Global Artificial Organs Market to Reach US$15.4 Billion by 2015

GIA announces the release of a comprehensive global report on Artificial Organs markets. The global market for artificial organs is forecast to reach US$15.4 billion by the year 2015. Factors fuelling market growth include graying population, increasing rate of success in organ transplantation, scarcity of donor organs, and increasing waiting list for organ transplantation. On the product side, technological advancements, cost benefits, and insurance coverage are some of the key drivers spearheading market growth.

Owing to major strides made in biomedical science, organ transplantation has rapidly developed into a common medical practice across the world. With increasing number of patients suffering from late-stage diseases, organ failure has become quite common globally. Meanwhile, the rising success rate of transplantation has been dramatically fuelling organ failure patients to opt for Organ Transplantation. However, as the organ recipients continue to increase, patient population on the waiting lists also has been growing rapidly. The imbalance between number of receivers and donor organs has compelled the healthcare sector to search for other alternatives, including artificial organs. With decades of research and advancements in technology, artificial organs have become the viable alternative to effectively address donor organ shortage problem.

Artificial organs have been radically changing the facet of medical technology industry. Besides sustaining life and minimizing disease burden, artificial organs have been playing a crucial role in enhancing patient’s quality of life. Additionally, artificial organs are not only enhancing patient outcomes and accelerating recovery times, but also minimizing the overall healthcare expenditure. In addition to external artificial assist devices, miniature size advanced implantable devices are also being developed. However, only few implantable devices have been approved for clinical use, while several other devices are still in clinical trials awaiting approvals. Nevertheless, it is opined that with developments in artificial organs, all human organs would eventually be replaced with artificial counterparts for permanent implantation to assist organ failure patients.

Buoyed by increasing number of patients on the waiting lists, artificial organs market is expected to bode bright prospects in the coming years. The increasing number of product approvals from the FDA and other regulatory authorities across the world would largely increase the number of artificial organ transplantations. New implantable artificial organs with excellent biocompatibility, durability and safety are immensely aiding to prolong life expectancy. Further, the emerging artificial organs market is on the cusp of significant transformation with the development of new advanced technologies that would play an influential role in future market growth.

Global market for artificial organs is led by Artificial Kidneys, as stated by the new market research report on Artificial Organs. In developed regions such as the US and Europe, poor lifestyle continues to be a major factor leading to renal failure, which makes an increasing number of people dependent on dialyzers at some point of time. Growth in the artificial organs market would however be spearheaded by Artificial Liver. Sales in the segment are projected to clock the fastest growth over the analysis period. Major strides in the field of bioengineering and technological advances are expected to develop implantable Artificial Pancreas in the coming years. Further, public and private collaborations are fuelling advancement towards artificial pancreas development. With over 100 million people across the world suffering from diabetes mellitus, artificial pancreas is expected to witness lucrative growth prospects. Artificial lungs market worldwide is projected to post a CAGR (compounded annual growth rate) of 7.5% during the analysis period.

Key players operating in the marketplace include Abbott Diabetes Care, Asahi Kasei Kuraray Medical Co. Ltd., Baxter International, F.Hoffmann-La Roche Ltd., Fresenius Medical Care AG & Co. KgaA, Gambro AB, Hepalife Technologies Inc., Jarvik Heart Inc., Medtronic Inc., Terumo Corporation, Thoratec Corporation, Toray Medical Co. Ltd., Vital Therapies Inc., WorldHeart Corp., Xenogenics Corp., SynCardia Systems Inc., among others.

The research report titled “Artificial Organs: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the artificial organs markets, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for the years 2009 through 2015 for five major artificial organs – artificial heart, artificial kidneys, artificial liver, artificial pancreas, and artificial lungs. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Artificial_Organs_Market_Report.asp