According to the report “Global Artificial Organs and Bionics Market,” published by Market Data Forecast, the global market is projected to reach USD 29.12 Billion by 2021, at a CAGR of 9.5% from 2016 to 2021.
Artificial organs are mechanical devices are man-made devices that can temporarily or permanently substitute for a body organ and implanted or integrated into humans. In this Artificial organs provide support for the purpose of restoring a specific function or a group of related functions so that the patient may return to normal life as soon as possible. Bionics provide support and can be both implantable and externally worn to restore certain bodily functions.
Bionics involves the study of biological systems in order to develop artificial systems that can replicate their functions. Manufactures are focusing on the development of bionic implant products such as wearable artificial kidney, bio-lung, and artificial pancreas for diseases that cannot be cured with alternative treatment methods.
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Global Artificial Organs and Bionics Market: Drivers & Restraints
The market for Artificial Organs and Bionics is mainly driven due to large number of patients who are in need for organ transplantation, growing public awareness about various diseases, and advancements in medical bionic implant and artificial organs procedures. But, the market growth is constrained due to lack of availability of donor organs and bio-artificial organs, and high cost of devices and uncertain reimbursement scenarios.
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Global Artificial Organs and Bionics Market: Segmentation
By Product Type
- Artificial Organs
- Artificial Heart
- Artificial Kidney
- Artificial liver
- Artificial pancreas
- Artificial lungs
- Vision bionics
- Ear bionics
- Orthopedic bionic
- Cardiac Bionics
- Brain bionics
- Y-o-Y Growth Analysis, By Product
- Market Attractiveness Analysis, By Product
- Market Share Analysis, By Product
- Electronic bionics
- Mechanical bionics
- Y-o-Y Growth Analysis, By Technology
- Market Attractiveness Analysis, By Technology
- Market Share Analysis, By Technology
Type of fixation:
- Externally worn
- Y-o-Y Growth Analysis, By Type of fixation
- Market Attractiveness Analysis, By Type of fixation
- Market Share Analysis, By Type of fixation
From simple data collation through secondary and primary research to ad-hoc research requests relating to specific information, we provide our services via customization. Get customization at http://www.marketdataforecast.com/market-reports/global-artificial-organs-and-bionics-market-1661/customize-report
Global Artificial Organs and Bionics Market: Overview
Cardiac bionics and Brain bionics accounts for the largest share in Artificial Organs and Bionics market. The artificial organ bank market is estimated to witness significant growth within the forecast period on account of increasing accident incidences which increase the demand for artificial organs and thus accelerated the growth of artificial organs bank market. In addition, increasing geriatric population and rising life expectancy coupled with increasing adoption of artificial organs are also expected to boost this market in coming five years. Furthermore, the rise in the waiting list of patients requiring organ transplantation and scarcity of donor organs is also an important driving factor for the growth of this market. Moreover, technological innovations to develop more affordable artificial organs/bionics are also expected to supplement the market growth for artificial organ bank. Despite, the high cost of artificial organs is expected to hamper the growth of this market.
The artificial organs dominated the product type segment of the global artificial organ bank market in 2016. In this category, heart and kidney are the most developed and widely used artificial organs owing to the increasing number of dialysis, renal failure due to faulty lifestyle. In bionics market, brain bionics accounted for the largest revenue share and is estimated to grow at a CAGR of 11.8% within the forecast period. High unmet medical needs in neurology disease segment coupled with high-cost treatment procedures are expected to drive the market for brain bionics in coming five years. On the basis of technology, artificial organ bank market is categorized into; mechanical bionics and electronic bionics.
Global Artificial Organs and Bionics Market: Region-wise Outlook
Geographically, Global market for Artificial Organs and Bionics is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. North America is the biggest market in terms of market share across the globe, followed by Europe. The market in North America is highly driven due to increasing population and awareness among the patients and the players regarding healthcare facilities and medical tourism. The Artificial Organs and Bionics market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to increasing aging population and large consumer base, rising government initiatives for enhancing healthcare, and high disposable income.
Key Questions Answered
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- What was the market size from 2016 to 2021?
- What is the current and future Artificial Organs and Bionics Market outlook worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Artificial Organs and Bionics space globally?
- What are the key, high growth markets that Artificial Organs and Bionics manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Artificial Organs and Bionics currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Artificial Organs and Bionics?
- What are the challenges and barriers that have hindered widespread adoption of Artificial Organs and Bionics?
- What are the key sustainability strategies adopted by market players?
Global Artificial Organs and Bionics Market: Key Players
Orthofix International N.V., Biomet, Inc., Medtronic, Inc., Cochlear Ltd., Second Sight Medical Products, Inc., Ossur, Ekso Bionics, St. Jude Medical, Inc., Baxter International, Inc., Abiomed Inc., Asahi Kasei Medical Co., Ltd, Berlin Heart GmbH, Boston Scientific Corporation, F Hoffman-La Roche Ltd, Worldheart Corporation, Thoratec Corporation, Gambro AB, Lifenet Health, Jarvik Heart Inc. are the major players of Global Artificial Organs and Bionics market.
Reasons to buy Global Artificial Organs and Bionics Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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