Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

An artificial organ is defined as a man-made device which can be integrated or implanted into the patient so as to replace an original diseased organ and restore its specific function. Medical bionics is the study of application of mechanics and electronics for the replacement of a limb or other part of a functional organ that is mechanically powered.

The global artificial vital organs and medical bionics market is estimated to account for US$ 38,658.6 Mn in terms of value and is expected to reach US$ 73,316.9 Mn by the end of 2027.

Global Artificial Vital Organs and Medical Bionics Market: Drivers

Increasing waiting list for organ transplant is expected to propel growth of the global artificial vital organs and medical bionics market. For instance, according to the U.S. Government Information on Organ Donation and Transplantation, over 112,000 patients are on the national transplant waiting list as of March 2020.

Moreover, increasing prevalence of chronic disorders is also is expected to aid in growth of the market. For instance, according to the American Heart Association's Heart and Stroke Statistics 2019 Update, around 48% of all adults in the U.S. suffered from some type of CVD in 2016. 

Artificial Vital Organs held dominant position in the global artificial vital organs and medical bionics market in 2019, accounting for 59.3% share in terms of value, followed by Medical Bionics.

Figure 1. Global Artificial Vital Organs and Medical Bionics Market Share (%), by Value, by Type, 2019

Artificial Vital Organs and Medical Bionics  | Coherent Market Insights

Global Artificial Vital Organs and Medical Bionics Market: Restraints  

Criticism associated with artificial organ transplant is expected to hinder growth of the market.  Before opting for artificial organ implantation, there are many ethical and physiological aspects to be considered. In the U.S., the ethical aspect refers to clinicians following the Nuremberg Code that includes regulations designed by the Department of Health and Human Services to guard human subjects during experimental research and trials. The physiological aspect includes the inability of a patient in need of heart transplant to make a conscious decision about whether to opt for an artificial heart.

Moreover, artificial heart transplant may lead to death or a disabling injury, which is also expected to limit growth of the market.

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 35,340.4 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 9.6% 2027 Value Projection: US$ 73,316.9 Mn
Geographies covered:
  • North America: U.S.,Canada.
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, UK, Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Africa: South Africa, North Africa, Central Africa
Segments covered:
  • ByType:
    • Artificial Vital Organs: Artificial Heart, Artificial Kidney, Artificial Liver, Artificial Pancreas, Artificial Lungs
    • Medical Bionics: Cochlear Implants, Vision Bionics, Exoskeletons, Bionic Limbs, Brain Bionics, Cardiac Bionics
Companies covered (18):

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.

Growth Drivers:
  • Increasing waiting list for organ transplant
  • Increasing prevalence of chronic disorders
Restraints & Challenges:
  • Criticism associated with artificial organ transplant

Global Artificial Vital Organs and Medical Bionics Market: Opportunities

Increasing geriatric population is expected to offer lucrative growth opportunities for players in the global artificial vital organs and medical bionics market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.           

Moreover, adoption of 3D printing in development of artificial organs is also expected to aid in growth of the market. For instance, in April 2020, researchers at the Tel Aviv University in Israel reported use of human fat tissue to successfully 3D print an artificial heart.

The global artificial vital organs and medical bionics market was valued at US$ 35,340.4 Mn in 2019 and is forecast to reach a value of US$ 73,316.9 Mn by 2027 at a CAGR of 9.6% between 2020 and 2027.

Figure 2. Global Artificial Vital Organs and Medical Bionics Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

Artificial Vital Organs and Medical Bionics  | Coherent Market Insights

Market Trends/Key Takeaways

The number of heart transplants is increasing in the recent past. For instance, according to the Organ Procurement and Transplantation Network (OPTN)/ The Scientific Registry of Transplant Recipients (SRTR), in 2015, 2016, and 2019, the U.S. recorded over 30,000 transplants per year.

Moreover, the number of patients requiring heart transplant is also on the rise. For instance, according to the OPTN/SRTR 2018 Annual Data Report: Heart, the number of new active listings for heart transplant increased by 33.7%, from 2810 to 3756 between 2009 and 2018.

Global Artificial Vital Organs and Medical Bionics Market: Competitive Landscape

Major players operating in the global artificial vital organs and medical bionics market include, 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. 

Global Artificial Vital Organs and Medical Bionics Market: Key Developments

Major players in the market are focused on adopting collaboration strategies to enhance their market share. For instance, in February 2020, Ekso Bionics Holdings, Inc. collaborated with Kindred Healthcare, LLC to pilot EksoNR—a robotic exoskeleton, in their long-term acute care hospitals.

Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in April 2019, Edwards Lifesciences Corporation acquired CAS Medical Systems, Inc., a medical technology company dedicated to non-invasive brain and tissue oxygenation monitoring.

Artificial Vital Organs are man-made devices that are created to work like original diseases organ or to restore a specific function of that organ. These devices are implanted at the site of the diseased organ in the patient. Medical bionics is the study of application of mechanics and electronics for the replacement of a limb or other part of a functional organ that is mechanically powered. Artificial organs can be an artificial heart, artificial kidney, artificial pancreas and others. An artificial organ consists of different parts that mimic functions of the original organ. For instance, artificial pancreas systems comprise of devices that are already used in diabetes management such as Continuous glucose monitoring (CGM) device, insulin pump, blood glucose device (BGD), and digital control device with control algorithm. Artificial pancreas systems are compatible with existing pumps and CGMs and its control functions can be integrated into a regular smartphone.

