Artificial Organs And Bionic Implants Market Size, Share, Opportunities, And Trends By Products (Artificial Organs, Artificial Bionics), By Method Of Fixation (Implantable, Externally Worn), By Technology (Mechanical Bionics, Electronic Bionics), And By Geography - Forecasts From 2024 To 2029

The Artificial organs and bionic implants market is anticipated to grow at a steady pace during the projected period.

Artificial organs and bionic implants represent groundbreaking advancements in medical technology aimed at replacing or augmenting the functionality of natural organs or body parts. Artificial organs are created through a combination of engineering, materials science, and biology to replicate the functions of specific organs in the human body. These can include artificial hearts, kidneys, lungs, and more, providing life-saving alternatives for individuals facing organ failure or insufficiency. On the other hand, bionic implants involve the integration of electronic components and technology with the human body to enhance or restore physiological functions. Examples include cochlear implants for hearing-impaired individuals, retinal implants for those with visual impairments, and prosthetic limbs with advanced functionalities controlled by neural signals. The development of artificial organs and bionic implants has significantly improved the quality of life for many patients, offering solutions to medical conditions that were once deemed insurmountable. Ongoing research and technological advancements continue to push the boundaries of what is possible in the realm of medical bionics, promising even more innovative solutions for patients in the future.

Market Drivers

• Increasing number of kidney failures

The artificial kidney functions as a portable dialysis machine, offering a wearable solution for individuals with end-stage renal disease. This wearable artificial kidney can be utilized daily or even continuously. The growth of this segment is anticipated to be propelled by the increasing prevalence and incidence of renal failure on a global scale. The global rise in kidney failure has emerged as a significant health challenge. Over 90,000 individuals in the United States are currently awaiting kidney transplants, yet in the year 2022, only 26,309, approximately 1 in 4, were fortunate enough to receive a kidney. Living donor transplants in the U.S. amounted to 5,863 last year. The scarcity of available donor kidneys results in the majority of individuals facing kidney failure being treated with dialysis. Out of the 130,000 Americans diagnosed with kidney failure in 2020, nearly 97% initiated dialysis, while only 3,979 were able to undergo a preemptive kidney transplant. This surge in kidney-related health issues is expected to drive the demand for the adoption of artificial kidneys as a crucial solution for patient survival, thereby contributing to the growth of this particular segment.

North America is anticipated to hold a significant share of the market-

North America is expected to experience growth throughout the study period, with significant contributors to market expansion being the rising occurrence of severe accidents leading to amputations of limbs, fingers, hands, and other body parts in the region. A publication from December 2021 titled 'Living Well After Amputation: Lessons in Innovation, Peer Support, and Health Policy' indicates that aging, diabetes, and vascular disease are anticipated to be key factors contributing to an increase in amputations in the United States. The same source highlights that in 2021, 2.1 million individuals experienced limb loss, and annually, 185,000 people underwent limb amputations in the country. These factors are projected to drive the demand for artificial organs and bionics, consequently fostering market growth in the region.

Market Developments

• In April 2023, Picard Medical, Inc., the parent company of SynCardia Systems, LLC, disclosed its entry into a definitive business combination agreement with Altitude Acquisition Corp. ("Altitude"), a publicly traded special purpose acquisition company. This agreement will lead to Picard Medical transitioning into a publicly listed company.
• In August 2022, the Kidney Innovation Accelerator, in collaboration with the American Society of Nephrology and the United States Department of Health and Human Services, announced a new prize competition with a funding pool of USD 10.5 million.
• In October 2022, Abiomed, a subsidiary of Johnson & Johnson, disclosed that the U.S. FDA granted pre-market approval (PMA), the highest level of FDA approval, to Impella RP Flex with SmartAssist for the safe and effective treatment of acute right heart failure for a duration of up to 14 days. Implanted through the internal jugular (IJ) vein, Impella RP Flex allows patient mobility and incorporates dual-sensor technology to enhance patient management.

Market Segmentation

• By Products
  • Artificial Organs
  • Artificial Bionics
• By Method of Fixation
  • Implantable
  • Externally Worn
• By Technology
  • Mechanical Bionics
  • Electronic Bionics
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others