Asia-Pacific to Mark the Highest CAGR with All Good Reasons to Grow

Introduction

Asia-Pacific is the fastest-growing market for artificial organs. The region is the new age innovation hub for highly effective technologies with applications in healthcare, medicine, and medical devices. The affordability of medical and healthcare products manufactured in Asia-Pacific predominantly drives the market growth in the region.

The high prevalence of cardiovascular diseases, malnutrition, idiopathic pulmonary fibrosis, idiopathic pulmonary arterial hypertension, cirrhosis, hepatitis B and C, and Hemochromatosis, among other diseases, contributes to the demand for artificial organs in Asia-Pacific.

The affordability of medical and healthcare products and the availability of quality healthcare fuel medical tourism in Asia-Pacific. Patients from around the globe flock to Singapore, Thailand, and India for artificial organ replacement surgeries, which augments Asia-Pacific’s artificial organs market.

Key Highlights

• The global artificial organs market was valued at USD 21,534.2 million in 2019 and is expected to grow at a CAGR of 8.5% during the forecast period, 2020–2029
• The number of organ donors is abysmally low globally, which widens the gap between the number of organs available for transplant and the number of organs required, in turn translating to higher demand for artificial organs
• Ongoing R&D in 3D bio-printing is slated to pave way for market growth in years to come
• Ongoing and upcoming advancements in 3D printing and 3D bio-printing to enhance efficiency are expected to see Japan emerge as a significant value shareholder
• The demand for artificial kidneys and artificial liver is pegged to be the highest in Asia Pacific, attributable to the rising incidence of kidney and liver failure on account of increasing alcohol consumption.
• Increasing incidence of novel disease, epidemic, and pandemic outbreaks fuel the demand for artificial organs in China
• R&D by biomedical engineers in the production of human tissue for use in artificial organs to suppress immune response is expected to increase the acceptance of artificial organs by the body. Such developments will indubitably strengthen the artificial organs market’s growth prospects
• The focus on artificial organ technologies for preventive and therapeutic medicine is expected to create new growth avenues during the forecast period
• Some of the key players in the global artificial organs market include B. Braun Melsungen AG, Baxter International Inc., Boston Scientific Corporation, Getinge AB, and Medtronic PLC

Competitive Players

1. Braun SE (Germany)
2. Boston Scientific Corporation (U.S)
3. Getinge AB. (Sweden)
4. ABIOMED. (U.S.)
5. Asahi Kasei Corporation (Japan)
6. Berlin Heart (Germany)
7. CARMAT (France)
8. Jarvik Heart, Inc. (U.S.)
9. Terumo Corporation (Japan)
10. SynCardia Systems, LLC (U.S.)
11. Nipro Europe Group Companies (Japan)
12. Medtronic (Ireland)
13. Organovo Holdings Inc. (U.S.)
14. NexImmune (U.S.)
15. Diabeloop SA (France)
16. Admetsys (U.S.)
17. Defymed (France)
18. Pancreum, Inc. (U.S.)
19. Beta Bionics Inc. (U.S.)
20. Integra LifeSciences (U.S.) 

Recent Developments

Recent Developments

• April 2024- Medtronic announced the launch of the new Symplicity Spyral renal denervation system in Europe after receiving CE Mark approval. This device is intended for the treatment of hypertension, marking a significant step in the development of advanced artificial organs targeting chronic conditions.
• March 2024- Abbott introduced the latest version of its CentriMag Acute Circulatory Support System, featuring enhanced patient monitoring capabilities and improved biocompatibility. This system is designed to support patients with acute heart failure, offering temporary circulatory support.

Segmentation

Artificial Organs Market Segmentation

1. By Technology
   1. Mechanical bionics
   2. Electronic bionics
2. By Product
   1. Kidney
   2. Heart
   3. Lungs
   4. Liver
   5. Pancreas
   6. Artificial Organs
   7. Artificial Bionics
   8. Cochlear implant
   9. Exoskeleton
   10. Bionic limbs
   11. Vision bionics
   12. Brain bionics
3. By Type
   1. Artificial Heart
   2. Prosthetic heart valves
   3. Ventricular assistance devices
   4. Cardiac pacemakers
   5. Material Type
   6. Silicon
   7. Plastics
   8. Steel
4. By Organ Type
   1. Permanent Artificial Organs
   2. Temporary Artificial Organs