Artificial Vital Organs and Medical Bionics Market accounted for US$ 73,316.9 Million and is projected to register a CAGR of 9.6% 2022-2027 | SynCardia Systems, LLC, BiVACOR, CARMAT, Cleveland Heart,

Artificial Vital Organs and Medical Bionics Market Analysis

An artificial organ is defined as a man-made device that can be integrated or implanted in a patient to replace the original diseased organ and restore its specific function. Medical bionics is the study of the use of mechanics and electronics to replace an organ with mechanical strength or other parts of a functional organ.

Global Artificial Vital Organs and Medical Bionics Market: Drivers

The waiting list for organ transplants is likely to boost the global artificial vital organs and medical bionics market. For example, as of March 2020, more than 112,000 patients are on the national transplant waiting list, as per the US Government for Organ Donation and Transplantation.

Furthermore, the increasing prevalence of chronic disorders is also likely to contribute to market growth. For example, as per the American Heart Association’s Heart and Stroke Statistics 2019 update, in 2016, 48% of all adults in the US suffered from some form of CVD.

In 2019, the global artificial vital organs and medical bionics market was dominated by artificial vital organs, with a 59.3% share in terms of value, followed by medical bionics.

The size of the global artificial vital organs and medical bionics market was estimated to be accounted for US$ 35,340.4 Million and over the forecast period (2020-2027) it is estimated to witness a value of US$ 73,316.9 Million with a CAGR of 9.6%.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐚𝐧𝐝 𝐆𝐞𝐭 𝐅𝐥𝐚𝐭 𝐔𝐒𝐃 𝟐𝟎𝟎𝟎 𝐎𝐅𝐅

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐓𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐅𝐮𝐥𝐥 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 @ https://www.coherentmarketinsights.com/promo/buynow/3896

Global Artificial Vital Organs and Medical Bionics Market: Restraints  

Criticism of prostheses is likely to hamper market growth. Before choosing an artificial limb transplant, there are several ethical and physical factors to consider. In the US, the ethical aspect refers to physicians who adhere to the Nuremberg Code, which includes rules designed by the Department of Health and Human Services to protect human subjects during experimental research and trials. Physical aspects include the inability to consciously decide whether or not to choose an artificial heart for a patient in need of a heart transplant.

Furthermore, artificial heart transplants can cause death or disability injury, which is likely to limit market growth.

Global Artificial Vital Organs and Medical Bionics Market: Opportunities

The growing geriatric population is likely to provide profitable growth opportunities for players in the global artificial vital organs and medical bionics market. For example, as per the U.S. Census Bureau, the U.S. elder public is likely to reach 77 million by 2034.

Furthermore, the adoption of 3D printing in the development of prostheses is likely to contribute to the growth of the market. For example, researchers at the University of Tel Aviv in Israel reported that the artificial heart successfully used human fat tissue to print 3D in April 2020.

Global Artificial Vital Organs and Medical Bionics Market: Key Takeaways

The number of heart transplants has been increasing in recent times. For example, as per the Organ Procurement and Transplantation Network (OPTN) / The Scientific Registry of Transplant Recipients (SRTR), in 2015, 2016 and 2019, more than 30,000 transplants per year were reported in the US.

In addition, the number of patients in need of heart transplants is increasing. For example, as per the OPTN / SRTR 2018 Annual Data Report: The number of new active listings for heart, heart transplants increased by 33.7% between 2009 and 2018 from 2810 to 3756.

𝐓𝐨 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐂𝐨𝐯𝐢𝐝𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 @ https://www.coherentmarketinsights.com/insight/request-sample/3896

Global Artificial Vital Organs and Medical Bionics Market: Key Developments

The key players in the market focus on adopting a collaborative strategy to increase their market share. For example, Ekso Bionics Holdings, Inc. partnered with Kindred Healthcare, LLC in February 2020, to pilot EksoNR— a robotic exoskeleton in their long-term intensive care hospitals.

The key players in the market focus on adopting M&A strategies to expand their product portfolio. For example, Edwards Lifesciences Corporation purchased CAS Medical Systems, Inc., a medical technology company in April 2019, dedicated to monitoring non-invasive brain and tissue oxygenation.

Global Artificial Vital Organs and Medical Bionics Market: Segmentation

On the basis of Type, the Global Artificial Vital Organs and Medical Bionics Market is segmented into:

• Artificial Vital Organs
  • Artificial Heart
  • Artificial Kidney
  • Artificial Liver
  • Artificial Pancreas
  • Artificial Lungs
• Medical Bionics
  • Cochlear Implants
  • Vision Bionics
  • Exoskeletons
  • Bionic Limbs
  • Brain Bionics
  • Cardiac Bionics

On the basis of Region, the Global Artificial Vital Organs and Medical Bionics Market is segmented into:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

Global Artificial Vital Organs and Medical Bionics Market: Competitive Landscape

Key players performing in the global artificial vital organs and medical bionics market are iWalk Inc., Gambro AB (Baxter International Inc.), Fresenius Medical Care AG & Co. KGaA, F. Hoffmann-La Roche Ltd., Ekso Bionics Holdings Inc., Edwards Lifesciences Corporation, Cyberonics Inc., Asahi Kasei Medical Co. Ltd., Abiomed Inc., Abbott Diabetes Care Inc., Thoratec Corporation, Cirtec Medical Systems, MyLVAD, Jarvik Heart, Cleveland Heart, CARMAT, BiVACOR, and SynCardia Systems LLC.