Artificial Vital Organs And Medical Bionics Market (2024 - 2030) Size, Share & Trends Analysis Report By Artificial Organs (Heart, Kidney, Liver), By Bionics (Ear Bionics, Vision Bionics, Exoskeletons), By Region, And Segment Forecasts

Market Size & Trends

The global artificial vital organs and medical bionics market size was valued at USD 37.6 billion in 2023 and is projected to grow at a CAGR of 9.3% from 2024 to 2030. Market growth has been driven by several factors, including advancements in technology, rising incidence of disorders, and an aging population. Moreover, increased investment in research and development, as well as the growing number of patients waiting for organ transplants, have contributed to the market’s growth. Furthermore, government efforts to ensure patient safety have also stimulated market growth.

Market growth worldwide is driven by a confluence of demographic shifts and technological advancements. The increasing number of individuals over the age of 65, who are more susceptible to organ failure, is a major factor driving demand for organ implants and artificial vital organs. According to the Directorate General of Health Services, India alone has over 1.8 lakh people suffering from renal failure, with only 60,000 receiving transplants, while over 2 lakh people suffer from liver failure or cancer, with only 1,500 transplants performed. As the global population ages, the need for effective solutions to address organ failure has become more pressing, creating opportunities for market players to develop innovative products.

Continuous technological breakthroughs in medical research and biomedical engineering are also contributing to market expansion. The shortage of donor organs for transplantation, which results in lengthy waiting times and limited availability of suitable donors, has created a high demand for artificial vital organs. Furthermore, the rising prevalence of chronic diseases, such as heart disease, diabetes, and kidney disease, which often result in organ failure, is another significant factor contributing to market growth.

Growing healthcare expenditure, particularly in emerging economies, is another driver for market growth. As patients seek to improve their quality of life and extend their lifespan, the adoption of artificial vital organs and medical bionics is increasing. Moreover, positive government actions to protect patient safety standards and research activities, as well as increasing awareness about public and private reimbursement policy coverages, are boosting adoption rates and creating opportunities for market players.

Artificial Organ Insights

The heart segment dominated the market with a revenue share of 57.3% in 2023. This increase is happening due to an increase in the incidence of chronic diseases, scarcity of hearts for transplant, and advancement of the operations and potent effective drugs and treatment. Advanced transplant of artificial parts, and bionics equipment such as artificial hearts, livers, eyes, etc. due to their better biological compatibility, safety, and life span turn the life of a patient into a better one.

The pancreas segment is expected to experience the fastest growth with a CAGR of 10.4% over the forecast period. The primary driver for this is an increase in the number of diabetic patients. Furthermore, Advancements in technology, enhancement in surgical procedures, and impressive success rates of surgeries are the reasons behind the market expansion of pancreas transplants in the forecast period. Pancreas transplantation patients are enduring improved results and quality of life. Better survival outcomes and other long-term impacts of pancreas transplants have contributed to the patient’s awareness of the benefits of the procedure.

Bionic Insights

Brain bionics dominated the artificial vital organs and medical bionics market with a revenue share of 34.9% in 2023. Increased prevalence of neurological conditions such as Parkinson’s disease, depression, and epilepsy are driving market growth. Moreover, advancements in technology regarding neural implants, neuroprosthetics, and improvements in treatments help patients with new hope and quality of life with this more patients are getting diagnosed with the treatment.

Exoskeleton bionics are expected to register the fastest growth over the forecast period with a CAGR of 10.6%. Exoskeletons are more often applied in the context of rehabilitation from strokes, spinal cord injuries, or other neurological disorders enhancing movement and motor skills. Moreover, the rapidly aging population is also increasing the demand for exoskeletons since individuals in their old age require assistance in moving around. Apart from healthcare, exoskeleton technology is being used in construction, logistics, and manufacturing to avoid work-related accidents and to increase worker performance. The cases of spinal cord injuries that cause paralysis further boost the bionic exoskeleton market as they result in permanent disabilities.

Regional Insights

North America artificial vital organs and medical bionics market dominated the global artificial vital organs and medical bionics market with a revenue share of 44.6% in 2023. This growth can be attributed to different factors together with technological development, an increase in investment in research and development, positive assistance from the government, and an upward push in the variety of patients who are geared up for analysis.

