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

Sun, 03 May 2020 12:32

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.

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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

Artificial Organs Market Segmentation

By Organ Type

  • Artificial Kidneys
  • Artificial Liver
  • Artificial Pancreas
  • Artificial Heart
  • Artificial Lungs
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East
  • Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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