Artificial Vital Organs and Medical Bionics Market By Type (Artificial Organs, Medical Bionics) , By Technology (Mechanical, Electronic) : Global Opportunity Analysis and Industry Forecast, 2024-2033

Artificial Vital Organs and Medical Bionics Market By Type (Artificial Organs, Medical Bionics) , By Technology (Mechanical, Electronic) : Global Opportunity Analysis and Industry Forecast, 2024-2033

The artificial vital organs and medical bionics market was valued at $47.4 billion in 2023, and is projected to reach $99.0 billion by 2033, growing at a CAGR of 7.6% from 2024 to 2033.
Artificial vital organs are medical devices that replace and mimic the functions of naturally occurring organs in individuals whose organs are damaged, dysfunctional, or impaired. These devices aim to restore lost functions, enhance human capabilities, and improve overall quality of life. Bionic implants, on the other hand, are electronic or mechanical devices that are implanted within or attached to the body to enhance or restore specific functions. The development of bioartificial organ manufacturing technologies to produce human organs based on bionic principles acts as a significant milestone in the artificial vital organs and medical bionics market.
The growth of the global artificial vital organs and medical bionics market driven by alarming increase in cases of organ failure, despite advancements in pharmacological, interventional, and surgical therapies. Serious organ dysfunction is not only caused due injuries or diseases but also due to nonlife-threatening disabilities such as loss of eyesight or hearing ability, which decreases the quality of life, thereby augmenting the demand for artificial vital organs. Moreover, shortage of donor organs for transplantation acts as a key driving force of the global market. According to the March 2024 statistics of the Organ Procurement and Transplantation Network—operated under contract with the U.S. Department of Health and Human Services by the United Network for Organ Sharing (UNOS)—approximately 103,223 number of men, women, and children are on the national transplant waiting list. As per the same source, 17 individuals die each day waiting for an organ transplant. Furthermore, surge in geriatric population acts as the key driving force of the global market. This is attributed to the fac that aged individuals are highly susceptible to chronic diseases and organ failure due to functional impairment that limit the ability to carry out day-to-day chores, thus boosting the demand for artificial organ solutions. As per the World Health Organization, the number of people aged 60 years and older was 1 billion in 2019. This number is estimated to increase to 1.4 billion by 2030 and 2.1 billion by 2050, which is likely to significantly contribute toward the market growth. Thus, all these factors substantially contribute to increase in number of organ transplants carried out. The statistics derived from Organ Procurement and Transplantation Network suggest that more than 46,000 organ transplants were performed in 2023. In addition, rise in awareness and acceptance of artificial organ transplants is driving the growth of the market. Increase in cases of accidents causing traumatic injuries and alarming rise in prevalence of diabetes and peripheral vascular diseases that lead to amputations are driving the demand for medical bionics. According to a study published in 2020 in ScienceDirect—the world's leading source for scientific, technical, and medical research—approximately 30,000 to 40,000 civilian injury-related amputations are performed every year in the U.S. To meet the growing demand of amputees, manufacturers are focusing on the development of advanced prosthetic limbs equipped with sensors and actuators mimic the natural movement and functionality of real limbs, significantly improving mobility. However, high cost associated with artificial organ transplants and medical bionics, risk of immune rejection, and ethical conflicts act as the key deterrent factors of the global market. On the contrary, technological advancements in artificial vital organs are expected to offer remunerative opportunities for the expansion of the market during the forecast period. For instance, manufacturers are focusing on enhancing the functionality, monitoring capabilities, and overall effectiveness of artificial organs; thus, they are integrating bioelectronics and digital health technologies into artificial organs, which is expected to revolutionize the organ transplant industry in the coming years.
The artificial vital organs and medical bionics market is segmented into type, technology, end user, and region. Depending on type, the market is categorized into artificial organs and medical bionics. The artificial organs is further segmented into artificial heart, artificial kidney, artificial lungs, and others. The medical bionics is further segmented into orthopedic bionics and others. On the basis of technology, the market is bifurcated into mechanical and electronic. As per end user, it is classified into hospitals, ambulatory surgical centers, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

By type, the artificial organs segment is expected to dominate the market by 2033.
On the basis of technology, the mechanical segment is anticipated to exhibit highest growth during the forecast period.
Depending on end user, the hospital segment is projected to gain high prominence in the coming years.
Region wise, North America was the major revenue generator in 2023, and is likely to dominate the market during the forecast period.

Competition Analysis

Competitive analysis and profiles of the major players in the global artificial vital organs and medical bionics market include SynCardia Systems LLC, Abbott Laboratories, Inc., Cochlear Limited, Boston Scientific Corporation, Johnson & Johnson, Edwards Lifesciences Corporation, Zimmer Biomet Holding Inc., Berlin Heart GmbH, Jarvik Heart, Inc., and Medtronic Plc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.

Key Market Segments

By Type

Artificial Organs
Artificial Heart
Artificial Kidney
Artificial Lungs
Others
Medical Bionics
Orthopedic Bionics
Others

By Technology

Mechanical
Electronic

By Region

North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
SynCardia Systems LLC
Abbott Laboratories, Inc.
Cochlear Limited
Boston Scientific Corporation
Johnson & Johnson
Edwards Lifesciences Corporation
Zimmer Biomet Holding Inc.
Berlin Heart GmbH
Jarvik Heart, Inc.
Medtronic Plc. Show more