Artificial Organs Market was valued at USD 30 Billion in 2022 and is projected to reach USD 55 Billion by 2030, growing at a CAGR of 8% from 2024 to 2030.
As the industry progresses towards 2023 and beyond, demand is expected to escalate further, reaching an estimated USD 60 billion by 2033, with a strong CAGR of over 12%. Factors contributing to this growth include a significant rise in chronic diseases such as diabetes, cardiovascular diseases, and kidney failure, which have led to a higher demand for dialysis and organ transplants. Moreover, the ongoing research into bioengineering and 3D-printing technology holds great potential for developing personalized and more efficient artificial organs in the coming years. The major players in the market, including companies like Medtronic, Abbott Laboratories, and SynCardia Systems, are investing heavily in R&D, leading to new product developments and partnerships that will shape the market's future trajectory.
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The artificial organs market has witnessed substantial growth from 2018 to 2022, driven by advancements in medical technology, increased demand for organ transplants, and growing patient awareness of life-saving devices. With a global aging population and rising incidences of organ failure, the need for artificial organs has surged. In 2018, the market was valued at approximately USD 15 billion, and by 2022, it had grown to over USD 25 billion, marking a compound annual growth rate (CAGR) of around 11% during this period. This growth was mainly propelled by innovations in biocompatible materials, cutting-edge surgical techniques, and a rise in government initiatives to promote organ transplantation.
Edwards Lifesciences
LifeNet Health
Sonova
Orthofix Holdings
BionX Medical Technologies
Medtronic
Ekso Bionics
Gambro AB
Cochlear
HeartWare
Edwards Lifesciences
Nipro Corporation
Ottobock
Berlin Heart GmbH
Baxter International
Boston Scientific Corporation
Zimmer Biomet
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Artificial Organs Market
Hospitals
Clinical Research Institutions
Academic Center
Other
Based on Types the Market is categorized into Below types that held the largest Artificial Organs market share In 2023.
Silicon
Plastic
Metal
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Artificial Organs Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Artificial Organs Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Artificial Organs Market, By Type
6. Global Artificial Organs Market, By Application
7. Global Artificial Organs Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Artificial Organs Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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