Artificial Organs And Bionic Market
Artificial Organs and Bionic Market Forecasts to 2030 - Global Analysis By Product (Artificial Organs and Bionic Devices), Material (Biomaterials, Metals, Polymers and Ceramics), Distribution Channel, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Artificial Organs and Bionic Market is accounted for $42.4 billion in 2024 and is expected to reach $80.7 billion by 2030 growing at a CAGR of 11.3% during the forecast period. Artificial organs are engineered devices designed to replicate the functions of natural organs, providing therapeutic solutions for individuals with organ failure or dysfunction. Bionics, on the other hand, refers to the integration of biological systems with mechanical components, often enhancing or restoring human capabilities through technology. Both fields aim to improve quality of life, with artificial organs focusing on organ replacement and bionics enhancing physical abilities, representing significant advancements in medical science and engineering.
According to the HRSA, in 2022, there were 8,895 organ transplant procedures performed on the population aged over 65 in the U.S. In 2022, 42,887 organ transplants were performed in the U.S., an increase of 3.7 percent over 2021.
Market Dynamics:
Driver:
Increasing demand for organ transplants
The growing demand for organ transplants is significantly boosting the market. Factors such as rising chronic diseases, an aging population, and a critical shortage of donor organs underscore the need for innovative solutions. Artificial organs provide vital alternatives for patients, while bionic technologies enhance mobility and functionality. This surge in demand is driving advancements aimed at improving patient outcomes and expanding the range of available treatments.
Restraint:
Regulatory challenges
Regulatory challenges in the market include stringent approval processes, ensuring safety and efficacy before products reach consumers. Navigating complex guidelines from agencies like the FDA can delay innovation and market entry. Additionally, varying regulations across countries complicate global collaboration and standardization. These hurdles can hinder the rapid development of life-saving technologies, making it essential for stakeholders to engage with regulators to streamline processes while maintaining safety standards.
Opportunity:
Growing incidence of chronic diseases
The increasing incidence of chronic diseases, such as diabetes, heart disease, and kidney failure, is driving demand in the market. As these conditions lead to organ dysfunction, the need for innovative solutions like artificial organs and bionic devices becomes more critical. This trend emphasizes the importance of technological advancements to enhance patient care, improve quality of life, and address the challenges posed by a growing population living with chronic health issues.
Threat:
Limited surgical expertise
Limited surgical expertise poses a significant challenge in the market. The complexity of implanting and managing advanced technologies requires highly specialized skills that may not be widely available, particularly in underserved regions. This shortage can lead to delays in patient access to life-saving devices and hinder the overall growth of the market. Addressing this gap through targeted training and education is crucial for enhancing surgical capabilities and improving patient outcomes.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the market by disrupting supply chains and delaying research and development projects. Hospitals prioritized acute care, leading to postponed elective surgeries, including those involving artificial devices. However, the pandemic also accelerated interest in innovative healthcare solutions, highlighting the need for advanced technologies to address chronic conditions exacerbated by the virus. This shift may drive future growth and investment in the sector as healthcare priorities evolve.
The bioengineered segment is projected to be the largest during the forecast period
The bioengineered segment is projected to account for the largest market share during the projection period due to rising chronic diseases and organ shortages. These innovations aim to mimic natural organ functions while addressing issues like organ shortage and rejection. By combining biological materials with engineering principles, bioengineered products offer the potential for personalized medicine, enhancing patient outcomes and paving the way for more effective treatments in regenerative medicine.
The hospitals segment is expected to have the highest CAGR during the forecast period
The hospitals segment is expected to have the highest CAGR during the extrapolated period. They are essential for clinical trials, where new technologies are tested and refined. Furthermore, hospitals are increasingly adopting advanced artificial organs and bionic devices to improve patient outcomes, particularly for those with chronic conditions. This trend drives demand for innovative solutions, highlighting hospitals' pivotal position in advancing medical technology.
Region with largest share:
North America region is projected to account for the largest market share during the forecast period driven by advanced healthcare infrastructure, significant investments in research and development, and increasing prevalence of chronic diseases. Leading companies and innovative startups are at the forefront of technological advancements, focusing on artificial organs and bionic devices. Additionally, supportive government policies and a strong emphasis on patient care and personalized medicine are further propelling market expansion in the region.
