Artificial Vital Organs and Medical Bionics Market Size, Share and Industry Report 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Artificial Vital Organs and Medical Bionics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global artificial vital organs and medical bionics market share, size and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Artificial Vital Organs and Medical Bionics Market?

The global artificial vital organs and medical bionics market size reached US$ 44.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 63.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6.08% during 2023-2028.

What are Artificial Vital Organs and Medical Bionics?

Artificial vital organs are medical devices designed to take over the function of essential organs that have failed or are impaired. They aim to replicate the core tasks of organs like the heart, lungs, or kidneys. Medical bionics refers to the science of creating artificial devices or systems that can mimic the function of biological systems within the human body. They can replace or augment natural biological functions, which improves the quality of life for patients who have lost those functions due to disease, injury, or congenital issues.

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What are the growth prospects and trends in the artificial vital organs and medical bionics industry?

The increasing number of cases related to kidney, heart, and liver failure and chronic obstructive pulmonary disease (COPD) represents one of the primary factors driving the demand for artificial vital organs and medical bionics around the world.

Moreover, the rising awareness about the availability and benefits of medical bionics and artificial organs is favoring the growth of the market. In addition, the growing standard of healthcare institutions and the availability of specialized care are promoting the use of medical bionics and artificial organs.

Apart from this, the increasing number of global partnerships in medical research and technology and extensive research and development (R&D) projects are influencing the market positively.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product Type:

Artificial Vital Organs
- Artificial Liver
- Artificial Heart
- Artificial Pancreas
- Artificial Kidney
- Artificial Lungs
- Oxygenators
Medical Bionics
- Bionic Limbs
- Vision Bionics
- Ear Bionics
- Exoskeletons
- Brain Bionics
- Heart Valves
- Cardiac Bionics

Breakup by Application:

Hospitals
Clinics
Others

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Abiomed
BiVACOR Inc
CARMAT
Cirtec Medical
Edwards Lifesciences
Ekso Bionics Holdings Inc.
Nikkiso Co. Ltd.
Second Sight Medical Products Inc
SynCardia Systems LLC (Picard Medical Inc.)

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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