Artificial Organs and Bionics Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 29.84 Billion |
| Market Size (2029) | USD 42.26 Billion |
| CAGR (2024 - 2029) | 7.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Artificial Organs and Bionics Market Analysis
The Global Artificial Organs and Bionics Market size is estimated at USD 29.84 billion in 2024, and is expected to reach USD 42.26 billion by 2029, growing at a CAGR of 7.20% during the forecast period (2024-2029).
The market was impacted adversely during the initial phase of the pandemic due to the lockdowns and strict restrictions, globally. The number of transplants decreased during the initial phase of the pandemic. For instance, as per the article 'The Global Impact of COVID-19 on Solid Organ Transplantation: Two Years into a Pandemic' published in July 2022, over the course of 2020, there was an estimated 16% global decline in transplant activity. Kidney transplant and live donor programs were particularly affected, with significant negative spillover consequences for patients on the waiting list. In addition, as per the source mentioned above, even though the protocols were created and vaccination is undergoing to prevent the patients from the COVID-19 infection, transplant programs and solid organ transplant recipients continue to face challenges. Thus, the studied market was hampered during the pandemic phase. However, there was an increase in kidney diseases and cardiovascular diseases globally during the pandemic. This is anticipated to create demand for organ transplantations, creating opportunities for artificial organs and bionics during the later phase of the pandemic. Thus, COVID-19 has had a significant impact on the studied market.
Factors such as the rising incidence of organ failures, high incidence of road accidents leading to amputations, scarcity of organ donors, and technological advancements are anticipated to drive market growth over the forecast period. For instance, as per the article 'Organ donation in India - There is light at the end of the tunnel' published in April 2022, it is estimated that almost 5 lakh Indians face organ failure every year, and yet less than 2%-3% of them receive a life-saving transplant. This burden of organ failure is anticipated to create opportunities for artificial organs and the bionics market in India. Thus, this is anticipated to contribute to the global artificial organs and bionics market growth over the forecast period.
Moreover, according to the article 'Barriers to the donation of living kidneys for kidney transplantation' published in February 2022, the prevalence of kidney failure is increasing globally among end-stage kidney disease (ESKD) patients, but there is a lack of organ donors in most of the countries globally. Hence, as a kidney transplant is an important alternative for ESKD patients, the demand for artificial kidneys is increasing. This is expected to further fuel the market's growth.
Therefore, owing to the aforementioned factors, the market under study is expected to witness growth over the forecast period. However, strict regulations, compatibility issues, and malfunctions of the products are expected to hinder the market's growth.
Artificial Organs and Bionics Market Trends
This section covers the major market trends shaping the Artificial Organs Bionics Market according to our research experts:
Artificial Kidney by Artificial Organ Segment is anticipated to Grow Over the Forecast Period
An artificial kidney is a wearable dialysis machine. An individual with end-stage renal disease may use a wearable artificial kidney on a daily or even a continuous basis. The increasing incidence and prevalence of renal failure globally are expected to drive segment growth.
Kidney failure has become a global burden in recent years. As per the data published by Medindia in June 2022, annually, almost 66% of kidney failure occurs due to hypertension or diabetes, and nearly 7.85 million people are suffering from chronic kidney failure in India. Additionally, as per the source mentioned above, the incidence of kidney failure (or chronic kidney disease) has doubled over the past decade in the country. This shows a disease burden in the country. Thus, it is expected to create demand for the adoption of artificial kidneys for patient survival, fueling the segment's growth.
Furthermore, according to the National Kidney Foundation data updated in 2022, globally, more than 2 million people currently receive treatment with dialysis or a kidney transplant for survival. Additionally, as per the source mentioned above, more than 80% of renal failure patients are found in developed countries with widespread access to healthcare and sizable elderly populations. This shows a high burden of kidney failure worldwide. Thus, this is expected to increase the demand for artificial kidneys for patient survival. Thereby, driving the segment growth.
Therefore, owing to the aforementioned factors, the segment is expected to witness growth over the forecast period.
North America is Expected to Dominate the Artificial Organs and Bionics Market
Among the other regions, North America is anticipated to witness growth during the study period. Factors such as increasing serious accidents requiring amputations such as limbs, fingers, and hands, among others, are major contributors to the market growth in the region.
According to the article 'Living Well After Amputation: Lessons in Innovation, Peer Support, and Health Policy' published in December 2021, aging, diabetes, and vascular disease are all predicted to cause an increase in the number of amputations in the United States. Additionally, as per the source mentioned above, 2.1 million people lost a limb in 2021, and 185,000 people have their limbs amputated annually in the country. This is further expected to increase the demand for artificial organs and bionics. Thereby, driving the market growth in the region.
Furthermore, according to data updated by the Canadian Institute for Health Information in December 2021, the living donor rate in 2020 was 12.9 donors per million population in Canada, which decreased by 21% from 2019 and is the lowest rate in the last 10 years. In addition, the source mentioned above also stated that a total of 41,670 Canadians (excluding Quebec) were living with ESKD in 2020 which increased from previous years. This increasing burden of ESKD and decreasing number of organ donors in Canada is driving the demand for artificial organs. Hence, driving the overall growth of the studied market in the region.
