Artificial Organ And Bionics Market Demand, Analysis, Size, Share And Forecast Report 2024 To 2033

The Business Research Company offers in-depth market insights through Artificial Organ And Bionics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The artificial organ and bionics market size has grown rapidly in recent years. It will grow from $30.32 billion in 2023 to $33.68 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to rising chronic diseases, medical innovation and research, growing acceptance of transplants, government initiatives and funding, improvements in biocompatibility.

The artificial organ and bionics market size is expected to see rapid growth in the next few years. It will grow to $50.71 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to increasing healthcare expenditure, personalized medicine, regulatory support and streamlined approvals, rapid advancements in 3d printing, collaborations and partnerships. Major trends in the forecast period include miniaturization and wearable technology, technological advancements, advanced materials integration, ai and machine learning in design, 3d printing and bioprinting advancements.

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Market Segmentation:
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

Major Driver - Healthcare Investment Propels Growth In Artificial Organ And Bionics Market

Rising healthcare expenditure is expected to propel the growth of the artificial organ and bionics market going forward. Healthcare expenditure refers to the total amount spent on health care and related activities, including private and public health insurance, health research, and public health activities. Investment in healthcare allows for technological innovation, which can lead to the creation of more advanced and efficient artificial organs. This can include improvements in materials, design, and manufacturing processes. For instance, according to the Centers for Medicare and Medicaid Services, a US-based federal agency, national health expenditures in the United States grew by 4.3% in 2022, which is an increase from the 2.7% growth seen in 2021. Therefore, the rising healthcare expenditure is driving the artificial organ and bionics market.

Competitive Landscape:
Major companies operating in the artificial organ and bionics market report are Abiomed Inc., Baxter International Inc., Berlin Heart GmbH, Boston Scientific Corporation, Ekso Bionics Holdings Inc., Össur hf, Medtronic plc, Zimmer Biomet Holdings Inc., Abbott Laboratories, Edwards Lifesciences Corporation, iWalk Inc., Jarvik Heart Inc., SynCardia Systems LLC, Nipro Corporation, Open Bionics Ltd., Second Sight Medical Products Inc., Cochlear Limited, HeartWare International Inc., Cyberonics Inc., Getinge AB, Bornlife Prosthetic and Orthotic Inc., Sonova Holding AG, Touch Bionics Limited, Orthofix Medical Inc., Ottobock SE & Co. KGaA, Terumo Corporation, LivaNova PLC, MED-EL Elektromedizinische Geräte GmbH, Retina Implant AG, Stryker Corporation, Smith & Nephew plc

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Top Trend - Investments Driving Innovation In Artificial Organs And Bionics
Major companies are investing in the companies operating in the artificial organs and bionics market to revolutionize the field of organ transplantation. This investment helps companies develop artificial organs to address the shortage of donor organs by creating functional, bio-compatible replacements, offering hope for patients in need of organ transplants, and potentially transforming the future of transplantation medicine. For instance, in April 2022, the Government of Canada invested $2 million in research on innovative organ and tissue donation projects, aimed at improving organ donation and transplantation performance that meets Canadians' needs and improves access to quality donation and transplantation services. The funding is part of the Networks of Centres of Excellence Program, which supports organ donation and transplantation research in Canada.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Artificial Organ And Bionics Market Characteristics
3. Artificial Organ And Bionics Market Trends And Strategies
4. Artificial Organ And Bionics Market - Macro Economic Scenario
5. Artificial Organ And Bionics Market Size And Growth
…..
27. Artificial Organ And Bionics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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