Artificial Organ And Bionics Market Size, Share & Trends Report

Artificial Organ And Bionics Market Size, Share & Trends Analysis Report By Product (Artificial Heart, Liver, Kidney Pancreas, Exoskeleton, Cochlear Implant), By Technology (Mechanical, Electronic), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Jul, 2020
  • Base Year for Estimate: 2019
  • Report ID: 978-1-68038-147-4
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 110

Report Overview

The global artificial organ and bionics market size was valued at USD 25.9 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 9.6% from 2020 to 2027. The key drivers of the market for artificial organ and bionics are increasing number of transplants coupled with rising number of people waiting for donors. According to the Human Resource and Services Administration (HRSA), there are more than 112,000 people on the national waiting list in 2020 in U.S. According to the HRSA report, in every 10 minutes a person is added to the transplant waiting list in the U.S., thereby, increasing the demand for the artificial medical devices.

U.S artificial organ and bionics market size

Major factors for organ failure are loss of blood, drug abuse, serious trauma, and other acute diseases. Furthermore, lifestyle disorders such as unhealthy dietary habits, smoking, alcohol consumption, and lack of exercise are also major reasons for organ failure. In addition, development in healthcare facilities and the availability of advanced artificial support systems is also expected to boost the demand for artificial organs and bionics.

Rising global geriatric population is primarily creating demand for organ implants. The number of people aged over 65 years of age receiving and seeking organ transplants is on the rise. Demand for artificial devices in the older population is highest as they are more susceptible to post-transplant malignancies. According to the HRSA, in 2019, there were 8,615 organ transplant procedures performed in the population aged above 65 in the U.S. Thus, increasing life expectancy and rising demand for organ donors is boosting the demand for artificial devices.

Advancements in the field of 3D bioprinting have proven to be crucial in organ transplanting as it is used for developing artificial organs. Demand for 3D bioprinting is relatively high, as it minimized the cases of organ rejection. Furthermore, artificial intelligence is poised to transform the global trends for artificial devices. Currently, many countries are focusing on a tool that provides a customized assessment of organ and donor suitability. This tool would be very helpful in making effective decisions about organ retrieval and will also help patients in deciding if they should accept donor organs or wait for better options.

Product Insights

Artificial organ dominated the market with a share of more than 70.0% in 2019. Demand for kidney, heart, lungs, and liver transplant is contributing to the growth of the segment. The average median waiting time to transplant kidney in the U.S. is 5 years. Many factors are considered while on the waiting lists such as body size, blood type, distance from a donor, and severity of illness. Thus, the challenge in fulfilling unmet demand has compelled the manufacturers to develop bio-lungs, artificial pancreas, and wearable artificial kidney.

The artificial bionics segment is projected to witness the fastest CAGR over the forecast period. Major factors contributing to the growth of the segment are the increasing demand for cochlear implants, vision, exoskeleton, limbs, and brain bionics. Favorable reimbursement policies and fast track FDA approval for implants are further augmenting the growth of the market for artificial organ and bionics. For instance, in November 2017, to facilitate faster entry of Orion bionic eye in the commercial market, the FDA brought the device on its expedited access pathway. The device is a cortical visual prosthesis that uses a camera and a brain implant to bypass the optic nerve in visually impaired people.

Technology Insights

Mechanical bionics dominated the market with a share of 67.4% in 2019. This is primarily attributed to the rising incidence of organ failure and the low cost of mechanical bionics. Mechanical artificial heart valve lasts much longer as compared to the other options, thereby creating a robust demand. Other factors contributing to the growth are speedy FDA approvals and reimbursement policies. For instance, in March 2018, FDA approved Abbott’s world smallest mechanical heart valve. The device is designed to treat the babies and toddlers in the need for a mitral and aortic heart valve.

Germany artificial organ and bionics market share

Electronic bionics segment is expected to register highest growth rate in the artificial organs and bionics market during the forecast period. According to Bionics Queensland, approximately 1.0 billion people are living with a physical disability and 190.0 million adults have major functional difficulty. In most of the developing countries, the logistical and financial barriers remain high. The only option for many who are disabled is to obtain prosthetics such as artificial hands, arm, and legs These prosthetics are battery and electronic systems that are myoelectric-controlled and can create nerve movement through sensors. These sensory electric technologies enable mobility in artificial organs. These devices use personalized computational neuromuscular skeletal models that use machine learning, smart wearables, and element modeling to achieve mobility. In addition, an increasing number of road accidents, rising prevalence of amputees, and individuals born without limbs are expected to create the demand for electronic bionics.

