According to Emergen Research, the global artificial organs market size was USD 18.49 billion in 2019 and is expected to reach USD 32.62 billion in 2027 and register a revenue CAGR of 7.3% during the forecast period, 2020-2027.
Emergen Research has published its latest report titled, “Artificial Organs Market By Organ Type (Artificial Kidney, Artificial Liver, Artificial Heart, Artificial Lungs, Artificial Pancreas, Others), By Usage (Implantable, Extracorporeal), By Material Type (Silicon, Plastic, Steel, Others), and By Region, Forecasts to 2027”
According to Emergen Research, the global artificial organs market size was USD 18.49 billion in 2019 and is expected to reach USD 32.62 billion in 2027 and register a revenue CAGR of 7.3% during the forecast period, 2020-2027.
Market Dynamics:
An artificial organ is a manmade organ or engineered device that is implanted into humans for interfacing with living tissues in order to replace damaged organs. These organs mimic the natural organ and are capable of performing a specific function that helps patients to lead a normal life. Over the recent years, there has been surging demand for artificial organs including kidney, lung, heart, and liver owing to increasing need for organ transplantations and rising shortage of organ donors. People worldwide are becoming aware of organ transplantation techniques. Factors such as rising prevalence of lifestyle-related disorders across the globe, rising cases of accidents and severe injuries, increasing need for organ transplantation are expected to fuel market growth during the forecast period. Other factors such as increasing acceptance of organ transplantation, favorable reimbursement schemes, and increasing focus on developing affordable and highly effective products are expected to fuel market growth going ahead.
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However, high cost of artificial organs, lack of well-trained healthcare professionals to carry out advanced surgeries, and inaccessibility to latest transplantation tools and techniques due to budget constraints are some factors expected to hamper overall market growth during the forecast period. Moreover, increasing prevalence of infections caused by the material, and high chances of product failure are also expected to restrain market growth going ahead.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Artificial Kidney Segment to Account for Largest Revenue Share:
The artificial kidney segment is expected to account for largest revenue share over the forecast period. Increasing prevalence of chronic kidney diseases, high blood pressure, and diabetes across the globe increasing need for kidney transplantation, and increasing awareness about organ translations and available treatment options are some factors expected to drive revenue growth of the segment.
Plastic Segment to Register Steady Revenue Growth:
The plastic segment is expected to register a steady revenue growth during the forecast period owing to its increasing organ transplants across the globe and high preference for plastic due to its advantages such as easy availability, cost-effectivity, and biocompatibility.
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North America to Lead in Terms of Revenue:
North America is expected to account for largest revenue share in the global market over the forecast period owing to increasing incidence of organ failure, presence of well-developed healthcare facilities, and availability of latest tools and techniques for organ transplantation procedures. In addition, increasing geriatric population, favorable reimbursement policies, and increasing investments in research and development activities are other key factors expected to boost market growth in North America.
Major Companies in the Market Include:
- Zimmer Biomet
- Ekso Bionics
- Boston Scientific Corporation
- Abiomed Inc.
- HeartWare International Inc.
- Cochlear Ltd.
- Berlin Heart GmbH
- Medtronic
- Nipro Corporation
- Baxter International Inc.
For the purpose of this report, Emergen Research has segmented the global artificial organs market on the basis of organ type, usage, material type, and region:
Organ Type Outlook (Revenue, USD Billion; 2017-2027)
- Artificial Kidney
- Artificial Liver
- Artificial Heart
- Artificial Lungs
- Artificial Pancreas
- Others
Usage Outlook (Revenue, USD Billion; 2017-2027)
- Implantable
- Extracorporeal
Material Type Outlook (Revenue, USD Billion; 2017-2027)
- Silicon
- Plastic
- Steel
- Others
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Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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