Industry Background:
Artificial Organs are made by a human. Artificial Organs are implemented in human bodies with living tissue, it can able to perform the original function of human body parts. Bionics refers to replacement or improvement of body parts by mechanical kinds. Artificial organs composed of the plastic that is planted with stem cells from the relocate receiver, hence the body’s immune system does not discard the artificial organ. Adoption of Technological advancement and rising number of accidents will help to boost global artificial organ and Bionics market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Abiomed (United States), Asahi Kasei Kuraray Medical (Japan), Thoratec (United States), WorldHeart Fedration (Geneva), Gambro AB (United States), Berlin Heart GmbH (Germany), Boston Scientific Corporation (United States), Cochlear Limited (Australia), Edward Lifesciences (United States) and Orthofix International N.V. (The Netherlands) |
According to AMA, the market for Artificial Organ & Bionics is expected to register a CAGR of 8.7% during the forecast period to 2028. This growth is primarily driven by Upsurging Demand of Potential Organs, Rising Number of Healthcare Expenditure and Increasing Number of Accidents.
Globally, a noticeable market trend is evident Adoption of Technological Advancement
The Health Care Technology sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Abiomed (United States), Asahi Kasei Kuraray Medical (Japan), Thoratec (United States), WorldHeart Fedration (Geneva), Gambro AB (United States), Berlin Heart GmbH (Germany), Boston Scientific Corporation (United States), Cochlear Limited (Australia), Edward Lifesciences (United States) and Orthofix International N.V. (The Netherlands), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 1st August 2018, CARMAT the designer and developer of the world's most advanced total artificial heart project has announced successful transplant of a donor's heart in the first international patient implanted with the CARMAT heart in October 2017.
On 11th January 2018, Boston Scientific Corporation has announced that the U.S. Food and Drug Administration (FDA) has approved the Spectra WaveWriter™ Spinal Cord Stimulator (SCS) System.
Influencing Trend:
Adoption of Technological Advancement and Government Initiation towards Research and Development Activities
Market Growth Drivers:
Upsurging Demand of Potential Organs, Rising Number of Healthcare Expenditure and Increasing Number of Accidents
Challenges:
Government Policies Related to Organ Transplant
Restraints:
High Cost of Organ Transplantation and Lack of Hospitals for Artificial Organ Transplant Facility
Opportunities:
Increasing Awareness about Artificial Organ & Bionics will Create Opportunity
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Artificial Organ & Bionics Market
- Analysis about New Entrants in Artificial Organ & Bionics Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Artificial Organ & Bionics Study Sheds Light on
The Artificial Organ & Bionics Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Artificial Organ & Bionics industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Artificial Organ & Bionics industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.