The report of Global Artificial Organs Market by Type (Artificial Heart, Artificial Eye, Artificial Pancreas, Artificial Ear, Artificial Kidney, Artificial Urinary Bladder, Others), Technology (Mechanical, Electronic), Method of Fixation (Implantable, Externally Worn), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ XX Bn. by 2027, at a CAGR of 8.3 % during a forecast period.
The scope of the MMR report includes a detailed study of global and regional markets for artificial organs market with the reasons given for variations in the growth of the industry in certain regions. Rapidly aging worldwide population and a subsequent upsurge in the number of people suffering from organ failures represent the major factors driving the artificial organs market globally.
On the other hand, product failure after transplantation and organ susceptibility to infections because of material used in the development of artificial organs will hinder the market growth to a certain extent. Also, the high cost related to artificial organ transplantation will further hamper business growth.
Artificial Kidney segment is expected to grow at the largest CAGR of XX.29% during the forecast period.
Artificial Kidney segment is estimated to account for the largest share of the artificial organs market in 2019. International Society of Nephrology stated that approximately 850 million people globally suffer from kidney disorders that are roughly double the number of people diagnosed with diabetes. Nearby 10.5 million people need transplantation or dialysis.
North America region is expected to account for the largest XX.50% market share by 2027.
North America is expected to continue to hold the largest XX% share in the artificial organs market thanks to the rising number of organ failures, immense technological advancement, and presence of major companies in the market will significantly augment regional growth. According to, National Kidney Foundation, chronic kidney disorders affect approximately 15% of the total the US population. With respect to growing organ failures, there is a scarcity of organ donors, thereby augmenting the use of medical bionics to decrease the rate of mortality between the patients.
Key players operating in the Global Artificial Organs Market are, Abiomed, Inc., Berlin Heart Gmbh, Biomet, Inc., Boston Scientific Corporation, Cochlear, Ltd., Edwards Lifesciences Corporation, Ekso Bionics, Heartware International, Inc., Jarvik Heart, Inc., Lifenet Health, Med-El Elektromedizinische Geräte G.M.B.H., Medtronic, Inc., Nano Retina, Inc., and others.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Artificial Organs Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Artificial Organs Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Artificial Organs Market positioning of competitors.
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