Global Artificial Organs Market to Grow at a CAGR of 6.8% During 2024-2032, Aided by the Growing Issues of Organ Failure

The global artificial organs industry is being driven by the rising incidences of organ failure as a result of growing chronic health issues among people. The shortage of critical organs due to a lack of suitable donors is leading to a heightened demand for artificial organs. Besides, the growing government expenditure to improve the healthcare infrastructure is expected to catalyse the market growth. Also, the rising geriatric population is driving the demand for organ transplantation surgeries, which is estimated to support the market in the coming years. Further, the rapid technological advancements such as the availability of 3D bioprinting solutions to help in the production of artificial organs are anticipated to prove beneficial for the growth of the market. In the forecast years, the rising consumer awareness regarding the availability of artificial organ transplantation services, along with improved living standards and rising disposable incomes is anticipated to supplement the market growth further.

The leading market players are making heightened investments to develop advanced artificial organs in an endeavour to treat a range of severe diseases through the adoption of advanced technologies such as 3D printing. This is expected to positively impact the growth of the market in the coming years. For instance, in May 2019, Organovo Holdings, Inc. (NASDAQ: ONVO), a biotechnology firm developing 3D bioprinted tissues, announced a collaboration with Professor Melissa Little at the Murdoch Children's Research Institute (MCRI), The Royal Children’s Hospital, Melbourne, Australia, and Ton Rabelink at Universiteit Leiden (LUMC), Leiden, Netherlands. This collaboration was aimed at expanding the usage of 3D bioprinted stem cell-based therapeutic tissues in treating end-stage renal disease. Under this collaboration, Organovo’s bioprinting platform was integrated with MCRI’s stem cell differentiation technology and LUMC’s cell lines and clinical expertise.

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Market Breakup by Classification, Type, Technology, Method of Fixation, and Region:

• The market is divided, based on classification, into temporary artificial organs and permanent artificial organs.

• On the basis of type, the market can be distributed into skin or soft tissue, internal organs, and sensory organs.

• Based on technology, the industry is segregated into mechanical and electronic. 

• The industry is segmented, on the basis of method of fixation, into implantable and externally worn.

• Region-wise, the global market for artificial organs can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for artificial organs is being driven by the rising number of organ transplantation surgeries.

• The growing government expenditure on strengthening the healthcare infrastructure, fuelled by the need for improved healthcare services, has significantly contributed to the market expansion. 

• A dearth of critical organs and suitable organ donors is also driving the demand for artificial organs, thus, adding to the industry growth. 

• The rapid technological advancements in the biotechnology sector and innovations in the production of artificial organs are further propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for artificial organs for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the classifications, types, technologies, methods of fixation, and regions of artificial organs.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global artificial organs market are SynCardia Systems, LLC, Berlin Heart GmbH, Carmat SA, Cochlear Ltd., and B. Braun Melsungen AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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