The increasing incidence of disabilities and organ failures, technological advancements, and the high incidence of road accidents resulting in amputations are the major factors driving the growth of the artificial organs and bionics market.
The scarcity of donor organs is another major factor. The scarcity of potential organs for transplant has been a major issue. The demand for organ donors is constantly increasing, and it is far outstripping the available supply. According to a 2019 report by the University of Pennsylvania, there are more than 120,000 people in the United States awaiting transplantation. This has provided a significant boost to the artificial organ bionics market, as patients cannot afford to wait in line because the stakes are so high. Bionics and artificial organs can meet the needs of people who require organ transplants and replacements. They have the ability to mimic the function of damaged organs.
However, factors such as the fear of device malfunction, the risk of artificial organ compatibility and its consequences, and others may have an impact on market growth. These implants are also costly, which has hampered market growth.
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Artificial Organ And Bionics Market Segmentation
The research report published by Market Research Strategy contains industry segments, as below-
Artificial Organ and Bionics Type Outlook (Revenue, USD Million, 2016 – 2027)
- Artificial Organs
- Artificial Heart
- Artificial Kidney
- Artificial Lungs
- Cochlear Implants
- Other Organ Types
- Vision Bionics
- Ear Bionics
- Orthopedic Bionics
- Cardiac Bionics
Artificial Organ and Bionics Technology Outlook (Revenue, USD Million, 2016 – 2027)
- Electronic Bionics
- Mechanical Bionics
Artificial Organ and Bionics Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
List of Key Players- Artificial Organ and Bionics Market
- ABIOMED, INC
- Berlin Heart GmbH
- Biomet, Inc
- Zimmer Biomet
- Boston Scientific Corporation
- Cochlear, LTD
- Edward Lifesciences Corporations
- Ekso Bionics
- Heartware International, Inc
- Iwalk, Inc.
- Jarvik Heart, Inc
- SynCardia Systems, Inc
- Medtronic, Inc
- Orthofix International N.V
- St. Jude Medical, Inc.
- Second Sight Medical Products, Inc.
- Baxter International, Inc.
- Asahi Kasei Medical Co., Ltd
- F Hoffman – La Roche Ltd
Key Questions Addressed by the Report:
- What are the key factors expected to drive and restrain Artificial Organ and Bionics market growth over the forecast period?
- What are the key products and applications offered by the Artificial Organ and Bionics markets?
- What are the current and future market trends in the Artificial Organ and Bionics market?
- Which segment is expected to show lucrative growth throughout the forecast period?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
- What are the key challenges and limitations the new entrants and companies will have to face in the Artificial Organ and Bionics markets over the forecast period?
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