Regional Insights

In 2019, North America dominated the market with a share of 46.1% and is expected to continue its dominance throughout the forecast period. This growth is owing to increasing number of transplantation procedures and rise in need for artificial organ due to high incidence of organ failures. Furthermore, presence of well-developed healthcare facilities and local presence of many large biotechnology and medical devices companies, such as Zimmer Biomet, Arthrex, Inc.; Medtronic; Novartis AG; and Stryker contributes to its dominance. The number of donors in the U.S. has increased significantly in the last 5 years. According to the U.S. Department of Health and Human Services, there is a 27.7% increase in the number of organ donors from 2015 to 2019. Growing demand for kidney transplantation is one of the major drivers of the market for artificial organ and bionics. Kidney transplantation witnessed an exponential growth from 16,186 transplants in 2011 to 23,401 transplants in 2019

In the Asia Pacific, the market is expected to grow at the fastest rate during the forecast period, owing to the emerging economies like Japan, China, and India. These countries have a large population base with a high incidence of chronic diseases. Increase in the number of chronic diseases that lead to organ failure is expected to boost artificial organ and bionics devices growth. For instance, in December 2018, India’s first artificial heart valves technology was launched under the brand name Myval. The device was launched by Meril Life Sciences under the “Make in India” campaign initiative.

The countries are technologically advanced and offer various advanced surgical procedures with booming medical tourism. The low cost of surgical procedures in the region allows a large number of patients to visit for medical reasons. Thus, an increase in the number of chronic diseases leading to organ failure and a rise in medical tourism has contributed significantly to the growth of the market in the region.

Key Companies and Market share Insights

The market for artificial organ and bionics is highly fragmented with the presence of many large, small, and medium-scale vendors. The leading players in the industry are Syncardia, Berlin Heart Gmbh, Ekso Bionics, and Edwards Lifesciences Corporation. These players are engaged in the development of innovative products and regional expansion to gain maximum revenue share in the industry. Mergers and acquisitions support prominent leaders in expanding their existing product portfolio and to increase their geographical footprints. For instance, in 2019, Edwards Lifesciences Corporation announced to launch KONECT RESILA system, a ready to launch tissue valve conduit in 2020.

Rising regulatory approvals for artificial organs, and other materials along with the development of innovative products, such as 3D bioprinting has led to high demand for transplant products. This 3D bioprinting can be used to regenerate tissues and organs. For instance, in April 2019, Open Bionics 3D printed prosthetic arm in the U.S. The company develops 3D technologies to offer customizable 3D printed devices. Some of the prominent players in the artificial organ and bionics market include:

  • Zimmer Biomet

  • Medtronic

  • Abbott

  • ABIOMED, INC

  • Berlin Heart Gmbh

  • Biomet, Inc

  • Boston Scientific Corporation

  • Edward Lifesciences Corporation

  • Ekso Bionics

  • Heartware International, Inc

  • Iwalk, Inc.

  • Jarvik Heart, Inc

  • SynCardia Systems, LLC.

Artificial Organ And Bionics Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 28.5 billion

Revenue forecast in 2027

USD 53.9 billion

Growth Rate

CAGR of 9.6% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, technology, region

Regional scope

North America; Europe; Asia Pacific; South America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; China; Japan; India; South Korea; Australia; Mexico; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE

Key companies profiled

Zimmer Biomet; Medtronic; Abbott; ABIOMED Inc.; Berlin Heart Gmbh; Biomet, Inc.; Boston Scientific Corporation; Edward Lifesciences Corporation; Ekso Bionics; Heartware International, Inc.; Iwalk, Inc.; Jarvik Heart, Inc.; SynCardia.

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Segments Covered in the Report

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 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global artificial organ and bionics market report on the basis of product, technology, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2027)

    • Artificial Organs

      • Kidney

      • Heart

      • Lungs

      • Liver

      • Pancreas

    • Artificial Bionics

      • Cochlear implant

      • Exoskeleton

      • Bionic limbs

      • Vision bionics

      • Brain bionics

  • Technology Outlook (Revenue, USD Million, 2016 - 2027)

    • Mechanical bionics

    • Electronic bionics

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • MEA

      • South Africa

      • Saudi Arabia

      • UAE

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