About Artificial Organ & Bionics
Artificial Organs are made by a human. Artificial Organs are implemented in human bodies with living tissue, it can able to perform the original function of human body parts. Bionics refers to replacement or improvement of body parts by mechanical kinds. Artificial organs composed of the plastic that is planted with stem cells from the relocate receiver, hence the body’s immune system does not discard the artificial organ. Adoption of Technological advancement and rising number of accidents will help to boost global artificial organ and Bionics market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
CAGR | 8.7% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Artificial Organ & Bionics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abiomed (United States), Asahi Kasei Kuraray Medical (Japan), Thoratec (United States), WorldHeart Fedration (Geneva), Gambro AB (United States), Berlin Heart GmbH (Germany), Boston Scientific Corporation (United States), Cochlear Limited (Australia), Edward Lifesciences (United States) and Orthofix International N.V. (The Netherlands) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Biomet, Inc. (United States), Medtronic, Inc. (United States), Second Sight Medical Products, Inc. (United States), Ossur (Iceland), Ekso Bionics (United States) and St. Jude Medical, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Artificial Organ & Bionics market by Type (Artificial Heart, Liver, Kidney, Bionic Limbs, Heart Valves, Cardiac and Vision) and Region.
On the basis of geography, the market of Artificial Organ & Bionics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Fixation Method, the sub-segment i.e. Implantable will boost the Artificial Organ & Bionics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Mechanical Bionics will boost the Artificial Organ & Bionics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospital will boost the Artificial Organ & Bionics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Technological Advancement and Government Initiation towards Research and Development Activities
Market Growth Drivers:
Upsurging Demand of Potential Organs, Rising Number of Healthcare Expenditure and Increasing Number of Accidents
Challenges:
Government Policies Related to Organ Transplant
Restraints:
High Cost of Organ Transplantation and Lack of Hospitals for Artificial Organ Transplant Facility
Opportunities:
Increasing Awareness about Artificial Organ & Bionics will Create Opportunity
Market Leaders and their expansionary development strategies
In April 2022- Cochlear, Limited, acquired Oticon Medical. As part of the transaction, Cochlear has committed to providing ongoing support for Oticon Medical’s base of more than 75,000 hearing implant recipients, which includes Cochlear and acoustic implants.
In September 2022 -- Edwards Lifesciences announced the launch of the SAPIEN 3 Ultra RESILIA valve, which incorporates Edwards' breakthrough RESILIA tissue technology with the industry-leading SAPIEN 3 Ultra transcatheter aortic heart valve. The launch follows recent United States Food and Drug Administration (FDA) approval., and 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. Source: https://www.mordorintelligence.com/industry-reports/india-artificial-organs-bionic-implants-market
Key Target Audience
Artificial Organ & Bionics Transplant Centre, Hospitals, Research Institutes, Pharmaceutical Institute, Artificial Organ & Bionics Service Provider, Government and Private Research Center and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.