North America Artificial Organ and Bionics Market Outlook, 2029
The North America Artificial Organ and Bionics Market projected to reach a value of USD 38.5 billion by 2033, driven by rise in healthcare spending.
- Bonafide Trust
- 31-12-2023
- Pages : 121
- Figures : 60
- Tables : 29
- Region : North America
- Category : Lifescience
- Biotechnology
According to publisher, A Market Taking Heart: North American Artificial Organs and Bionics
The North American artificial organs and bionics market is a leading force in global innovation, offering hope for patients with organ failure or limb loss. This report explores the market's value, growth drivers, dynamics, segmentation, key trends, and the competitive landscape within the region.
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Download SampleMarket Size and Growth: North America dominates the global market, projected to reach a value of USD 38.5 billion by 2033, boasting a significant CAGR of over 8.1%. This growth is fueled by several factors:
High Healthcare Spending:
North America has some of the highest healthcare expenditures globally, allowing for greater investment in advanced medical technologies like artificial organs and bionics.
Example: The US government spends heavily on programs like Medicare, which can help cover the costs of certain artificial organ transplants.
Strong Research Infrastructure:
North America houses leading research institutions and universities that actively contribute to advancements in artificial organ and bionics technology.
Example: Research centers like the Mayo Clinic are at the forefront of developing new biomaterials and conducting clinical trials for artificial organs.
Supportive Regulatory Framework:
A well-established regulatory framework, like the FDA approval process, ensures the safety and efficacy of artificial organs and bionics implanted in patients.
Example: The FDA's stringent guidelines provide patients with confidence in the quality and effectiveness of these technologies.
Market Dynamics
The North American market is a dynamic environment influenced by several key trends:
Focus on Advanced Technologies:
* There's a growing focus on developing more advanced artificial organs and bionics, like bionic limbs with improved functionality and mind-controlled prosthetics.
* Example: Companies are researching advanced prosthetic arms that allow amputees to regain a wider range of motion and perform more complex tasks.
Aging Population:
* Similar to global trends, North America's aging population is driving the demand for artificial organs to replace failing organs due to age-related conditions.
* Example: As the population ages in the US, the demand for artificial knee and hip replacements is expected to rise significantly.
Increasing Insurance Coverage:
* Growing insurance coverage for certain artificial organs and bionics procedures is improving patient access to these life-changing technologies.
* Example: Some insurance companies in the US are expanding coverage for certain bionic limbs and artificial heart valves.
Market Segments
The North American market can be segmented by various criteria:
Product Type:
The market offers a wide range of products, including artificial hearts, kidneys, limbs, cochlear implants, and advanced prosthetics.
Application:
* Artificial organs and bionics cater to various medical conditions, including organ failure, limb loss, vision and hearing impairments, and neurological disorders.
Regional Analysis
Within North America, there are variations in market penetration and research focus across the region:
United States:
* The United States is the undisputed leader in the North American market due to its large population, strong research infrastructure, and established healthcare system.
* Example: The US houses a significant number of leading medical device companies and research institutions developing cutting-edge artificial organs and bionics.
Canada:
* Canada has a smaller market but is still a significant player, with a growing focus on adopting new technologies and improving public healthcare access.
* Example: The Canadian government invests in research and development initiatives for artificial organs and bionics, aiming to improve patient outcomes.
Key Developments
The North American market is experiencing continuous innovation:
3D Printing Advancements:
* 3D printing technology is revolutionizing the creation of customized prosthetics and potentially even biocompatible artificial organs with complex structures.
* Example: Companies are developing 3D-printed prosthetic limbs that can be tailored to a patient's specific anatomy and needs.
Telemedicine Integration:
* Telemedicine is playing a growing role in post-operative care for patients with artificial organs and bionics, allowing for remote monitoring and patient education.
* Example: A patient with a bionic limb might use telemedicine to connect with a specialist for adjustments or troubleshooting.
Competitive Landscape
The North American market boasts a competitive landscape with established medical device companies, research institutions, and innovative startups:
Medical Device Giants:
* Established players like Medtronic, Abbott Laboratories, and Boston Scientific dominate the market with their R&D capabilities and broad product portfolios.
* Example: Medtronic offers a variety of implantable cardiac devices, including pacemakers and artificial heart valves.
Emerging Startups:
* Alongside established players, innovative startups are emerging to challenge the status quo. They often focus on niche areas or disruptive technologies.
* Example: A startup might develop a novel type of artificial pancreas that uses a closed-loop system to automatically regulate blood sugar levels in diabetic patients.
Academic Institutions and Research Centers:
* Universities and research institutions play a crucial role in North America's artificial organs and bionics market. They contribute to ground-breaking research and often collaborate with medical device companies.
* Example: A university bioengineering department might partner with a medical device company to develop a new type of artificial lung for patients with chronic respiratory conditions.
Conclusion
The North American artificial organs and bionics market is a frontrunner in innovation, shaping the future of these life-changing technologies. With a strong focus on advanced research, supportive regulations, and increasing insurance coverage, the market is well-positioned for continued growth. As technologies like 3D printing and telemedicine integrate further, North America's artificial organs and bionics market has the potential to improve the lives of millions and set the standards for global advancements in this field.
Table of Contents
- 1 Introduction 8
- 1.1 Industry Definition and Research Scope 8
- 1.1.1 Industry Definition 8
- 1.1.2 Research Scope 9
- 1.2 Research Methodology 12
- 1.2.1 Overview of Market Research Methodology 12
- 1.2.2 Market Assumption 13
- 1.2.3 Secondary Data 13
- 1.2.4 Primary Data 13
- 1.2.5 Data Filtration and Model Design 14
- 1.2.6 Market Size/Share Estimation 15
- 1.2.7 Research Limitations 16
- 1.3 Executive Summary 17
- 2 Market Overview and Dynamics 20
- 2.1 Market Size and Forecast 20
- 2.1.1 Impact of COVID-19 on World Economy 21
- 2.1.2 Impact of COVID-19 on the Market 24
- 2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery 26
- 2.2 Major Growth Drivers 30
- 2.3 Market Restraints and Challenges 34
- 2.4 Emerging Opportunities and Market Trends 37
- 2.5 Porter’s Fiver Forces Analysis 41
- 3 Segmentation of North America Market by Product Type 45
- 3.1 Market Overview by Product Type 45
- 3.2 Artificial Organ 47
- 3.2.1 Kidney 49
- 3.2.2 Heart 50
- 3.2.3 Liver 51
- 3.2.4 Lungs 52
- 3.2.5 Pancreas 53
- 3.2.6 Other Organs 54
- 3.3 Artificial Bionics 55
- 3.3.1 Ear Bionics 57
- 3.3.2 Exoskeleton 58
- 3.3.3 Bionic Limbs 59
- 3.3.4 Vision Bionics 60
- 3.3.5 Brain Bionics 61
- 3.3.6 Cardiac Bionics 62
- 3.3.7 Other Bionics 63
- 4 Segmentation of North America Market by Material 64
- 4.1 Market Overview by Material 64
- 4.2 Metals 66
- 4.3 Polymers 67
- 4.4 Ceramics 68
- 4.5 Other Materials 69
- 5 Segmentation of North America Market by Technology 70
- 5.1 Market Overview by Technology 70
- 5.2 Mechanical 72
- 5.3 Electronic 73
- 6 Segmentation of North America Market by Fixation Type 74
- 6.1 Market Overview by Fixation Type 74
- 6.2 Implantable 76
- 6.3 Wearable 77
- 7 Segmentation of North America Market by Age Group 78
- 7.1 Market Overview by Age Group 78
- 7.2 17 Years Old and Under 80
- 7.3 18-34 Years Old 81
- 7.4 35-49 Years Old 82
- 7.5 50-64 Years Old 83
- 7.6 65 Years Old and Above 84
- 8 Segmentation of North America Market by End User 85
- 8.1 Market Overview by End User 85
- 8.2 Hospitals 87
- 8.3 Ambulatory Surgical Centers (ASCs) 88
- 8.4 Other End Users 89
- 9 North America Market 2022-2032 by Country 90
- 9.1 Overview of North America Market 90
- 9.2 U.S. 93
- 9.3 Canada 97
- 9.4 Mexico 99
- 10 Competitive Landscape 101
- 10.1 Overview of Key Vendors 101
- 10.2 New Product Launch, Partnership, Investment, and M&A 104
- 10.3 Company Profiles 105
- Abbott Laboratories Inc. 105
- Abiomed, Inc. 107
- Berlin Heart GmbH 108
- Biomet Inc. 109
- Boston Scientific Corporation 110
- Cochlear Ltd. 111
- Edward Lifesciences Corporation 112
- Ekso Bionics Holdings, Inc. 113
- Iwalk Inc. 114
- Jarvik Heart, Inc. 115
- Medtronic Plc 116
- Össur hf. 117
- ReWalk Robotics Ltd. 118
- SynCardia Systems LLC 119
- Zimmer Biomet Holdings Inc. 120
- RELATED REPORTS 121
Table 1. Snapshot of North America Artificial Organ and Bionics Market in Balanced Perspective, 2022-2032 18
Table 2. World Economic Outlook, 2021-2031 22
Table 3. World Economic Outlook, 2021-2023 23
Table 4. Scenarios for Economic Impact of Ukraine Crisis 27
Table 5. Main Product Trends and Market Opportunities in North America Artificial Organ and Bionics Market 37
Table 6. North America Artificial Organ and Bionics Market by Product Type, 2022-2032, $ mn 45
