PUBLISHER: The Business Research Company | PRODUCT CODE: 1713516
PUBLISHER: The Business Research Company | PRODUCT CODE: 1713516
Artificial vital organs are man-made devices designed to mimic the functions of essential organs, while medical bionics involve the integration of biological and electronic systems to restore or enhance bodily functions. The primary aim is to sustain life and improve the quality of life for individuals with severe organ failure by restoring lost functions or enhancing physical capabilities.
The main components of artificial vital organs and medical bionics include devices that replicate the functions of natural organs, such as the heart, lungs, or kidneys, to support patients with organ failure. These devices can be mechanical, electronic, or a combination of both, and are commonly used in hospitals, clinics, and other medical settings.
The artificial vital organs and medical bionics market research report is one of a series of new reports from The Business Research Company that provides artificial vital organs and medical bionics market statistics, including artificial vital organs and medical bionics industry global market size, regional shares, competitors with a artificial vital organs and medical bionics market share, detailed artificial vital organs and medical bionics market segments, market trends and opportunities, and any further data you may need to thrive in the artificial vital organs and medical bionics industry. This artificial vital organs and medical bionics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The artificial vital organs and medical bionics market size has grown strongly in recent years. It will grow from $43.1 billion in 2024 to $46.95 billion in 2025 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to public awareness and acceptance, improved surgical techniques, shortage of donor organs, the rise in chronic diseases, streamlined regulatory processes and approvals.
The artificial vital organs and medical bionics market size is expected to see strong growth in the next few years. It will grow to $65.24 billion in 2029 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to increasing incidence of organ failures, the growing number of elderly individuals, rising healthcare expenditure, preference for minimally invasive surgical procedures, growth in regenerative medicine and tissue engineering. Major trends in the forecast period include innovations in biotechnology, investment in healthcare by governments and private sectors, advancements in biomaterials and biocompatible materials, enhanced research and development, improved patient outcomes.
The growing prevalence of organ failures is anticipated to drive the expansion of the artificial vital organs and medical bionics market. Organ failure occurs when one or more organs lose their ability to perform essential functions, leading to serious health issues and potentially life-threatening conditions. This rise in organ failures is influenced by increasing rates of chronic diseases such as diabetes, hypertension, and heart disease, as well as genetic predispositions and inherited conditions. Artificial vital organs and medical bionics provide critical support and restore vital functions in patients with damaged organs. For example, the United Network for Organ Sharing reported in January 2023 that there were 42,887 organ transplants in the United States in 2022, a 3.7% increase from 2021, setting a new annual record. This increasing prevalence of organ failures is expected to drive the growth of the artificial vital organs and medical bionics market.
Leading companies in the artificial vital organs and medical bionics sector are developing advanced products, such as the bionic pancreas, to improve patient outcomes and meet the rising demand for innovative medical solutions. A bionic pancreas is a sophisticated device designed to automate blood sugar regulation in individuals with diabetes, replicating the functions of a healthy pancreas. For instance, in December 2023, Beta Bionics Inc., a US-based medical technology firm, introduced the iLet Bionic Pancreas, an autonomous insulin delivery system. This device simplifies diabetes management by automatically adjusting insulin delivery according to the user's weight, eliminating the need for healthcare providers to set complex parameters such as correction factors, insulin-to-carb ratios, or pre-set basal rates, thus easing the burden on both patients and healthcare professionals.
In December 2022, Johnson & Johnson, a healthcare company based in the US, acquired Abiomed, Inc. for an undisclosed amount. This acquisition is designed to strengthen Johnson & Johnson's MedTech business by expanding its cardiovascular portfolio and offering innovative heart recovery solutions. Abiomed, Inc. specializes in developing cutting-edge heart pump technologies, particularly aimed at treating heart failure and coronary artery disease.
Major companies operating in the artificial vital organs and medical bionics market are Abiomed Inc., Abbott Laboratories, Medtronic Plc, Fresenius Medical Care AG, Asahi Kasei Corporation, Boston Scientific Corporation, Biomet Inc., Terumo Corporation, Edwards Lifesciences Corporation, Otto Bock Healthcare GmbH, Nikkiso Co. Ltd., Cochlear Ltd., Ossur, Cirtec Medical, Heartware International Inc., Berlin Heart GmbH, SynCardia Systems LLC, Ekso Bionics Holdings Inc., Jarvik Heart Inc., CARMAT, Iwalk Inc., BiVACOR Inc., Nano Retina Inc., Second Sight Medical Products Inc., St. Jude Medical Inc.
North America was the largest region in the artificial vital organs and medical bionics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial vital organs and medical bionics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the artificial vital organs and medical bionics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The artificial vital organs and medical bionics market consists of sales of artificial hearts, artificial kidneys, artificial lungs, artificial pancreas, bionic limbs, cochlear implants, retinal implants, neuroprosthetics. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Artificial Vital Organs And Medical Bionics Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on artificial vital organs and medical bionics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for artificial vital organs and medical bionics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The artificial vital organs and medical bionics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.