Vital Organs Support Systems and Medical Bionics Market Perceptions Targeting Industrial Expansion Studied during the Forecast Period, 2018-2025
December 4, 2019 by Mike Williams
The global vital organs support systems and medical bionics market size in 2017 is $28,169 million, and is projected to reach $59,412 million by 2025, growing at a CAGR of 10.9% from 2018 to 2025.
An artificial organ is an engineered device or tissue that is implanted or integrated into a human, interfacing with living tissue. Medical bionics, also known as biomedical implants, are artificial addition to the body. These artificial implants mimic the function of the lost or nonfunctional body part.
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The vital organs support systems and medical bionics market is expected to exhibit significant growth during the forecast period due to rise in geriatric population, scarcity of donor organs, technological advancements in the artificial organ sector, and increase in R&D expenditure. In addition, rise in number of patients suffering from chronic diseases drives the market growth. However, high cost of artificial organs and stringent approval process are projected to impede growth of the vital organs support systems and medical bionics market. On the contrary, application of advanced biomaterials in artificial organs and lucrative opportunities in emerging economies are expected to provide significant prospects for the manufacturers in the industry.
The global vital organs support systems and medical bionics market is segmented based on product, end user, and region. Depending on product, the market is categorized into vital organs support systems and medical bionics. The vital organs support systems segment is further divided into artificial heart, artificial kidney, artificial pancreas, artificial urinary bladder, artificial lungs, and artificial liver. The medical bionics segment is subsegmented into bionic eye, ear bionics, orthopedic bionics, cardiac bionics, and neural bionics. Depending on end user, the market is segregated into hospitals, ambulatory surgical centers, and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
This report provides a detailed quantitative analysis of the current market trends and future estimations from 2018 to 2025, which assists to identify the prevailing market opportunities.
An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the global vital organs support systems and medical bionics market is provided.
An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
KEY MARKET SEGMENTS
o Vital organs support systems
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