April 24, 2024

Artificial Organs Market Size to Attain USD 60.82 Billion by 2033

The global artificial organs market size was estimated at USD 25.69 billion in 2023 and is predicted to hit around USD 60.82 billion by 2033, growing at a CAGR of 9% from 2024 to 2033.

Key Points

  • North America held the largest market share of 37% in 2023.
  • Europe is expected to gain a significant market share during the forecast period.
  • By organ type, the liver segment is expected to hold a significant market share over the forecast period.
  • By organ type, the kidney segment is expected to grow at a notable rate in the upcoming years.
  • By material type, the silicon segment dominated the artificial organs market in 2023.
  • By material type, in 2023, the plastic segment was estimated to hold a significant market share.

Artificial Organs Market Size 2024 to 2033

The artificial organs market is witnessing significant growth globally, driven by advancements in medical technology and increasing prevalence of organ failure. Artificial organs, also known as bioartificial organs or synthetic organs, are designed to mimic the function of natural organs in the human body. These devices play a crucial role in improving the quality of life for patients suffering from organ failure or dysfunction. The market encompasses a wide range of artificial organs, including artificial hearts, kidneys, lungs, liver, pancreas, and others. With the growing demand for organ transplantation and the shortage of donor organs, artificial organs offer a promising solution to address the unmet medical needs of patients worldwide.

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Growth Factors:

Several factors contribute to the growth of the artificial organs market. Technological advancements in biomaterials, tissue engineering, and 3D printing have enabled the development of more sophisticated and functional artificial organs. These innovations have significantly improved the biocompatibility, durability, and performance of artificial organs, enhancing their acceptance and efficacy in clinical settings. Moreover, increasing investments in research and development by both public and private sectors have spurred innovation in artificial organ technologies, driving market growth. Additionally, rising incidences of chronic diseases such as cardiovascular diseases, renal failure, and liver failure, coupled with aging populations, are fueling the demand for artificial organs.

Region Insights:

The artificial organs market exhibits regional variations influenced by factors such as healthcare infrastructure, regulatory policies, and prevalence of chronic diseases. North America dominates the market, driven by high healthcare expenditure, advanced medical infrastructure, and favorable reimbursement policies. The region is also characterized by extensive research activities and collaborations between academic institutions, healthcare providers, and industry players, fostering innovation in artificial organ technologies. Europe follows closely, benefiting from a strong emphasis on healthcare research and development, along with a large patient population requiring organ transplants. Emerging economies in Asia Pacific, such as China and India, are witnessing rapid growth in the artificial organs market due to improving healthcare infrastructure, rising disposable income, and increasing awareness about organ transplantation.

Artificial Organs Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 9%
Global Market Size in 2023 USD 25.69 Billion
Global Market Size by 2033 USD 60.82 Billion
U.S. Market Size in 2023 USD 6.65 Billion
U.S. Market Size by 2033 USD 15.75 Billion
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Organ Type and By Material Type
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Artificial Organs Market Dynamics

Drivers:

Several factors act as drivers for the artificial organs market. One of the primary drivers is the growing prevalence of chronic diseases leading to organ failure, such as cardiovascular diseases, diabetes, and chronic kidney disease. As the incidence of these conditions continues to rise globally, the demand for artificial organs as a treatment option is expected to increase significantly. Moreover, the shortage of donor organs for transplantation remains a major challenge, driving the need for alternative solutions such as artificial organs. Technological advancements enabling the development of more advanced and functional artificial organs are also driving market growth. Furthermore, favorable reimbursement policies and government initiatives aimed at promoting organ transplantation further support market expansion.

Opportunities:

The artificial organs market presents numerous opportunities for growth and innovation. Advances in tissue engineering and regenerative medicine hold promise for the development of bioartificial organs with enhanced functionality and compatibility. Integration of artificial intelligence (AI) and machine learning technologies into artificial organ systems could optimize performance and personalize treatment for patients. Furthermore, collaborations between industry players, academic institutions, and research organizations can accelerate the translation of research findings into clinically viable artificial organ products. Expansion into emerging markets with growing healthcare infrastructure and increasing healthcare expenditure presents untapped opportunities for market players to address unmet medical needs and diversify their revenue streams.

Challenges:

Despite the promising growth prospects, the artificial organs market faces several challenges. One of the primary challenges is the complex nature of organ physiology and functionality, making it difficult to replicate these characteristics in artificial organs. Ensuring the long-term safety, efficacy, and biocompatibility of artificial organs remains a significant challenge, requiring extensive preclinical and clinical testing. Moreover, regulatory hurdles and ethical considerations surrounding the use of artificial organs in clinical practice pose barriers to market entry and adoption. Additionally, the high cost of artificial organ transplantation and associated healthcare expenses may limit access to treatment, particularly in developing countries with limited healthcare resources. Addressing these challenges will be crucial for realizing the full potential of artificial organs in improving patient outcomes and addressing the global burden of organ failure.

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Recent Developments

  • In February 2024, the French medical technology company Carmat introduced a new software upgrade for its artificial heart, Aeson. With this update, the software of the artificial heart can identify potential malfunctions in real time and make necessary adjustments to ensure uninterrupted support for the patient.
  • In May 2023, Indegene announced an expansion of its partnership with ConTIPI Medical, a provider of non-surgical solutions for women with pelvic floor dysfunctions. Together, they plan to introduce a new device to the market.
  • In February 2022, Vanderbilt University Medical Center, Carnegie Mellon University, and Cornell University were awarded a four-year grant of USD 87 million from the Department of Defense Congressionally Directed Medical Research Program (CDMRP). The funding aimed to support the development of an artificial lung platform.
  • In January 2022, the School of Medical Research and Technology (SMRT) at IIT Kanpur launched a program called Hridyantra. This program uses a grand challenge-based approach to develop an advanced artificial heart or a left ventricular assist device (LVAD).

Artificial Organs Market Companies

  • ABIOMED
  • Berlin Heart
  • Zimmer Biomet
  • Boston Scientific Corporation
  • Cochlear Ltd.
  • Edwards Lifesciences Corporation
  • Ekso Bionics
  • Medtronic
  • Jarvik Heart, Inc
  • SynCardia Systems, LLC

Segments Covered in the Report

By Organ Type

  • Artificial Kidney
  • Artificial Liver
  • Artificial Lungs
  • Artificial Pancreas
  • Artificial Heart
  • Others

By Material Type

  • Silicon
  • Plastic
  • Steel
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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