Global Artificial Organ Technology market in terms of revenue is expected to grow at CAGR of 10.1% from 2018 to 2025, as per new market research report titled Global Artificial Organ Technology Market(by-product- artificial liver, artificial pancreas, artificial heart, artificial kidney, bionic limbs, and others. By technology- prosthetics and bionics.) – Global industry analysis, size, share, growth, trends, and forecast, 2017 – 2025, by Sheer Analytics & Insights Pvt. Ltd.
The artificial organ is a kind of synthetic tissue that is transplanted into the human body for replacing a natural organ which is already damaged. This artificial organ duplicates its specific function thus helping the patients to return to their natural self as sooner as possible. The artificial organ technology and its use have helped the patients in their search for the donors. The advent of artificial organ technology has lessened the need for the donors. The purpose of such technology is to prevent immediate death alongside improving the patient’s health.
The Global Artificial Organ Technology market is projected to have speedy growth with the rise of the geriatric population, organ failures, scarcity of donors, and higher motor related accidents. These are not only the reason behind the market growth but are also the key factors for the Global Artificial Organ Technology market and its growth. Another driving factor is the increasing public awareness about the medical advancements. Additionally, this market also includes the transplantation of the vital body organs such as the liver, heart, pancreas, and kidney. For other organs like ears, eyes, exoskeletons, and brains, the market is known as the bionics market.
Among all the global regions, the North American region holds the largest market share in the Global Artificial Organ Technology market. the only reason behind this is that North Americans are technically more advanced and could also afford such expensive treatments. This type of artificial organ replacement technology also has a massive impact on the Asia Pacific market. Growing population with an increase in different types of kidney, liver and heart diseases is creating an immense growth opportunity in the Asia Pacific and other European regions owing to the rapid advancements of the healthcare units.
In the recent market research reports that were published by Sheer Analytics & Insights, the global artificial organ technology market has been classified on the basis of its products and technology. The major products of the global artificial organ technology market include artificial pancreas, artificial liver, artificial heart, bionic limbs, artificial kidney, and others. On the basis of its technology, the market is divided prosthetics and bionics. The global market is also further bifurcated into geographical regions like North America, Middle East & Africa, Asia-Pacific, and Latin America.
Medtronic, Incorporated received approval for its latest medical technology- the Guardian Sensor 3. The Guardian Sensor 3 controls insulin delivery via the MiniMed 670G system, a hybrid closed looped system. This sensor is for people aged 14 and above with Type 1 diabetes. The Guardian Sensor 3 ensures a consistent and steadfast performance required for powering the MiniMed 670G system by incorporating diagnostic technology which monitors sensor health continuously.
Alejandro Galindo, president of the Intensive Insulin Management division within the Diabetes Group at Medtronic said, "We are steadfast in our commitment to delivering both best-in-class clinical outcomes as well as best-in-class experiences for our customers. We are inspired by the many voices in the diabetes community who continue to shape our offerings in a meaningful way as we work to address the wide spectrum of needs within the community. We are very pleased to offer this added flexibility for those who rely on our therapies for their diabetes management needs."
The major industry players in the global artificial organ technology market include prominent names like Biomet Inc., Baxter International Inc., Esko Bionics, Gambo AB, among others.
Global Artificial Organ Technology Market and its segmentation
Global Artificial Organ Technology Market: By Product
Global Artificial Organ Technology Market: By Technology
Global Artificial Organ Technology Market: By Geography
The Middle East and Africa
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