Emphasis on Type (Artificial Organs and Bionics Sensor); Technology (Mechanical and Electronic); and Region/Country
The Artificial Organs & Bionic Implants Market was valued at USD 35,000 Million in 2022 and is expected to grow at a CAGR of around 6% from 2023-2030. Artificial organs and bionic implants are revolutionary technologies that aim to restore or enhance the functionality of a specific organ or system in the human body. These advancements have the potential to significantly improve the quality of life for individuals with organ failure, disability, or degenerative diseases. For Instance, as per the data of Organ Procurement & Transplantation Network, in year 2021, 41,354 organ transplants were performed in the United States, an increase of 5.9 percent over 2020. The three organ types most commonly transplanted all set annual volume records. There were total of 24,669 kidney transplants, 9,236 liver transplants and 3,817 heart transplants. The demand for artificial organs and bionic implants arises from the need to replace or support the functioning of damaged or non-functional organs. the increasing prevalence of chronic diseases, technological advancements, the aging population, growing awareness, and supportive policies have collectively acted as significant drivers for the Artificial Organs & Bionic Implants market.
Some of the major players operating in the market include ABIOMED; Berlin Heart; Zimmer Biomet; Boston Scientific Corporation; Cochlear Ltd.; Edwards Lifesciences Corporation; Ekso Bionics; Medtronic; Jarvik Heart, Inc; and SynCardia Systems, LLC. etc.
Insights Presented in the Report
“Amongst Type, the artificial organs segment is expected to hold significant share during the forecast period.”
Based on the Type, the market is segmented into artificial organs and Bionics. The artificial organs category hold considerable share of the market in 2022. The segment is experiencing growth primarily due to the increasing demand for kidney, heart, lung, and liver transplants. For Instance, as per the data of Organ Procurement & Transplantation Network, there were totals of 24,669 kidney transplants, 9,236 liver transplants and 3,817 heart transplants in US. In the United States, the average median waiting time for a kidney transplant is approximately 5 years. Consequently, manufacturers have been motivated to address the challenge of meeting the unmet demand by developing innovative solutions such as bio-lungs, artificial pancreases, and wearable artificial kidneys.
“Amongst Technology, the Mechanical segment held the significant share in 2022.”
Based on Technology, the market is categorized into Mechanical and Electronic. Among these, the Mechanical category held a significant share of the market in 2022. Mechanical artificial organs can be used to assist individuals with congenital disabilities or birth defects. For instance, a prosthetic device can help someone with a missing hand to perform daily tasks and lead a more independent life.
Artificial Organs & Bionic Implants Market Report Coverage
“Asia Pacific is expected to grow with the highest CAGR Artificial Organs & Bionic Implants Market during the forecast period.”
The APAC region has witnessed a growing incidence and prevalence of chronic diseases, prompting increased attention from researchers, healthcare professionals, and pharmaceutical companies. Along with this, factors such as the increasing number of organ transplants, enhanced awareness among clinicians, and demographic changes may have contributed to the identification of previously undiagnosed cases. Consequently, this surge has put a spotlight on the need for improved understanding, treatment options, and market potential within the region.
1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Artificial Organs & Bionic Implants Market
6. Market Covid-19 Impact
7. Global Artificial Organs & Bionic Implants Market Revenue, 2020-2030f
8. Market Insights By Type
9. Market Insights By Technology
10. Market Insights By Region
11. Artificial Organs & Bionic Implants Market Dynamics
12. Artificial Organs & Bionic Implants Market Opportunities
13. Artificial Organs & Bionic Implants Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Artificial Organs & Bionic Implants Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Artificial Organs & Bionic Implants Market were the three major steps undertaken to create and analyze the adoption of Peripheral Pulse Oximeters in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of global Artificial Organs & Bionic Implants Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Artificial Organs & Bionic Implants Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Artificial Organs & Bionic Implants Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as modality, service type, and specialist. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Artificial Organs & Bionic Implants Market. Further, we conducted factor analysis using dependent and independent variables such as modality, service type, and specialist of the Artificial Organs & Bionic Implants Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Artificial Organs & Bionic Implants Market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Artificial Organs & Bionic Implants Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Artificial Organs & Bionic Implants Market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the modality, service type, and specialist in the global Artificial Organs & Bionic Implants Market.
The main objective of the Global Artificial Organs & Bionic Implants Market Study
The current & future market trends of the global Artificial Organs & Bionic Implants Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the Artificial Organs & Bionic Implants Market?
Q2: What are the driving factors for the growth of the Artificial Organs & Bionic Implants Market?
Q3: What are the emerging technologies and trends in the Artificial Organs & Bionic Implants Market?
Q4: Which region will dominate the Artificial Organs & Bionic Implants Market?
Q5: Who are the key players operating in the Artificial Organs & Bionic Implants Market?
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