Artificial Organ Bank Market Size, Share, And Forecast Report 2032

Artificial Organ Bank Market Insights

According to a report from Zion Market Research, the global Artificial Organ Bank Market was valued at USD 29.17 Billion in 2023 and is projected to hit USD 59.54 Billion by 2032, with a compound annual growth rate (CAGR) of 7.4% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Artificial Organ Bank Market industry over the next decade.

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Artificial Organ Bank Market: Overview

Manufacturers and researchers are continuously focused on the development of artificial organs to improve their chances of acceptance by the receiver. Innovation in artificial organs delivers equally effective treatment solutions to patients that don't succeed in conventional organ transplants. Technological advancements in the making process like bioartificial organ manufacturing, standardization, and automation will further drive industry growth. 

The increase in the elderly population susceptible to organ failure alongside an increase in rates of renal failures & disorders as a result of excess consumption of alcohol will spur artificial organ bank market size within the years ahead,” claims the author of the synthetic organ bank market study. aside from this, a rise in the frequency of collisions and large demand for artificial organ transplantation is projected to expatiate the synthetic organ bank market growth within the ensuing years. additionally, growing health awareness among the people is expected to supply the artificial organ bank market with numerous growth opportunities within the near future.

Escalating prices of artificial organs, however, will restrict the evolution of the artificial organ bank market over the years to return. Nevertheless, firms are making tremendous efforts to manufacture artificial organs or bionics at affordable prices through the utilization of the latest technologies, thereby trying to normalize the impact of hindrances on the synthetic organ bank market, reports the study.

Artificial Organ Bank Market: Growth Factors

One of the most significant factors for market growth has been the increasing number of individuals undergoing transplant surgeries. Moreover, there is a considerably higher number of patients who are expecting a viable donor to undergo a transplant. within the US alone, around 123,000 people are in line to receive a transplant. consistent to CDC, around 21 people die a day due to the unavailability of the organ. Such developments have thus created an enormous requirement for artificial organs and thus have been the key driving factor for the event of the worldwide artificial organ bank market.

Artificial Organ Bank Market: Segmentation

Product Segment Analysis Preview 

Based on product artificial organ bank market is segmented into artificial organs and bionics. Artificial organs reduce the probability of organ rejection and provide an advantage in production. Consistent to the American Transplant Foundation, about 114,000 people are on the roll for organ transplantation and about 20 people die due to the inaccessibility of organs. With such growing demand for organ transplants, the market will witness significant growth as artificial organs help minimize donor organ dearth.

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Technology Segment Analysis Preview 

The artificial bionics segment is projected to witness the fastest CAGR over the forecast period. Major factors contributing to the expansion of the segment are the increasing demand for cochlear implants, vision, exoskeleton, limbs, and brain bionics. Favorable reimbursement policies and means of FDA approval for implants are further augmenting the expansion of the marketplace for artificial organs and bionics.

Artificial Organ Bank Market: Report Scope

Artificial Organ Bank Market: Regional Analysis

Regionally, North America has been leading the worldwide artificial organ bank market and is expected to continue in the dominant position within the years to return, states the synthetic organ bank market study. Huge funding of healthcare activities by the govt alongside massive investments in the R&D sector is the main factor behind the dominance of the North American artificial organ bank market. The introduction of the latest technologies in bionics also as artificial organ transplantation across the region alongside an outsized patient population base is another significant factor that's supporting the expansion of the artificial organ bank market in North America.

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Artificial Organ Bank Market: Competitive Players

Key participants profiled in the report include:

• Berlin Heart Gmbh
• Boston Scientific Corporation
• Biomet Inc.
• Edwards Lifesciences Corporation
• Ekso Bionics
• Heartware International Inc.
• Jarvik Heart Inc.
• Lifenet Health
• Medtronic Inc.
• Nano Retina Inc.
• Asahi Kasei Kuraray Medical Co. Ltd.

This report segments the artificial organ bank market as follows:

By Product

• Artificial Organ
  • Total artificial heart
  • Artificial liver
  • Artificial pancreas
  • Artificial lungs
  • Artificial kidney
• Bionics
  • Vision Bionic
  • Cardiac Bionic
  • Ear Bionic
  • Brain Bionic
  • Bionic Limbs

By Technology

• Mechanical Bionics
• Electronic Bionics

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa