A report on the Global Medical Bionic Implant/Artificial Organs Market has been published by Contrive Datum Insights. The report provides clients with the latest trending insights into the Medical Bionic Implant/Artificial Organs market. It can be seen that the report includes market value and growth rate, size, production consumption and gross margin, pricing and other influencing factors. Along with this, in the report, you will get detailed information about every distributor, supplier, and retailer in the market. The competitive scenarios of all industry players are mentioned in detail in the report. The pandemic has caused market participants to strategically change their business plans.
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The global artificial organs market has been segmented into visual bionics, ear bionics, orthopedic bionics, cardiac bionics, and neuro/brain bionics. Cardiac bionics holds the largest share in this market mainly due to the high number of cardiac patients across the globe. Rising healthcare spending and emergence of new healthcare facilities in emerging economies offer growth opportunities for the medical bionic implants market. The market for certain bionic devices such as exoskeletons, bionic orthotics, and bionic eyes is skewed towards certain regions due to stronger research in these regions than others. In this report, we also focus on bionic devices in development, including wearable artificial kidneys, bio-lungs, and artificial pancreas.
New and improved technologies, increase in organ failure due to aging and age-related diseases, increase in accidents and injuries leading to amputation, and increase in the number of people waiting for organ transplantation are the major drivers driving the growth of this market. However, several key factors restraining the growth of this market are high cost of equipment, uncertain reimbursement situation in different regions, limited surgical expertise, and high development cost. Opportunities offered by this market for new entrants include increasing income levels and increasing awareness in emerging economies.
The report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as Flowserve, Velan, Parker, Pentair, Lance Valves, SPX FLOW, DHV Industries, Mallard Control (CIRCOR Energy), Bonney Forge Corporation, Cameron TOM WHEATLEY, Conval, ALLIED GROUP, Newdell Company, Bray International, AsahiAmerica, Crane, Brook Valves, COOPE. Geographically, this market has been segmented into regions such as North America, Latin America, Europe, Asia Pacific and Rest of the World. The study details country-level aspects based on each segment and gives estimates in terms of market size.
North America dominated the market in 2021 with a share of 45.4% and is expected to continue its dominance throughout the forecast period. The reason for this growth is the increase in transplant surgeries and the need for artificial organs due to the high incidence of organ failure. Furthermore, the presence of well-developed healthcare facilities and local presence of many large biotechnology and medical devices companies, such as Zimmer Biomet, Arthrex, Inc., Medtronic, Novartis AG, and Stryker, contribute to its dominance.
In the Asia Pacific, the market is expected to grow at the fastest rate during the forecast period, owing to emerging economies like Japan, China, and India. These countries have a large population base with a high incidence of chronic diseases. An increase in the number of chronic diseases that lead to organ failure is expected to boost artificial organ and bionics device growth.
Medical Bionic Implant/Artificial Organs Market Segmentation:
By Type:
- Bionic Implants
- Artificial Organs
- Other
By Applications:
- Hospitals
- Clinics
- Research and Academic Institutes
- Other
Frequently Asked Questions (FAQ):
- What is the growth rate predicted for the Global Medical Bionic Implant/Artificial Organs Market?
- Who are the top performing companies in Medical Bionic Implant/Artificial Organs Market?
- Which region dominated the worldwide market for Medical Bionic Implant/Artificial Organs in 2022?
Related Sources:
- https://www.digitaljournal.com/pr/global-green-chelates-natural-chelating-agents-market-is-expected-to-grow-at-a-cagr-of-5-0-during-forecast-period
- https://www.openpr.com/news/2858580/complex-oxide-nanomaterials-market-size-status-and-forecast
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