Table 7. North America Artificial Organ and Bionics Market: Artificial Organ by Type, 2022-2032, $ mn 48
Table 8. North America Artificial Organ and Bionics Market: Artificial Bionics by Type, 2022-2032, $ mn 56
Table 9. North America Artificial Organ and Bionics Market by Material, 2022-2032, $ mn 64
Table 10. North America Artificial Organ and Bionics Market by Technology, 2022-2032, $ mn 70
Table 11. North America Artificial Organ and Bionics Market by Fixation Type, 2022-2032, $ mn 74
Table 12. North America Artificial Organ and Bionics Market by Age Group, 2022-2032, $ mn 78
Table 13. North America Artificial Organ and Bionics Market by End User, 2022-2032, $ mn 85
Table 14. North America Artificial Organ and Bionics Market by Country, 2022-2032, $ mn 91
Table 15. U.S. Artificial Organ and Bionics Market by Product Type, 2022-2032, $ mn 95
Table 16. U.S. Artificial Organ and Bionics Market by Technology, 2022-2032, $ mn 95
Table 17. U.S. Artificial Organ and Bionics Market by End User, 2022-2032, $ mn 95
Table 18. Patients on the Waiting List by Organ in U.S., 2022 96
Table 19. Transplants Performed by Organ in U.S., January 2023 96
Table 20. Organ Waiting List by Age in U.S., January 2023 96
Table 21. Canada Artificial Organ and Bionics Market by Product Type, 2022-2032, $ mn 98
Table 22. Canada Artificial Organ and Bionics Market by Technology, 2022-2032, $ mn 98
Table 23. Canada Artificial Organ and Bionics Market by End User, 2022-2032, $ mn 98
Table 24. Mexico Artificial Organ and Bionics Market by Product Type, 2022-2032, $ mn 100
Table 25. Mexico Artificial Organ and Bionics Market by Technology, 2022-2032, $ mn 100
Table 26. Mexico Artificial Organ and Bionics Market by End User, 2022-2032, $ mn 100
Table 27. Abbott Laboratories Inc.: Company Snapshot 105
Table 28. Abbott Laboratories Inc.: Business Segmentation 106
Table 29. Abbott Laboratories Inc.: Product Portfolio 106
Figure 1. Research Method Flow Chart 12
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 15
Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032 17
Figure 4. North America Artificial Organ and Bionics Market, 2022-2032, $ mn 20
Figure 5. Impact of COVID-19 on Business 24
Figure 6. Primary Drivers and Impact Factors of North America Artificial Organ and Bionics Market 30
Figure 7. Overview of Worldwide Organ Donation and Transplant, 2021 33
Figure 8. Estimated Number of Worldwide Organ Transplants by Organ Type in 2021 33
Figure 9. Primary Restraints and Impact Factors of North America Artificial Organ and Bionics Market 34
Figure 10. Investment Opportunity Analysis 38
Figure 11. Porter’s Fiver Forces Analysis of North America Artificial Organ and Bionics Market 41
Figure 12. Breakdown of North America Artificial Organ and Bionics Market by Product Type, 2022-2032, % of Revenue 46
Figure 13. North America Addressable Market Cap in 2023-2032 by Product Type, Value ($ mn) and Share (%) 46
Figure 14. North America Artificial Organ and Bionics Market by Product Type: Artificial Organ, 2022-2032, $ mn 47
Figure 15. North America Artificial Organ and Bionics Market by Artificial Organ: Kidney, 2022-2032, $ mn 49
Figure 16. North America Artificial Organ and Bionics Market by Artificial Organ: Heart, 2022-2032, $ mn 50
Figure 17. North America Artificial Organ and Bionics Market by Artificial Organ: Liver, 2022-2032, $ mn 51
Figure 18. North America Artificial Organ and Bionics Market by Artificial Organ: Lungs, 2022-2032, $ mn 52
Figure 19. North America Artificial Organ and Bionics Market by Artificial Organ: Pancreas, 2022-2032, $ mn 53
Figure 20. North America Artificial Organ and Bionics Market by Artificial Organ: Other Organs, 2022-2032, $ mn 54
Figure 21. North America Artificial Organ and Bionics Market by Product Type: Artificial Bionics, 2022-2032, $ mn 55
Figure 22. North America Artificial Organ and Bionics Market by Artificial Bionics: Ear Bionics, 2022-2032, $ mn 57
Figure 23. North America Artificial Organ and Bionics Market by Artificial Bionics: Exoskeleton, 2022-2032, $ mn 58
