Global Artificial Vital Organs and Medical Bionics Market Segmentation in 2018
With major developments in the field of healthcare technology, organ transplantation has become a realistic surgical approach to cater to the needs of patients suffering from acute organ failure. As the number of patients waiting for organ transplant is increasing along with the lack of availability of donor organs, the demand for artificial organs has increased in the market. With years of technological advancement, artificial organs have been efficiently established as a potential alternative for organ transplantation. At present, artificial organs are being successfully used as a bridge-to-transplant and some of them are also used as destination therapy. In addition, as the number of cases of occupational and age-related disabilities is increasing, the demand for viable patient rehabilitation options is also on the rise.
Medical bionics deals with the incorporation of electronics and mechanics in biology so as to replace the functioning of limbs or other organs. With intensive R&D and evolution of technology in devices such as bionic hand, vision bionics, total artificial heart, ventricular assist devices and others, artificial vital organs and medical bionics will prove to be a viable substitute for the impending donor organ scarcity and the increase in demand for efficient patient rehabilitation for the disabled.
Due to an increase in the number of product approvals for artificial vital organs and medical bionics, the market for these devices will witness an increase in the rate of artificial organ transplantation and patient rehabilitation. The new and advanced artificial organs and bionic devices such as total artificial heart, artificial liver support devices, bionic limbs, ear and vision bionics, with their increased biocompatibility, safety and shelf life, will assist in prolonging the life of patients and improving their life. Furthermore, introduction of new products in the market aiding different diseased human organs and other bodily functions will play a pivotal role in the future growth of this market.
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The artificial vital organs and medical bionics market report studies the current scenario as well as the future market potential for artificial vital organs and medical bionics products globally. The major segments of the artificial vital organs and medical bionics market are categorized and analyzed on the basis of different product classes. The artificial vital organ products are segmented as artificial heart, artificial kidney, artificial liver, artificial pancreas and artificial lungs. The medical bionic products are further segmented as ear bionics, vision bionics, exoskeletons, bionic limbs, brain bionics, cardiac bionics and heart valves. The artificial vital organs and medical bionics market size and forecasts in terms of revenue (USD million) for each of these segments have been provided for the period 2012 to 2018, considering 2011 as the base year. The artificial vital organs and medical bionics report also provides the compounded annual growth rate (CAGR) for each segment of the market for the forecast period 2012 to 2018.
Geographically, the artificial vital organs and medical bionics market has been divided into four major regions which include North America, Europe, Asia and RoW (Rest of the World). The market size and forecasts in terms of revenue (USD million) for each of these segments have been provided for the period 2012 to 2018, considering 2011 as the base year. The artificial vital organs and medical bionics market report also provides the compounded annual growth rate (CAGR) for each segment of the market for the forecast period 2012 to 2018. The market overview section of the artificial vital organs and medical bionics market report offers qualitative analysis of the overall market considering the factors determining market dynamics such as drivers, restraints and opportunities. To understand the current and future market scenario of the artificial vital organs and medical bionics market Porter’s five force analysis and market attractiveness analysis covers various aspects related to the market environment.
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