Growth at a CAGR of 9% in the Artificial Organ Market during the forecast period of 2018-2023| Major Players - ASAHI KASEI MEDICAL CO. LTD, JARVIK HEART INC., TOUCH BIONICS, OSSUR, MEDTRONIC INC., LIFENET HEALTH, amongst others

Market Analysis:

North America to Dominate the Market
Due to increased incidences of organ failures, disabilities, and scarcity in the availability of donor organs, recent technological advancements, and the rapid rise of the geriatric population, North America dominates the market.

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Artificial organs that are manmade applications integrated into the human body, to replace natural organs. Artificial organs replicate the functioning of natural organs and enable patients to return to a normal life, as soon as possible. The lack of availability of potential organs to transplant has been a major issue of concern. There is an ever-increasing demand for organ donors, and this demand is very high when compared to the actual supply. It has been estimated that, owing to the scarcity of donor organs, among all the patients who need organ transplantation, only 10% are able to undergo the process. The increased incidence of disabilities and organ failures, technological advancements in the artificial organs sector, and rapidly aging population are some other drivers of the market.

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Market Segments
Artificial Organ Market is segmented by:
1. Organ Type: Artificial Heart, Artificial Kidney, Artificial Livers, Artificial Pancreas, Artificial Lungs
2. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Cost of the procedure is a major constraint for the artificial organ market. The high cost of these organs can be attributed to the production policies required to address the patients, taxpayers, and medical technology corporations. For instance, organ transplantation has several issues in the current market scenario, such as the policies for procurement, transplant tourism, organ trafficking, and others.
Additionally, fear of device malfunction and its consequences are also restraining the market’s growth.

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