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Artificial Organ Market Size Forecasted To Achieve $38.18 Billion By 2029 With Steady Growth
Artificial Organ
What Is the Artificial Organ Market Size and Projected Growth Rate?
The dimension of the artificial organ market has witnessed significant expansion in the past few years. It is projected to escalate from $23.78 billion in 2024 to $25.93 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.0%. The upward trajectory during the historic period can be linked to the growing prevalence of organ failure, an escalating elderly population, enhancements in materials and biocompatibility, investments in research and development, and heightened awareness.
The market size of artificial organs is predicted to experience a surge in the upcoming years, reaching $38.18 billion in 2029 with a compound annual growth rate (CAGR) of 10.2%. The anticipated expansion during the forecast period is credited to the rising need for organ transplants, broader indications, the trend towards personalized medicine, heightened investment in healthcare infrastructure, along with improved acceptance and societal cognizance. Noteworthy trends anticipated within the forecast period encompass regulatory landscape changes, increased investment, advancements in personalized medicine, the incorporation of AI and machine learning, coupled with global collaborations.
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What Are the Major Segments in the Artificial Organ Market?
The artificial organ market covered in this report is segmented -
1) By Organ Type: Artificial Heart, Artificial Kidney, Artificial Liver, Artificial Pancreas, Other Organ Types
2) By Material: Silicone, Plastic, Steel, Biomaterials
3) By Fixation: Implantable, External
4) By End Users: Hospitals, Ambulatory Surgical Centers, Laboratories And Diagnostic Centers, Research And Academic Institute, Other End Users
Subsegments:
1) By Artificial Heart: Total Artificial Heart, Ventricular Assist Devices (VADs)
2) By Artificial Kidney: Hemodialysis Systems, Peritoneal Dialysis Devices
3) By Artificial Liver: Bioartificial Liver Devices, Liver Support Systems
4) By Artificial Pancreas: Closed-Loop Insulin Delivery Systems, Bionic Pancreas Systems
5) By Other Organ Types: Artificial Lungs, Artificial Skin, Bionic Eyes
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What Are The Driving Artificial Organ Market Evolution?
The artificial organ market is anticipated to grow due to the increasing geriatric population. The term geriatric population refers to individuals aged 60 and over who require medical care. Artificial organs offer vast benefits to the elderly, such as addressing health issues like organ failure, thereby enhancing their quality of life. For instance, the World Health Organization, a health agency based in Switzerland, reported in October 2022 that by 2030, one in every six people worldwide will be 60 or older. Moreover, the population in this age bracket is expected to double to 2.1 billion by 2050. Consequently, the expanding geriatric population will propel the growth of the artificial organ market.
Which Firms Dominate The Artificial Organ Market Segments?
Major companies operating in the artificial organ market include Medtronic plc, Boston Scientific Services Private Limited., Abbott Laboratories Inc., Zimmer Biomet Holdings Inc., Ekso Bionics Holdings Inc., Cochlear Limited, Cyberonics Inc., LIVANOVA plc, NeuroPace Inc., Ossur India Private Limited, Vivani Medical Inc., St Jude Medical India Private Limited, LifeNet Health Inc., Ottobock SE & Co. KGaA, Edwards Lifesciences India Pvt. Ltd., SynCardia Systems LLC, Demant A/S, Berlin Heart GmbH, Conmed Devices Private Limited, Wright Medical Group N.V., Baxter International Inc., B. Braun Melsungen AG, ABIOMED Inc., Carmat SA, Jarvik Heart Inc., Terumo Corporation, F. Hoffmann-La Roche Ltd., Tissium SAS, Organovo Holdings Inc., Satellite Bio, HeartWare plc, Arthrex Inc., Novartis AG, Stryker Corporation
What Trends Are Expected to Dominate the Artificial Organ Market in the Next 5 Years?
Establishing strategic alliances is a technique being employed by key players in the artificial organ market to boost technology amalgamation and broaden their market presence. A strategic alliance commonly denotes a cooperative interaction between two or more businesses, where they join their resources, know-how, and efforts to accomplish mutual aims or objectives. For example, in December 2022, Instalimb, a firm from Japan that manufactures 3D-printed prosthetic legs, formed an alliance with the respected Jaipur Foot, an orthotics and prosthetics business based in India. This partnership aims to use advanced 3D printing and machine learning (AI) technology to produce affordable and high-standard prosthetics and orthotics for patients worldwide. As part of this collaboration, Instalimb will furnish its 3D printed sockets to the Jaipur Foot Organization, which will subsequently adapt them for their patients.
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Which Is The Largest Region In The Artificial Organ Market?
North America was the largest region in the artificial organ market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial organ market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Artificial Organ Market?
2. What is the CAGR expected in the Artificial Organ Market?
3. What Are the Key Innovations Transforming the Artificial Organ Industry?
4. Which Region Is Leading the Artificial Organ Market?
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