Recent report published by research nester titled “Global Artificial Organs and Bionic Implants Market”: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global artificial organs and bionic implants market in terms of market segmentation by product type, by artificial organs market, by medical bionic market, by location of implant and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global artificial organ and bionic implants market is segmented by product type into artificial organs and bionic implants; by artificial organs into artificial heart, artificial liver, artificial kidney, artificial lungs, artificial pancreas and insulin pumps; by medical bionics into ear, orthopedics and cardiac bionics; by location of implant into externally worn and implantable. The artificial organ and bionic implant market is anticipated to mark a CAGR of 9.8% during the forecast period i.e. 2018-2027.
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The market is estimated to observe a high growth due to the scarcity of the original biologically compatible organs. Further, the increasing rate of accidents and organ failures have increased the demand for artificial organs and the bionic implants. Moreover, the disabilities caused by accidents or other health problems are also enhancing the demand for these organs and implants, furthering the growth of the market.
U.S. is anticipated to grab a major market share in the global market of artificial organs and bionic implants during the forecast period which can be attributed to the high demand for artificial organs and bionic implants in that region. Increasing rate of the injuries and organ failures in the region of North America is estimated to drive the market growth. Additionally, increment in expenditure of the health sector and growing income levels is also contributing to the growth of the market.
Further, the markets of Europe and Asia-pacific are anticipated to grow at a significant rate during the forecast period owing to higher consumer base and increasing healthcare initiatives taken by the government followed by the high disposable income.
Growing Demand for Artificial Organs and Bionic Implants
The increase in the organ failures as per the reports of WHO is depicting high demand for artificial organs and bionic implants. The artificial organs are artificially made recombinant organs which are used as a substitute in place of the original organs and can actually mimic the original biological functioning of the natural organ in the body whereas, the bionic implants are a type of implantable device that have both electrical and mechanical components. These implants are based on robotic technology which are mainly used as prosthetics as a substitute for broken limbs, legs, hands etc.
However, the high cost associated with organ transplantation procedure and the escalating medical bionic implant prices are some the restraining factors that are estimated to limit the growth of the market.
This report also provides the existing competitive scenario of some of the key players of the global artificial organs and bionic implants market which includes company profiling of Edwards Lifesciences, LifeNet Health Ltd, Sonova, Orthofix Holdings Inc, BionX Medical Technologies, Medtronic, Ekso Bionics, Gambro AB, Cochlear Ltd.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global artificial organs and bionic implants market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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