December 17, 2019
According to the latest study titled ‘Artificial Organs Market Size By Organ Type (Artificial Kidney, Artificial Liver, Artificial Lungs, Artificial Pancreas, Artificial Heart), By Material Type (Silicon, Plastic, Steel), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global artificial organs market is estimated to accumulate USD 30.9 billion by the year 2025.
Scarcity of organ donors as well as rising incidences of organ failure are expected to drive the demand for artificial organs market. Moreover, increasing prevalence of chronic disorders, higher awareness among population about artificial organs, and technical advancement in medical bionics are few rendering factors that will trigger the market growth further. However, high cost of product, in consort with reported probability of product failure after transplantation will impede the market expansion.
Based on organ type, artificial organs market is segmented into artificial kidney, artificial lungs, artificial liver, artificial pancreas, and artificial heart. As per the study, artificial pancreas market was valued at USD 352.6 million in 2018 and is anticipated to register an accelerated growth over the forecast period. Notably, extreme consumption of alcohol, rising incidences of diabetes, as well as family history of pancreatic disorders are major causes of chronic pancreatitis resulting in dysfunction of pancreas. As a result, the demand for organ transplantation for better functioning of the body among patients will fuel the segmental growth in the years to come.
Based on material, artificial organs market from steel segment is presumed to witness a growth rate of 9.1% over the analysis timeline, pertaining to its easy availability, good fabrication properties, low cost, higher strength, and biocompatibility.
Request sample copy of this Report@ https://www.marketstudyreport.com/request-a-sample/2361898/
Considering the regional landscape, India artificial organs market is anticipated to expand with a growth rate of 9.8% during the period of 2019-2025, due to growing occurrence of chronic disorders, booming geriatric population, rising number of road accidents, and adoption of sedentary lifestyle.
The prominent companies operating in the artificial organs market include Ekso Bionics, SynCardia, Ottobock, Nipro Corporation, Cochlear Limited, Berlin Heart GmbH, Medtronic, Baxter International, Zimmer Biomet, and Boston Scientific Corporation.
Frequently Asked Questions (FAQ) :