Press release
Global artificial organs market is expected to reach US$ 21.10 Billion by 2022 growing at a CAGR of 8.93% during the forecast period 2017-2022 :Top keyplayers are Esko Bionics, F Hoffman-La Roche Ltd, Gambro AB, Iwalk Inc., Jarvik Heart, Lifenet Health, M
The Global artificial organs market was valued at US$ 13.76 Billion in 2017 and is expected to reach US$ 21.10 Billion by 2022 growing at a CAGR of 8.93% during the forecast period 2017-2022. An artificial organ is a man-made device that is fixed into a human to substitute a natural organ. Its purpose is to reinstate an explicit role so the patient may return to a regular life as soon as possible. They are mechanical devices which can temporarily or permanently substitute for a body organ.
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Market Dynamics
The major factor driving the artificial organs market is the scarcity of organ donors for organ transplantation. The other factors influencing the growth include the rapidly aging global population, increasing technological advancements in the artificial organs sector, increasing number of people suffering from organ failures and rising incidents of motor accidents and other work-related accidents among others. Apart from this, it is evaluated that among the patients who require organ transplants, just 10% are provided with transplants and replacements which has resulted in a long waiting list for the transplants to take place. This has been a major getaway for the artificial organs market.
On the contrary, the growth of this market is constrained by various stringent regulatory requirements for use of artificial organs, the inherent expense of these products to the patients who need them, fear of device malfunction or failure, limited skilled personnel to carry out the procedures. There has also been huge criticism from few health sector experts advising against the use of artificial organs.
Market Segmentation
The market is segmented in terms of the product, technology, type of fixation and geography. On the basis of product, it is fragmented into artificial organs (heart, pancreas, kidney, liver & lungs) and bionics. By technology type, it is segmented into electrical & mechanical. Based on the type of fixation, the market is segmented into externally worn and implantable. By geography, the market is segmented into Asia-Pacific, Europe, North America and Rest of the world.
Regional/Geographic Analysis
The North American region accounts for the largest market share, followed by Europe due to the high per capita income in this region and the higher awareness levels among the population. Also, Asia-Pacific is a market with immense potential where the need for artificial organs is higher than other regions but has been penetrated only to a certain extent. There is great scope for new entrants in the emerging markets of Asia.
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Opportunities
The market also throws up several opportunities with regard to the increase in income and growing demand in developing countries due to rise in awareness. In addition to this, the scope of artificial organs in therapeutics offers opportunities for the market players.
Key Players
Some of the major players in the market include Esko Bionics, F Hoffman-La Roche Ltd, Gambro AB, Iwalk Inc., Jarvik Heart, Lifenet Health, Medtronic, Nano Retina, Inc., Berlin Heart GmbH, Boston Scientific Corporation, Thoratec Corporation and Worldheart Corporation.
The report contains comprehensive analysis on:
Global paints and coatings Market Segments
Global paints and coatings Market Drivers, Restraints and Opportunities
Global paints and coatings Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global paints and coatings Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Feed Software Market includes
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
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Report Highlights:
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R&D Status and Technology Overview
Extensive Industry Structure Coverage
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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