Pune, India -- (SBWIRE) -- 08/16/2018 -- Transparency Market Research has published a research report that discusses the various trends and dynamics shaping the future of the global artificial organs and medical bionics market. This research report, titled "Artificial Vital Organs and Medical Bionics Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018," details the global robotic systems market to provide a 360-degree view of the components in the market.
According to the research report, the global artificial organs and medical bionics market was valued at US$17.5 bn in 2011 and is anticipated to reach US$32.3 bn by the end of 2018, registering a CAGR of 9.20% from 2012 to 2018. The report suggests that the global artificial vital organs and medical bionics market is being fueled by technological advancements in healthcare technology and rising adoption of organ transplantation. Furthermore, this market is also being driven by the high incidence of age-related and occupational disabilities that necessitate artificial vital organs and medical bionics for rectification of the problem.
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Artificial organs are man-made medical devices that are implanted or integrated into a human body to efficiently replace the non-functioning organs and restore the bodily functions to normalcy. On the other hand, medical bionics is the collaboration between engineering and science to deliver and design medical solutions to several patients. Some of the popular examples of medical bionics are bionic hearing, brain stimulation, and vision devices. The artificial vital organs and medical bionics market focuses on design solutions to improve the life of the patients and increase their life expectancy. Over the years, the global artificial vital organs and medical bionics market has experienced good growth due to the lack of donor organs and the growing waiting list of patients who need organ transplantation.
The global artificial organs and medical bionics market is segmented on the basis of product and geography. The products in this market are categorized into artificial vital organs and bionics. The artificial vital organs segment is inclusive of artificial pancreas, kidneys, liver, lungs, and heart, whereas bionics are inclusive of ear bionics, cardiac bionics, brain bionics, exoskeletons, and vision bionics. Geographically, this market is segmented into Europe, North America, Asia Pacific, and Rest of the World.
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Geographically, in 2012, North America held the largest share in the global artificial vital organs and medical bionics market in terms of volume. Europe followed this segment quite closely in 2012. However, the analysts predict that the Asia Pacific artificial organs and medical bionics market will grow the fastest by the end of 2018 due to the growing healthcare expenditure, enhanced healthcare facilities, and improving infrastructure.
Some of the top players in the global artificial organs and medical bionics market are Abbott Diabetes Care, Fresenius Medical Care, AbioMed, Baxter International, Otto Bock Healthcare, Thoratec Corporation, WorldHeart Corporation, and SynCardia Systems, Inc. The research report offers an in-depth explanation of the competitive landscape of the market and estimates the impact of the investment infrastructure. Furthermore, the research report also states the financial overview, research and development activities, business and marketing strategies, investment outlook, and strategic mergers and acquisitions of the top players in this market.
About Transparency Market Research
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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