The global artificial organs and bionic implants market size was estimated to be USD 28.43 billion in 2023 and is expected to reach at USD 70.6 billion by 2033 with a CAGR of 8.62% during the forecast period 2023-2033. Surge in number of transplants, rising prevalence of organ failures, scarcity of organ donors, increasing lifestyle disorders such as smoking, unhealthy dietary habits, & excessive alcohol consumption, growing rates of road accidents leading to amputations, rising technological advancements, surge in development of advanced artificial support systems, increase in geriatric population, growing demand for artificial devices, rising advancements in the field of 3D bioprinting, increasing research & development activities, and surge in product approvals by regulatory bodies are the key factors boosting the market growth.
Increasing innovative product approvals by regulatory bodies is predicted to boost the market growth during the forecast period. For instance, in November 2022, Cochlear Limited obtained approval from the U.S. Food and Drug Administration (FDA) for the Cochlear Nucleus 8 Sound Processor, which has now become the most compact and lightweight behind-the-ear cochlear implant sound processor in the market. It also holds the distinction of being the first-ever cochlear implant sound processor to offer direct audio connectivity to commonly used consumer electronics through the advanced LE Audio technology of Bluetooth.
By Type, Artificial organs was the highest revenue-grossing segment in the global artificial organs and bionic implants market in 2022 owing to increasing demand for lungs, liver, kidney, and heart transplants and rising technological advancements. Additionally, Artificial bionics is predicted to grow at fastest CAGR during the forecast period owing to the growing demand for cochlear implants, vision, limbs, exoskeleton, and brain bionics, rising favourable reimbursement policies, and increasing FDA approval for implants. For instance, in January 2022, Cochlear Limited's Cochlear Nucleus Implants obtained approval from the U.S. Food and Drug Administration to address unilateral hearing loss and single-sided deafness.
By Technology, Mechanical bionics was the highest revenue-grossing segment in the global artificial organs and bionic implants market in 2022 owing to the growing prevalence of organ failure & the cost-effectiveness of mechanical bionics, increasing demand for mechanical artificial heart valve which lasts longer as compared to the other options, and rising product approvals by regulatory bodies. For instance, in September 2021, Abbott's Portico with FlexNav TAVR system has received FDA approval for the treatment of individuals with symptomatic aortic stenosis who may be at high or very high risk for open-heart surgery. Additionally, Electronic bionics is predicted to grow at fastest CAGR during the forecast period owing to the surge in number of road accidents, increasing prevalence of amputees & individuals born without limbs, rising demand of prosthetics such as artificial hands, arms, & legs, and growing technological advancements.
By End-user, Hospitals was the highest revenue-grossing segment in the global artificial organs and bionic implants market in 2022 owing to the increasing demand for artificial organs & bionic implants in hospitals, growing number of surgical procedures performed in hospitals, rising prevalence of organ failure, and surge in product approvals by U.S. Food and Drug Administration. For instance, in October 2022, Abiomed, a subsidiary of Johnson & Johnson, revealed that Impella RP Flex with SmartAssist has been granted pre-market approval (PMA) by the U.S. FDA, signifying the highest level of approval. It is deemed safe and effective for treating acute right heart failure for a duration of up to 14 days. The Impella RP Flex is inserted through the internal jugular (IJ) vein, allowing patients to remain mobile, and it incorporates dual-sensor technology aimed at enhancing patient care. Additionally, Ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to surge in number of ambulatory surgical centers in developed economies, rising awareness regarding ambulatory surgical centers, and increasing technological developments by market players.
North America region is anticipated for the highest revenue share during the forecast period owing to the growth in transplant surgeries, increasing prevalence of organ failure, rising need for artificial organs, presence of well-developed healthcare facilities, and surge in launch of technologically advanced products. For instance, in March 2022, Zimmer Biomet Holdings, Inc. launched WalkAI, an advancing AI system capable of identifying patients who are likely to experience reduced gait speed ninety days after undergoing hip or knee surgery. WalkAI complements ZBEdge, a collection of integrated smart, robotic technologies created to provide data-driven clinical insights to enhance patient outcomes, incorporating robust predictive analytics capabilities. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of chronic diseases that lead to organ failure, growing demand for kidney transplantation, rising technological advancements, and surge in research & development projects by market players. For instance, in January 2022, IIT-Kanpur initiated a project aimed at creating a state-of-the-art artificial heart. The project involves collaboration with several Indian hospitals and will be led by a team of experienced innovators chosen and mentored by a task force comprising industry experts.
Increasing innovative product approvals by regulatory bodies is predicted to boost the market growth during the forecast period. For instance, in November 2022, Cochlear Limited obtained approval from the U.S. Food and Drug Administration (FDA) for the Cochlear Nucleus 8 Sound Processor, which has now become the most compact and lightweight behind-the-ear cochlear implant sound processor in the market. It also holds the distinction of being the first-ever cochlear implant sound processor to offer direct audio connectivity to commonly used consumer electronics through the advanced LE Audio technology of Bluetooth.