Therefore, owing to the factors mentioned above, North America is anticipated to dominate the market over the forecast period.
Artificial Organs and Bionics Industry Overview
The market for artificial organs and bionics is moderately competitive. The major players in the artificial organs and bionics market are Abiomed, Asahi Kasei Medical Co. Ltd, Baxter, Boston Scientific Corporation, Ekso Bionics Holdings Inc., Getinge AB, Medtronic, and Ossur, among others.
Artificial Organs and Bionics Market Leaders
-
Abiomed Inc
-
Baxter
-
Boston Scientific Corporation
-
Ossur
-
Medtronic
*Disclaimer: Major Players sorted in no particular order
Artificial Organs and Bionics Market News
- In August 2022, the American Society of Nephrology and the United States Department of Health and Human Services offered USD 10.5 million for a new prize competition from the Kidney Innovation Accelerator. Phase 2 of the Artificial Kidney Prize competition is looking for suggestions for creating prototype bioartificial kidneys, as well as any novel equipment or parts that would make them possible.
- In January 2022, IIT-Kanpur launched a project to develop an advanced artificial heart. This program was launched in collaboration with a few hospitals in India and will be steered by a team of innovators with relevant experience selected under the mentorship of a task force comprising industry experts.
Artificial Organs and Bionics Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increased Incidence of Disabilities and Organ Failures
- 4.2.2 High Incidence of Road Accidents Leading to Amputations
- 4.2.3 Scarcity of Donor Organs
- 4.2.4 Technological Advancements in the Artificial Organ and Bionics
-
4.3 Market Restraints
- 4.3.1 Expensive Procedures
- 4.3.2 Compatibility Issues and Malfunctions
-
4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
-
5.1 By Type
- 5.1.1 Artificial Organ
- 5.1.1.1 Artificial Heart
- 5.1.1.2 Artificial Kidney
- 5.1.1.3 Artificial Lungs
- 5.1.1.4 Cochlear Implants
- 5.1.1.5 Other Organ Types
- 5.1.2 Bionics
- 5.1.2.1 Vision Bionics
- 5.1.2.2 Ear Bionics
- 5.1.2.3 Orthopedic Bionic
- 5.1.2.4 Cardiac Bionics
-
5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 United Kingdom
- 5.2.2.3 France
- 5.2.2.4 Italy
- 5.2.2.5 Spain
- 5.2.2.6 Rest of Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 Japan
- 5.2.3.3 India
- 5.2.3.4 Australia
- 5.2.3.5 South Korea
- 5.2.3.6 Rest of Asia-Pacific
- 5.2.4 Middle East and Africa
- 5.2.4.1 GCC
- 5.2.4.2 South Africa
- 5.2.4.3 Rest of Middle East and Africa
- 5.2.5 South America
- 5.2.5.1 Brazil
- 5.2.5.2 Argentina
- 5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles
- 6.1.1 Abiomed Inc
- 6.1.2 Asahi Kasei Medical Co., Ltd
- 6.1.3 Baxter
- 6.1.4 Berlin Heart GmbH
- 6.1.5 Boston Scientific Corporation
- 6.1.6 Cyberonics Inc.
- 6.1.7 Ekso Bionics Holdings Inc.
- 6.1.8 Ossur
- 6.1.9 Getinge AB
- 6.1.10 Medtronic
- 6.1.11 Bornlife Prosthetic and Orthotic Inc.
- 6.1.12 Sonova
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityArtificial Organs and Bionics Industry Segmentation
As per the scope of the report, artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. These devices can replicate or augment the natural function of the organ. Bionics refers to the replacement or improvement of body parts by mechanical kinds. The Artificial Organs and Bionics Market is segmented by Type (Artificial Organ and Bionics), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
| By Type | Artificial Organ | Artificial Heart |
| Artificial Kidney | ||
| Artificial Lungs | ||
| Cochlear Implants | ||
| Other Organ Types | ||
| By Type | Bionics | Vision Bionics |
| Ear Bionics | ||
| Orthopedic Bionic | ||
| Cardiac Bionics | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Artificial Organs and Bionics Market Research FAQs
How big is the Global Artificial Organs and Bionics Market?
The Global Artificial Organs and Bionics Market size is expected to reach USD 29.84 billion in 2024 and grow at a CAGR of 7.20% to reach USD 42.26 billion by 2029.
What is the current Global Artificial Organs and Bionics Market size?
In 2024, the Global Artificial Organs and Bionics Market size is expected to reach USD 29.84 billion.
Who are the key players in Global Artificial Organs and Bionics Market?
Abiomed Inc, Baxter, Boston Scientific Corporation, Ossur and Medtronic are the major companies operating in the Global Artificial Organs and Bionics Market.
Which is the fastest growing region in Global Artificial Organs and Bionics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Artificial Organs and Bionics Market?
In 2024, the North America accounts for the largest market share in Global Artificial Organs and Bionics Market.
What years does this Global Artificial Organs and Bionics Market cover, and what was the market size in 2023?
In 2023, the Global Artificial Organs and Bionics Market size was estimated at USD 27.84 billion. The report covers the Global Artificial Organs and Bionics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Artificial Organs and Bionics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Artificial Organs Industry Report
Statistics for the 2024 Artificial Organs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Artificial Organs analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
