New York, July 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Artificial Organs: Global Markets" - https://www.reportlinker.com/p06481552/?utm_source=GNW
Report Scope:
This report is a comprehensive study of the global artificial organs market.It describes the artificial organs market, segmented by product type and region.
Based on product type, the market is segmented into artificial hearts, artificial kidneys, artificial lungs, artificial pancreases, and cochlear implants. The market is segmented by region into North America, Latin America, Europe, Asia-Pacific, and the Rest of the World (RoW).
This report examines the factors driving growth in the artificial organ market, and it reviews major players, established companies, and new entrants.
This report, however, does not cover artificial limbs, artificial eyes, artificial intestines, artificial skin, or artificial blood vessels.
Report Includes:
- 28 data tables and 14 additional tables
- An overview of the global artificial organs market
- Analyses of global market trends, with data from 2020 to 2022, estimates for 2023 and projections of compound annual growth rates (CAGRs) through 2028
- Discussion about the benefits of using artificial organs over traditional organs in transplantation surgeries, and increase in development of new types of artificial organs as driving factors to the market
- Identification of challenges and discussion on how to overcome from those to reach its commercialization potential
- Insights into R&D investments, government growth-promoting policies, rules, and regulations
- Information on recent mergers, acquisitions, collaborations, agreements, partnerships, product launches, and expansions in the market and a relevant patent analysis
- Detailed company profiles of major players in the market, including Abbott, Getinge AB, LivaNova, Nipro Corp. and Sonova
Summary:
The global artificial organs market was valued at $REDACTED billion in 2022. The market is expected to reach $REDACTED billion by the end of 2028, growing at a compound annual growth rate (CAGR) of REDACTED% over the forecast period.
The increasing prevalence of organ failure, shortage of donor organs, technological advancements, and growing healthcare expenditure are the major factors driving the growth of this market.
The demand for organs is likely to rise in the future due to poor lifestyle habits such as excessive alcohol intake and smoking, which is leading to organ damage.The demand could also arise from accidents such as physical trauma.
The general deterioration of organs with aging and wear and tear could give rise to a demand for organs in older people. Other reasons include -
- Chronic diabetes and infection or prolonged blood pressure lead to chronic kidney failure.
- Inheritance of liver disease, viral infection, autoimmune diseases, liver cancer, or other toxins. These diseases cause the liver cells to die and scar tissue to form, resulting in loss of function.
- Chronic obstructive pulmonary disease (COPD), idiopathic pulmonary fibrosis, cystic fibrosis, or pulmonary hypertension gives rise to the demand for lung transplants.
- Diseases such as cardiomyopathy (where heart muscles are weakened or stiffened), myocarditis (inflammation of heart muscles), or coronary heart disease (blockages in blood vessels) could lead someone to require a heart transplant.
Growing awareness about the benefits of using artificial organs over traditional organ transplantation surgeries and an increase in R&D investments focused on developing new types of artificial organs is an additional factor propelling the growth of this market.
In 2022, the artificial kidney segment captured the highest share of the market, at about REDACTED%, followed by the artificial pancreas (REDACTED%), cochlear implant (REDACTED%), artificial heart (REDACTED%), and artificial lung (REDACTED%).
Read the full report: https://www.reportlinker.com/p06481552/?utm_source=GNW
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