to Reach US$ 27.20 Billion by 2026, Facilitated by Shortage of Organ Donors

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Artificial Organs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Artificial organs are engineered devices that are implanted in a human body in order to replace a natural organ or perform a specific function. They are composed of the plastic that is seeded with stem cells from the transplant recipient, hence the body’s immune system does not reject the artificial organ. These devices do not require continuous tethering to a power supply or any other stationary resource and can keep patients with serious organ failure alive and functioning for years. According to IMARC Group’s latest report, titled “Artificial Organs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global artificial organs market reached a value of US$ 15.9 Billion in 2020.

Rapidly ageing global population and a subsequent increase in the number of people suffering from organ failures represent the key factors driving the artificial organs market. Frequent road accidents and injuries leading to amputations coupled with growing public awareness about advancements in the medical technology have resulted in the demand for artificial organs. On the other hand, high implantation cost and limited surgical expertise in most regions are expected to restrain the growth of the market. However, the unavailability and scarcity of organ donors at the time of requirement has encouraged the development of artificial organs technology across the globe. Looking forward, IMARC Group expects the global artificial organs market to reach a value of US$ 27.20 Billion by 2026, exhibiting a CAGR of 9.20% during 2021-2026.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global artificial organs market, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region and type.

Breakup by Type:

Artificial Kidney
Artificial Heart
Artificial Pancreas
Cochlear Implants
Others

The report has segmented the market on the basis of type including artificial kidney, artificial heart, cochlear implants, and artificial pancreas. Amongst these, artificial kidney represents the largest product type.

Regional Insights:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

On a regional-basis, the report covers North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Currently, North America dominates the market, followed by Europe and Asia-Pacific.

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Abiomed, HeartWare International, Inc., Edwards Lifesciences Corp, Boston Scientific Corporation, and Cochlear Limited.

This report provides a deep insight into the global artificial organs market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the artificial organs industry in any manner.

Key Questions Answered in This Report:

How has the global artificial organs market performed so far and how will it perform in the coming years?
What are the key regions in the global artificial organs market?
What has been the impact of COVID-19 on the global artificial organs market?
Which are the popular product types in the global artificial organs market?
What are the various stages in the value chain of the global artificial organs Market?
What are the key driving factors and challenges in the global artificial organs Market?
What is the structure of the global artificial organs market and who are the key players?
What is the degree of competition in the global artificial organs market?
How are artificial organs manufactured?