Region with highest CAGR:
Asia Pacific is expected to register the highest growth rate over the forecast period driven by an increasing incidence of disabilities. The market encompasses various segments, including artificial organs like hearts and kidneys, as well as bionic devices such as cochlear implants and orthopedic bionics. The demand for these innovations is further fueled by collaborative efforts among healthcare institutions, universities, and private companies to enhance product offerings and improve patient outcomes
Key players in the market
Some of the key players in Artificial Organs and Bionic market include Medtronic Plc., Boston Scientific Corporation, IVIVA Medical, SynCardia Systems, LLC, Ekso Bionics, Edwards Lifesciences Corporation, ABIOMED, Berlin Heart, Cochlear Ltd., Jarvik Heart, Inc, Zimmer Biomet, Smith & Nephew, Kangaroo Health, Cyberdyne and Hanger Clinic.
Key Developments:
In May 2024, Medtronic Plc. acquired Aortix, a company specializing in advanced circulatory support technologies, to expand its portfolio in artificial organ systems. This acquisition is expected to enhance Medtronic's capabilities in providing innovative solutions for patients with severe cardiac conditions.
In April 2024, Zimmer Biomet Holdings, Inc. announced the successful completion of the world’s first robotic-assisted shoulder replacement surgery using its ROSA® Shoulder System. The surgery was performed at Mayo Clinic by John W. Sperling, MD, MBA, Professor of Orthopedic Surgery at Mayo Clinic in Rochester, Minnesota, and a key contributor to the ROSA Shoulder development team.
Products Covered:
• Artificial Organs
• Bionic Devices
Materials Covered:
• Biomaterials
• Metals
• Polymers
• Ceramics
Distribution Channels Covered:
• Direct Sales
• Third-Party Distributors
• Online Platforms
Technologies Covered:
• Conventional
• Bioengineered
• Regenerative Medicine
• Nanotechnology-Based
• Other Technologies
Applications Covered:
• Chronic Diseases
• Trauma and Injury
• Cosmetic and Aesthetic Procedures
• Neuroprosthetics
• Other Applications
End Users Covered:
• Hospitals
• Ambulatory Surgical Centers
• Homecare Settings
• Rehabilitation Centers
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Artificial Organs and Bionic Market, By Product
