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Global Artificial Organs Market: Focus on Organ Type, Technology Type, Competitive Landscape, Pipeline Products Data, and 12 Countries Data - Analysis and Forecast: 2018-2023

Wednesday, January 9, 2019 General News
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NEW YORK, Jan. 8, 2019 /PRNewswire/ --
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Global Artificial Organs Market to Reach $5.37 Billion by 2023, Reports BIS Research

Read the full report: https://www.reportlinker.com/p05689861 The medical device industry is a multi-billion dollar market consisting of various verticals aimed at prolonging a patient's lives and improving the overall quality of lives.Foremost among the medical device innovation was the development of artificial organs as a substitute of organ transplants.Rapidly aging population worldwide and increased prevalence of lifestyle diseases have led to an increased number of people suffering from organ failures.However, the unavailability of adequate organs and huge scarcity of organ donors have resulted in a global concern regarding organ shortage.Thousands of people die every year while waiting for some vital organ transplantation.The advent of artificial organs as the potential replacement of organ transplants has given a new ray of hope to resolve the organ shortage crisis.Artificial organs are man-made engineered devices that can mimic vital organ function of the body. It is either an implantable or a wearable medical device or a combination of two and is designed based on mechanical, optical, electrical, and biophysical properties of the living organs.The market analysis of global artificial organs includes an in-depth examination of the key ecosystem players, and the key strategies and developments taking place in this market.Additionally, it includes market dynamics (market drivers, opportunities, and challenges), and industry analysis.Presently, the artificial organs market can be categorized into five major organ types that are commercially available.It includes artificial pancreas, heart, ear, eye, and urinary bladder.Considerable number of other artificial organs are presently in the pipeline, including artificial lungs, liver, kidney, and trachea that are expected to be commercialized in the upcoming years.Based on technology, the artificial organs market can further be sub-segmented into two broad categories: implantable devices and non-implantable devices.Geographically, the market can be segmented into five distinct regions including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World.The purpose of the study is to gain a holistic view of the global artificial organs market in terms of various factors influencing it such as key market trends, competitive and regulatory aspects of the market, and scientific innovations into oncology fields.The scope of the report is centered upon conducting a detailed study of the solutions allied with the global artificial organs market, which involves devices of different organ types.The global artificial organ market is segmented into three different parts: organ type, technology, and region.The report offers the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions.The research uncovers some of the substantial parameters that must be taken into consideration before entering the market.This research report aims at answering questions related to various aspects of the global market with the help of the key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.The study considers the growth-share matrix model for a comprehensive study of the global artificial organs market and assesses the factors governing the same.Opportunity matrix and detailed product mapping have also been included in the report. The market (by region) has been further sub-segmented in various countries, and in each sub-segment the key market trends, list of the key players, and the recent developments that have taken place, have been discussed.The answers to the following key questions can be derived from this report:• What are the artificial organs' key features which make them a suitable substitute to organ transplants?• What are the advantages of artificial organs over conventional organ transplants?• How did the artificial organs market evolve, and what is its scope in the future?• What are the major market drivers, challenges, and opportunities in the global artificial organs market?• What are the key developmental strategies which are implemented by the key players to stand out in this market?• What are the leading companies dominating the global artificial organs market?• How many types of artificial organs are available in the market, and which are the companies offering the artificial organs?• Based on organ type, which artificial organ type is anticipated to witness massive rise in the demand in the forecast period and in which region? • What are the different implantable and wearable artificial organs available in the market? Which technology between the two is leading and why?• What are investors' perceptions about the global artificial organs market? Also, what is the funding scenario of the market?• What are the key companies which made substantial investments to aid technological advancements in the market? • What are the regulations pertaining to the global artificial organs market? What are initiatives implemented by different government bodies to combat the shortage of organ crisis?• What was the market value of the leading segments and sub-segments of the global artificial organs market?• How will each segment of the global artificial organs market grow during the forecast period, and what will be the revenue generated by each of the segments by the end of 2023?• How will the industry evolve during the forecast period 2018-2023?