An artificial organ is a man-made organ device or tissue that is implanted or integrated into a human interacting with living tissue to replace a natural organ, duplicate or augment a specific function or functions, and allow the patient to resume normal life as soon as possible. The replaced function is not required to be related to life support, but it is frequently. Replacement bones and joints, such as those used in hip replacements, could be thought of as artificial organs. Increased product launches, increased research & developement activities, and key market players strategies will drive the artificial organs segment's growth. Furthermore, new product approvals and ongoing government support are expected to fuel the segment's growth. The increasing prevalence of organ failure due to severe infections, cardiovascular disease, and trauma raises the number of organ transplant surgeries.
Market Dynamics
The key players in the medical devices industry are focusing on the development of technologically advanced equipment, instruments, and systems for various surgical procedures. Thus, introduction of such advanced products in the market is expected to drive growth of the artificial vital organs and medical bionics market over the forecast period. For instance, On February 25, 2023, SynCardia Systems LLC, a manufactures, sells, and markets the world’s first and only US FDA approved and commercially available Total Artificial Heart mechanical heart, announced that the U.S. Food and Drug Administration (FDA) has approved significant software upgrades to the Freedom Portable Driver. This upgrade improve the accuracy of the cardiac output and fill volume measurements to 5% at normotensive conditions. on both the 50cc and 70cc hearts, and in so doing, eliminate a significant number of the unintended alarms that the current device has been experiencing. The upgrade also ensure that even in extreme cases of hypervolemia and hypertension, the device display correct measurements.
Key features of the study:
- This report provides an in-depth analysis of the global artificial vital organs and medical bionics market and provides market size (US$ Billion) and compound annual growth rate (CAGR) for the forecast period (2023–2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global artificial vital organs and medical bionicss market based on the following parameters– company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include SynCardia Systems, LLC, BiVACOR, CARMAT, Cleveland Heart, Jarvik Heart, MyLVAD, Cirtec Medical Systems, Thoratec Corporation, Abbott Diabetes Care, Inc., Abiomed, Inc., Asahi Kasei Medical Co., Ltd., Cyberonics, Inc., Edwards Lifesciences Corporation, Ekso Bionics Holdings, Inc., F. Hoffmann-La Roche Ltd., Fresenius Medical Care AG & Co. KGaA, Gambro AB (Baxter International, Inc.), and iWalk, Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global artificial vital organs and medical bionics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global artificial vital organs and medical bionicss market
Detailed Segmentation:
- Global Artificial Vital Organs And Medical Bionics Market, By Type
- Artificial Heart
- Artificial Kidney
- Artificial Liver
- Artificial Pancreas
- Artificial Lungs
- Cochlear Implants
- Vision Bionics
- Exoskeletons
- Bionic Limbs
- Brain Bionics
- Cardiac Bionics
- Artificial Vital Organs
- Medical Bionics
- Global Artificial Vital Organs And Medical Bionics Market, by End User
- Hospital
- Clinics
- Ambulatory Surgical Centers
- Global Artificial Vital Organs And Medical Bionics Market, By Region:
- North America
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- South Africa
- Central Africa
- North Africa
- Company Profiles
- SynCardia Systems, LLC
- BiVACOR
- CARMAT
- Cleveland Heart
- Jarvik Heart
- MyLVAD
- Cirtec Medical Systems
- Thoratec Corporation
- Abbott Diabetes Care, Inc.
- Abiomed, Inc.
- Asahi Kasei Medical Co.Ltd.
- Cyberonics, Inc.
- Edwards Lifesciences Corporation
- Ekso Bionics Holdings, Inc.
- F. Hoffmann-La Roche Ltd.
- Fresenius Medical Care AG & Co. KGaA
- Gambro AB (Baxter International, Inc.)
- iWalk, Inc.
