As per the published report, the global artificial organ and bionics market size is estimated to arrive at USD 53.9 billion by 2027. It is projected to develop by 9.6% CAGR in the period of forecast.
Rising rate of organ failure has caused huge escalation in the artificial organ and bionics procedure. Increasing demand for giver to transfer pancreas, lungs, kidney, liver, and heart is the most important reason, encouraging the enlargement of the global market for artificial organs and bionics.
Rising quantity of the product presentation, in addition to, quick endorsement by FDA for these devices, is over passing the scarcity of organ donors. Intensifying R&D projects, in the subject of man-made human body parts is, moreover, advancing the progress of the market.
For example, the U.S. FDA accepted Carmat’s initial viability review of its artificial heart, in February 2020. This apparatus is an option for the heart transplant for the persons, affected by the last phase biventricular heart stoppage.
Therefore, by way of rising healthcare expenses along with the prompt FDA endorsement of artificial human body portions, the artificial organ and bionics market is anticipated to witness, strong development all through the forecast period.
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Further key findings from the report suggest:
• In North America, the presence of significant number of medical devices companies as well as the biotechnology companies plus the research laboratories is the most important thing, adding to its greater share.
• Due to the rising aged populace, the cochlear implant section is projected to record the maximum development percentage, during the forecast period
• As a result of progression in the products, the bionics section is, moreover, estimated to observe the maximum CAGR
• In 2019, North America was the most important provincial sector. Due to the existence of sophisticated healthcare amenities, it is estimated to retain its place, throughout the forecast period
• The kidney division held the major around 57.0% share of the market in 2019
• Attributable to increasing figure of transplant actions, artificial organs sector was the main revenue making, between others
Million Insights segmented the global artificial organ and bionics market based on Technology, Product, and Region.
Artificial Organ And Bionics Product Outlook (Revenue, USD Million, 2016 - 2027)
• Artificial Organs
• Artificial Bionics
• Cochlear implant
• Bionic limbs
• Vision bionics
• Brain bionics
Artificial Organ And Bionics Technology Outlook (Revenue, USD Million, 2016 - 2027)
• Mechanical bionics
• Electronic bionics
Artificial Organ And Bionics Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• Asia Pacific
• South Korea
• Latin America
• South Africa
• Saudi Arabia
Various companies for artificial organs and bionics market are:
• SynCardia Systems, LLC.
• Iwalk, Inc.
• Ekso Bionics
• Boston Scientific Corporation
• Berlin Heart GmbH
• Zimmer Biomet
• Jarvik Heart, Inc
• Heart ware International, Inc
• Edward Life sciences Corporation
• Biomet, Inc
• ABIOMED, INC