Artificial Vital Organs and Medical Bionics Market Research, 2033
The global artificial vital organs and medical bionics market was valued at $47.4 billion in 2023, and is projected to reach $99.0 billion by 2033, growing at a CAGR of 7.6% from 2024 to 2033. Increasing prevalence of chronic diseases, surge in demand for organ transplants is the driving factor for the market growth.
Market Introduction and Definition
Artificial organs and bionic implants are medical devices designed to replace or augment the function of natural organs or body parts that are damaged, dysfunctional, or missing. These devices utilize advanced technology and engineering principles to restore or enhance bodily functions, improve quality of life, and provide therapeutic benefits to individuals with medical conditions or disabilities. Artificial organs are man-made devices that replicate the structure and function of specific organs in the body. Bionic implants, on the other hand, are electronic or mechanical devices that are implanted within or attached to the body to enhance or restore specific functions. Bionic implants combine biological and technological elements to interface with the body's natural systems and provide additional capabilities.
Key Takeaways
- The artificial vital organs and medical bionics size study covers 20 countries. The research includes a segment analysis of each country in terms of value ($Million) for the projected period 2023-2032.
- More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major artificial vital organs and medical bionics industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious artificial vital organs market objectives.
Key Market Segments
- By Type
- Artificial Organs
- Artificial Heart
- Artificial Kidney
- Artificial Lungs
- Others
- Medical Bionics
- Orthopedic Bionics
- Others
- By Technology
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Edwards Lifesciences Corporation
- Johnson & Johnson
- Abbott Laboratories, Inc.
- SynCardia Systems LLC
- Cochlear Limited
- Berlin Heart GmbH
- Jarvik Heart, Inc.
- Boston Scientific Corporation
- Zimmer Biomet Holding Inc.
- Medtronic Plc.