Vancouver, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The global artificial organs market is expected to reach USD 46.40 Billion by 2032, according to a new report by Emergen Research. The market is experiencing rapid growth attributed to growing incidences of organ failure, especially kidney, liver, heart, lungs, and pancreas, among others. The primary benefits of artificial organs are that they provide an opportunity for mass production, along with reducing the chances of rejection by the human body.
A rapid growth in demand for organ transplantation across the globe is owing to the growing prevalence of the failure of vital organs, along with the increasing success rate and improvement in post-transplant health conditions. Nevertheless, the lack of donors for transplantation to cater to the rising demand has led to a shortage crisis in the market for body parts transplantation. Thus, a significant rise in the number of patients waiting for a transplant and a rise in the mortality rate of patients due to the unavailability of organs for transplantation is driving the growth of the market.
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Scope of Research
| Report Details | Outcome |
| Market size value in 2019 | USD 18.49 Billion |
| CAGR (2023 - 2032) | 7.3% |
| Revenue forecast in 2032 | USD 46.40 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019 - 2021 |
| Forecast period | 2023 - 2032 |
| Quantitative units | Revenue in USD Millions, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Organ type, usage, material type, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Zimmer Biomet, Ekso Bionics, Boston Scientific Corporation, Abiomed Inc., Heartware International Inc., Cochlear Ltd., Berlin Heart GmbH, Medtronic, Nipro Corporation, and Baxter International |
| Customization scope | 10 hrs of free customization and expert consultation |
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Major Companies and Competitive Landscape
The leading players in the artificial organs market are equipped with enhanced production facilities and are involved in various R&D activities.
A few leading players in the artificial organs market include:
- Zimmer Biomet
- Ekso Bionics
- Boston Scientific Corporation
- Abiomed Inc.
- Heartware International Inc.
- Cochlear Ltd.
- Berlin Heart GmbH
- Medtronic
- Nipro Corporation
- Baxter International
Strategic Development
In February 2018, Medtronic made an announcement about the signing of a seven-year collaboration agreement with the Advanced Regenerative Manufacturing Institute. The partnership is signed to facilitate Medtronic in understanding the creation and production of patient-specific tissues and organs.
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Some Key Highlights from the Report
- By organ type, an artificial heart is estimated to witness the fastest growth rate of 8.7% in the forecast period. These have numerous prospective benefits, comprising the ability to support patients suffering from biventricular failure; without a pocket, thereby reducing infection risk; and the possibility for treating patients suffering from systemic diseases (for example, malignancy and amyloidosis), who not considered appropriate for transplantation.
- By usage, extracorporeal artificial organs are likely to grow at a significant rate in the period 2023-2032. These offer mass-transfer surgery to sustain impaired or failing organs encompassing kidney substitute, cardiopulmonary bypass (CPB), peritoneal dialysis, apheresis therapy, plasma separation, and lung substitute and assist.
- By material type, plastics are likely to witness a significant growth rate in the forecast period. The mechanical features of metal biomaterials such as steel are exceptional but do not possess good surface biocompatibility. This drawback of metals can be overcome by the use of biocompatible materials such as plastics, which are also available at a lower cost, thus boosting the demand for plastics in the market
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Emergen Research has segmented the global artificial organs market on the basis of organ type, technology, material type, and region:
- Organ Type Outlook (Revenue, USD Billion; 2019-2032)
- Artificial Kidney
- Artificial Liver
- Artificial Heart
- Artificial Lungs
- Artificial Pancreas
- Others
- Usage Outlook (Revenue, USD Billion; 2019-2032)
- Implantable
- Extracorporeal
- Material Type Outlook (Revenue, USD Billion; 2019-2032)
- Silicon
- Plastic
- Steel
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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