Artificial Organs Market Growth Forecasted at 7.68% CAGR Through 2031
According to SkyQuest, the artificial organs market is projected to reach a value of USD 86.46 billion by 2031, growing at a remarkable CAGR of 7.68% from 2024 to 2031. This growth is driven by the increasing demand for organ transplants due to rising chronic diseases and a shortage of organ donors.
Technological advancements, including the use of 3D printing, are expected to open up new opportunities for companies in the artificial organs market. Mechanical artificial organs are dominating the industry due to their affordability, low risk of failure, and high reliability. These benefits, along with favorable reimbursement policies and regulatory approvals, are creating new avenues for companies in this sector.
Artificial bionics, which enhance the sensitivity of organs and physical structures, are in high demand, especially for trauma patients. With a growing number of surgical transplant procedures, North America leads in artificial organ sales. The region’s developed healthcare infrastructure, aging population, and favorable reimbursement systems contribute to its dominance in the market.
Several key players in the artificial organs market include Edwards Lifesciences Corporation, Cochlear Limited, Zimmer Biomet Holding Inc., and Boston Scientific Corporation, among others. Companies in this sector are focusing on addressing the growing demand for organ transplants and overcoming challenges like high costs, rejection risks, and post-operative complications.
If you want to secure your place in the artificial organs industry, now is the time to take action. For more information on this rapidly growing market, consider reading the Artificial Organs Industry Report today.
