Artificial Organ and Bionics Market is driven by Rising Prevalence of Amputees and Individuals Born without Limbs

San Francisco, Calif., USA, May 29 2023 — /EPR Network/ —

Artificial Organ and Bionics Industry Overview

The global artificial organ and bionics market size was valued at USD 25.3 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030. The key drivers of the market for artificial organs and bionics are the increasing number of transplants, coupled with the rising number of people waiting for donors. According to the Human Resource and Services Administration (HRSA), there are more than 106,108 people on the national waiting list in 2022 in the U.S. The HRSA reports that every nine minutes, a person is added to the transplant waiting list in the U.S., resulting in greater demand for artificial medical devices.

The COVID-19 pandemic arose as an unprecedented health crisis, adversely affecting the artificial organ and bionics market. The coronavirus pandemic has affected millions of people worldwide, resulting in significant deaths, disease burden, and financial instability. The healthcare system and facilities were under extreme strain as a result of the massive patient influx.

Gather more insights about the market drivers, restraints, and growth of the Global Artificial Organ and Bionics Market

The delay in other medical procedures was caused by prioritizing patients afflicted by COVID-19, affecting the market growth. This delay impacted many elective procedures, further reducing product adoption. Orthopedic bionic devices are widely used after amputation surgery to help partially or completely restore movement in limbs or arms. Although, the decreased number of amputation procedures during the epidemic hampered industry growth by lowering device acceptance rates. However, due to the ease of lockdowns and several restrictions, the market is expected to flourish during the forecast period.

Primary 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, excessive alcohol consumption, and lack of exercise negatively impact organ function. In addition, development in healthcare facilities and the availability of advanced artificial support systems are expected to boost the demand for artificial organs and bionics.

Browse through Grand View Research’s Medical Devices Industry Related Reports

Cochlear Implant Market – The global cochlear implant market size was valued at USD 1.6 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 8.91% from 2023 to 2030.

3D Bioprinting Market – The global 3D bioprinting market size was valued at USD 2.0 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.5% from 2023 to 2030.

Artificial Organ and Bionics Market Segmentation

Grand View Research has segmented the global artificial organ and bionics market based on product, technology, and region:

Artificial Organ And Bionics Product Outlook (Revenue, USD Million, 2017 – 2030)

• Artificial Organs
• Artificial Bionics

Artificial Organ And Bionics Technology Outlook (Revenue, USD Million, 2017 – 2030)

• Mechanical bionics
• Electronic bionics

Artificial Organ and Bionics Regional Outlook (Revenue, USD Million, 2017 – 2030)

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

Market Share Insights:

March 2022: Edwards Lifesciences confirmed that the MITRIS RESILIA valve, it’s a tissue valve replacement specially developed for the heart’s mitral position, has obtained FDA clearance.

March 2022: Zimmer Biomet Holdings, Inc. released WalkAI, an evolving AI design that recognizes patients1 who are expected to have a lesser gait speed outcome ninety days after hip or knee surgical intervention.

Key Companies profiled:

Some prominent players in the global 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.

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