Global Artificial Organs Market to Reach US$20 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

Share Article

GIA announces the release of a comprehensive global report on Artificial Organs markets. The global market for Artificial Organs is forecast to reach US$20 billion by the year 2017, primarily driven by the growing demand among patients for organ transplants. Additionally, technological advancements, cost benefits, aging population, and scarcity of donor organs are some of the other factors which are expected to fuel demand for Artificial Organs in the upcoming years.

Artificial Organs: A Global Strategic Business Report

Follow us on LinkedIn – With decades of research and advancements in technology, artificial organs have become the viable alternative to effectively address donor organ shortage problem. Artificial organs have been radically changing the facet of medical technology industry. Besides sustaining life and minimizing disease burden, artificial organs have been playing a crucial role in enhancing patient’s quality of life. Additionally, artificial organs are not only enhancing patient outcomes and accelerating recovery times, but also minimizing the overall healthcare expenditure. In addition to the external artificial assist devices, miniature size advanced implantable devices are also being developed. However, only few implantable devices have been approved for clinical use, while several other devices are still in clinical trials, awaiting approvals. Nevertheless, it is opined that with the developments in artificial organs, all human organs would eventually be replaced by their artificial counterparts for permanent implantation to assist organ failure patients.

The market for artificial organs, in the ensuing years, is expected to witness robust growth, primarily due to the ever increasing number of patients on the waiting lists for organ transplants. Further, the emerging artificial organs market is on the cusp of significant transformation, with the development of new advanced technologies that would play an influential role in future market growth. While only few products are presently approved by the FDA, other artificial organs are in developmental stage or under clinical trials. With commercialization of these life-saving, life-sustaining products for bridge as well as destination therapy, stupendous growth is likely to be witnessed by the artificial organs market.

Global market for artificial organs is led by Artificial Kidneys, as stated by the new market research report on Artificial Organs. In developed regions, such as the US and Europe, poor lifestyle continues to be a major factor leading to renal failure, which makes an increasing number of people dependent on dialyzers at some point of time. Growth in the artificial organs market, would, however be spearheaded by Artificial Liver. Sales in the segment are projected to clock the fastest growth over the analysis period. Major strides in the field of bioengineering and technological advances are expected to develop implantable Artificial Pancreas in the coming years. Further, public and private collaborations are fuelling advancement towards artificial pancreas development. With over 100 million people across the world suffering from diabetes mellitus, artificial pancreas is expected to witness lucrative growth prospects. Artificial lungs market worldwide is projected to post a CAGR of 7.81% during the analysis period.

Bioartificial organs are increasingly gaining prominence. After several decades of research, researchers are developing artificial organs by employing human or porcine cells. These cells, enclosed in a capsule, perform the functions of original human organs. Researchers are developing several bioartificial organs, including bioartificial kidney, liver, pancreas, and lungs. The bioartificial organs are intended to be used in patients suffering from organ failures as bridge to transplantation or long-term replacement devices. With increasing gulf between the donor organs and number of people requiring them, there lies a large potential market for bioartificial organs.

Key players operating in the marketplace include Abbott Diabetes Care, Asahi Kasei Kuraray Medical Co., Ltd., Baxter International, F.Hoffmann-La Roche Ltd., Fresenius Medical Care AG & Co. KgaA, Gambro AB, Alliqua Inc., Jarvik Heart Inc., Medtronic Inc., Terumo Corporation, Thoratec Corporation, Toray Medical Co., Ltd., Vital Therapies Inc., SynCardia Systems Inc., among others.

The research report titled “Artificial Organs: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the artificial organs markets, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for the years 2009 through 2017 for five major artificial organs – Artificial heart, Artificial kidneys, Artificial liver, Artificial pancreas, and Artificial lungs. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Artificial_Organs_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Follow us on LinkedIn

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website