By Type, Artificial organs was the highest revenue-grossing segment in the global artificial organs and bionic implants market in 2022 owing to increasing demand for lungs, liver, kidney, and heart transplants and rising technological advancements. Additionally, Artificial bionics is predicted to grow at fastest CAGR during the forecast period owing to the growing demand for cochlear implants, vision, limbs, exoskeleton, and brain bionics, rising favourable reimbursement policies, and increasing FDA approval for implants. For instance, in January 2022, Cochlear Limited's Cochlear Nucleus Implants obtained approval from the U.S. Food and Drug Administration to address unilateral hearing loss and single-sided deafness.
By Technology, Mechanical bionics was the highest revenue-grossing segment in the global artificial organs and bionic implants market in 2022 owing to the growing prevalence of organ failure & the cost-effectiveness of mechanical bionics, increasing demand for mechanical artificial heart valve which lasts longer as compared to the other options, and rising product approvals by regulatory bodies. For instance, in September 2021, Abbott's Portico with FlexNav TAVR system has received FDA approval for the treatment of individuals with symptomatic aortic stenosis who may be at high or very high risk for open-heart surgery. Additionally, Electronic bionics is predicted to grow at fastest CAGR during the forecast period owing to the surge in number of road accidents, increasing prevalence of amputees & individuals born without limbs, rising demand of prosthetics such as artificial hands, arms, & legs, and growing technological advancements.
By End-user, Hospitals was the highest revenue-grossing segment in the global artificial organs and bionic implants market in 2022 owing to the increasing demand for artificial organs & bionic implants in hospitals, growing number of surgical procedures performed in hospitals, rising prevalence of organ failure, and surge in product approvals by U.S. Food and Drug Administration. For instance, in October 2022, Abiomed, a subsidiary of Johnson & Johnson, revealed that Impella RP Flex with SmartAssist has been granted pre-market approval (PMA) by the U.S. FDA, signifying the highest level of approval. It is deemed safe and effective for treating acute right heart failure for a duration of up to 14 days. The Impella RP Flex is inserted through the internal jugular (IJ) vein, allowing patients to remain mobile, and it incorporates dual-sensor technology aimed at enhancing patient care. Additionally, Ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to surge in number of ambulatory surgical centers in developed economies, rising awareness regarding ambulatory surgical centers, and increasing technological developments by market players.
North America region is anticipated for the highest revenue share during the forecast period owing to the growth in transplant surgeries, increasing prevalence of organ failure, rising need for artificial organs, presence of well-developed healthcare facilities, and surge in launch of technologically advanced products. For instance, in March 2022, Zimmer Biomet Holdings, Inc. launched WalkAI, an advancing AI system capable of identifying patients who are likely to experience reduced gait speed ninety days after undergoing hip or knee surgery. WalkAI complements ZBEdge, a collection of integrated smart, robotic technologies created to provide data-driven clinical insights to enhance patient outcomes, incorporating robust predictive analytics capabilities. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of chronic diseases that lead to organ failure, growing demand for kidney transplantation, rising technological advancements, and surge in research & development projects by market players. For instance, in January 2022, IIT-Kanpur initiated a project aimed at creating a state-of-the-art artificial heart. The project involves collaboration with several Indian hospitals and will be led by a team of experienced innovators chosen and mentored by a task force comprising industry experts.
Segmentation: Artificial Organs and Bionic Implants Market Report 2022 - 2033
Artificial Organs and Bionic Implants Market Analysis & Forecast by Type 2022 - 2033 (Revenue USD Bn)
Artificial Organ
- Artificial Lungs
- Artificial Kidney
- Artificial Heart
- Artificial Liver
- Other Organs
Artificial Bionics
- Bionic Limbs
- Cochlear Implant
- Vision Bionics
- Exoskeleton
- Brain Bionics
Artificial Organs and Bionic Implants Market Analysis & Forecast by Technology 2022 - 2033 (Revenue USD Bn)
- Electronic Bionics
- Mechanical Bionics
Artificial Organs and Bionic Implants Market Analysis & Forecast by End-user 2022 - 2033 (Revenue USD Bn)
- Ambulatory Surgical Centers
- Hospitals
- Others
Artificial Organs and Bionic Implants Market Analysis & Forecast by Region 2022 - 2033 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Artificial Organs and Bionic Implants Market: Type Estimates & Trend Analysis
8. Artificial Organs and Bionic Implants Market: Technology Estimates & Trend Analysis
9. Artificial Organs and Bionic Implants Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Artificial Organs and Bionic Implants Market
12. Europe Global Artificial Organs and Bionic Implants Market
13. Asia Pacific Global Artificial Organs and Bionic Implants Market
14. Latin America Global Artificial Organs and Bionic Implants Market
15. MEA Global Artificial Organs and Bionic Implants Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Biomet Inc
- Jarvik Heart Inc
- Zimmer Biomet
- Edward Lifesciences Corporation
- ABIOMED Inc
- Ekso Bionics
- SynCardia Systems LLC
- Berlin Heart Gmbh
- Medtronic
- Heartware International Inc
- Abbott
- Iwalk Inc.
- Boston Scientific Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | August 2023 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value ( USD | $ 28.43 Billion |
| Forecasted Market Value ( USD | $ 70.6 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
