US Medical Bionic Implants & Artificial Organs Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 9.86 Billion |
| Market Size (2029) | USD 13.84 Billion |
| CAGR (2024 - 2029) | 7.01 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Medical Bionic Implants & Artificial Organs Market Analysis
The USA Artificial Organs & Bionic Implants Market size is estimated at USD 9.86 billion in 2024, and is expected to reach USD 13.84 billion by 2029, growing at a CAGR of 7.01% during the forecast period (2024-2029).
The growth of the market in the country can be attributed to the increasing incidence of disabilities and organ failures and technological advancements leading to enhanced applications.
The demand for organ donors is ever increasing and is very high when compared to the actual supply. It has been estimated that, of all the patients who need organ transplantation, only 10% are able to undergo the process. This has been a major boost for artificial organs and the bionics market, as the patients cannot afford to wait in the queue since the stakes are very high. Bionics and artificial organs can cater to those in need of organ transplantations and replacements, as they can replicate the function of damaged organs.
Furthermore, the technological advancements and the increasing healthcare expenditure in the country is boosting the market growth. However, the high cost of the organs and the procedures is a major constraint. The high cost of these organs is due to the production policies to address the patients, taxpayers, and medical technology corporations. Additionally, fear of device malfunction and its consequences, and limited specialists to carry out the procedure, are also restraining the growth of the artificial organs and bionic implants market.
US Medical Bionic Implants & Artificial Organs Market Trends
This section covers the major market trends shaping the USA Artificial Organs & Bionic Implants Market according to our research experts:
Cardiac Bionics Segment is Expected to Have a Highest Growth Rate in the Forecast Period
Cardiac bionics consist of heart valves, ventricular assisted devices, pacemakers, others. The high growth rate of the segment is attributed to the increasing prevalence of cardiovascular diseases associated with the increasing geriatric population in the United States.
According to Centres for Disease Control and Prevention, 2020, heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. It has been found that one person dies every 37 seconds in the United States from cardiovascular disease. There are about 647,000 Americans die from heart disease each year that is 1 in every 4 deaths. Heart disease is also found costing the United States about USD 219 billion each year. Therefore with the large patient pool in the country, the cardiac bionic segment maintains its dominant position throughout the forecast period.
US Medical Bionic Implants & Artificial Organs Industry Overview
The USA Artificial Organs & Bionic Implants Market is moderately competitive with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments. Some of the major players in the market are ABIOMED, Boston Scientific Corporation, Berlin Heart GmbH, Edward Lifesciences Corporation, Otto Bock Holding GmbH & Co. KG, LifeNet Health and Medtronic plc.
US Medical Bionic Implants & Artificial Organs Market Leaders
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Boston Scientific Corporation
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Berlin Heart GmbH
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Edward Lifesciences Corporation
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Abiomed Inc.
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Otto Bock Holding GmbH & Co. KG
*Disclaimer: Major Players sorted in no particular order
US Medical Bionic Implants & Artificial Organs Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increased Incidence of Disabilities and Organ Failures
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4.2.2 Technological Advancements Leading to Enhanced Applications
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4.3 Market Restraints
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4.3.1 Expensive Procedures
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4.3.2 Fear of Device Malfunction and its Consequences
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product
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5.1.1 Artificial Organs
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5.1.1.1 Artificial Heart
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5.1.1.2 Artificial Kidney
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5.1.1.3 Cochlear Implants
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5.1.1.4 Others
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5.1.2 Bionics
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5.1.2.1 Vision Bionics
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5.1.2.2 Ear Bionics
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5.1.2.3 Orthopedic Bionic
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5.1.2.4 Cardiac Bionics
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5.1.2.5 Others
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Abiomed Inc.
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6.1.2 Boston Scientific Corporation
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6.1.3 Berlin Heart GmbH
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6.1.4 Edward Lifesciences Corporation
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6.1.5 Otto Bock Holding GmbH & Co. KG
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6.1.6 LifeNet Health, Inc.
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6.1.7 Medtronic plc
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6.1.8 Ossur
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6.1.9 Jarvik Heart, Inc.
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6.1.10 Orthofix International NV
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
US Medical Bionic Implants & Artificial Organs Industry Segmentation
As per the scope of the report, artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. The Artificial Organs are made by a human and are implemented in human bodies with living tissue, it can able to perform the original function of human body parts. Bionics refers to the replacement or improvement of body parts by mechanical kinds.
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US Medical Bionic Implants & Artificial Organs Market Research FAQs
How big is the USA Artificial Organs & Bionic Implants Market?
The USA Artificial Organs & Bionic Implants Market size is expected to reach USD 9.86 billion in 2024 and grow at a CAGR of 7.01% to reach USD 13.84 billion by 2029.
What is the current USA Artificial Organs & Bionic Implants Market size?
In 2024, the USA Artificial Organs & Bionic Implants Market size is expected to reach USD 9.86 billion.
Who are the key players in USA Artificial Organs & Bionic Implants Market?
Boston Scientific Corporation, Berlin Heart GmbH, Edward Lifesciences Corporation, Abiomed Inc. and Otto Bock Holding GmbH & Co. KG are the major companies operating in the USA Artificial Organs & Bionic Implants Market.
What years does this USA Artificial Organs & Bionic Implants Market cover, and what was the market size in 2023?
In 2023, the USA Artificial Organs & Bionic Implants Market size was estimated at USD 9.21 billion. The report covers the USA Artificial Organs & Bionic Implants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the USA Artificial Organs & Bionic Implants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Medical Bionic Implants & Artificial Organs Industry Report
Statistics for the 2024 US Medical Bionic Implants & Artificial Organs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Medical Bionic Implants & Artificial Organs analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
US Medical Bionic Implants & Artificial Organs Market Report Snapshots
