Artificial Vital Organs and Medical Bionics Market will reach a market value of US$32.3 billion by 2018 -Transparency Market Research

The Global artificial vital organs and medical bionics market will grow at a CAGR of 9.2% between 2012 and 2018. TMR, a market intelligence company based in the United States, in its recently released report states that the global artificial vital organs and medical bionics market, which in 2011 was valued at US$17.5 billion, will reach a market value of US$32.3 billion by 2018. The report titled ‘Artificial Vital Organs and Medical Bionics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018’ is available for sale on the website. 

 

According to this market research report, the global artificial vital organs and medical bionics market is driven by greater advancements in the healthcare technology field and the rising popularity of organ transplantation, which can be attributed to high incidence of organ failure cases. Artificial organs refer to those devices that are implanted or integrated into the human body as replacements for the natural organs normalizing bodily functions. The medical field today mostly uses artificial organs as a bridge to transplant. However, they are also used for destination therapy. Age-related and occupational disabilities are also prominent factors driving the demand for viable patient rehabilitation alternatives. Medical bionics refers to the science that combines the principles of mechanics, electronics, and biology to develop components that replace the functioning of organs and limbs. 

 

The TMR report segments the global artificial vital organs and medical bionics market on the basis of product type and geography. Based on product type, the artificial vital organs and medical bionics market is categorized into the bionics market and the artificial vital organs market. The following products dominate the bionics market: cardiac bionics, brain bionics, vision bionics, ear bionics, bionic limbs, and exoskeletons. The artificial vital organs market is classified into artificial lungs, artificial heart, artificial pancreas, artificial kidneys, and artificial liver. The highest share in the artificial vital organs market is held by the artificial kidneys segment which is driven by greater use of Hemodialysis machines owing to rising incidence of renal failure. The medical bionics market is also fuelled by increased frequencies of injuries, accidents, and disabilities which eventually lead to amputations. 

 

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Geographically, this research study segments the global artificial vital organs and medical bionics market into Europe, Asia Pacific, North America, and Rest of the World. This market is led by North America both, in terms of revenue and volume. The second largest market in the artificial vital organs and medical bionics industry after North America is Europe. Both these regional markets are propelled by factors such as a growing geriatric population and high incidences of organ failures and disabilities. High costs of developing medical bionics and artificial organs and the rising criticism with regard to artificial organ transplant are the two main challenges facing the global artificial vital organs and medical bionics market.

 

Browse the full Artificial Vital Organs and Medical Bionics Market (Artificial Heart, Kidney, Liver, Pancreas & Lungs, Ear Bionics, Vision Bionics, Exoskeletons, Bionic Limbs, Brain Bionics and Cardiac Bionics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018 report at http://www.transparencymarketresearch.com/artificial-vital-organs-medical-bionics.html

 

Worldheart Corporation, Vital Therapies, Inc., Touch Bionics, Inc., Syncardia Systems, Inc., Ottobock Healthcare Gmbh, Micromed Cardiovascular, Inc., Jarvik Heart, Inc., , and Fresenius Medical Care AG & Co. Kgaa are the key artificial vital organs and medical bionics companies included in this research report. 

 

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