The global market for artificial organ and bionics is expected to reach
USD 38.75 billion by 2020 at an estimated CAGR of 9.3% from 2014 to 2020,
according to a new study by Grand View Research, Inc. Increasing prevalence of
acute renal failure and renal disorders due to lifestyle habits such as
excessive alcohol consumption and growing geriatric population base causing a
rise in organ failure rates is expected to serve this market as a high impact
rendering driver. In addition, growing incidence rates of accidents is expected
to boost the demand for organ transplants, thus increasing demand for
artificial organ.
Artificial kidney dominated the global market in 2013, with
revenue estimated at over USD 12.21 billion; demand is expected grow due to the
increasing chronic kidney patients. Artificial liver is the fastest growing
market segment, at an estimated CAGR of 11.0% from 2014 to 2020.
In depth research report
on Artificial Organ And Bionics Market
Further key findings from
the study suggest:
· Brain bionics in the medical bionics
market held the largest share of revenue for the year 2013 and the market is
expected to grow at an estimated CAGR of 40.0%.The presence of high unmet
medical needs in neurology disease segment coupled with expensive treatment
procedures is expected to drive the market for brain bionics. Exoskeleton is
the fastest growing segment and is expected to grow at a CAGR of 16.0% from
2014 to 2020.
· North America was the largest
regional market in 2013, accounting for over 42.0% of global revenue due to the
increasing population and awareness among the patients and the players.
· Asia Pacific is the fastest growing
market and is expected to grow at a CAGR of 11.0% from 2014 to 2020 on account
of rising demand due to the improvement in healthcare facilities, medical
tourism and others.Increasing income levels and healthcare expenditure is
expected to interest of the players’ in the emerging markets.
· Key industry participants include
Abiomed Inc., Asahi Kasei Kuraray Medical Co. Ltd., Thoratec Corporation,
WorldHeart Corp., Gambro AB and others.
For the purpose of this study, Grand View Research has segmented the
global artificial organ and bionics market on the basis of product, technology
and region:
Artificial Organ Product
Outlook
·
Artificial organs
o
Total artificial heart
o
Artificial liver
o
Artificial pancreas
o
Artificial lungs
o
Artificial kidney
·
Bionics
o
Cochlear implants
o
Exoskeletons
o
Cardiac bionics
§ Heart valves
§ Biological tissue valves
§ Mechanical valves
§ Transcatheter heart valves
o
Ventricular assist device
·
Bionic limbs
o
Bionic legs
o
Bionic hands
·
Brain bionics
o
Deep brain stimulators
o
Spinal cord stimulators
o
Vagus nerves stimulators
·
Vision bionics
Artificial Organ
Technology Outlook
· Mechanical bionics
· Electronic bionics
Artificial Organ Regional
Outlook
· North America
· Europe
· Asia Pacific
· RoW
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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