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The global artificial organ and bionics market size was US$ 25,642.9 million in 2021. The global artificial organ and bionics market size is forecast to reach US$ 55,235.5 million by 2030, growing at a compound annual growth rate (CAGR) of 8.9% during the forecast period from 2022 to 2030.
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An artificial organ is a man-made device or tissue that is implanted or integrated into a person, interacting with living tissue, to replace a natural organ, to replicate or augment a certain function so the patient can get back to their normal life as soon as feasible. It’s not necessary for the substituted function to be connected to life support, though it sometimes is. For instance, artificial organs could also include replacement bones and joints, as those used in hip replacements. The use of biological principles to modify or replace physiological activities in naturally occurring bodily tissue or organs is known as auto-bionics.
Factors Influencing Market Growth
• The rising number of transplants and the growing number of people waiting for donors drive the global market. The Human Resource and Services Administration (HRSA) reports that more than 106,108 Americans are on the national waiting list in 2022.
• The rising incidence of disabilities and organ failures, technical advances, and increasing incidence of road accidents leading to amputations boost the global market growth.
• The suspicion of device malfunction and the chance of compatibility of artificial organs may slow down the overall market growth.
• The improvements in the field of 3D bioprinting are forecast to offer lucrative opportunities for the global market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Due to the pandemic, patients with impairments and organ failure faced additional challenges. Due to social barriers, several medical facilities were only able to perform non-elective procedures and treatments; instead, they offered patients with disabilities video conferencing to get over market expansion restrictions. Additionally, therapeutic limitations have prevented commercial expansion.
Regional Analysis
The Asia Pacific region accounted for a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the rising economies, growing population, and increasing prevalence of chronic illnesses. In addition, the availability of advanced surgical procedures and rising medical tourism.
North America is forecast to have considerable growth during the forecast period. As a result of the rising transplant surgeries and the demand for artificial organs owing to the growing incidence of organ failure. In addition, the existence of well-developed healthcare structures and the local existence of many large biotechnology and medical devices businesses.
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Leading Competitors
The leading prominent companies profiled in the global artificial organ and bionics market are:
• Zimmer Biomet
• Medtronic
• Abbott
• ABIOMED, INC
• Berlin Heart GmbH
• Biomet, Inc
• Boston Scientific Corporation
• Edward Lifesciences Corporation
• Ekso Bionics
• Heartware International, Inc
• Iwalk, Inc.
• Jarvik Heart, Inc
• SynCardia Systems, LLC
• LifeNet Health
• Sonova
• Orthofix Holdings Inc
• BionX Medical Technologies
• Medtronic
• Gambro AB
• Cochlear Ltd
• Other Prominent Players
Scope of the Report
The global artificial organ and bionics market segmentation focuses on Product, Technology, and Region.
Segmentation based on Product
• Artificial Organs
o Kidney
o Heart
o Lungs
o Liver
o Pancreas
• Artificial Bionics
o Cochlear implant
o Exoskeleton
o Bionic limbs
o Vision bionics
o Brain bionics
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Segmentation based on Technology
• Mechanical bionics
• Electronic bionics
Segmentation based on Region
• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America
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Meta Title: Artificial Organ and Bionics Market Size, Share, Insight and Forecast 2022 to 2030
Meta Description: Global Artificial Organ and Bionics Market is projected to reach US$ 55,235.5 million by the end of 2030 from US$ 25,642.9 million in 2021, at a CAGR of 8.9%
Meta Keywords: artificial organ and bionics market Size, artificial organ and bionics market share, artificial organ and bionics market trend, artificial organ and bionics market Forecast, artificial organ and bionics market insight
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