Artificial Organ Bank Market Research Report by Regional Analysis - North America, Europe, Asia Pacific, Latin America, Middle East & Africa : forecast 2023

Organ necessity is surpassing the supply of donated organs. Even today there are loads of patients waiting for organ transplant but not everyone can get it done due to the low supply of organ transplant.According to the American Transplant Foundation in United States about 123,000 patients are waiting for organ transplantation and nearly 21 people die every day due to the scarcity of organ transplant. Not only the organ scarcity is an issue but also finding a right organ for the body is a major concern. To resolve this issue biomedicine is a growing shift in the science world.Biomedicine is a division of medical science which seeks biological and other natural-science values to clinical practice for developing artificial organs. Due to biomedicine right organ can be delivered to the patient at a right time. Thus biomedicine is a ray of hope to the ones who are suffering from organ failure.

An artificial organ is a human made device or machine which is inserted into human being to substitute the natural organ which is damaged, for the purpose of restoring the functions related to it, so that the patient may return to his normal life as early as possibleThe special materials used to develop artificial organs are biomaterials which are accepted by our body.

Artificial organ bank market is segmented into four types artificial organs (product type), technology, bionics and geography. The artificial organ market includes organs such as kidney, heart, liver, pancreas, blood vessels, eyes and ears.Heart and Kidney are the most developed and widely used artificial organs.Technology is segmented into electrical and mechanical. The market for bionics can be classified into vision bionic, ear bionic, cardiac bionic, brain bionic and bionic limbs.On the basis of the geography, the artificial organ market can be segmented into North America), Europe, Asia Pacific, Latin America and Rest of the World. North America dominates the market followed by the European region.

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The increasing number of dialysis,renal failure due to faulty lifestyle, rapid aging population and disorders, increase in the number of accidents, increase in the number of people waiting for organ transplantation are the main factors responsible to drive the market. The various technological development in artificial organ, scientist are carrying out various studies on biofuel cells which can utilize the glucose and oxygen from human body to generate electricity. These factors create an opportunity for artificial organ market. Theinadequate battery life, regulatory requirements of an artificial organ, high pricing of these products to the patients. Also the patient with the artificial organ cannot undergo other medical examination due to the magnetic reaction between the artificial organ and metal takes place. All these factors are responsible for hampering the growth of global artificial organ bank market

Some of the major players in the artificial organ bank market are ABIOMED, Inc., Thoratec Corporation, Biomet Inc., Asahi Kasei Medical Co., Ltd., HeartWare, Inc.and Berlin Heart GmbH.

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