U.S. Artificial Vital Organs And Medical Bionics Market Trends

U.S. artificial vital organs and medical bionics market dominated the North America artificial vital organs and medical bionics market with a revenue share of 71.8% in 2023 and is expected to grow during the forecast period due to well-established healthcare infrastructure and high demand for advanced medical technologies such as artificial vital organs and medical bionics.

Europe Artificial Vital Organs And Medical Bionics Market Trends

Europe artificial vital organs and medical bionics market was identified as a lucrative region in this industry. Increasing awareness regarding healthcare, enhancement of healthcare infrastructure, and rapid technological advancements are some of the factors driving market growth. In addition, there is an increase in the adoption of artificial organs, high levels of technologies, and better healthcare infrastructure is likely to drive the market growth.

The UK artificial vital organs and medical bionics market has a significant market share. The shortage of organ donors and the high demand for artificial vital organs driving the growth of the market. There is a growing fashion inside the UK towards implantable medical bionics, which offers extra permanent answers as compared to external gadgets.

The artificial vital organs and medical bionics market in Germany is expected to grow in the forecast period due to the rising prevalence of chronic diseases that require organ replacement and bionic implants. With the increase in the geriatric population, the rise in chronic diseases is a common result of an increase in market growth.

Asia Pacific Artificial Vital Organs And Medical Bionics Market Trends

Asia Pacific artificial vital organs and medical bionics market is expected to the fastest growth in the forecast period with a CAGR of 11.1%. Due to rising disposable income, elevated healthcare infrastructure, and awareness the marketplace is displaying growth within the forecast period. Countries inside the Asia Pacific place have an excessive population base with a massive amount of people with continual diseases that may pressure the marketplace boom.

China artificial vital organs and medical bionics market is expected to grow in the forecast period due to a rise in chronic diseases that lead to organ failure and an increase in the geriatric population driving the market growth. Due to rapid urbanization, people tend towards unhealthy diets and consumption of alcohol which result in organ failure and drive the growth of the market.

The artificial vital organs and medical bionics market in India is expected to have significant growth in the forecast period. This growth can be attributed to the rise in the geriatric population, increase in the road accidents, and enhancement in the technology.

Key Artificial Vital Organs And Medical Bionics Company Insights

The market is characterized by multiple players, including established brands, startups, and specialty companies, with major players focusing on developing advanced artificial organs and medical bionics through ongoing research and innovation. Some key companies in the artificial vital organs and medical bionics market include Medtronic, Inc.; LifeNet Health; Terumo Corporation; Ekso Bionics Holdings, Inc.; Nano Retina Ltd.; and Edwards Lifesciences Corporation.

• Medtronic designs, develops, manufactures, and markets medical devices and solutions. The products and services are intended to address several cardiovascular diseases and conditions including vascular diseases, heart failure, neurological disorders, and spinal and musculoskeletal disorders. Moreover, it offers biologic products for orthopedic and dental businesses and is a giant in the manufacture of pacemakers.

• Edwards Lifesciences Corporation is involved in research, production, and sales of equipment that is used in structural heart and critical care and surgical monitoring areas. In addition, the company provides transcatheter heart valve repair and replacement products for treating mitral and tricuspid valve diseases.

Recent Developments

• In January 2024, EKSO Bionics introduced GaitCoach, a gait therapy software. The software was designed to enhance the patient experience with exoskeletons, aiming to increase user confidence and provide meaningful feedback.

• In April 2023, Medtronic announced the launch of Mozarc Medical, an unbiased agency committed to reshaping the fitness of kidney fitness and riding affected person-focused technological innovation.

Artificial Vital Organs And Medical Bionics Market Report Scope

Global Artificial Vital Organs And Medical Bionics Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global artificial vital organs and medical bionics market report based on artificial organs, bionics, and region.

• Artificial Organs Outlook (Revenue, USD Million, 2018 - 2030)

  • Heart

  • Kidney

  • Liver

  • Pancreas

  • Lungs

• Bionics Outlook (Revenue, USD Million, 2018 - 2030)

  • Ear Bionics

  • Vision Bionics

  • Exoskeletons

  • Bionic Limbs

  • Brain Bionics

  • Cardiac Bionics

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait