Bioartificial organ manufacturing
plays a vital role in developing artificial vital organs. Based on the
materials used, artificial organs can be divided into three main classes:
mechanical, biomechanical and biological.
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 approval and launch of
artificial organs is expected to propel growth of the global artificial vital
organs and medical bionics market. For instance, in March 2020, SynCardia
Systems, LLC received the U.S. Food and Drug Administration (FDA) approval for
its 50cc temporary Total Artificial Heart (TAH) System as a bridge to heart
transplant.
Global Artificial Vital Organs
and Medical Bionics Market: Opportunities
R&D in artificial vital
organs is expected to offer lucrative growth opportunities for players in the
global artificial vital organs and medical bionics market. For instance, in
June 2018, researchers from Lodz University of Technology, Poland, reported
development of artificial circulatory system that simulated various ejection
pressures, ejection volumes, and frequencies of pulsation.
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Global Artificial Vital Organs
and Medical Bionics Market: Restraints
High cost involved in development
of artificial organs and medical bionics is expected to limit growth of the
market.
Key Takeaways:
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.
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. Increasing waiting list for organ transplant is expected to propel
growth of the segment over the forecast period.
Market Trends
The market is witnessing
increasing adoption of total artificial heart (TAH). For instance, May 2018,
SynCardia Systems, LLC announced that Saint Thomas Health become the first
health system in Tennessee (U.S.) to offer the SynCardia temporary TAH as part
of its cardiac treatment services.
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Organizations are focused on
R&D on the role of extracorporeal membrane oxygenation in the management of
severely ill patients with COVID-19. For instance, in April 2020,
SpecialtyCare, a provider of perfusion, ECMO, intraoperative neuromonitoring,
and surgical services, collaborated with the American Society for Artificial
Organs to publish research on the role of extracorporeal membrane oxygenation in
the management of severely ill patients with COVID-19.
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
February 2020: Ekso Bionics
Holdings, Inc.announced that Post Acute Medical, LLC, a system of inpatient
rehabilitation hospitals, has acquired three additional EksoNR devices from the
company to expand the availability of exoskeleton-assisted rehabilitation to
seven of its facilities.
October 2019: BiVACOR, Inc.
collaborated with NASA’s Johnson Space Center to improve the robustness and
reliability of the company’s TAH system.
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