Artificial Organ Market By 2023 - Artificial Heart & Artificial Kidney will Remain Most Lucrative Products

A recent report by Transparency Market Research (TMR) offers an in-depth analysis of the global artificial organ bank market. An artificial organ refers to a human-devised machine or equipment, inserted in a body as the replacement for the natural damaged organ, with an aim to restore functions associated with it. This helps patients to recover from suffering relatively faster than other methods employed for treatment of organ failure.

Special materials, called biomaterials, are employed for developing artificial organs, which are easily accepted by a human body. The artificial organs are stored in a various repositories across the globe, and these repositories are known as artificial organ banks.

Biomedicine Gaining Significant Traction in Treatment of Organ Failure

Over the recent past, necessity of organs for transplant have surpassed the supply of donated organs. The American Transplant Foundation in the U.S., has slated nearly 123,000 patients waiting for organ transplantation globally, and approximately 21 patients facing death owing to lower supply of organs for transplant.

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The organ scarcity has not been the only issue. A major concern is seeking the right organ suitable for a specific body. Biomedicine has gained significant traction by solving this issue. A category of medical science, biomedicine seeks biological, and natural-science values for clinical practice to develop artificial organs. Biomedicine enables delivery of right organ to a patient at the right time, emerging as a ray of hope for patients suffering from organ failure.

Scientists Carrying Out Researches in Biofuels that Enable Generation of Electricity from Human Body

The number of geriatric population across the globe is witnessing a significant surge, along with rising prevalence of various age-related disorders. In addition, increasing number of accidents caused by various reasons are resulting into several types of organ failures, for example – renal failure owing to casual lifestyle of people. A slew of technological advancements have been observed in artificial organs, with scientists across the globe carrying out various researches on biofuels that enable utilization of oxygen and glucose from human body for generating electricity. However, high cost of artificial organs, and the associated regulatory requirements, coupled with inadequate battery life of artificial organs are expected to remain major challenges for scientists while making developments.

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North America to Remain at Forefront of Global Artificial Organ Bank Market

North America will continue to be at the forefront of the global artificial organ bank market. Artificial heart, and artificial kidney are anticipated to remain the most lucrative products in the market. Artificial organs are integrated with either electrical technology, or mechanical technology. Among these two, electrical technology will gain higher traction in the near future. Various types of bionics currently available in the market include bionic limbs, brain bionics, cardiac bionics, ear bionics, and vision bionics.

TMR’s report has offered a complete analysis of current market trends. The future market prospects provided by the report are based on Porter’s five force analysis, recent developments in technology, and comprehensive profiles of leading market players. A review of macro and micro factors are also included in the report along with a detailed value chain analysis, which are essential for new market entrants as well as existing market players.

Key participants actively operating in the global artificial organ bank market include Berlin Heart GmbH, HeartWare, Inc., Asahi Kasei Medical Co., Ltd., Biomet Inc., Biomet, Inc., Thoratec Corporation, and ABIOMED, Inc.

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This release was published on openPR.