• Which region will contribute to the highest sales of the global artificial organs market during the forecast period?• Which region carries the potential for the significant expansion of key companies for different artificial organ types?The key players that have been contributing significantly into the global artificial organs market include Advanced Bionics AG and affiliates, Boston Scientific Corporation, CARMAT, Cochlear Ltd., Dexcom, Inc., Insulet Corporation, KeraMed, Inc., MED-EL, Medtronic plc, Oticon Medical, PIXIUM VISION, Retina Implant AG, Second Sight Medical Products, Inc., SynCardia Systems, LLC, and Tandem Diabetes Care, Inc., among others.Executive SummaryOrgan transplantation is often regarded as a life-saving procedure for patients who are in urgent need to replace their degenerated or damaged organs.With growing geriatric population worldwide and increase in the prevalence of variety of diseases, the demand for organ transplants is increasing rapidly at a global level.According to the Global Observatory on Donation and Transplantation (GODT) analysis from 2010 transplant activity, there were 106,879 solid organ transplants performed in 2010, including 73,179 kidney transplants, 21,602 liver transplants, 5,582 heart transplants, 3,927 lung transplants, 2,362 pancreas transplants, and 227 small bowel.Despite enormous technological advancements in the field of transplantation, shortage of organs poses a critical challenge worldwide.Everyday there are thousands of people across the world waiting for organ transplants to get their non-functional organs replaced and often end up dying in the lack of a suitable organ donor. The U.S. Government Information on Organ Donation and Transplantation states that every ten minutes there is an addition of another person on the national transplant waiting list and 20 people die each day waiting for a transplant. Therefore, in order to meet the rising demand for organ transplants, there is a constant urge to develop an alternate transplantation option. The introduction of artificial organs in the medical device industry brought a new ray of hope to solve the global crisis of organ shortage.Artificial organs are engineered medical devices that can act as a substitute of organ transplant.These are the medical device solutions which are either implantable or wearable and can mimic the vital functions of critical body organs.Significant number companies and research institutes from across the globe are working actively to develop various artificial organs with the aim to eliminate the scarcity of organ donors. Currently, there are five major types of artificial organs available in the market including ear, eye, pancreas, heart, and urinary bladder, though there are several other products in the developmental stages.The purpose of the study is to gain a holistic view of the global artificial organs market in terms of various factors influencing it such as recent trends and technological advancements of the market.The scope of this report is centered upon conducting a detailed study of the devices allied with the artificial organs market including both commercialized products as well as products that are in the pipeline.The global artificial organs market is segmented into three different parts: organ type, technology, and region.The global market value was estimated using these three different approaches and was validated with one another.These segments are further segmented into several sub-segments to ease the market estimation.The global artificial organs market was estimated at $1.6 billion in 2017 and is anticipated to reach $5.37 billion by 2023. Among the different artificial organs available in the market, artificial ear contributed to the highest market share of the global artificial organs market in 2017. However, artificial pancreas is expected to witness the highest CAGR during the forecast period between 2018 and 2023. The presence of several artificial pancreas products in the pipeline attributes to the highest CAGR displayed by the artificial pancreas market. Based on technology, implantable devices occupied higher market share as compared to wearable devices, whereas wearable devices demonstrated the potential to register higher growth rate than implantable technology.The global artificial organs market is segmented by the geographical regions into North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW).The RoW region comprises Latin America and Middle East and Africa.North America is the leading contributor to the global artificial organs market with a contribution of more than 45% total artificial organs market share in 2017. The North America market is also expected to grow at a CAGR of 24.16% in the forecast period 2018-2023. The global artificial organs market is majorly dominated by the U.S. and the European players. However, several emerging countries of Asia-Pacific and Latin America displayed high potential to witness robust growth rate during the period. The Australia-based company, Cochlear Ltd. offering artificial ears contributed more than 50% of the market value in 2017.The key players who have significant contributions to the global artificial organs market are Advanced Bionics AG and affiliates, Boston Scientific Corporation, CARMAT, Cochlear Ltd., Dexcom, Inc., Insulet Corporation, KeraMed, Inc., MED-EL, Medtronic plc, Oticon Medical, PIXIUM VISION, Retina Implant AG, Second Sight Medical Products, Inc., SynCardia Systems, LLC, and Tandem Diabetes Care, Inc., among others.Countries Covered• North America• The U.S.• Canada• Europe• Germany• The U.K.• France• Italy• Sweden• Rest-of-Europe• Asia-Pacific• Japan• China• Australia• India• Singapore• Rest-of-Asia-Pacific• Rest-of-the-World• Latin America• Middle East & AfricaRead the full report: https://www.reportlinker.com/p05689861 About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001
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