5.1 Introduction
5.2 Artificial Organs
5.2.1 Artificial Pancreas
5.2.2 Artificial Heart
5.2.3 Artificial Lungs
5.2.4 Artificial Kidney
5.2.5 Artificial Liver
5.3 Bionic Devices
5.3.1 Prosthetic Limbs
5.3.2 Bionic Eyes
5.3.3 Cochlear Implants
5.3.4 Neural Interfaces
6 Global Artificial Organs and Bionic Market, By Material
6.1 Introduction
6.2 Biomaterials
6.3 Metals
6.4 Polymers
6.5 Ceramics
7 Global Artificial Organs and Bionic Market, By Distribution Channel
7.1 Introduction
7.2 Direct Sales
7.3 Third-Party Distributors
7.4 Online Platforms
8 Global Artificial Organs and Bionic Market, By Technology
8.1 Introduction
8.2 Conventional
8.3 Bioengineered
8.4 Regenerative Medicine
8.5 Nanotechnology-Based
8.6 Other Technologies
9 Global Artificial Organs and Bionic Market, By Application
9.1 Introduction
9.2 Chronic Diseases
9.3 Trauma and Injury
9.4 Cosmetic and Aesthetic Procedures
9.5 Neuroprosthetics
9.6 Other Applications
10 Global Artificial Organs and Bionic Market, By End User
10.1 Introduction
10.2 Hospitals
10.3 Ambulatory Surgical Centers
10.4 Homecare Settings
10.5 Rehabilitation Centers
10.6 Other End Users
11 Global Artificial Organs and Bionic Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Medtronic Plc.
13.2 Boston Scientific Corporation
13.3 IVIVA Medical
13.4 SynCardia Systems, LLC
13.5 Ekso Bionics
13.6 Edwards Lifesciences Corporation
13.7 ABIOMED
13.8 Berlin Heart
13.9 Cochlear Ltd.
13.10 Jarvik Heart, Inc
13.11 Zimmer Biomet
13.12 Smith & Nephew
13.13 Kangaroo Health
13.14 Cyberdyne
13.15 Hanger Clinic
List of Tables
1 Global Artificial Organs and Bionic Market Outlook, By Region (2022-2030) ($MN)
2 Global Artificial Organs and Bionic Market Outlook, By Product (2022-2030) ($MN)
3 Global Artificial Organs and Bionic Market Outlook, By Artificial Organs (2022-2030) ($MN)
4 Global Artificial Organs and Bionic Market Outlook, By Artificial Pancreas (2022-2030) ($MN)
5 Global Artificial Organs and Bionic Market Outlook, By Artificial Heart (2022-2030) ($MN)
6 Global Artificial Organs and Bionic Market Outlook, By Artificial Lungs (2022-2030) ($MN)
7 Global Artificial Organs and Bionic Market Outlook, By Artificial Kidney (2022-2030) ($MN)
8 Global Artificial Organs and Bionic Market Outlook, By Artificial Liver (2022-2030) ($MN)
9 Global Artificial Organs and Bionic Market Outlook, By Bionic Devices (2022-2030) ($MN)
10 Global Artificial Organs and Bionic Market Outlook, By Prosthetic Limbs (2022-2030) ($MN)
11 Global Artificial Organs and Bionic Market Outlook, By Bionic Eyes (2022-2030) ($MN)
12 Global Artificial Organs and Bionic Market Outlook, By Cochlear Implants (2022-2030) ($MN)
13 Global Artificial Organs and Bionic Market Outlook, By Neural Interfaces (2022-2030) ($MN)
14 Global Artificial Organs and Bionic Market Outlook, By Material (2022-2030) ($MN)
15 Global Artificial Organs and Bionic Market Outlook, By Biomaterials (2022-2030) ($MN)
16 Global Artificial Organs and Bionic Market Outlook, By Metals (2022-2030) ($MN)
17 Global Artificial Organs and Bionic Market Outlook, By Polymers (2022-2030) ($MN)
18 Global Artificial Organs and Bionic Market Outlook, By Ceramics (2022-2030) ($MN)
19 Global Artificial Organs and Bionic Market Outlook, By Distribution Channel (2022-2030) ($MN)
20 Global Artificial Organs and Bionic Market Outlook, By Direct Sales (2022-2030) ($MN)
21 Global Artificial Organs and Bionic Market Outlook, By Third-Party Distributors (2022-2030) ($MN)
22 Global Artificial Organs and Bionic Market Outlook, By Online Platforms (2022-2030) ($MN)
23 Global Artificial Organs and Bionic Market Outlook, By Technology (2022-2030) ($MN)
24 Global Artificial Organs and Bionic Market Outlook, By Conventional (2022-2030) ($MN)
25 Global Artificial Organs and Bionic Market Outlook, By Bioengineered (2022-2030) ($MN)
26 Global Artificial Organs and Bionic Market Outlook, By Regenerative Medicine (2022-2030) ($MN)
27 Global Artificial Organs and Bionic Market Outlook, By Nanotechnology-Based (2022-2030) ($MN)
28 Global Artificial Organs and Bionic Market Outlook, By Other Technologies (2022-2030) ($MN)
29 Global Artificial Organs and Bionic Market Outlook, By Application (2022-2030) ($MN)
30 Global Artificial Organs and Bionic Market Outlook, By Chronic Diseases (2022-2030) ($MN)
31 Global Artificial Organs and Bionic Market Outlook, By Trauma and Injury (2022-2030) ($MN)
32 Global Artificial Organs and Bionic Market Outlook, By Cosmetic and Aesthetic Procedures (2022-2030) ($MN)
33 Global Artificial Organs and Bionic Market Outlook, By Neuroprosthetics (2022-2030) ($MN)
34 Global Artificial Organs and Bionic Market Outlook, By Other Applications (2022-2030) ($MN)
35 Global Artificial Organs and Bionic Market Outlook, By End User (2022-2030) ($MN)
36 Global Artificial Organs and Bionic Market Outlook, By Hospitals (2022-2030) ($MN)
37 Global Artificial Organs and Bionic Market Outlook, By Ambulatory Surgical Centers (2022-2030) ($MN)
38 Global Artificial Organs and Bionic Market Outlook, By Homecare Settings (2022-2030) ($MN)
39 Global Artificial Organs and Bionic Market Outlook, By Rehabilitation Centers (2022-2030) ($MN)
40 Global Artificial Organs and Bionic Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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