Market Overview:
The Artificial vital organs and medical bionics market offers solutions like artificial organs, bionics and other medical devices to replace or support an organ's normal functions. Products in this market help improve patients’ quality of life by restoring their physical capabilities and functionality.
Market key trends:
Artificial pancreas technology is one of the fastest growing segments in this market. An artificial pancreas continuously monitors blood glucose levels and provides precise doses of insulin when needed. This helps manage diabetes more effectively without much user intervention. Growing prevalence of diabetes worldwide is a major driver for this technology. Also, ongoing technological advancements are helping make these systems more user-friendly and affordable. For example, newer systems are smaller, more accurate and can communicate insulin doses via smartphones. This is boosting adoption rates. Further, rising funding for research is also expected to accelerate development of more advanced artificial pancreas systems over the forecast period.
Segment Analysis
The global artificial vital organs and medical bionics market is segmented based on type into artificial organs and medical bionics. The medical bionics segment dominated the market in 2022 owing to the rising demand for bionic implants and exoskeletons. Medical bionics help restore functions lost through trauma or diseases. Bionic implants like cochlear implants, retinal implants, and exoskeletons are dominating the segment.
The global Artificial Vital Organs And Medical Bionics Market Growth is estimated to be valued at US$ 51 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global artificial vital organs and medical bionics market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing prevalence of chronic diseases and rising geriatric population.
Regional analysis
North America is currently the dominant region for the artificial vital organs and medical bionics market owing to presence of advanced healthcare infrastructure and high prevalence of chronic diseases in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period due to rising medical tourism, large population base and improving healthcare facilities.
Key players
Key players operating in the artificial vital organs and medical bionics market are SynCardia Systems, LLC, BiVACOR, CARMAT, Cleveland Heart, Jarvik Heart, MyLVAD, Cirtec Medical Systems, Thoratec Corporation, Abbott Diabetes Care, Inc., Abiomed, Inc., Asahi Kasei Medical Co., Ltd., Cyberonics, Inc., Edwards Lifesciences Corporation, Ekso Bionics Holdings, Inc., F. Hoffmann-La Roche Ltd., Fresenius Medical Care AG & Co. KGaA, Gambro AB (Baxter International, Inc.), and iWalk, Inc.
The global artificial vital organs and medical bionics market size for 2023 is US$ 51 Bn. The market is forecasted to reach US$ 98 Bn by 2030, expanding at a CAGR of 10% during the forecast period.
The Global Vital Organs Support Systems and Medical Bionics Market size was valued at USD 33.88 billion in 2019 and is predicted to reach USD 93.80 billion by 2030, with a CAGR of 9.7% from 2020-2030.The Organ Support System comprises of artificial organs that are designed to perform the function of natural human organs, and are utilized as a substitute of lost body organ, replacement of the damaged organ, and as a support to the existing organs.
These benefits are expected to supplement the growth of vital organs support systems and medical bionics market.Access Full Description of this report at:-https://www.nextmsc.com/report/vital-organs-support-systems-and-medical-bionics-marketTop Companies: Abbott Laboratories, Abiomed, Inc., Baxter International Inc., Asahi Kasei Corporation (Evaheart Medical U.S.A., Inc.), Cochlear Ltd., Boston Scientific Corporation, Jarvik Heart, Inc., Edwards Lifesciences Corporation, Össur Americas, Inc., Medtronic Plc., SynCardia Systems LLC and others.The global vital organs support systems and medical bionics market share has been analyzed based on vital organ support systems, medical bionics, end user and geography.
Based on vital organ support systems, the market is segmented into artificial heart, artificial kidney, artificial pancreas, artificial urinary bladder, artificial lungs, and artificial liver.
The ear bionics segment is sub segmented into cochlear implants, bone anchored hearing systems, and auditory brainstem implants.
Based on target disease, the vital organs support systems and medical bionics market is divided into hospitals, ambulatory surgical centers, and others.
Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.Request sample copy of this report at:-https://www.nextmsc.com/vital-organs-support-systems-and-medical-bionics-market/request-sampleNorth America is expected to maintain its dominance in the global vital organs support systems and medical bionics market, owing to the presence of developed economies and increased adoption of vital organs support systems and medical bionics in this region.
These consist of several systems such as artificial kidneys, cochlear implants, pacemakers and many more which helps in the normal functioning of body organs.Global Vital Organs Support Systems and Medical Bionics Market report is segmented on the basis of vital organ support system, medical bionics, end user and by regional.
Based upon vital organ support system, the vital organs support systems and medical bionics market is fragmented into artificial heart, artificial kidney, artificial pancreas, artificial urinary bladder, artificial lungs, and artificial liver.
On the basis of end user, the market is fragmented into hospitals, ambulatory surgical centers & others.
The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.The vital organs support systems and medical bionics market is mainly driven by the rising prevalence of the chronic disorders along with the organ failure cases.
However, high cost of medical bionics supported by the stringent regulatory policies for the approval of new products in the market is expected to inhibit the market growth.Download sample copy of this report at https://www.nextmsc.com/vital-organs-support-systems-and-medical-bionics-market/request-sampleThe developed regions such as North America and Europe are expected to hold the major market share owing to the presence of developed healthcare facilities along with high adoption rate of artificial devices & medical bionics in daily life.
Moreover, rising demand for organ transplant surgeries with surge in awareness among people is likely to fuel the market growth.The major market players profiled in the vital organs support systems and medical bionics market includes Abbott Laboratories, Abiomed, Inc., Baxter International Inc., Asahi Kasei Corporation (Evaheart Medical U.S.A., Inc.), Cochlear Ltd., Boston Scientific Corporation, Jarvik Heart, Inc., Edwards Lifesciences Corporation, Össur Americas, Inc., Medtronic Plc., SynCardia Systems LLC., and Second Sight Medical Products, Inc. among others.About Us:Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share.
The Global Vital Organs Support Systems and Medical Bionics Market Report, with its in-depth industry analysis of the market, estimates the industry size bifurcated into segments and regions.
Besides, it sheds light on comprehensive competitive landscape of global market.
The study supplementary offers dashboard outline of the major players encompassing their fruitful marketing plans, recent developments, market contribution etc.
in both historic and the present contexts.Why Vital Organs Support Systems and Medical Bionics Report is Important to You:Vital Organs Support Systems and Medical Bionics Market Research Report includes various topics that will brief you about total industry Size, Key Market Drivers, Challenges, Growth Opportunities, Industry Share, Growth, Demand, Outlook etc.
Furthermore, it covers Covid-19 Impact , key market updates, the impact of regulations and technological updates in.
The report addresses the need to stay updated in this competitive market conditions and this provides and comprehensive data for making strategies and decision to stimulate the market growth and profitabilityRequest PDF Copy @ https://www.datalibraryresearch.com/sample-request/vital-organs-support-systems-and-medical-bionics-market-2340?utm_source=free_medium=60Major Prominent Key Vendors are: Baxter International Inc.,Cochlear Ltd ,Edwards Lifesciences Corporation,Heartware International Inc,Abbott Laboratories,Abiomed, Inc.,Asahi Kasei Corporation,Boston Scientific Corporation,,Jarvik Heart, Inc.,Medtronic Plc.,Össur Americas, Inc.,Second Sight Medical Products, Inc.,SynCardia Systems LLC.,Getinge AB,LivaNova PLC,Fresenius Medical Care AG & Co. KGaA,Heartware International Inc.,BiVACORSegmentation:The research report has combined analysis of diverse factors that supplement market’s growth.
