Artificial Organs Market Trends, Share, Size, Growth and Forecast 2023-2028

The latest report by IMARC Group, titled “Artificial Organs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global artificial organs market size reached US$ 18.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.2 Billion by 2028, exhibiting a growth rate (CAGR) of 8.5% during 2023-2028.

Artificial organs are devices used to replace the functions of a defective or missing organ in the body. These devices include artificial hearts, livers, kidneys, pancreases, ears, hips, knees, and urinary bladders. They are made from a variety of materials including inanimate polymers, partially living cells, and biodegradable polymers or metals. Artificial organs help address transplant shortages and are designed to replicate the function of natural organs. Consequently, they are extensively used in hospitals, ambulatory surgical centers, diagnostic centers, and research institutes worldwide.

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Artificial Organs Market Trends and Drivers:

Currently, the increasing demand for artificial organs due to the rising prevalence of chronic diseases and organ failures worldwide is a key factor driving market growth. Additionally, the growing need for artificial organs resulting from the rising number of road accidents and severe injuries is contributing to a positive market outlook. Furthermore, technological advancements, such as three-dimensional (3D) bioprinting in artificial organs to reduce the risk of organ rejection, are providing a promising growth opportunity for industry investors. Moreover, the introduction of a total artificial heart (TAH) by key players to assist in diagnosing patients with end-stage biventricular heart failure is expected to further bolster market growth.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

• Artificial Kidney
• Artificial Heart
• Artificial Pancreas
• Cochlear Implants
• Others

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Competitive Landscape with Key Player:

• Abiomed Inc.
• Edwards Lifesciences Corp
• HeartWare International, Inc.
• Cochlear Limited
• Boston Scientific Corporation.

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