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Artificial Organ Market Size, Share Global Analysis Report, 2020–2026
Artificial Organ Market By Type (Artificial Kidney, Artificial Lungs, Artificial Heart, Artificial Livers, and Others), and By Fixation Method (Externally Worn, and Implantable): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Industry Insights
The artificial organ market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire artificial organ market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Billion) from FY 2016 – 2026.
This technical and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the artificial organ industry. The report analyzes and declares the historical and current trends analysis of the artificial organ industry and subsequently recommends the projected trends anticipated to be observed in the artificial organ market during the upcoming years.
Key Insights from Primary Research
- According to the primary CXOs of the global artificial organ market, the market is estimated to witness a substantial growth of nearly 3.5% over the forecast period due to surging demand for artificial organs globally.
- The market was valued at USD 18.07 billion, in 2019 and is expected to be valued at over USD 32.82 billion.
- On the basis of the product segment, artificial kidneys dominated the global artificial organ market in 2019. In terms of revenue, it accounted for more than a 30% share of the total market in 2019.
- Based on various fixation types, the global artificial organ market was led by the implantable in 2019. It accounted for more than two-third share of the total market in 2019.
- By geography, the North American region headed the market with a share of above 35%, in 2019. The U.S. is the largest contributor to the market in the region.
Key Recommendations from Analysts
- Our analysts recommend that the Asia Pacific region is predicted to witness significant growth attributed to the growing demand for artificial organs from China and India.
- According to our analyst, the artificial heart category is expected to be the fastest growing segment of the artificial organ market owing to the gaining popularity in the global artificial organs industry is the advent of total artificial hearts. Artificial hearts have started to emerge as a successful treatment option for end-stage biventricular heart failure patients.
- According to the American Transplant Foundation, in the United States, around 114,000 patients are waiting for organ transplants and more than 20 people are dying every day due to organ transplant shortages.
- According to industry experts, the growing penetration of bionics is a combination of electronics and biology. The bionics is expected to act as a substitute for the original body organ with a robotic version. This development is expected to accelerate the growth in the global artificial organ market over the forecast period.
- Emerging countries such as India, China, Brazil, South Korea are expected to witness lucrative growth of the market due to the rapid growth in the GDP of the countries along with the increase in spending on healthcare.
Market Share Analysis by Region
The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the artificial organ industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.
Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the artificial organ industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the artificial organ market.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the artificial organ industry. The artificial organ market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the artificial organ sector. Key strategic developments in the artificial Organ market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the artificial organ market are appropriately highlighted in the report.
The artificial organ market research report delivers an acute valuation and taxonomy of the artificial organ industry by practically splitting the market on the basis of different types, fixation methods, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the artificial organ industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the artificial organ industry is provided for the leading economies of the world.
Artificial organs are the equipment inserted into a human body to fill or operate a specific biological organ function. They are human-made products and the body's immune system does not refuse to accept these engineered organs. These machines do not have to be continually tied to a power source or any other static resource and can keep patients with severe organ failure safe and working for a long time.
The artificial organ market is segmented based on the type and method of fixation. On the basis of type segmentation, the market is classified into artificial kidneys, artificial lungs, artificial hearts, artificial livers, and others. In terms of the method of fixation segmentation, the market is bifurcated into externally worn and implantable.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 18.07 Billion |
Projected Market Size in 2026 |
USD 32.82 Billion |
CAGR Growth Rate |
6.6% CAGR |
Base Year |
2020 |
Forecast Years |
2020-2026 |
Key Market Players |
HeartWare International, Inc., Cochlear Limited, Baxter International Inc., Edwards Lifesciences Corp., Baxter International Inc., Fresenius Medical Care, Getinge AB, Boston Scientific Corporation, Medtronic PLC, Abiomed, Inc., B. Braun Melsungen AG, and Others. |
Key Segment |
By Type, By Fixation Method, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the essential players operating in the artificial organ market, but not restricted to include
- HeartWare International Inc.
- Cochlear Limited
- Baxter International Inc.
- Edwards Lifesciences Corp.
- Baxter International Inc.
- Fresenius Medical Care
- Getinge AB
- Boston Scientific Corporation
- Medtronic PLC
- Abiomed Inc.
- B. Braun Melsungen AG
- and Others
The taxonomy of the artificial organ industry by its scope and segmentation is as follows:
By Type Segmentation Analysis
- Artificial Kidney
- Artificial Lungs
- Artificial Heart
- Artificial Livers
- Others
By Fixation Method Segmentation Analysis
- Externally Worn
- Implantable
Regional Segmentation Analysis
- North America
- The U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
Table of Content
Industry Major Market Players
- HeartWare International Inc.
- Cochlear Limited
- Baxter International Inc.
- Edwards Lifesciences Corp.
- Baxter International Inc.
- Fresenius Medical Care
- Getinge AB
- Boston Scientific Corporation
- Medtronic PLC
- Abiomed Inc.
- B. Braun Melsungen AG
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