The Global Artificial Organs & Bionic Implants market is projected to grow at a CAGR of 11.38% to reach $70.7 billion by the end of 2021. Artificial organs and implants are unique devices that are assimilated in the body to perform/imitate the original function of the organ when the original organ is damaged or injured.’Bionics’ is a combination of biology and electronics. So, when bionics is to be used for body parts then medical bionics term is used that include robotic technology also. These bionic systems can be mechanical or electronic and can be fitted temporarily or permanently.
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The Artificial Organs & Bionic Implants market is growingdue to a number of factors such as huge demand for organ transplantation, lack of organ donors, technological advancements in the medical technologies,advancements made in theartificial organ and medical bionic implant procedures, increasing investments made for R&D activities by the government. Increasing aging population, rising road accidents with simultaneous increase in income level are further contributing to the market growth.
However, there are certain restraints to this market growth which includeexpensive devices, high costs of organ transplantation, fear of failure or malfunction and limited surgical experience.
The global artificial organs and bionic market is segmented based on type of products, technology used and type of fixation. Based on the product type, the market is segmented into Artificial organs (heart, liver, kidney, lungs and pancreas) and Bionics. The bionic market is further sub-segmented into vision bionics (bionic eye),orthopedic bionics (bionic finger, bionic limb, bionic leg and exoskeleton), ear bionics (Bone Anchored Hearing Aid),cardiac bionics (heart valves, pacemaker) and brain bionics (spinal cord stimulators, deep brain stimulators and vagus nerve stimulators). Based on technology, the market is segmented into mechanical and electronic bionics. Based on the type of fixation, the market is segmented into externally worn and implantable.
North America holds the major market share in the global market, due to increased awareness and higher per capita income, followed by Asia-Pacific and Europe.Asia-Pacific is a potential market due to rising government initiatives and large consumer base. So, there is huge scope for new entrants in these emerging markets as penetration is low in these areas.
Some of the major players in the market are Berlin Heart GmbH, Edwards LifeSciences Corporation, Boston Scientific Corporation, Otto Bock Healthcare,Esko Bionics, Worldheart Corporation , F Hoffman-La Roche Ltd., Thoratec Corporation , Gambro AB, Jarvik Heart Inc., Lifenet Health.
The report contains comprehensive analysis on:
Artificial Organs & Bionic Implants Market Segments
Artificial Organs & Bionic Implants Market Drivers, Restraints and Opportunities
Artificial Organs & Bionic Implants Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Artificial Organs & Bionic Implants Market Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis Artificial Organs & Bionic Implants Market includes
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R&D Status and Technology Overview
Extensive Industry Structure Coverage
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