Market Data Forecast has announced the addition of the “Artificial Organs and Bionics Market: Global Industry Analysis and Opportunity Assessment 2016 – 2022" report to their offering.
Hyderabad, India -- (SBWIRE) -- 02/09/2018 -- The Global Artificial Organs and Bionics market has been estimated at USD 18.50 Billion in 2016 and is projected to reach USD 29.12 Billion by 2021, at a CAGR of 9.5% during the forecast period from 2016 to 2021.
Mechanical devices that can either temporarily or permanently substitute for a body organ are called Artificial Organs. Such medical implants or interfaces are fabricated using biomaterials. Body processing abilities which do not occur naturally can also be constructed as artificial organs.
Bionics or Medical Bionics is the study of biological systems and application of mechanics and electronics in such a way to replace a part of an existing organ of a body. Artificial organs or new organs can be created either in a lab with the help of stem cells or can be manufactured using a cyborg or machine.
Artificial organs cannot repair the damage that is physical such as neural network disorders. They are widely used in the prevention of death case scenarios. Researchers are working to make bionic implants permanent and obtaining natural feel by replicating the original organ using 3D printing techniques.
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The major factor driving the adoption of artificial organs & bionics are people who are in need of organ transplant, and its ability to help patients whose diseases are not treatable or curable. Also, advancements in bio-implants and organ transplant procedures are also driving the market towards growth.
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The key challenge restraining the market for Artificial Organs and Bionics is the high cost of implants and uncertain reimbursement scenarios and lack of availability of organ donors.
In Artificial Organs and Bionics market there are many manufacturers, some of them are Orthofix International N.V., Biomet Inc., Second Sight Medical Products Inc., Ossur, Baxter International Inc., Abiomed Inc., Boston Scientific Corporation, F Hoffman-La Roche Ltd, Gambro AB, LifeNet Health, Cochlear Ltd., Ekso Bionics, St. Jude Medical, Asahi Kasei Medical Co., Ltd, Berlin Heart GmbH, Worldheart Corporation, Thoratec Corporation, Jarvik Heart Inc..
North America is holding the largest market share currently for Artificial Organs and Bionics market due to the increasing awareness of patients about diseases and such implant procedures. North America is followed by Europe in terms of growth.
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In Asia – Pacific region, the market for Artificial Organs and Bionics Market is witnessing high growth rate due to the presence of a large number of high aged population and high disposable incomes in the society.
Scope of the report
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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