Growth Opportunities and Trends in the Artificial Vital Organs And Medical Bionics Market: Key Insights for 2025-2034
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What fueled the previous growth in the artificial vital organs and medical bionics market?
The size of the artificial vital organs and medical bionics market has robustly expanded in recent times. It’s projected to escalate from $43.1 billion in 2024 to $46.95 billion in the subsequent year of 2025, with a compound annual growth rate (CAGR) of 8.9%. The expansion during the historic phase can be linked to the increased public education and acceptance, enhanced surgical methodologies, scarcity of organ donors, a surge in chronic ailments, as well as efficient regulatory processes and permissions.
What will be the artificial vital organs and medical bionics market size in the future?
Expectations for the artificial vital organs and medical bionics market indicate robust growth in the coming years, potentially reaching $65.24 billion in 2029 with a compound annual growth rate (CAGR) of 8.6%. This predicted expansion during the forecast period is attributed to factors such as an increased occurrence of organ failures, a rising population of elderly individuals, an escalation in healthcare expenditure, a preference for minimally invasive surgical operations, plus progress in regenerative medicine and tissue engineering. Key trends that will shape the forecast period include advancements in biotechnology, healthcare investments from both government and private sectors, progression in biomaterials and biocompatible materials, boosted research and development, and enhanced patient outcomes.
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What main drivers are fueling expansion in the artificial vital organs and medical bionics market?
Anticipated growth in the market for artificial vital organs and medical bionics is largely attributed to the increasing incidence of organ failures. Organ failure is a severe health condition in which one or several critical organs lose their functional capacity, resulting in serious health issues and, in some cases, potential fatality. This escalating trend in organ failures is propelled by the increased rates of chronic illnesses such as heart disorders, hypertension, and diabetes, as well as hereditary diseases and genetic susceptibilities that can result in organ failure. Artificial vital organs and medical bionics offer a solution to organ failures by supplying essential life-supporting services and rejuvenating vital functions in patients with damaged organs. For example, the United Network for Organ Sharing, an American non-profit scientific educational organization, recorded that in 2022 there were 42,887 organ transplants in the United States, a 3.7% rise from the previous year and a new record. Consequently, the increasing frequency of organ failures will fuel the expansion of the artificial vital organs and medical bionics market.
What key areas define the segmentation of the global artificial vital organs and medical bionics market?
The artificial vital organs and medical bionics market covered in this report is segmented –
1) By Type: Artificial Vital Organs, Medical Bionics
2) By Technology: Mechanical, Electronic
3) By Application: Hospitals, Clinics, Other Applications
Subsegments:
1) By Artificial Vital Organs: Artificial Heart, Artificial Kidney, Artificial Liver, Artificial Lungs, Artificial Pancreas
2) By Medical Bionics: Bionic Limbs, Bionic Eyes, Bionic Ears, Neural Implants, Bionic Organs
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Who are the dominant players expanding their reach in the artificial vital organs and medical bionics market?
Major companies operating in the artificial vital organs and medical bionics market are Abiomed Inc., Abbott Laboratories, Medtronic Plc, Fresenius Medical Care AG, Asahi Kasei Corporation, Boston Scientific Corporation, Biomet Inc., Terumo Corporation, Edwards Lifesciences Corporation, Otto Bock Healthcare GmbH, Nikkiso Co. Ltd., Cochlear Ltd., Ossur, Cirtec Medical, Heartware International Inc., Berlin Heart GmbH, SynCardia Systems LLC, Ekso Bionics Holdings Inc., Jarvik Heart Inc., CARMAT, Iwalk Inc., BiVACOR Inc., Nano Retina Inc., Second Sight Medical Products Inc., St. Jude Medical Inc.
How are evolving market trends shaping artificial vital organs and medical bionics Strategies?
Leading companies in the medical bionics and artificial vital organs market are producing technologically superior products like the bionic pancreas, to meet the increasing need for advanced medical solutions and improve patient results. The bionic pancreas is an innovative medical tool that regulates blood sugar levels in diabetic patients by replicating the actions of a healthy pancreas. For example, Beta Bionics Inc., a medical tech firm based in the United States, introduced the iLet Bionic Pancreas, an independent insulin delivery system, in December 2023. This system streamlines diabetes control by automatically altering insulin delivery based on the user’s weight, dismissing the requirement for medical professionals to set up complex parameters such as insulin-to-carb ratios, correction factors, or pre-established basal rates, thus decreasing the workloads of both doctors and patients.
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Which regions are emerging as leaders in the artificial vital organs and medical bionics market?
North America was the largest region in the artificial vital organs and medical bionics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial vital organs and medical bionics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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