Market Size of USA Artificial Organs & Bionic Implants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 9.86 Billion |
| Market Size (2029) | USD 13.84 Billion |
| CAGR (2024 - 2029) | 7.01 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Medical Bionic Implants & Artificial Organs Market Analysis
The USA Artificial Organs & Bionic Implants Market size is estimated at USD 9.86 billion in 2024, and is expected to reach USD 13.84 billion by 2029, growing at a CAGR of 7.01% during the forecast period (2024-2029).
The growth of the market in the country can be attributed to the increasing incidence of disabilities and organ failures and technological advancements leading to enhanced applications.
The demand for organ donors is ever increasing and is very high when compared to the actual supply. It has been estimated that, of all the patients who need organ transplantation, only 10% are able to undergo the process. This has been a major boost for artificial organs and the bionics market, as the patients cannot afford to wait in the queue since the stakes are very high. Bionics and artificial organs can cater to those in need of organ transplantations and replacements, as they can replicate the function of damaged organs.
Furthermore, the technological advancements and the increasing healthcare expenditure in the country is boosting the market growth. However, the high cost of the organs and the procedures is a major constraint. The high cost of these organs is due to the production policies to address the patients, taxpayers, and medical technology corporations. Additionally, fear of device malfunction and its consequences, and limited specialists to carry out the procedure, are also restraining the growth of the artificial organs and bionic implants market.
US Medical Bionic Implants & Artificial Organs Industry Segmentation
As per the scope of the report, artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. The Artificial Organs are made by a human and are implemented in human bodies with living tissue, it can able to perform the original function of human body parts. Bionics refers to the replacement or improvement of body parts by mechanical kinds.
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USA Artificial Organs & Bionic Implants Market Size Summary
The United States medical bionic implants and artificial organs market is poised for significant growth over the forecast period, driven by the rising incidence of disabilities and organ failures, alongside rapid technological advancements. These advancements have expanded the applications of bionic implants and artificial organs, making them crucial alternatives for patients in need of organ transplants, especially given the stark disparity between the demand for and supply of organ donors. The market is further bolstered by increased healthcare expenditure, although it faces challenges such as the high costs associated with these technologies and procedures, concerns over device malfunction, and a shortage of specialists to perform the necessary procedures. The cardiac bionics segment, which includes heart valves, ventricular assist devices, and pacemakers, is expected to experience robust growth due to the increasing prevalence of cardiovascular diseases, particularly among the aging population in the United States.
The competitive landscape of the United States artificial organs and bionic implants market is moderately populated with several key players employing strategies such as agreements, collaborative models, business expansion, and product development to strengthen their market positions. Major companies like ABIOMED, Boston Scientific Corporation, Berlin Heart GmbH, Edward Lifesciences Corporation, Otto Bock Holding GmbH & Co. KG, LifeNet Health, and Medtronic plc are actively contributing to the market's evolution. The dominance of the cardiac bionic segment is underscored by the high incidence of heart disease, which remains the leading cause of death across various demographics in the United States, thereby ensuring a substantial patient pool and sustained demand for cardiac-related bionic solutions throughout the forecast period.
USA Artificial Organs & Bionic Implants Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increased Incidence of Disabilities and Organ Failures
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1.2.2 Technological Advancements Leading to Enhanced Applications
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1.3 Market Restraints
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1.3.1 Expensive Procedures
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1.3.2 Fear of Device Malfunction and its Consequences
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Artificial Organs
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2.1.1.1 Artificial Heart
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2.1.1.2 Artificial Kidney
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2.1.1.3 Cochlear Implants
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2.1.1.4 Others
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2.1.2 Bionics
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2.1.2.1 Vision Bionics
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2.1.2.2 Ear Bionics
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2.1.2.3 Orthopedic Bionic
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2.1.2.4 Cardiac Bionics
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2.1.2.5 Others
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USA Artificial Organs & Bionic Implants Market Size FAQs
How big is the USA Artificial Organs & Bionic Implants Market?
The USA Artificial Organs & Bionic Implants Market size is expected to reach USD 9.86 billion in 2024 and grow at a CAGR of 7.01% to reach USD 13.84 billion by 2029.
What is the current USA Artificial Organs & Bionic Implants Market size?
In 2024, the USA Artificial Organs & Bionic Implants Market size is expected to reach USD 9.86 billion.