Restraints of the Global Artificial Vital Organs and Medical Bionics Market

Major factors hampering the growth of the Artificial Vital Organs and Medical Bionics market during the forecast period constitutes of criticism associated with artificial organ transplant, and high costs.

Key features of the study:

  • This report provides in-depth analysis of the global Artificial Vital Organs and Medical Bionics market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Artificial Vital Organs and Medical Bionics market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include 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.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global Artificial Vital Organs and Medical Bionics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Detailed Segmentation

  • Global Artificial Vital Organs and Medical Bionics Market, By Type:
    • Artificial Vital Organs
      • Artificial Heart
      • Artificial Kidney
      • Artificial Liver
      • Artificial Pancreas
      • Artificial Lungs
    • Medical Bionics
      • Cochlear Implants
      • Vision Bionics
      • Exoskeletons
      • Bionic Limbs
      • Brain Bionics
      • Cardiac Bionics
  • Global Artificial Vital Organs and Medical Bionics Market, By Geography:
    • North America
      • By Type
        • Artificial Vital Organs
          • Artificial Heart
          • Artificial Kidney
          • Artificial Liver
          • Artificial Pancreas
          • Artificial Lungs
        • Medical Bionics
          • Cochlear Implants
          • Vision Bionics
          • Exoskeletons
          • Bionic Limbs
          • Brain Bionics
          • Cardiac Bionics
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Type
        • Artificial Vital Organs
          • Artificial Heart
          • Artificial Kidney
          • Artificial Liver
          • Artificial Pancreas
          • Artificial Lungs
        • Medical Bionics
          • Cochlear Implants
          • Vision Bionics
          • Exoskeletons
          • Bionic Limbs
          • Brain Bionics
          • Cardiac Bionics
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Type
        • Artificial Vital Organs
          • Artificial Heart
          • Artificial Kidney
          • Artificial Liver
          • Artificial Pancreas
          • Artificial Lungs
        • Medical Bionics
          • Cochlear Implants
          • Vision Bionics
          • Exoskeletons
          • Bionic Limbs
          • Brain Bionics
          • Cardiac Bionics
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Type
        • Artificial Vital Organs
          • Artificial Heart
          • Artificial Kidney
          • Artificial Liver
          • Artificial Pancreas
          • Artificial Lungs
        • Medical Bionics
          • Cochlear Implants
          • Vision Bionics
          • Exoskeletons
          • Bionic Limbs
          • Brain Bionics
          • Cardiac Bionics
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East:
      • By Type
        • Artificial Vital Organs
          • Artificial Heart
          • Artificial Kidney
          • Artificial Liver
          • Artificial Pancreas
          • Artificial Lungs
        • Medical Bionics
          • Cochlear Implants
          • Vision Bionics
          • Exoskeletons
          • Bionic Limbs
          • Brain Bionics
          • Cardiac Bionics
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Type
        • Artificial Vital Organs
          • Artificial Heart
          • Artificial Kidney
          • Artificial Liver
          • Artificial Pancreas
          • Artificial Lungs
        • Medical Bionics
          • Cochlear Implants
          • Vision Bionics
          • Exoskeletons
          • Bionic Limbs
          • Brain Bionics
          • Cardiac Bionics
      • By Country/Region:
        • Central Africa
        • South Africa
        • North Africa
  • Company Profiles
    • SynCardia Systems, LLC*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • 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
    • Other Major Players

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Technological Advancement
    • Regulatory Scenario
  4. Global Artificial Vital Organs and Medical Bionics Market, By Type, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Artificial Vital Organs
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
        • Artificial Heart
        • Artificial Kidney
        • Artificial Liver
        • Artificial Pancreas
        • Artificial Lungs
    • Medical Bionics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
        • Cochlear Implants
        • Vision Bionics
        • Exoskeletons
        • Bionic Limbs
        • Brain Bionics
        • Cardiac Bionics
  5. Global Artificial Vital Organs and Medical Bionics Market, By Regions, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  6. Competitive Landscape
    • Company Profiles
      • SynCardia Systems, LLC
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • BiVACOR
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • CARMAT
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Cleveland Heart
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Jarvik Heart
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • MyLVAD
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Cirtec Medical Systems
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Thoratec Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Abbott Diabetes Care, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Abiomed, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Asahi Kasei Medical Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Cyberonics, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Edwards Lifesciences Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Other Major Players
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  7. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 22 market data tables and 34 figures on “Artificial Vital Organs and Medical Bionics Market – Global forecast to 2027.

Frequently Asked Questions

The global artificial vital organs and medical bionics market was valued at US$ 35,340.4 Mn in 2019 and is forecast to reach a value of US$ 73,316.9 Mn by 2027 at a CAGR of 9.6% between 2020 and 2027.
Major factor driving the growth of global artificial vital organs and medical bionics market during the forecast period include increasing waiting list for organ transplant, and increasing prevalence of chronic disorders.
Major factors hampering the growth of the Artificial Vital Organs and Medical Bionics market during the forecast period constitutes of criticism associated with artificial organ transplant.
Artificial Vital Organs segment held dominant position in the global Artificial Vital Organs and Medical Bionics market in 2019.
North America Artificial Vital Organs and Medical Bionics market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the 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.
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