According to the report ” Artificial Organs and Bionics by Product (Artificial Organs, Bionics), by Technology (Electronic bionics, Mechanical bionics), by Type of fixation (Implantable, Externally worn), and by Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021) “, published by Market Data Forecast, the global market is projected to reach USD 29.12 billion by 2021, at a CAGR of 9.5% from 2016 to 2021.
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Artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. Bionics provides support and can be both implantable and externally worn to restore certain bodily functions.
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The market is mainly driven due to increasing organ failure owing to aging and age-related disorders, increasing accidents and injuries leading to amputations, and rise in number of people awaiting organ transplants. But, the market growth is restrained due to high cost of organ transplant procedure and price of medical bionics.
Global market for Artificial Organs and Bionics is segmented based on Products, Technology and Type of fixation into further sub-segments as follows:
By Type of fixation
Geographically, the market for Artificial Organs and Bionics is segmented as below:
Middle-East and Africa
Orthofix International N.V., Biomet, Inc., Medtronic, Inc., Cochlear Ltd., Second Sight Medical Products, Inc., Ossur, Ekso Bionics, St. Jude Medical, Inc., Baxter International, Inc., Abiomed Inc., Asahi Kasei Medical Co., Ltd, Berlin Heart GmbH, Boston Scientific Corporation, F Hoffman-La Roche Ltd, Worldheart Corporation, Thoratec Corporation, Gambro AB, Lifenet Health, Jarvik Heart Inc. are the major players of Global Artificial Organs and Bionics market.
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