Maximize Market Research, a top global provider of information and research on the regional and global aerospace and defence industry, has published a report on the Artificial Organ market. Along with other crucial business information, the report offers market sizes by area and projections until 2029.
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A variety of market and industry-related topics are covered in the report. A few marketing techniques include product launches, business expansion, alliances, joint ventures, and acquisitions. This study’s preparation has taken into account all crucial aspects of market research that are pertinent to the current state of the sector. The main business trends, difficulties, and opportunities are also included in this market research analysis. The aerospace and defence industry’s leading business consultant, Maximize Market Research, just released a report on the competitive environment and market intelligence for the Artificial Organ Market. An expert with 18 years of experience used primary and secondary data to examine the market from both a domestic and international perspective.
Artificial Organ Market size was valued at USD 26 Bn. in 2021 and the total Artificial Organ revenue is expected to grow by 10 % from 2022 to 2029, reaching nearly USD 55.7 Bn.
Artificial Organ Market Overview:
The fundamentals of the Artificial Organ Market may be better understood by undertaking a thorough statistical analysis of present and emerging trends. The study looks at Porter’s five forces in order to evaluate the significance of a number of factors, such as threats posed by various agents, competitive strength, and the comprehension of a resource by aspirant young firms. In order to determine the total market size by countries and market categories, the study examined each nation at the micro level. The size of the regional and global markets is calculated using a technique called “bottom-up” forecasting. How much the underground market contributes to the expansion of the larger market can be ascertained by performing a micro level examination of each nation. In-depth interviews with well-known local business owners supported the findings. Both for-profit and open-access sources provide the data that is used in secondary research, which is subsequently analysed. Actual government data, commercial databases, and annual reports of publicly traded companies are the sources for consumption by category and supply by each player in each nation.
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Artificial Organ Market Segmentation:
Based on Product, Artificial organs dominated the market in 2021, accounting for more than 70.9% of the total. Demand for kidney, heart, lung, and liver transplants is driving the segment’s growth. In the United States, the average median waiting time for a kidney transplant is 5 years. While on the waiting list, many factors are taken into account, including body size, blood type, distance from a donor, and severity of illness. As a result of the challenge of meeting unmet demand, manufacturers have developed bio-lungs, artificial pancreas, and wearable artificial kidneys. During the forecast period, the artificial bionics segment is expected to grow at the fastest rate.
The increasing demand for cochlear implants, vision, exoskeleton, limbs, and brain bionics are the primary factors driving the segment’s growth. Furthermore, favorable reimbursement policies and expedited FDA approval for implants are fueling the growth of the artificial organs and bionics market. For example, Cochlear Limited’s Cochlear Nucleus Implants were approved by the US Food and Drug Administration in January 2022 to treat unilateral hearing loss and single-sided deafness.
Regional Analysis:
- North America
- Europe
- Asia-Pacific
- Middle East and Africa (MEA)
- South America
The analysis of the Artificial Organ Market in the research considers cost structures, market shares, the producers’ supply networks, and the laws and regulations in effect at the time. By comparing the price of locally produced goods to the profit made, it is feasible to analyse the regional marketplaces for the Artificial Organ Market.
Artificial Organ Market Key players:
• Ekso Bionics Holdings Inc. (US) • Jarvik Heart Inc. (US) • SynCardia Systems, LLC (US) • Abbott Laboratories (US) • Excorp Medical Inc (US) • Berlin Heart GmbH (Germany) • B. Braun Melsungen AG (Germany) • CEGLA Medizintechnik GmbH (Germany) • Fresenius Medical Care AG & Co. KGaA (Germany) • Carmat SA (France)
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