Artificial organs and bionic implants are medical devices designed to replace or enhance the functionality of natural organs or body parts. They are used to restore or improve the health and quality of life for individuals with organ failure, physical disabilities, or other medical conditions. Artificial organs are devices designed to mimic the functions of specific organs. These organs can be fully or partially artificial and are made from biocompatible materials to ensure compatibility with the body. Some examples of artificial organs Include artificial hearts, artificial kidneys, artificial pancreas, and artificial limbs.
Bionic implants, on the other hand, are devices that integrate electronic or mechanical components with natural tissues to restore or enhance bodily functions. They are often used to replace or augment sensory organs, such as cochlear implants for hearing loss or retinal implants for vision impairment. Bionic limbs, also known as prosthetics, are artificial limbs that can be controlled by neural signals or muscle contractions to provide mobility and dexterity for individuals with limb loss or limb dysfunction.
Both artificial organs and bionic implants rely on advancements in technology, such as biocompatible materials, sensors, actuators, and control systems, to function effectively. These devices can significantly improve the quality of life for individuals with medical conditions, allowing them to regain lost functionality or compensate for impairments. However, it is important to note that while artificial organs and bionic implants can be highly beneficial, they may not fully replicate the natural functions of the organs they replace and may require ongoing monitoring and maintenance.
Major factors that drive the growth of the global artificial organs and bionic implants market Include rapid advancements in artificial organs and bionic implants; an Increase in the number of patients suffering from arthritis and blindness and a rise in the number of road accidents and injuries. For instance, according to the data by World Health Organization (WHO), in June 2022, road traffic injury was the leading cause of death among children and young adults aged 5-29 years. As per the same source, approximately 1.3 million people die each year and 20 to 50 million are injured or disabled as a result of road traffic crashes.
However, the high cost associated with implant procedures, and lack of surgical professionals are expected to restrict the growth of artificial organs and the bionic implants market. On the contrary, the surge in healthcare expenditure and unmet medical demands to get better treatment options in developing countries are expected to create lucrative opportunities for the expansion of the global market in the future.
The global artificial organs and bionic implants market is segmented on the basis of type, technology, end-user, and region. On the basis of type, the market is classified into orthopedic bionics, ear bionics, and others. The orthopedic bionics segment is further bifurcated into the bionic hand, bionic leg, and others (bionic limb, bionic finger, bone growth stimulators). Depending on technology, it is bifurcated into electronic and mechanical. By end user, it is segregated into hospitals, ambulatory surgical centers, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Abbott Laboratories, Berlin Heart GmbH, Boston Scientific Corporation, Cochlear Limited, Edward Lifesciences Corporations, Jarvik Heart, Inc., Johnson & Johnson, Medtronic plc, SynCardia Systems, LLC, and Zimmer Biomet Holding Inc. These major players have adopted product approval, agreement, acquisition, and product launch as key developmental strategies to improve the product portfolio of the artificial organs and bionic implants market.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the artificial organs and bionic implants market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report Includes analysis of the regional as well as global artificial organs and bionic implants market trends, key players, market segments, application areas, and market growth strategies.
Bionic implants, on the other hand, are devices that integrate electronic or mechanical components with natural tissues to restore or enhance bodily functions. They are often used to replace or augment sensory organs, such as cochlear implants for hearing loss or retinal implants for vision impairment. Bionic limbs, also known as prosthetics, are artificial limbs that can be controlled by neural signals or muscle contractions to provide mobility and dexterity for individuals with limb loss or limb dysfunction.
Both artificial organs and bionic implants rely on advancements in technology, such as biocompatible materials, sensors, actuators, and control systems, to function effectively. These devices can significantly improve the quality of life for individuals with medical conditions, allowing them to regain lost functionality or compensate for impairments. However, it is important to note that while artificial organs and bionic implants can be highly beneficial, they may not fully replicate the natural functions of the organs they replace and may require ongoing monitoring and maintenance.
Major factors that drive the growth of the global artificial organs and bionic implants market Include rapid advancements in artificial organs and bionic implants; an Increase in the number of patients suffering from arthritis and blindness and a rise in the number of road accidents and injuries. For instance, according to the data by World Health Organization (WHO), in June 2022, road traffic injury was the leading cause of death among children and young adults aged 5-29 years. As per the same source, approximately 1.3 million people die each year and 20 to 50 million are injured or disabled as a result of road traffic crashes.
However, the high cost associated with implant procedures, and lack of surgical professionals are expected to restrict the growth of artificial organs and the bionic implants market. On the contrary, the surge in healthcare expenditure and unmet medical demands to get better treatment options in developing countries are expected to create lucrative opportunities for the expansion of the global market in the future.
The global artificial organs and bionic implants market is segmented on the basis of type, technology, end-user, and region. On the basis of type, the market is classified into orthopedic bionics, ear bionics, and others. The orthopedic bionics segment is further bifurcated into the bionic hand, bionic leg, and others (bionic limb, bionic finger, bone growth stimulators). Depending on technology, it is bifurcated into electronic and mechanical. By end user, it is segregated into hospitals, ambulatory surgical centers, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Abbott Laboratories, Berlin Heart GmbH, Boston Scientific Corporation, Cochlear Limited, Edward Lifesciences Corporations, Jarvik Heart, Inc., Johnson & Johnson, Medtronic plc, SynCardia Systems, LLC, and Zimmer Biomet Holding Inc. These major players have adopted product approval, agreement, acquisition, and product launch as key developmental strategies to improve the product portfolio of the artificial organs and bionic implants market.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the artificial organs and bionic implants market analysis from 2022 to 2032 to identify the prevailing artificial organs and bionic implants market opportunities.Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the artificial organs and bionic implants market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report Includes analysis of the regional as well as global artificial organs and bionic implants market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Ear Bionics
- Others
- Orthopedic Bionics
- Orthopedic Bionics Type
- Bionic Hand
- Bionic Leg
- Others
By Technology
- Electronic
- Mechanical
By End User
- Hospitals
- Ambulatory surgical Centers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Abbott Laboratories
- Berlin Heart GmbH
- Boston Scientific Corporation
- Cochlear Limited
- Edwards Lifesciences Corporation
- Jarvik Heart, Inc.
