Artificial Organ and Bionics Global Market Report 2024

The artificial organ and bionics market has grown rapidly in recent years. It will grow from $30.32 billion in 2023 to $33.68 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth observed in the historical period can be attributed to several factors, including the increased prevalence of chronic diseases, ongoing advancements in medical innovation and research, the growing acceptance and practice of transplants, government initiatives and funding supporting these initiatives, and enhancements in biocompatibility, ensuring better integration of artificial organs and bionics within the human body.

The artificial organ and bionics market is expected to see rapid growth in the next few years. It will grow to $50.71 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. Anticipated growth in the forecast period is expected due to a surge in healthcare expenditure, the emergence of personalized medicine approaches, regulatory support leading to streamlined approvals, rapid advancements in 3D printing technologies, and increased collaborations and partnerships within the industry.

The anticipated rise in healthcare expenditure is poised to significantly drive the expansion of the artificial organ and bionics market moving forward. This expenditure encompasses the overall funds allocated towards healthcare, including private and public health insurance, health research, and public health activities. Investments in healthcare facilitate technological advancements, thereby fostering the development of more sophisticated and effective artificial organs. Such progress often involves enhancements in materials, designs, and manufacturing processes. As per the Centers for Medicare and Medicaid Services, a US-based federal agency, national health expenditures in the United States witnessed a 4.3% growth in 2022, marking an increase from the 2.7% growth observed in 2021. Hence, the escalating healthcare expenditure is a significant driving force propelling the artificial organ and bionics market.

The burgeoning number of transplants is expected to be a pivotal driver propelling the growth of the artificial organ and bionics market in the foreseeable future. Transplantation involves surgical procedures wherein tissues or organs are transferred either between individuals or within the same body. Artificial organs serve the purpose of replacing damaged organs or emulating their specific functionalities, thereby aiding patients in resuming their normal lives. Notably, according to the United Network for Organ Sharing, a US-based non-profit entity, in 2022, the United States witnessed 42,887 organ transplants, marking a 3.7% increase from 2021. Additionally, over 25,000 kidney transplants were conducted in the United States, indicating a 3.4% rise from the previous year. Thus, the escalating number of transplants is projected to propel the artificial organ and bionics market growth.

Major corporate investments are steering the transformation of organ transplantation within the artificial organs and bionics market. These investments play a pivotal role in fostering the development of artificial organs, addressing the scarcity of donor organs by creating functional and biocompatible replacements. This not only offers hope to patients awaiting organ transplants but also holds the potential to revolutionize the landscape of transplantation medicine. An exemplar is the Government of Canada's investment of $2 million in April 2022 towards innovative organ and tissue donation projects, aimed at enhancing organ donation and transplantation efficacy in Canada. This funding aligns with the Networks of Centres of Excellence Program, dedicated to supporting organ donation and transplantation research.

Product innovation stands as a prevailing trend in the artificial organ and bionics market, with major companies actively developing novel products to maintain their market position. For instance, in September 2021, CARMAT, a US-based pioneer in designing and developing advanced total artificial hearts, introduced Aeson, the world's first bioprosthetic artificial heart. This breakthrough witnessed the initial implantation of Aeson in a female recipient, boasting a design compact enough to fit smaller chest cavities in women, thereby enhancing the chances of success. This innovation signifies a milestone in the realm of artificial heart technology, presenting promising advancements in the field.

In December 2022, Johnson & Johnson, a prominent healthcare products company based in the US, successfully acquired Abiomed Inc. for an undisclosed sum. This strategic acquisition is poised to expedite Johnson & Johnson's progress in providing cutting-edge medical technologies and advancing its MedTech business on a global scale. Abiomed Inc., also based in the US, operates within the sphere of artificial organs and bionics, making its acquisition a significant move for Johnson & Johnson as it aims to further its presence and innovation within this specialized domain.

Major companies operating in the artificial organ and bionics market report are Abiomed Inc., Baxter International Inc., Berlin Heart GmbH, Boston Scientific Corporation, Ekso Bionics Holdings Inc., Össur hf, Medtronic plc, Zimmer Biomet Holdings Inc., Abbott Laboratories, Edwards Lifesciences Corporation, iWalk Inc., Jarvik Heart Inc., SynCardia Systems LLC, Nipro Corporation, Open Bionics Ltd., Second Sight Medical Products Inc., Cochlear Limited, HeartWare International Inc., Cyberonics Inc., Getinge AB, Bornlife Prosthetic and Orthotic Inc., Sonova Holding AG, Touch Bionics Limited, Orthofix Medical Inc., Ottobock SE & Co. KGaA, Terumo Corporation, LivaNova PLC, MED-EL Elektromedizinische Geräte GmbH, Retina Implant AG, Stryker Corporation, Smith & Nephew plc.

North America was the largest region in the artificial organ and bionics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global artificial organ and bionics market report during the forecast period. The regions covered in the artificial organ and bionics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the artificial organ and bionics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Within this domain, the main products include artificial organs and artificial bionics. Artificial organs are devices utilized to replicate the functions of missing or impaired human organs or body parts. These can be categorized based on fixation types as either implantable or externally-worn, and further segmented into cardiac bionics and brain bionics. The technologies encompassed within this field encompass mechanical bionics and electronic bionics.

The artificial organ and bionics market research report provides artificial organ and bionics market statistics, including artificial organ and bionics industry global market size, regional shares, competitors with an artificial organ and bionics market share, detailed artificial organ and bionics market segments, market trends and opportunities, and any further data you may need to thrive in the artificial organ and bionics industry. This artificial organ and bionics market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The artificial organs and bionics market consists of sales of artificial hearts, total artificial hearts (TAH), artificial kidneys, artificial livers, ear bionics, vision bionics, orthopaedic bionics, and heart bionics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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