What Fueled The Previous Growth In The Artificial Organ And Bionics Market?
The artificial organ and bionics market has seen considerable growth due to a variety of factors.
•In recent years, the size of the artificial organ and bionics market has seen significant growth. Its expansion from $32.82 billion in 2024 to $36.14 billion in 2025, at a compound annual growth rate (CAGR) of 10.1%.
is noteworthy. The historical period's growth is the result of factors such as the increase in chronic diseases, advancements in medical research and innovation, greater acceptance of transplants, government support and funding, and enhancements in biocompatibility.
What Is The Expected Growth In The Artificial Organ And Bionics Market Size?
The artificial organ and bionics market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, there is predicted to be a significant surge in the artificial organ and bionics market, which is projected to swell to a worth of $56.71 billion by 2029, with a compound annual growth rate (CAGR) of 11.9%.
This acceleration in growth during the prediction period can be ascribed to escalating healthcare expenditure, the rise of personalized medicine, regulatory backing along with smooth approval processes, swift progress in 3D printing, and an increase in collaborations and partnerships. Propelling trends during this period include the downsizing and adoption of wearable technology, technological developments, the integration of sophisticated materials, the application of AI and machine learning in design, and advancements in 3D and bioprinting.
What Are the Critical Driver Fuelling the Artificial Organ And Bionics Market's Growth?
The anticipated growth of the artificial organ and bionics market is likely to be propelled by increasing healthcare expenditure. The phrase 'healthcare expenditure' refers to all expenditures relating to health care activities, including both private and public health insurance, research related to health, and public health initiatives. By investing in healthcare, the door for technological innovations is opened, potentially leading to the development of more cutting-edge and effective artificial organs. This may incorporate enhancements in materials, structural design, and manufacturing methodologies. For example, in December 2023, the US-based national agency, Centers for Medicare and Medicaid Services, reported a 4.3% growth in national health expenditures in the United States in 2022; a spike from the 2.7% growth observed in 2021. Consequently, increased healthcare spending is prompting the growth of the artificial organ and bionics market.
How Is the Artificial Organ And Bionics Market segmented?
The artificial organ and bionics market covered in this report is segmented –
1) By Product: Artificial Organs, Artificial Bionics
2) By Fixation Type: Implantable And Externally-Worn, Cardiac Bionics And Brain Bionics
3) By Technology: Mechanical Bionics, Electronic Bionics
Subsegments:
1) By Artificial Organs: Artificial Heart, Artificial Kidney, Artificial Liver, Artificial Pancreas, Artificial Lungs
2) By Artificial Bionics: Bionic Limbs, Bionic Eyes, Exoskeletons, Neural Prosthetics
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What New Trends Are Influencing the Artificial Organ And Bionics Market?
Major corporations are channeling their investments towards firms active in the artificial organs and bionics industry, aiming to bring unprecedented advancements in the organ transplantation domain. These investments assist in producing artificial organs, intending to counteract the lack of donor organs via the creation of functional and biocompatible substitutes, thus providing a ray of hope for transplant recipients, and potentially redefining the future of transplant medicine. For example, in April 2022, the Canadian Government allocated $2 million towards research projects on pioneering organ and tissue donation techniques, targeted at improving organ donation and transplantation effectiveness, addressing the needs of Canadians and enhancing access to superior donation and transplantation services. This financial aid belongs to the Networks of Centers of Excellence Program, which backs research on organ donation and transplantation in Canada.
Who Are the Key Players in the Artificial Organ And Bionics Market?
Major companies operating in the artificial organ and bionics market include:
• Abiomed Inc.
• Asahi Kasei Medical Co.
• Ltd
• Baxter
• Berlin Heart GmbH
• Boston Scientific Corporation
• Cyberonics Inc.
• Ekso Bionics Holdings Inc.
• Getinge AB
• Medtronic PLC
• Bornlife Prosthetic and Orthotic Inc.
• Sonova
• LifeNet Health
• Terumo Corporation
• Nano Retina Ltd
• Edwards Lifesciences Corporation
• Orthofix Medical Inc
• Cochlear Limited
• Advanced Bionics AG
• Ottobock SE & Co. KGaA
• Second Sight Medical Products Inc.
• iWalk Inc.
• Jarvik Heart Inc
• St. Jude Medical Inc.
• Harmonic Bionics Inc.
• Open Bionics
• Beta Bionics Inc.
• Bionic Prosthetics and Orthotics
• Mobius Bionics
• Touch Bionics Ltd
• Phytowelt GreenTechnologies GmbH
What Is The Most Dominant Region In The Artificial Organ And Bionics Market?
North America was the largest region in the artificial organ and bionics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global artificial organ and bionics market report during the forecast period. The regions covered in the artificial organ and bionics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
