, September 26, 2018 ) Market Overview:
Artificial Organs and Bionics market values at USD 22.18 Billion in 2018 and it is expected to reach USD 34.92 Billions with a CAGR of 9.5% by the end of 2023. An artificial organ may be a device that is man-made and is integrated or implanted into the human so as to revive target function via the replacement of a natural organ. The material used to develop body interfaces or implants area unit called biomaterials. There’s no necessity to bind artificial organ with stationary sources and stationary power supply for instance chemical processing units and filters.
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Factors affecting market growth:
• Huge demand among patients for organ transplantation (+)
• Technological advancements in medical equipments (+)
• Increasing investments for R&D (+)
• Growing public awareness about various diseases (+)
• Lack of availability of organ donors (-)
• Bio artificial organs (-)
• High cost of devices and uncertain reimbursement (-)
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Global Artificial Organs and Bionics market is segmented on the basis of
• Artificial organs
• Electronic Bionics
• Mechanical Bionics
Type of Fixation
• Externally Worn
Based on product segmentation artificial organs is going to drive the market growth and is expected to rise with a good CAGR and coming to technology segmentation Mechanical bionics accounted for the major share in technology segmentation.
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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, World heart 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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