Global Artificial Organ And Bionics Market Size, Share & Industry Trends Analysis Report By Product (Artificial Organs and Artificial Bionics), By Technology (Mechanical and Electronic), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Artificial Organ And Bionics Market
Market Report Description
The Global Artificial Organ And Bionics Market size is expected to reach $39.5 billion by 2028, rising at a market growth of 9.8% CAGR during the forecast period.
Blood loss, substance addiction, severe trauma, and other severe disorders are the main causes of organ failure. Additionally, unhealthy lifestyle activities, like smoking, drinking too much alcohol, eating poorly, and not engaging in physical activities have a significant impact on organ function. Additionally, it is anticipated that the availability of cutting-edge artificial support systems and advancements in healthcare facilities would increase the demand for bionics and artificial organs. Because 3D bioprinting is utilized to create artificial organs, it is significantly essential for the artificial organ and bionic transplantation industry.
Since it reduces the possibility of organ rejection, 3D bioprinting is becoming increasingly popular. The global trends for artificial gadgets are also about to change as a result of the advent of artificial intelligence. Many countries are currently focusing on the development of a tool that offers a personalized assessment of organs along with donor suitability. This tool will be very useful in helping patients decide whether to accept donor organs or wait for better possibilities when making decisions regarding organ retrieval.
Artificial limbs known as bionic limbs use impulses from the patient's muscles to move naturally. In order to generate the correct movements, certain bionic limbs also depend on electrical inputs from the brain and nerves. These limbs, like bionic hands, can be mechanically or electronically propelled. Some bionic limb alternatives use a mix of the two. Bionic limbs offer significantly more support and functionality than conventional prosthetic limbs since they are powered by both muscles as well as the brain in addition to the body.
Artificial intelligence and machine learning could support a patient's transition through heart transplantation by analyzing initial lab tests and imaging to predict the potential benefits of transplantation, determining graft failure or mortality after transplantation, helping a patient stick to their medication regimen, and inducing healthy behavioral changes to reduce future cardiovascular risk.
COVID-19 Impact Analysis
The artificial organ and bionics markets were also negatively impacted by the COVID-19 pandemic. The pandemic posed additional difficulties for those with disabilities and organ failures. In order to overcome the limits on market expansion caused by social distance, numerous medical facilities provided video conferencing to patients with disabilities instead of non-elective procedures and surgeries. The market was also impeded by therapeutic restrictions. Additionally, a significant number of people have been impacted by the coronavirus pandemic, which has led to a high number of fatalities, a heavy disease burden, as well as financial instability. The enormous surge of patients put the hospital infrastructure and system under tremendous strain.
Market Growth Factors
Improved mobility and quality of life
When compared to a socket prosthesis, an Osseo-integrated prosthesis has many benefits for people who have lost an arm or a leg. For example, walking can become much easier with the Osseo-integrated prosthesis connection, which is significantly more stable and offers a full range of joint movement. When worn, an Osseo-integrated prosthesis doesn't hurt or damage the skin. As a result of the prosthesis' direct attachment to the bone, a phenomenon known as natural Osseo-perception occurs in which the patient asserts their prosthesis to be a part of their own body. This is an incredibly novel method, which significantly enhances the quality of life for those who have had an amputation, and has been made available by a significant number of artificial organs and bionics manufacturers all over the world in recent years.
An increasing number of R&D activities along with government support
Patients are encouraged by the robust potential of bionic limbs to change their lives via long-term efficacy studies. The prosthesis can be directly attached to an implant that has undergone osseointegration, which has immediate advantages. It makes it simpler to connect and remove the prosthesis. Additionally, it offers a considerably more comfortable sitting position and enables much greater movement. There is a considerable number of R&D activities stating that Osseo-integrated implants connected to bionic limbs greatly enhance movement. For young people, this is especially clear. They can really detect more vibrations. This aids in detecting the type of surface being walked on as well as the location of the prosthetic foot on the ground.
Marketing Restraining Factor:
Requirement for immense care after the transplant
It is challenging to create prosthetic fittings that permit sustained high levels of daily activities. In fact, edema, neuromas, muscular contractures, fractures, and acute and chronic skin conditions can all threaten the skin, nerves, muscles, and bones of the residuum (also known as the stump). This makes it challenging to handle everyday prosthesis loading. Additionally, it can be difficult to fit sockets around stumps with odd forms. Patients who live in warmer climates are particularly harmed since sweating from the heat and humidity makes it difficult to wear sockets. In a lot of instances, difficulties with prosthetic fits result in frequent and, too frequently, permanent prosthesis abandonment.
