The Global Artificial Organs & Bionic Implants market is poised to reach $63.7 billion by the end of 2020 growing at a CAGR of 11.38%. The major trend driving the artificial organs & Bionic Implants market is the scarcity of organ donors for organ transplantations.
The market for vital artificial organs and medical bionics is undergoing astonishing growth. An artificial organ is a man-made device that is fixed or assimilated into a human to substitute a natural organ, for the purpose of reinstating an explicit role or a group of related roles so the patient may return to a regular life as soon as possible.
Currently the market is dominated by the likes of North America primarily due to higher per capita income and increased awareness among the population. Following North America is Europe and Asia Pacific regions. Asia Pacific market is filled with potential and is penetrated only to a certain extent. There is great scope for new entrants in the emerging markets of Asia.
The Global Artificial Organs & Bionic Implants market can be segmented on the basis of Type (Artificial Heart, Kidney, Liver, Pancreas, Lungs, Cochlear bionics, Vision bionics, Orthopedic bionics, cardiac bionics, brain bionics, and Exoskeletons), Technology (Electrical, Mechanical) and Geography (North America, Europe, APAC, and Rest of the World).
Rapidly aging population, increased populations suffering from organ failures, rising incidents of motor accidents and injuries, rapid technological advancements in the bionics sector and huge scarcity of donor organs in the market are the major drivers instrumental in the markets rapid growth.
Stringent regulatory framework for the use of artificial organs and bionics, fear of device of malfunction or failure and huge criticism from a sector of healthcare professionals have been the major challenges for the artificial organs and bionics market.
What the report offers
Market Definition for the specified topic along with identification of key drivers and restraints for the market.
Market analysis for the Global Artificial Organs & Bionic Implants Market, with region specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
Identification and analysis of the Macro and Micro factors that affect the Global Artificial Organs & Bionic Implants market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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