IMARC Group has recently released a new research study “Artificial Vital Organs and Medical Bionics Market Report Covers: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
Global Artificial Vital Organs and Medical Bionics Market Overview (2022-2027)
• Historical Market Size (2021): US$ 60.67 Billion
• Forecast CAGR (2022-2027): 6.50%
• Forecast Market Size (2027): US$ 60.67 Billion
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What is a the artificial vital organs and medical bionics Market ?
Artificial vital organs and medical bionics represent specifically engineered devices that can be implanted into the human body to replace affected natural organs. They can be categorized into artificial liver, artificial heart, artificial pancreas, bionic limbs, vision and ear bionics, exoskeletons, heart valves, etc.
These artificial vital organs and medical bionics are designed to provide long-term safety and instill effective motor or sensory-motor function to nerve or muscle tissues. They are even used to develop cloned liver cells that aid in filtering toxins from the plasma and secreting albumin proteins and clotting factors as in the normal liver.
Artificial vital organs and medical bionics help to design an intravenous membrane oxygenator (IMO) that is integrated directly into the vena cava system to oxygenate blood as it circulates back to the heart before reaching the natural lungs. Consequently, they find extensive utilization in hospitals, clinics, and other healthcare establishments across the globe.
What are the major market drivers in a artificial vital organs and medical bionics market ?
The rising prevalence of several diseases, such as respiratory ailments, cirrhosis, cardiovascular disorders, and kidney and liver failures, is among the key factors driving the artificial vital organs and medical bionics market.
In addition to this, the growing geriatric population, which is highly prone to various organ disorders, is acting as another significant growth-inducing factor.
Furthermore, the development of numerous novel products, including full-functioning artificial lungs, hearts, livers, urethras, windpipes, livers, etc., is also positively influencing the market growth.
Besides this, the inflating investments in research and development (R&D) activities to innovate new techniques of organ regeneration through engineered tissues are further catalyzing the global market.
Moreover, the launch of bioartificial organs with enhanced survival rates and faster recuperation of patients is expected to propel the artificial vital organs and medical bionics market over the forecasted period.
| Artificial Vital Organs and Medical bionics Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 41.3 Billion |
| Market forecast in 2027 | US$ 60.67 Billion |
| Growth Rate | CAGR of 6.50% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends |
| Segments covered | Product Type And Application |
| Regional scope | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Key companies profiled | 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.). |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
The report segmentation is as follows:
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
Based on the product type and application the report finds that the utility sector dominates the market. There are many ongoing development projects undertaken by various nations, which require a continuous flow of electricity. Owing to this, there is a rising demand for power inverters in this sector.
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
The major players in the market are 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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