The global artificial organs and bionics market for the period 2016-2021 is expected to account for USD XX billion, growing at a CAGR of XX% from USD XX billion in 2016. Artificial organs and bionics are man-made devices that can be implanted or integrated into humans to either replace a natural organ or 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.
Artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. Bionics provide support and can be both implantable and externally worn to restore certain bodily functions.
Global Artificial Organs and Bionics Market-Market Dynamics
The report details several factors that drive and restrain the market. In addition, the study also discusses the opportunities and challenges that the market players face. Some of these are listed below.
The global artificial and bionic market is driven by various factors like:
Increasing rate of organ failures due to age-related disorders
Lack of organ donors
High incidence of road accidents and injuries leading to amputations
Some of the factors that are restraining the market in spite of ample scope for growth are:
Cost of the procedure
Fear of device malfunction and its consequence
Limited skilled personnel to carry out the procedures
Opportunities and Challenges
The increase in income and rise in awareness in developing countries and the scope of artificial organs in therapeutics are some of the important opportunities for market players. However, they face the challenge of dealing with the side effects like skin irritation and also the high chance of a transplant rejection.
The global artificial and bionic market is segmented based on product, technology, and type of fixation. Base on the product, the market is segmented into artificial organs (heart, kidney, liver, pancreas, and lungs) and bionics. The bionic market is further sub-segmented into vision bionics (bionic eye), ear bionics (cochlear implant, Bone Anchored Hearing Aid), orthopedic bionics (bionic limb, bionic finger, bionic leg, electrical bone growth stimulators and exoskeleton), cardiac bionics (heart valves, ventricular assisted device, pacemaker) and brain bionics (deep brain stimulators, spinal cord stimulators and vagus nerve stimulators). Based on technology, the market is segmented into electronic and mechanical bionics. Based on the type of fixation, the market is segmented into implantable and externally worn.
Based on geographical location, the artificial organ and bionic market can be divided into North America (USA, Canada and Mexico), Europe (France, UK, Germany, Spain, Portugal, Scandinavia and Italy), Asia-Pacific (India, China, Japan, South Korea, Australia, and New Zealand), Middle East and Africa (GCC, Egypt) and Latin America (Brazil and Argentina).
Some of the key players in the market are:
Berlin Heart GmbH
Boston Scientific Corporation
F Hoffman-La Roche Ltd.
Jarvik Heart Inc.
Key Deliverables in the Study
Market analysis for the artificial organ and bionic market, with region-specific assessments and competition analysis on the global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market.
Identification and analysis of the macro and micro factors that affect the artificial organ and bionic 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.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
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