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What fueled the previous growth in the artificial organ and bionics market?

The market size for artificial organs and bionics has witnessed a swift expansion over the past several years. The market, which was valued at $32.82 billion in 2024, is expected to rise to $36.14 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.1 percent. The historic ascent of this market can be credited to multiple factors such as increased prevalence of chronic diseases, advancements in medical research and innovation, rising acceptance of transplant procedures, government support and funding, as well as enhancements in biocompatibility.

What will be the artificial organ and bionics market size in the future?

The market for artificial organs and bionics is projected to experience significant expansion in the forthcoming years, with its value estimated to hit “$56.71 billion by 2029, symbolizing a compound annual growth rate (CAGR) of 11.9%. The upsurge expected within the forecast period can be credited to factors such as heightened healthcare spending, the emergence of personalized medicine, regulatory backing, and expedited approvals. Swift progress in 3d printing and collaboration initiatives also bolster this growth. Noteworthy trends predicted within the forecast timeframe encompass miniaturization and wearable tech, state-of-the-art technological advancements, the incorporation of advanced materials, application of AI and machine learning in design, as well as progress in 3d and bioprinting technologies.

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What main drivers are fueling expansion in the artificial organ and bionics market?

The artificial organ and bionics market is set to grow due to increasing healthcare expenses. Healthcare expenditure entails all spending associated with health services, incorporating private and public health coverage, health studies, and public health initiatives. Investment in healthcare enables technological improvements that may result in more sophisticated and effective artificial organs. These enhancements could involve advancements in materials, design, and production methods. The Centers for Medicare and Medicaid Services, a federal agency based in the US, reported in December 2023 that national health costs in the United States raised by 4.3% in 2022, marking a rise from the 2.7% growth witnessed in 2021. Hence, the growing healthcare expenditure is fueling growth in the artificial organ and bionics market.

What key areas define the segmentation of the global artificial organ and bionics market?

The artificial organ and bionics market covered in this report is segmented –

1) By Product: Artificial Organs, Artificial Bionics

2) By Fixation Type: Implantable And Externally-Worn, Cardiac Bionics And Brain Bionics

3) By Technology: Mechanical Bionics, Electronic Bionics

Subsegments:

1) By Artificial Organs: Artificial Heart, Artificial Kidney, Artificial Liver, Artificial Pancreas, Artificial Lungs

2) By Artificial Bionics: Bionic Limbs, Bionic Eyes, Exoskeletons, Neural Prosthetics

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Who are the dominant players expanding their reach in the artificial organ and bionics market?

Major companies operating in the artificial organ and bionics market include Abiomed Inc., Asahi Kasei Medical Co., Ltd, Baxter, Berlin Heart GmbH, Boston Scientific Corporation, Cyberonics Inc., Ekso Bionics Holdings Inc., Getinge AB, Medtronic PLC, Bornlife Prosthetic and Orthotic Inc., Sonova, LifeNet Health, Terumo Corporation, Nano Retina Ltd, Edwards Lifesciences Corporation, Orthofix Medical Inc, Cochlear Limited, Advanced Bionics AG, Ottobock SE & Co. KGaA, Second Sight Medical Products Inc., iWalk Inc., Jarvik Heart Inc, St. Jude Medical Inc., Harmonic Bionics Inc., Open Bionics, Beta Bionics Inc., Bionic Prosthetics and Orthotics, Mobius Bionics, Touch Bionics Ltd, Phytowelt GreenTechnologies GmbH

How are evolving market trends shaping artificial organ and bionics Strategies?

Significant firms are infusing capital into businesses working in the artificial organs and bionics sector to bring about a paradigm shift in organ transplantation. This funding aids these businesses in creating synthetic organs to overcome the lack of available donor organs, by producing effective, biologically compatible substitutes. This provides a ray of hope for individuals awaiting organ transplants and may significantly alter the transplantation medicine arena in the future. For instance, in April 2022, the Canadian Government directed $2 million towards the research of pioneering organ and tissue donation ventures. The goal of this investment is to enhance organ donation and transplantation process in order to fulfill the requirements of Canadians and increase access to first-class donation and transplantation services. This investment is a part of the Networks of Centers of Excellence Program, dedicated to backing organ donation and transplantation studies in Canada.

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Which regions are emerging as leaders in the artificial organ and bionics market?

North America was the largest region in the artificial organ and bionics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global artificial organ and bionics market report during the forecast period. The regions covered in the artificial organ and bionics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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