Artificial Vital Organs and Medical Bionics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Artificial Vital Organs and Medical Bionics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A6458
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Market Overview:

The global artificial vital organs and medical bionics market size reached US$ 44.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 63.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6.08% during 2023-2028.

Artificial vital organs are engineered devices that can be implanted into the human body for replacing a natural organ. They reduce the harmful impact of damaged organs while patients wait for organ transplants. On the other hand, medical bionics is a multidisciplinary field of research for developing implantable devices, which are designed to provide long-term safety and effective sensory or motor function to nerve or muscle tissues. They are used to develop cloned liver cells that filter toxins from the plasma and secrete albumin proteins and clotting factors like a normal liver. They also assist in designing an intravenous membrane oxygenator (IMO), which is integrated directly within the vena cava system to oxygenate the blood as it returns to the heart before reaching the natural lungs.

Artificial Vital Organs and Medical Bionics Market Trends:

At present, there is a rise in the prevalence of various diseases, such as respiratory ailments, cirrhosis, and heart, kidney, and liver failures. This, along with the burgeoning healthcare industry, represents one of the key factors driving the market. Besides this, the increasing geriatric population that is highly prone to organ disorders across the globe is contributing to the growth of the market. In addition, the growing development of novel products, such as full-functioning artificial hearts, livers, lungs, urethras, windpipes, and livers, is positively influencing the market. Moreover, key market players are extensively investing in research and development (R&D) activities to introduce new techniques of organ regeneration through engineered tissues, which is offering a positive market outlook. Apart from this, the rising demand for artificial organs due to the development of bioartificial organs with improved survival rates and faster recuperation of patients is propelling the growth of the market. Additionally, the implementation of life-saving technologies, such as the bridge to transplant and the bridge to recovery in critical cases, is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global artificial vital organs and medical bionics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and application.

Breakup by Product Type:

  • Artificial Vital Organs
    • Artificial Liver
    • Artificial Heart
    • Artificial Pancreas
    • Artificial Kidney
    • Artificial Lungs
    • Oxygenators
  • Medical Bionics
    • Bionic Limbs
    • Vision Bionics
    • Ear Bionics
    • Exoskeletons
    • Brain Bionics
    • Heart Valves
    • Cardiac Bionics
       

Breakup by Application:

  • Hospitals
  • Clinics
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Abiomed, BiVACOR Inc, CARMAT, Cirtec Medical, Edwards Lifesciences, Ekso Bionics Holdings Inc., Nikkiso Co. Ltd., Second Sight Medical Products Inc and SynCardia Systems LLC (Picard Medical Inc.).

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Product Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Abiomed, BiVACOR Inc, CARMAT, Cirtec Medical, Edwards Lifesciences, Ekso Bionics Holdings Inc., Nikkiso Co. Ltd., Second Sight Medical Products Inc and SynCardia Systems LLC (Picard Medical Inc.).
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global artificial vital organs and medical bionics market was valued at US$ 44.3 Billion in 2022.

We expect the global artificial vital organs and medical bionics market to exhibit a CAGR of 6.08% during 2023-2028.

The growing number of R&D activities to introduce new techniques of organ regeneration through engineered tissues, along with the introduction of bioartificial organs with improved survival rates and faster recuperation of patients, is primarily driving the global artificial vital organs and medical bionics market.

The sudden outbreak of the COVID-19 pandemic had led to the postponement of elective surgical procedures to reduce the risk of the coronavirus infection upon interaction with medical equipment, thereby negatively impacting the global market for artificial vital organs and medical bionics.

Based on the product type, the global artificial vital organs and medical bionics market can be segmented into artificial vital organs and medical bionics. Currently, artificial vital organs hold the majority of the total market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global artificial vital organs and medical bionics market include Abiomed, BiVACOR Inc, CARMAT, Cirtec Medical, Edwards Lifesciences, Ekso Bionics Holdings Inc., Nikkiso Co. Ltd., Second Sight Medical Products Inc, and SynCardia Systems LLC (Picard Medical Inc.).

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Artificial Vital Organs and Medical Bionics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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