China Artificial Organs Market to Witness Substantial Growth through 2025
Increasing pool of patients
suffering from organ failures and technological advancements in the bionics to
drive China artificial organs market
According
to TechSci Research report, “China
Artificial Organs Market By
Organ Type (Artificial Heart (Prosthetic Heart Valves, Ventricular Assist
Devices, Cardiac Pacemakers), Artificial Kidney, Artificial Pancreas,
Artificial Lungs, Cochlear Implants, Others), By Technology (Electronic
Bionics, Mechanical), By Type of Fixation (Wearable, Implantable), By Material
Type (Silicon, Plastic, Steel), By Region, Forecast & Opportunities, 2025”, the market
is anticipated to witness significant CAGR during the forecast period owing to
the increasing ageing population which is more prone to one or multiple organ
failure. Additionally, technological advancements in bionics sector of China is
one of the key factors supporting the growth of this market. Further,
increasing incidents of road accidents and severe injuries is posing a major
demand for organ donations, which is propelling the growth of artificial organs
market. The lack of sufficient number of organs donners is expected to drive
the market growth by 2025. Additionally, increasing per capita income of China
is enabling patients to opt for artificial organ transplant. Moreover, manufacturers are also using bioartificial
materials which has led to wide acceptance of artificial organs in the country.
With a long pool of patients waiting for organ donations, the market is
witnessing huge demand for artificial organs in order to reduce the mortality
rate. Furthermore, China is also witnessing high prevalence of chronic
disorders affecting one or multiple vital organs, which is anticipated to act
as a major factor supporting the growth of artificial organs market over the
coming years.
However, artificial organs market in China is also
facing some restrains. Presence of stringent regulatory framework for the use
of artificial organs and bionics in the country is expected to limit the growth
of this market. Further, significant rise in cases of product failure after
transplantation has led to criticism and fear among patients. Moreover, high
cost of artificial organs is also acting as a key factor restraining the growth
of this market in China.
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The China
artificial organs market is segmented based on organ type, technology, type of
fixation, material type and region. Based on organ type, the market is
segmented into artificial heart, artificial kidney, artificial pancreas,
artificial lungs, cochlear implants and others. Among these, the artificial
heart segment is further categorized into prosthetic heart valves, ventricular
assist devices and cardiac pacemakers. In China, there is an increasing demand
for artificial kidneys owing to the growing number of patients suffering from
kidney disorders, owing to which, the segment is expected to dominate the
market over the coming years. Based on material type, the China artificial
organs market is categorized into silicon, plastic and steel. Among them, the
silicon segment is anticipated to undergo fastest growth during forecast period
owing to their increasing acceptance. Additionally, silicon based artificial
organs are capable of enduring high temperature, hence manufacturers are using
them as the key material for manufacturing artificial organs.
Major players operating in the China artificial
organs market include Chengdu Baishixing Science & Technology Industry Co
Ltd, Regenovo Biotechnology, Sonova Holding Ltd, Cyfuse Biomedical, Nipro
Corporation, Medtronic, Boston Scientific Corporation, Terumo Corporation,
Tibion Corporation and Beta-O2. Leading companies are developing new organs
from lab cultured cells instead of using mechanical components. Other growth
strategies include mergers & acquisitions.
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“China
is one the leading markets for artificial organs in Asia-Pacific region. The
market is witnessing entry of new manufacturers who are using natural
biomaterials such as nanocomposites, polymers, and ceramics to manufacture
artificial organs. With latest technology and advancement in medical sector,
new biomaterials are being developed to create artificial organs. This is
anticipated to reduce the cases of product failure and reaction after organ
transplantation among the patients,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“China Artificial Organs Market By Organ Type
(Artificial Heart (Prosthetic Heart Valves, Ventricular Assist Devices, Cardiac
Pacemakers), Artificial Kidney, Artificial Pancreas, Artificial Lungs, Cochlear
Implants, Others), By Technology (Electronic Bionics, Mechanical), By Type of
Fixation (Wearable, Implantable), By Material Type (Silicon, Plastic, Steel),
By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of China artificial
organs market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in China artificial organs market.
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