- Johnson & Johnson
- Medtronic plc
- SynCardia Systems LLC
- Zimmer Biomet Holding Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ARTIFICIAL ORGANS AND BIONIC IMPLANTS MARKET, BY TYPE
CHAPTER 5: ARTIFICIAL ORGANS AND BIONIC IMPLANTS MARKET, BY TECHNOLOGY
CHAPTER 6: ARTIFICIAL ORGANS AND BIONIC IMPLANTS MARKET, BY END USER
CHAPTER 7: ARTIFICIAL ORGANS AND BIONIC IMPLANTS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Artificial Organs and Bionic Implants Market,' The artificial organs and bionic implants market was valued at $44.4 billion in 2022, and is estimated to reach $92.1 billion by 2032, growing at a CAGR of 7.7% from 2023 to 2032.Artificial organs and bionic implants are advanced medical devices designed to replace or enhance the function of specific organs or body parts. Artificial organs are man-made devices designed to replicate or replace the function of natural organs in the human body. Bionic implants, also known as bioelectronic implants, are electronic devices that are surgically implanted into the body to interface with biological systems and enhance or restore specific functions.
Key factors driving the growth of the artificial organs and bionic implants market include a surge in cases of heart diseases and a rise in cases of road accidents & injuries further increasing the demand for artificial organs and bionic implants. In addition, the rise in technological advancement in artificial organs and bionic implants across the world, and the rise in demand for organ donors drive the growth of the artificial organs and bionic implants market. Furthermore, an increase in the number of artificial organs & bionic implants by R&D activities, and an increase in number of clinical trials of advanced artificial organs & bionic implants for getting U.S. Food and Drug Administration (FDA) approval are expected to propel the growth of the market. And the rise in healthcare expenditure, increase in dental diseases, increase in cases of bone fracture, and increase in the geriatric population along with longer life expectancy boost the growth of the artificial organs and bionic implants market.
The market offers growth opportunities to the key players in the market including rise in awareness regarding the potential benefits of artificial organs and bionic implants, rise in adoption of key strategies such as acquisition, agreement, and collaboration. And the rise in demand for artificial organs and bionic implants across the globe also provides growth opportunities for the market. As a result, the key players engaged in the artificial organs and bionic implants industry have invested in R&D, and increasing their production are expected to gain high traction and provide a lucrative opportunity for the growth of the artificial organs and bionic implants market.
The global artificial organs and bionic implants market is segmented on the basis of type, technology, end user, and region. On the basis of type, the market is classified into orthopedic bionics, ear bionics, and others. The orthopedic bionics segment is further bifurcated into bionic hand, bionic leg, and others (bionic limb, bionic finger, bone growth stimulators). By technology, it is bifurcated into electronic and mechanical. Depending on end user, it is segregated into hospitals, ambulatory surgical centers, and others (clinics, transplant research center, and academic institutes). On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA).
The key players profiled in the study include Abbott Laboratories, Berlin Heart GmbH, Boston Scientific Corporation, Cochlear Limited, Edward Lifesciences Corporations, Jarvik Heart, Inc., Johnson & Johnson, Medtronic plc, SynCardia Systems, LLC, and Zimmer Biomet Holding Inc. are provided in the report. The players in the market such as Abbott Laboratories, Cochlear Limited, Edward Lifesciences Corporations, Johnson & Johnson, Medtronic plc, SynCardia Systems, and Zimmer Biomet Holding Inc. have been actively engaged in the adoption of various strategies such as acquisition, product approval, partnership, and product launch to remain competitive and gain an advantage over the competitors in the market.
For instance, in December 2021, Edwards Lifesciences announced that it received approval from the U.S. Food and Drug Administration (FDA) for the use of the Edwards SAPIEN 3 transcatheter valve with the Alterra adaptive prestent (SAPIEN 3 with Alterra) for patients with severe pulmonary regurgitation. The Edwards SAPIEN 3 Transcatheter Pulmonary Valve (TPV) system combines the proven SAPIEN 3 transcatheter heart valve and the Alterra adaptive prestent to expand transcatheter therapy options for congenital heart valve disease patients.
Key Market Insights
- By type, the others drug segment was the highest revenue contributor to the market in 2022 and is estimated to reach $42,378.20 million by 2032. The same segment is expected to be the fastest-growing segment with a CAGR of 8.3% during the forecast period.
- Based on technology, the electronic segment was the highest revenue contributor to the market in 2022 and is expected to maintain its dominance during the forecast period. However, the same is estimated to be the fastest-growing segment with a CAGR of 7.9% during the forecast period.
- Based on end user, the hospitals segment was the highest revenue contributor to the market in 2022. However, the ambulatory surgical centers segment is estimated to be the fastest-growing segment with a CAGR of 8.3% during the forecast period.
- Based on region, North America accounted for a major share of the artificial organs and bionic implants market in 2022 and is expected to maintain its dominance during the forecast period. Asia-Pacific is expected to witness the highest CAGR of 12.5% during the forecast period.
Companies Mentioned
- Abbott Laboratories
- Berlin Heart GmbH
- Boston Scientific Corporation
- Cochlear Limited
- Edwards Lifesciences Corporation
- Jarvik Heart, Inc.
- Johnson & Johnson
- Medtronic plc
- SynCardia Systems LLC
- Zimmer Biomet Holding Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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