The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s artificial organ market report forecasts the artificial organ market size to grow to $31.00 Billion by 2027, with a CAGR (compound annual growth rate) of more than 8%.

Learn More On The Artificial Organ Market Report 2023 – https://www.thebusinessresearchcompany.com/report/artificial-organ-global-market-report

Artificial Organ Market Size Forecast
The global artificial organ market is expected to grow from $20.37 billion in 2022 to $22.24 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global artificial organ market size is expected to grow to $31.00 billion in 2027 at a CAGR of 8.7%.

North America held the largest artificial organ market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Artificial Organ Market Driver ­– Rise In The Geriatric Population
According to the World Health Organisation (WHO), a Switzerland-based organisation responsible for international public health, the proportion of elderly people in each nation’s population will climb in October 2022, as will their overall number. There will be 1.4 billion persons over the age of 60 by 2030, up from one billion in 2020. By 2050, the world’s population of people aged 60 and up will have doubled (to 2.1 billion). The number of persons aged 80 and more is expected to more than double between 2020 and 2050, reaching 426 million. As a result, the growing senior population will fuel the artificial organ market.

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Key Artificial Organ Market Trend – Product Innovations
Major firms in the artificial organ market are focusing on providing innovative solutions to increase their market position. For example, ALung Technologies, a US-based medical equipment maker, said in December 2021 that their Hemolung respiratory support system, an artificial lung, had been approved by the Food and Drug Administration, a US-based regulatory organisation. This artificial lung device was created to treat COVID-19 patients without using a ventilator and causing more damage to their already taxed lungs, as well as to control their respiratory and metabolic function. It is simple, safe, and beneficial for a variety of uses, including cystic fibrosis and asthma.

Artificial Organ Market Segment
1) By Organ Type: Artificial Heart, Artificial Kidney, Artificial Liver, Artificial Pancreas, Other Organ Types
2) By Material: Silicone, Plastic, Steel, Biomaterials
3) By Fixation: Implantable, External
4) By End Users: Hospitals, Ambulatory Surgical Centers, Laboratories And Diagnostic Centers, Research And Academic Institute, Other End Users

Artificial Organ Market Major Players and Strategies
Major players in the artificial organ market are Medtronic PLC., Abbott Laboratories Ltd., ABIOMED Inc., Berlin Heart Gmbh, Boston Scientific Corporation, Edward Lifesciences Corporation, Jarvik Heart Inc., Baxter International Inc., B. Braun Melsungen AG, Asahi Kasei Medical Co. Ltd., Getinge AB, Zimmer Biomet Holdings Inc., Ekso Bionics Holdings Inc., Heartware International Inc., F. Hoffmann-La Roche Ltd., Carmat SA, Nipro Corporation, and Terumo Corporation.

Picard Medical Inc (a portfolio business of Hunniwell Lake Ventures LLC), a US-based biotech corporation, acquired SynCardia Systems LLC and its assets in September 2021 for an unknown sum. Picard Medical Inc now has access to technical and commercial skills, which will assist SynCardia Systems LLC grow. SynCardia Systems LLC is a company established in the United States that creates artificial human hearts to serve as a bridge to human heart transplants for those dying from end-stage biventricular failure.

The Artificial Organ Global Market Report 2023 covers regional data on artificial organ market size, artificial organ market trends and drivers, opportunities, strategies, and artificial organ market competitor analysis. The countries covered in the artificial organ market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

An artificial organ is a device that can be implanted or integrated into the human body to replace a natural organ, duplicate or augment a certain function, and allow the patient to resume normal life as soon as possible.

View More Reports Related To The Artificial Organ Market –
Medical Bionic Implant/Artificial Organs Global Market Report 2023
Artificial Intelligence Global Market Report 2023
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