Artificial Vital Organs and Medical Bionics Market Opportunity Analysis - 2027

SEATTLE - May 26, 2021 - PRLog -- 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.

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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.

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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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.

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