According to a report,” Artificial Organ And Bionics Market Analysis By Product (Artificial Heart, Liver, Kidney, Pancreas, Bionic, Limbs, Heart Valves, Cardiac, Vision), By Technology (Mechanical, Electronic) And Segment Forecasts To 2020” published by Grand View Research, Inc., The global artificial organ and bionics market 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.
Key Takeaways from the report:
-
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.
Browse More Reports in Healthcare IT Industry:
Healthcare Cognitive Computing Market : Key growth drivers include information explosion of structured and unstructured data, technological advancements in the field of data mining and analytics, growing use of cloud services, and demand for personalized healthcare services.
Healthcare Payer BPO Market :Key drivers attributing to the growth of the market include increasing global geriatric population, regulatory changes, rising healthcare costs, and the need to improve payer’s operational efficiency and customer satisfaction.
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
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
-
Total artificial heart
-
Artificial liver
-
Artificial pancreas
-
Artificial lungs
-
Artificial kidney
-
-
Bionics
-
Cochlear implants
-
Exoskeletons
-
Cardiac bionics
-
Heart valves
-
Biological tissue valves
-
Mechanical valves
-
Transcatheter heart valves
-
-
Ventricular assist device
-
-
Bionic limbs
-
Bionic legs
-
Bionic hands
-
-
Brain bionics
-
Deep brain stimulators
-
Spinal cord stimulators
-
Vagus nerves stimulators
-
-
Vision bionics
Artificial Organ Technology Outlook
-
Mechanical bionics
-
Electronic bionics
Artificial Organ Regional Outlook
-
North America
-
Europe
-
Asia Pacific
-
RoW
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information:www.grandviewresearch.com
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: www.grandviewresearch.com/industry-analysis/artificial-organ-and-bionics