Global Artificial Organs and Bionics Implants Market Size, Segmentation, Trends and Growth Analysis Forecast by 2030

Artificial Organs and Bionics Implants Market Overview and Analysis:

The Artificial Organs and Bionics Implants Market is currently valued at USD 28.9 billion in the year 2022 and is expected to register a CAGR of 8.4% over the forecast period, 2022-2030.

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Artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. These devices can replicate or augment the natural function of the organ. Bionics refers to the replacement or improvement of body parts by mechanical kinds.

Factors such as the rising incidence of organ failures, high incidence of road accidents leading to amputations, scarcity of organ donors, and technological advancements are anticipated to drive market growth over the forecast period.

Artificial Organs and Bionics Implants Market Latest Trends:

The future trends of artificial organs are mainly focused on the development of replacement organs but also on artificial organ technologies for therapeutic or preventative medicine. By applying these types of technologies, the outcome of early end-stage organ failure can be prevented and the need for artificial hearts, artificial kidneys, orthopedic implants, and various implantable artificial organs reduced.

Segmentation:

The Artificial Organs and Bionics Market is segmented

By Type

• Artificial Organ
• Bionics

Geography

• North America
• Europe
• Asia-Pacific
• Middle East
• Africa
• South America 

The report offers the value (in USD million) for the above segments.

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Drivers:

Increased Incidence of Disabilities and Organ Failures and High Incidence of Road Accidents Leading to Amputations

The latest data published by WHO in March 2023, reported that an estimated 1.3 billion people experience significant disability. This represents 16% of the world’s population or 1 in 6 of us. Similarly, the latest data published by the Ministry of Road Transport and Highways in December 2022, reported that road accidents in 2021 increased by. 12.6 percent on average compared to the previous year 2020 in India. Thus, high road accidents may also lead to organ damage, which may demand for organ transplants, thereby driving the growth of the studied market.

Scarcity of Donor Organs and Technological Advancements in Artificial Organ and Bionics

The scarcity of organ donors caused by a high number of road accidents also drives increased demand for artificial organs. For instance, in October 2022, Japan Organ Transplant Network reported that as of September 2022, 15,573 people registered for organ transplantation, and only 82 people were available for this donation; that is, five donors per 1000 recipients are public, a still significant number of people will have to face scarcity of organs. Similarly, the data published by the Health Resource and Service Administration in January 2023, reported that 88,901 patients were waiting globally for kidney transplants, followed by 10,625 patients waiting for liver transplants and 3,365 patients waiting for heart transplants in the year 2022. Thus, this data demands an increasing need for artificial organ transplantation, thereby increasing the demand for artificial organs, thus driving the growth of the studied market.

Furthermore, the recent developments are propelling the growth of the studied market. For instance, in August 2022, the American Society of Nephrology and the United States Department of Health and Human Services offered USD 10.5 million for a new prize competition from the Kidney Innovation Accelerator. Phase 2 of the Artificial Kidney Prize competition is looking for suggestions for creating prototype bioartificial kidneys, as well as any novel equipment or parts that would make them possible. Thus, the market is expected to witness high growth over the forecast period.

Expensive Procedures and Compatibility Issues and Malfunctions

The data published by Mast Surgical Labs in October 2022, reported that a heart transplant is one of the most expensive surgeries in the world, with costs ranging from USD 1.38 million to USD 1.66 million. The cost goes well beyond the doctors’ and nurses’ time. Thus, such instances show that it may become difficult for middle-class families and thus few patients can adopt this procedure, thereby slowing down the growth of the studied market.

Moreover, an article titled, “Artificial Tissues and Organs - Interim Support Before Long-term Replacement” published in October 2022, reported that most artificial organ transplant procedures may lead to compatibility issues which may cause problems for patients, thereby slowing down the growth of the studied market.

COVID-19 Impact On Artificial Organs and Bionics Implants Market 

The COVID-19 virus has impacted the global healthcare system and has significantly impacted the artificial organs and the bionics market. For instance, an article published by the journal Surgery Today in October 2021 reported that the COVID-19 pandemic has influenced Japan's transplantation surgical procedures and has affected transplantation activity significantly. The article also said that the COVID-19 pandemic suspended transplantation surgeries in Japan among 48% of the transplantation centers, including 78% of the kidney transplantation centers, and reduced the number of organ donations to 61%. Thus, the pandemic slowed down organ transplantation surgeries in Japan.

Segmental Analysis:

Artificial Organ Segment is Expected to Witness Significant growth Over the Forecast Period

The artificial organ segment is expected to witness significant growth over the forecast period, owing to the increasing geriatric population in the country and the rising incidence of heart diseases, thereby increasing demand for artificial hearts, thus driving the growth of the studied market.

The increasing number of kidney diseases among the population is the key factor driving the market growth. For instance, as per the data published by the Australian Institute of Health and Welfare, in August 2022, about 17,700 deaths with chronic kidney diseases were reported in Australia, in 2020. In addition, as per the same source, 76% of these deaths had chronic kidney disease (CKD) reported as an associated cause of death, and 76% reported chronic kidney disease (CKD) as an associated cause of death.

Further, technological developments and the development of artificial heart models are driving the growth of this segment. For instance, in June 2022, the University of Tokyo reported that they had developed a personal heart model from medical data to make a rational diagnosis based on the mechanism of disease. Thus, such developments and studies provide better results, driving the segment's growth.

Asia-Pacific Region is Expected to Witness Significant Growth Over the Forecast Period

The Asia-Pacific region consists of China, India, Japan, Australia South Korea, and other countries. The region is expected to witness significant growth over the forecast period due to increasing organ failure and the presence of major players in the region.

The increasing number of organ failure cases in the geriatric population in Japan causes an increased demand for artificial organs. The growing prevalence of many chronic diseases in the aging population, like cholesterol, heart diseases, and chronic kidney disorders, poses a harmful effect on the organs, thereby increasing demand for organ transplantation. For instance, an article published by the Journal of Personalized Medicine in January 2022 reported that the estimated prevalence of CKD in Japan is 13%. Chronic kidney disorder leads to lifelong dialysis in many cases, which demands increasing organ transplantation, thus driving the growth of the studied market.

Furthermore, the recent developments are fueling the studied market growth. For instance, In June 2022, Cochlear introduced Australian medical technology to India with agreement Australian-India Economic Cooperation and Trade Agreement (AIECTA) increasing the affordability of cochlear implants in India. Thus, the above-mentioned factors are driving the growth of the studied market in the region.

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Competitive Landscape:

The market for artificial organs and bionics is moderately competitive. The major players in the artificial organs and bionics market are:

• Abiomed,
• Asahi Kasei Medical Co. Ltd
• Baxter
• Boston Scientific Corporation
• Ekso Bionics Holdings Inc.
• Getinge AB
• Medtronic
• Ossur
• 0thers.

Recent Developments:

1) In March 2022, scientists from the Department of Biomaterials, Japan, received the Kyushu University Inoue Harushige Prize Award for developing the chemical composition for artificial bone composition (carbonate apatite).

2) In January 2022, IIT-Kanpur launched a project to develop an advanced artificial heart. This program was launched in collaboration with a few hospitals in India and will be steered by a team of innovators with relevant experience selected under the mentorship of a task force comprising industry experts.

Frequently Asked Questions (FAQ) :

Q1. What is the market size of the Artificial Organs and Bionics Implants Market ?

Q2. What is the Growth Rate of the Artificial Organs and Bionics Implants Market ?

Q3. What are the Growth Drivers of the Artificial Organs and Bionics Implants Market ?

Q4. Which are the major companies in the Artificial Organs and Bionics Implants Market ?