Figure 24. North America Artificial Organ and Bionics Market by Artificial Bionics: Bionic Limbs, 2022-2032, $ mn 59
Figure 25. North America Artificial Organ and Bionics Market by Artificial Bionics: Vision Bionics, 2022-2032, $ mn 60
Figure 26. North America Artificial Organ and Bionics Market by Artificial Bionics: Brain Bionics, 2022-2032, $ mn 61
Figure 27. North America Artificial Organ and Bionics Market by Artificial Bionics: Cardiac Bionics, 2022-2032, $ mn 62
Figure 28. North America Artificial Organ and Bionics Market by Artificial Bionics: Other Bionics, 2022-2032, $ mn 63
Figure 29. Breakdown of North America Artificial Organ and Bionics Market by Material, 2022-2032, % of Sales Revenue 65
Figure 30. North America Addressable Market Cap in 2023-2032 by Material, Value ($ mn) and Share (%) 65
Figure 31. North America Artificial Organ and Bionics Market by Material: Metals, 2022-2032, $ mn 66
Figure 32. North America Artificial Organ and Bionics Market by Material: Polymers, 2022-2032, $ mn 67
Figure 33. North America Artificial Organ and Bionics Market by Material: Ceramics, 2022-2032, $ mn 68
Figure 34. North America Artificial Organ and Bionics Market by Material: Other Materials, 2022-2032, $ mn 69
Figure 35. Breakdown of North America Artificial Organ and Bionics Market by Technology, 2022-2032, % of Sales Revenue 71
Figure 36. North America Addressable Market Cap in 2023-2032 by Technology, Value ($ mn) and Share (%) 71
Figure 37. North America Artificial Organ and Bionics Market by Technology: Mechanical, 2022-2032, $ mn 72
Figure 38. North America Artificial Organ and Bionics Market by Technology: Electronic, 2022-2032, $ mn 73
Figure 39. Breakdown of North America Artificial Organ and Bionics Market by Fixation Type, 2022-2032, % of Revenue 75
Figure 40. North America Addressable Market Cap in 2023-2032 by Fixation Type, Value ($ mn) and Share (%) 75
Figure 41. North America Artificial Organ and Bionics Market by Fixation Type: Implantable, 2022-2032, $ mn 76
Figure 42. North America Artificial Organ and Bionics Market by Fixation Type: Wearable, 2022-2032, $ mn 77
Figure 43. Breakdown of North America Artificial Organ and Bionics Market by Age Group, 2022-2032, % of Revenue 79
Figure 44. North America Addressable Market Cap in 2023-2032 by Age Group, Value ($ mn) and Share (%) 79
Figure 45. North America Artificial Organ and Bionics Market by Age Group: 17 Years Old and Under, 2022-2032, $ mn 80
Figure 46. North America Artificial Organ and Bionics Market by Age Group: 18-34 Years Old, 2022-2032, $ mn 81
Figure 47. North America Artificial Organ and Bionics Market by Age Group: 35-49 Years Old, 2022-2032, $ mn 82
Figure 48. North America Artificial Organ and Bionics Market by Age Group: 50-64 Years Old, 2022-2032, $ mn 83
Figure 49. North America Artificial Organ and Bionics Market by Age Group: 65 Years Old and Above, 2022-2032, $ mn 84
Figure 50. Breakdown of North America Artificial Organ and Bionics Market by End User, 2022-2032, % of Revenue 85
Figure 51. North America Addressable Market Cap in 2023-2032 by End User, Value ($ mn) and Share (%) 86
Figure 52. North America Artificial Organ and Bionics Market by End User: Hospitals, 2022-2032, $ mn 87
Figure 53. North America Artificial Organ and Bionics Market by End User: Ambulatory Surgical Centers (ASCs), 2022-2032, $ mn 88
Figure 54. North America Artificial Organ and Bionics Market by End User: Other End Users, 2022-2032, $ mn 89
Figure 55. Breakdown of North America Artificial Organ and Bionics Market by Country, 2022 and 2032, % of Revenue 91
Figure 56. Contribution to North America 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 92
Figure 57. U.S. Artificial Organ and Bionics Market, 2022-2032, $ mn 94
Figure 58. Canada Artificial Organ and Bionics Market, 2022-2032, $ mn 97
Figure 59. Artificial Organ and Bionics Market in Mexico, 2022-2032, $ mn 99
Figure 60. Growth Stage of North America Artificial Organ and Bionics Industry over the Forecast Period 101
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