Medical Bionic Implant and Artificial Organs Market Forecast and Growth 2016-2026
Artificial organ and implants are special type of made devices/ prosthetics which are implanted in human body, so that it can imitates the function original organ. The crucial requirement of such organ is to function as normal organ. Bionics is combination Biology and Electronics. Medical Bionics are substitute or improvement of other body parts with robotic versions. Medical bionic implants are diverse from artificial organ, they impersonate original function very thoroughly or even do better than it.
Organ transplantation becomes mandate when an organ in body of person is damaged due to injury or disease. But, number of organ donors is very less than the demand. Although after the organ is transplanted there are chances of rejection of transplanted organ. This signifies that immune system of the recipient is not able to accept the organ. Artificial organs and bionics are made of biomaterial. Biomaterial is a living or non-living substance which is introduced in body as portion of artificial organ or bionics to substitute an organ or functions associated with it. Heart and kidney are most developed artificial organs while pace makers and cochlear implants most developed medical bionics.
Medical Bionic Implant and artificial Organs Market: Drivers and Restraints
Currently, medical bionic implant and artificial organs globalmarket is driven by the fact that large number of patients are in need for organ transplantation although not everyone can get organ as the number of donors are less. Growing advancements in medical technologiesare fueling the global medical bionic implant and artificial organsmarket. Growing public awareness about various diseases, advancements in medical bionic implant and artificial organs procedures and the need for screenings conducted for early diagnosis and treatment of various diseases are also expected to favor the global medical bionic implant and artificial organs market. Expiring of the patents of 3D printing will also play important development of 3D printing of artificial organs. However high cost associated with organ transplant procedure and price of medical bionics act as a restraint for global medicalbionic implant and artificial organsmarket.
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Medical Bionic Implant and artificial Organs Market: Segmentation
Global medical bionic implant and artificial organsmarketis segmented on the basis of product type as given below:
Based on product type, global medical bionic implant and artificial organs market is segmented into:
- Heart Bionics
- Ventricular Assist Device
- Total Artificial Heart
- Artificial Heart Valves
- Implantable Cardiac Pacemaker
- External Pacemaker
- Orthopedic Bionics
- Bionic Hand
- Bionic Limb
- Bionic Leg
- Ear Bionics
- Bone Anchored Hearing Aid
- Cochlear Implant
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Based on implant location, global medical bionic implant and artificial organs market is segmented into:
- Externally Worn
Medical Bionic Implant and artificial Organs Market: Overview
With quick technological advancement, rapid technological advancements in medical field, ever increasing demand of medical bionics implants and artificial organs, the global medical bionic implant and artificial organsmarket is anticipated to have vigorous development during the forecast period.
Medical Bionic Implant and artificial Organs Market: Region- wise Outlook
Depending on geographic regions, Global medical bionic implant and artificial organsmarketis segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan, Japan and Middle East & Africa.North America is the leading market for medical bionic implant and artificial organsdue to rapid technological innovations and huge investment in research and development and increased healthcare expenditures on artificial prosthesis. Whereas, Asia-pacific andEurope is expected to grow at a significant growth due to large consumer base, rising government initiatives for enhancing healthcare, and high disposable incomewill contribute to the global medical bionic implant and artificial organsmarket value exhibiting robust CAGR during the forecast period.
Medical Bionic Implant and artificial Organs Market: Key Players
Some of the key market players in global medical bionic implant and artificial organsmarketareTouch Bionics Inc., Lifenet Health Inc.,Cochlear Ltd., Sonova, Otto Bock Inc., Edwards Lifesciences Corporation, Medtronic, Inc. HeartWare, Orthofix Holdings, Inc., BionX Medical Technologies, Inc. and others.