Artificial vital organs and medical bionics are technologically sophisticated devices which help in the restoration of various organ functions which helps to increase the life expectancy of the patients.
According to the market research report “Artificial Vital Organs & Medical Bionics Market: By Product (Artificial Organs, Medical Bionics) & By Region (Europe, Asia-Pacific, North America, RoW)-Forecast (2016-2022)”, published by IndustryARC, estimates that Asia-Pacific will register the fastest growth during the forecast period.
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Artificial Vital Organs & Medical Bionics Market deals with the development of medical technology, which includes organ transplantation. Artificial vital organs can be defined as vital organs that are made to implant in a human body to replace a natural organ and medical bionics refers to the study of artificial body organs which are substituted for a natural biological capability.
Scope & Regional Forecast of the Artificial Vital Organs & Medical Bionics Market
The demand for artificial human organs is very high because number of organ failure cases are being increased. Hence, the lack of donors are expected to be the primary growth driver for the Artificial Vital Organs & Medical Bionics Market.
In addition, advanced medical technologies and increasing need of transplantation of organs due to accident cases are driving significant growth for the market.
However, lack of surgical skills, higher costs for devices and surgeries and uncertain reimbursement policies in some regions are the key factors which restrains the Artificial Vital Organs & Medical Bionics Market. Still, growing demand for artificial organs creates new growth opportunities for the market.
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North America is dominating the Artificial Vital Organs & Medical Bionics Market, due to better health-care infrastructure with technological advanced practice and presence of key industry players in this region. Europe occupied the next position followed by Asia-Pacific.
Also, Asia-Pacific is projected to have the fastest growth due to rapidly developing medical infrastructure and developing medical tourism in emerging nations like China and India.
Segmentations & Key Players Involved in the Artificial Vital Organs & Medical Bionics Market
The Artificial Vital Organs & Medical Bionics Market can be broken down into various segmentations on the basis of -
- Artificial Vital Organs Market By Product: Artificial Heart, Artificial Kidney, Artificial Liver, Artificial Pancreas and Artificial Lungs.
- Bionics Market By Product: Ear Bionics (Cochlear Implants), Vision Bionics,Exoskeletons, Bionic Limbs, Brain Bionics, Cardiac Bionics and Heart Valves.
- Region: Europe, Asia-Pacific, North America and Rest of the World.
Some of the key players involved in the Artificial Vital Organs & Medical Bionics Market are as follows:
- Abbott Diabetes Care, Inc.
- Asahi Kasei Medical Co., Ltd.
- Edwards Lifesciences Corporation
- Fresenius Medical Care AG & Co. Kgaa
- Gambro AB
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* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a six year period of 2016 - 2022, to assess how the market will develop.
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