Based on Product, the market is segmented into Artificial Organs (Kidney, Heart, Lungs, Liver, and Pancreas) and Artificial Bionics (Cochlear Implant, Bionic limbs, Exoskeleton, Vision bionics, and Brain bionics). In 2021, the Artificial Bionics segment recorded a significant revenue share of the artificial organs and bionics market. The growing need for cochlear implants, exoskeletons, vision, limbs, and brain bionics are the main drivers of the growth of the segment. The artificial organs and bionics market is also booming as a result of advantageous reimbursement policies and increasing FDA approval for implants.
Based on Technology, the market is segmented into Mechanical and Electronic. In 2021, the mechanical bionics segment procured the highest revenue share of the artificial organs and bionics market. The prevalence of organ failure is increasing, and mechanical bionics are becoming more affordable. Since a mechanical artificial heart valve lasts significantly longer than the alternatives, there is a high demand for them. Rapid FDA approvals, as well as reimbursement policies, are further factors promoting expansion.
|Market size value in 2021||USD 21 Billion|
|Market size forecast in 2028||USD 39.5 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 9.8% from 2022 to 2028|
|Number of Pages||255|
|Number of Tables||460|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product, Technology, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, North America accounted for the largest revenue share of the artificial organs and bionics market. The demand for artificial organs due to the increased prevalence of organ failure and the rise in transplant surgery are the major factors that are aiding in the growth of the regional market. In addition, the development in the field of organs and bionics transplant is further aided by the availability of sophisticated healthcare facilities and a large number of local branches of well-known biotechnology and medical device businesses.
Free Valuable Insights: Global Artificial Organ And Bionics Market size to reach USD 39.5 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abiomed, Inc., Berlin Heart GmbH, Zimmer Biomet Holdings, Inc., Boston Scientific Corporation, Cochlear Ltd., Ekso Bionics Holdings, Inc., Jarvik Heart, Inc., Medtronic PLC, iWALKFree, Inc., and Edwards Lifesciences Corporation.
Scope of the Study
Market Segments Covered in the Report:
- Artificial Organs
- Artificial Bionics
- Cochlear Implant
- Bionic limbs
- Vision bionics
- Brain bionics
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Abiomed, Inc.
- Berlin Heart GmbH
- Zimmer Biomet Holdings, Inc.
- Boston Scientific Corporation
- Cochlear Ltd.
- Ekso Bionics Holdings, Inc.
- Jarvik Heart, Inc.
- Medtronic PLC
- iWALKFree, Inc.
- Edwards Lifesciences Corporation
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North America Organ And Bionics Market Report 2022-2028
Europe Artificial Organ And Bionics Market Report 2022-2028
Asia Pacific Artificial Organ And Bionics Market Report 2022-2028
What would be the value of the global Artificial Organ And Bionics market by 2028?
The Artificial Organ And Bionics market size is projected to reach USD 39.5 billion by 2028.
What are the key driving factors and challenges in the Artificial Organ And Bionics market?
An increasing number of R&D activities along with government support are driving the market in coming years, however, Requirement for immense care after the transplant limited the growth of the market.
Who are the top market players in the Artificial Organ And Bionics industry?
Abiomed, Inc., Berlin Heart GmbH, Zimmer Biomet Holdings, Inc., Boston Scientific Corporation, Cochlear Ltd., Ekso Bionics Holdings, Inc., Jarvik Heart, Inc., Medtronic PLC, iWALKFree, Inc., and Edwards Lifesciences Corporation.
At what CAGR is the Artificial Organ And Bionics market estimate to grow in the forecast period?
The expected CAGR of the Artificial Organ And Bionics market is 9.8% from 2022 to 2028.
Which segment is leading the market in 2021?
The Artificial Organs segment is leading the Global Artificial Organ And Bionics Market by Product in 2021, thereby, achieving a market value of $27.1 billion by 2028.
Which region dominated the Artificial Organ And Bionics market in 2021?
The North America market dominated the Global Artificial Organ And Bionics Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17.16 billion by 2028.