The Asia-Pacific Artificial Organs and Bionics market has been estimated at USD 4.07 Billion in 2016 and is projected to reach USD 6.67 Billion by 2021, at a CAGR of 10.40% during the forecast period from 2016 to 2021. Artificial organs are man-made devices which are integrated into human body to replace the natural organs which are either partially or completely not performing its functions at all. Bionic implants are mechanical or electronic systems that function like living organisms or parts of living organisms.
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The market for Artificial Organs and Bionics is mainly driven due to increasing prevalence of acute renal failure and renal disorders due to lifestyle habits such as excessive alcohol consumption and growing geriatric population base causing a rise in organ failure rates. But, the market growth can be hampered due to continuous technological advances in artificial organ product designs which have made it difficult to redeem clear cost effectiveness, and high implantation cost of artificial organs.
Asia-Pacific market for Artificial Organs and Bionics is segmented based on Product, Technology and Type of fixation. By Products, the market is further sub-segmented into Artificial Organs and Bionics. Artificial Organs segment is further sub-segmented into Artificial Heart, Artificial Kidney, Artificial liver, Artificial pancreas, and Artificial lungs. Bionics segment is further sub-segmented into Vision bionics, Orthopedic bionic, Cardiac Bionics, and Brain bionics. By Technology, the market is further sub-segmented into Electronic bionics and Mechanical bionics. By Type of fixation, the market is further sub-segmented into Implantable and Externally-worn. Cardiac bionics and Brain bionics accounts for the largest share in this market.
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Geographically, Asia-Pacific market for Artificial Organs and Bionics is segmented into China, India, Japan, South Korea and Australia. 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.
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 Asia-Pacific Artificial Organs and Bionics market.
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