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Artificial Organ And Bionics Market Growth, 2027 | Industry Report

Artificial Organ And Bionics Market Analysis Report By Product, By Technology, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17612967  |  Published: June 2021  |  No of Pages: 110
Format: Electronic (PDF)  |  Industry: Healthcare IT  |  Publisher: Grand View Research

Synopsis

With reference to the report published, the global artificial organ and bionics market was prized by USD 25.9 billion in 2019. It is estimated to witness a 9.6% CAGR from 2020 to 2027.

Drivers

The growing number of transplants together with the increasing figure of individuals, waiting for donors are the important factors, impelling the market for artificial organs and bionics. In 2020, nearby above 112,000 individuals were on the nationwide waiting list in the U.S., as stated by the Human Resource and Services Administration (HRSA). Consistent with this statement, in the U.S. a person is getting added to the waiting list, every 10 minutes, thus, escalating the demand for man-made medicinal devices.

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Severe shock, the deficit of blood, medicine mistreatment plus additional serious illnesses is the most important reasons for the failure of the organ. In addition, lifestyle complaints like the necessity to work out, smoking, alcohol expenditure, and harmful nutritional behavior are, furthermore, the most important causes for the organ to stop working.

Besides, growth in the healthcare amenities plus the accessibility of the sophisticated artificial support arrangements is, furthermore, anticipated to support the demand for artificial organs and bionics.

Primarily, the globally increasing elderly populace is generating requirements for organ implants. The figure of the persons, aged above 65 years of age is looking for and getting organ transplants, is getting higher. Since they are extra vulnerable to post-transplant malignancies, the demand for artificial devices is the maximum in the elder residents.

In line with the Human Resource and Services Administration (HRSA), nearby 8,615 organ transplant actions were performed in 2019, for persons having age more than 65 years, in the U.S.A. As a result, rising life anticipation, as well as increasing demand for organ donors, is supporting the demand for artificial organs and the bionics market

Since it is utilized for improving artificial organs, progressions in the field of 3D bioprinting have been confirmed to be vital in organ transplanting. Because it decreases the situations of organ refusal, 3D bioprinting is having a comparatively superior requirement.

Product Insight

In 2019, the artificial organ sector held above 70.0% share and led the artificial organ and bionics market. The increasing demand for liver, heart, lungs, and kidney, transplantation is adding to the expansion of the sector. To transplant a kidney, the standard mean waiting period is 5 years, in the U.S.A. Whilst on the waiting lists, a lot of issues are taken into consideration like blood category, body dimensions, the seriousness of the complaint, and the remoteness from the donor. Hence, the challenge in satisfying unmet requirements has forced the manufacturing companies to work out on wearable artificial kidneys, bio-lungs, and artificial pancreas.

The artificial bionics section is expected to observe the highest CAGR, during the forecast period. Growing demand for brain bionics, exoskeleton bionics, cochlear implants, limbs bionics, and vision bionics, are the most important features, encouraging the enlargement of the section. Fast track endorsement by FDA for the implants and encouraging repayment strategies are, additionally, increasing the expansion of the market.

Technology Insight

In 2019, mechanical bionics held a 67.4% share and dominated the artificial organs and bionics market. The low down price of mechanical bionics and increasing rate of organ failure is largely credited to this major market share. In contrast to the additional alternative, mechanical synthetic heart valve persists for an extended period and hence generating a strong demand for it. Additional reasons adding to the enlargement are quick approvals by FDA and compensation strategy.

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The electronic bionics sector is likely to record, maximum development percentage in the market, throughout the forecast period. Besides, the persons born with no limbs, the growing frequency of amputees, and the rising number of road accidents, are anticipated to generate the demand for electronic bionics.

Regional Insight

North America held the 46.1% share in 2019 and ruled the global artificial organ & bionics market. It is projected to maintain its supremacy, all over the forecast period. This development is credited to the growth in the necessity for artificial organs, caused by excessive occurrences of organ failures and rising figures of transplantation actions. Additionally, the existence of strong healthcare amenities and the regional existence of several huge medical devices, as well as for biotechnology companies, add to its domination.

During the previous 5 years, the number of donors has considerably augmented in the U.S.A. Starting 2015 to 2019, as said by the U.S. Department of Health and Human Services; there is a 27.7% enhancement in the figure of organ donors. Rising insist on kidney transplantation is single of the most important impeller of the market for artificial organs and bionics. Kidney transplantation observed a substantial augmentation from 16,186 transplantations in 2011 to 23,401 transplantations in 2019.

Due to the budding nations such as India, China, and Japan, the market in the Asia Pacific is likely to develop by the highest speed for the duration of the forecast. These nations contain a huge populace base, together with a greater occurrence of chronic sicknesses. The rise in the number of chronic sicknesses, which cause organ failure, is estimated to enhance the expansion of the market.

The nations are technically highly developed and propose a variety of sophisticated surgical measures, among flourishing medical tourism. The low down expenditure of the surgical actions, within the region, permits a huge number of patients to call on for medicinal purposes. Consequently, a growth in the number of chronic sicknesses, causing organ failure plus growth in medical tourism, has considerably added to the enlargement of the market in the Asia Pacific.

Companies

By way of the existence of several small, medium and large size companies, the market is very much disjointed. These companies are busy in the improvement of novel products as well as local growth, to get the highest revenue share in the business. The policy of mergers & acquisitions encourages the major companies in increasing their presented range of the product, as well as to enlarge their geological track.

For example, Edwards Life sciences Corporation declared to introduce the KONECT RESILA system, in 2019. Tissue valve conduit was scheduled to get launched in 2020.

Some of the companies for the artificial organ and bionics market are:

    • SynCardia Systems, LLC.
    • Iwalk, Inc.
    • Ekso Bionics
    • Boston Scientific Corporation
    • Berlin Heart GmbH
    • Abbott
    • Zimmer Biomet
    • Jarvik Heart, Inc
    • Heart ware International, Inc
    • Edward Life sciences Corporation
    • Biomet, Inc
    • ABIOMED, INC
    • Medtronic

Report Scope

Report Attribute

Details

The market size value in 2020

USD 28.5 billion

The revenue forecast in 2027

USD 53.9 billion

Growth Rate

CAGR of 9.6% from 2020 to 2027

The base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, technology, region

Regional scope

North America; Europe; Asia Pacific; South America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; China; Japan; India; South Korea; Australia; Mexico; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE

Key companies profiled

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.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs.


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global artificial organ and bionics market report on the basis of product, technology, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)
    • Artificial Organs
        • Kidney
        • Heart
        • Lungs
        • Liver
        • Pancreas
    • Artificial Bionics
        • Cochlear implant
        • Exoskeleton
        • Bionic limbs
        • Vision bionics
        • Brain bionics

• Technology Outlook (Revenue, USD Million, 2016 - 2027)
    • Mechanical bionics
    • Electronic bionics

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
    • The Asia Pacific
        • Japan
        • China
        • India
        • South Korea
        • Australia
    • Latin America
        • Brazil
        • Mexico
        • Argentina
        • Colombia
    • MEA
        • South Africa
        • Saudi Arabia
        • UAE

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