Vital Organs Support Systems and Medical Bionics Market
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 artificial organs interface with live tissues and fill the void of human organs. Medical bionics is the study of mechanical systems that replicate living organisms or parts of living organisms. The benefits offered by artificial organ support systems and medical bionics are reduced risk of organ rejection, cost-effective alternative for treating multiple diseases, and lowering the dependency on human donors. These benefits are expected to supplement the growth of vital organs support systems and medical bionics market.
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Top 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. Based on medical bionics, the vital organs support systems and medical bionics market is fragmented into bionic eye, ear bionics, orthopedic bionics, cardiac bionics, and neural bionics. The ear bionics segment is sub segmented into cochlear implants, bone anchored hearing systems, and auditory brainstem implants. The orthopedic bionics segment is further divided into upper limb, lower limb, exoskeleton, and electrical bone growth stimulators. The Cardiac bionics segment is further sub segmented into pacemaker, ventricular assist device, and artificial heart valves. The Neural Bionics is further divided into internal neurostimulators and external neurostimulators. 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.
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North 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. Moreover, technological advancements, and presence of well-established healthcare amenities, further promotes the growth of vital organs support systems and medical bionics market, in this region.
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