Global Artificial Organs Market

The Global artificial organs market was valued at US$ 13.76 Billion in 2017 and is expected to reach US$ 21.10 Billion by 2022 growing at a CAGR of 8.93% during the forecast period 2017-2022. An artificial organ is a man-made device that is fixed into a human to substitute a natural organ. Its purpose is to reinstate an explicit role so the patient may return to a regular life as soon as possible. They are mechanical devices which can temporarily or permanently substitute for a body organ.

Market Dynamics

The major factor driving the artificial organs market is the scarcity of organ donors for organ transplantation. The other factors influencing the growth include the rapidly aging global population, increasing technological advancements in the artificial organs sector, increasing number of people suffering from organ failures and rising incidents of motor accidents and other work-related accidents among others. Apart from this, it is evaluated that among the patients who require organ transplants, just 10% are provided with transplants and replacements which has resulted in a long waiting list for the transplants to take place. This has been a major getaway for the artificial organs market.

On the contrary, the growth of this market is constrained by various stringent regulatory requirements for use of artificial organs, the inherent expense of these products to the patients who need them, fear of device malfunction or failure, limited skilled personnel to carry out the procedures. There has also been huge criticism from few health sector experts advising against the use of artificial organs.

Market Segmentation

The market is segmented in terms of the product, technology, type of fixation and geography. On the basis of product, it is fragmented into artificial organs (heart, pancreas, kidney, liver & lungs) and bionics. By technology type, it is segmented into electrical & mechanical. Based on the type of fixation, the market is segmented into externally worn and implantable. By geography, the market is segmented into Asia-Pacific, Europe, North America and Rest of the world.

Regional/Geographic Analysis

The North American region accounts for the largest market share, followed by Europe due to the high per capita income in this region and the higher awareness levels among the population. Also, Asia-Pacific is a market with immense potential where the need for artificial organs is higher than other regions but has been penetrated only to a certain extent. There is great scope for new entrants in the emerging markets of Asia.

Opportunities

The market also throws up several opportunities with regard to the increase in income and growing demand in developing countries due to rise in awareness. In addition to this, the scope of artificial organs in therapeutics offers opportunities for the market players.

Key Players

Some of the major players in the market include Esko Bionics, F Hoffman-La Roche Ltd, Gambro AB, Iwalk Inc., Jarvik Heart, Lifenet Health, Medtronic, Nano Retina, Inc., Berlin Heart GmbH, Boston Scientific Corporation, Thoratec Corporation and Worldheart Corporation.

The report contains comprehensive analysis on:

--> Global paints and coatings Market Segments

--> Global paints and coatings Market Drivers, Restraints and Opportunities

--> Global paints and coatings Market Size & Forecast 2016 to 2022

--> Supply & Demand Value Chain

--> Global paints and coatings Current Trends

--> Competition & Major Companies

--> Technology and R&D Status

--> Porters Five Force Analysis

--> Strategic and Critical Success Factor Analysis of Key Players

Regional analysis for Feed Software Market includes

--> North America

>> US and Canada

--> Latin America

>> Mexico, Brazil, Argentina and Rest of Latin America

--> Western Europe

>> EU5 (Germany, France, Italy, Spain, U.K.)

>> Nordic Countries (Denmark, Finland, Norway, and Sweden)

>> Benelux (Belgium, The Netherlands, and Luxembourg)

>> Rest of Western Europe

--> Eastern Europe

>> Russia

>> Poland

>> Rest of Eastern Europe

--> Asia Pacific

>> China

>> India

>> Japan

>> Australia and New Zealand

>> Rest of Asia Pacific

--> Middle East and Africa

>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)

>> South Africa

>> North Africa

>> Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.

Report Highlights::

--> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)

--> Consumer and Pricing Analysis

--> Market dynamics of the industry

--> In-depth Market Segmentation

--> Historical and Projected Market Sizing in terms of volume and value

--> Recent market trends and Impact Factors

--> R&D Status and Technology Overview

--> Extensive Industry Structure Coverage