Artificial Organs: Introduction
- Artificial organs consist of complex medical devices that have active biochemical or mechanical functions such as kidney, liver, lung, pancreas, heart, or neurosensory organs
- Artificial organs are can be both surgically implanted and extra corporal
- Artificial organs can also be defined as products that are aimed to be used for the regeneration, replacement, or support of damaged, diseased, or otherwise not fully functional organs
- Artificial organs are often characterized as the Holy Grail of bioengineering. It is an important research area that lies at the intersection of engineering, life sciences, and medicine.
- Patients are on a waiting list for a transplant organ due to severely diseases or damaged organs. The only way to survive for these patients could be the availability of artificial organs.
- One way of creating artificial organs is the use of cell therapy and/or tissue-engineering techniques. Additionally, medical device solutions based on physical, electrical, optical, mechanical, or other scientific characteristics can be applied along with combination products using distinct features from both cell products and devices.
- Numerous uses of artificial organs have been listed in various scientific research papers. According to an article published by Alliance of Advanced Biomedical Engineering, artificial organs could solve transplant shortages, also artificial womb raises hope for premature babies.
Key Drivers of Global Artificial Organs Market
- Rise in prevalence of cardiovascular diseases (CVDs) such as cardiac diseases, stroke, diabetes, hearing disorders, chronic kidney diseases, and a rise in the geriatric population is likely to drive the global artificial organs market during the forecast period
- Advent of total artificial hearts (TAH) is a major factor driving the artificial organs market. TAH has developed as an effective treatment option for patients awaiting orthotopic heart transplantation, and end-stage biventricular heart failure.
- BiVACOR’s has developed a total artificial heart (TAH) device. TAH is an option for patients with end-stage heart failure who do not qualify for transplants.
Artificial Kidney Segment to Dominate the Global Artificial Organs Market
- In terms of organ type, the global artificial organs market can be classified into artificial lungs, artificial liver, artificial pancreas, artificial kidney, artificial heart, and others
- The artificial kidney segment is expected to dominate the global artificial organs market during the forecast period. According to the U.S. Government Information on Organ Donation and Transplantation, over 112,000 candidates for transplant are on the U.S. national waiting list as of March, 2020. Of which, about 83.1 % people are waiting for kidney transplants. Additionally, an estimated 23,401 kidney transplants followed by 8,896 liver transplants were performed in the U.S. in 2019.
Hospitals Segment to Offer Attractive Opportunities
- In terms of end-user, the global artificial organs market can be segregated into hospital hospitals, ambulatory surgical centers, and others
- The hospitals segment is expected to offer significant opportunities during the forecast period. Dominance of the segment can be attributed to higher number of organ transplants performed in hospital settings.
North America to Dominate the Global Artificial Organs Market
- In terms of region, the global artificial organs market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global artificial organs market during the forecast period.
- Technological advancements in healthcare facilities and high incidence and prevalence rate of chronic diseases are expected to drive the artificial organs market in the region during the forecast period
Key Players Operating in Global Artificial Organs Market
The global artificial organs market is fragmented with the presence of international as well as local players. Key players operating in the global artificial organs market are:
- Baxter International Inc.
- Boston Scientific Corp.
- Cochlear Ltd.
- F. Hoffmann-La Roche Ltd.
- Fresenius Medical Care AG & Co. KGaA
- Medtronic Plc
- Nipro Corp
- Abbott Laboratories
- Asahi Kasei Corp.
- B. Braun Melsungen AG
Global Artificial Organs Market: Research Scope
Global Artificial Organs Market, by Organ Type
- Artificial Lungs
- Artificial Liver
- Artificial Pancreas
- Artificial Kidney
- Artificial Heart
Global Artificial Organs Market, by Method of Fixation
- Externally Worn
Global Artificial Organs Market, by Technology
Global Artificial Organs Market, by End-user
- Ambulatory Surgical Centers
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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- Latin America
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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