London, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Estimated to reach the valuation of US$54 Bn toward the end of 2027 from US$30.3 Bn attained in 2021, global artificial organs and medical bionics market size is all set for robust expansion between 2022 and 2027. The latest published report of Fairfield Market Research foresees around 10.4% growth for the market during the period of projection and attributes it majorly to the massive demand-supply gap in the human organ transplantation space. In addition, complexities in obtaining consents, lengthy waiting lists in terms of the availability of organ donors, and contradictions to organ donation further influence the progress of artificial organs and medical bionics market. Severe dearth of viable organs for transplant will remain the key factor impacting market growth, says the report. Increasing global burden of chronic as well as lifestyle conditions is also a constant booster to market expansion.
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Cost Constraints Continue to Challenge Rapid Progress
Escalating usage of advanced automation tech tools such as stem cell implementation, and 3D printing have been raising the potential of artificial organs and medical bionics as a lifesaving technology. Extensive R&D afoot in this realm is expected to offer patients with organ failure a hope of prompt treatment in future. However, the market performance also remains influenced by the complexities associated with organ replacement. In addition to the ethical concerns, the market will continue to be impacted by the biocompatibility guidelines, regulatory framework, and the potential risks of device malfunction. While the costs are exorbitant, the reimbursement coverage is poor, which remains a significant impediment facing artificial organs and medical bionics market. Moreover, limited functionality, safety, and efficacy in most of the cases also challenges market growth to a large extent.
Kidney Remains a Leading Segment in Artificial Organs and Medical Bionics Market
An escalating number of kidney transplant procedures worldwide has been playing an instrumental role in the build-up of artificial organs and medical bionics market. The trend will prevail throughout the forecast period, says the report. With an estimated higher growth rate through 2027, kidney will most likely maintain its positioning as a dominant segment in the market. The implantable technology is likely to retain its lead in the market as well. In terms of revenue, the implantable technology segment is expected to account for the revenue generation of US$34 Bn by the end of forecast year.
Mounting Research Around Biocompatible Materials Open New Opportunities
While metals continue to be the dominant choice of biocompatible material for artificial organs and medical bionics, the segment is projected to account for nearly US$17 Bn in revenue by 2027 end. Advent of biomedical engineering has been giving a substantial push to the making of miniature artificial organs that can be permanently implanted in human bodies. As biocompatibility has been touted as a critical requisite here, a lot of research has been afoot around the most innovative and viable biocompatible materials. This is expected to unlock doors to new opportunities in artificial organs and medical bionics market.
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Asia Pacific Represents a High-potential Artificial Organs and Medical Bionics Market
The report affirms that a major chunk of global artificial organs and medical bionics market is captured by North America, and Europe, whereas Asia Pacific is emerging highly lucrative owing to the increasing cases of vision and hearing loss, cardiovascular diseases, as well as kidney failure. Artificial organs and medical bionics market will most likely spread its roots fastest across the developing regions, especially Asia Pacific. This is clearly attributable to consistently increasing healthcare expenditure, soaring surgical procedures, and improved income levels. Both the awareness and availability of artificial organs, and medical bionics are growing, which is likely to fuel market growth. The report forecasts 10.9% growth for Asia Pacific and highlights China, and India as the lucrative yet untapped markets.
Key Market Players
Ossur hf, Medtronic plc, Cochlear Ltd, Zimmer Biomet Ltd, Second Sight Medical Products Ltd., Orthofix International N.V., DJO Global, Ekso Holdings Inc, and ReWalk Robotics.
REPORT SCOPE & SEGMENTATION:
| REPORT FEATURES | DETAILS |
| Organ Type |
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| Biomaterial |
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| Technology |
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| Geographical Coverage |
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| Leading Companies |
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| Report Highlights | Key Market Indicators, Market Estimates and Forecast Value, Market Dynamics, Regulatory Guidelines, COVID-19 Impact Analysis, Regional and Country Insights, Competitive Landscape, Company Profiles |
Table of Contents:
1. Executive Summary
1.1. Global Artificial Organs and Medical Bionics Market Outlook, 2019-2027 (US$ Million)
1.2. Global Artificial Organs and Medical Bionics Market Incremental Opportunity, 2022- 2027 (US$ Million)
1.3. Key Industry Trends
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Market Drivers
2.2.2. Market Threats
2.2.3. Market Opportunities
2.3. Overview on Biomaterials used in Artificial Organs/ Medical Bionics
2.4. Regulatory Framework
2.5. Covid 19 Impact Analysis
3. Global Artificial Organs and Medical Bionics Market Outlook, 2019-2027
3.1. Global Artificial Organs and Medical Bionics Market Outlook, By Organ Type, 2019-2027
3.1.1. Key Highlights
3.1.2. Global Artificial Organs and Medical Bionics Market Outlook, by Organ Type, Value (US$ Million), 2019–2027
3.1.2.1. Kidney
3.1.2.2. Heart
3.1.2.3. Bones
3.1.2.4. Ear
3.1.2.5. Eye
3.1.2.6. Brain
3.1.2.7. Other
3.1.3. Global Artificial Organs and Medical Bionics Market Share and BPS Analysis, by Organ Type, Value, 2022 and 2027
3.1.4. Global Artificial Organs and Medical Bionics Market Attractiveness Analysis, by Organ Type, Value, 2022-2027
3.2. Global Artificial Organs and Medical Bionics Market Outlook, By Biomaterial Type, 2019-2027
3.2.1. Key Highlights
3.2.2. Global Artificial Organs and Medical Bionics Market Outlook, by Biomaterial Type, Value (US$ Million), 2019–2027
3.2.2.1. Metals
3.2.2.2. Polymers
3.2.2.3. Ceramics
3.2.2.4. Other
3.2.3. Global Artificial Organs and Medical Bionics Market Share and BPS Analysis, by Biomaterial Type, Value, 2022 and 2027
3.2.4. Global Artificial Organs and Medical Bionics Market Attractiveness Analysis, by Biomaterial Type, Value, 2022-2027
3.3. Global Artificial Organs and Medical Bionics Market Outlook, By Technology, 2019-2027
3.3.1. Key Highlights
3.3.2. Global Artificial Organs and Medical Bionics Market Outlook, by Technology, Value (US$ Million), 2019– 2027
3.3.2.1. Implantable
3.3.2.2. Wearable
3.3.3. Global Artificial Organs and Medical Bionics Market Share and BPS Analysis, by Technology, Value, 2022 and 2027
3.3.4. Global Artificial Organs and Medical Bionics Market Attractiveness Analysis, by Technology, Value, 2022-2027
3.4. Global Artificial Organs and Medical Bionics Market Outlook, By Region, 2019-2027
3.4.1. Key Highlights
3.4.2. Global Artificial Organs and Medical Bionics Market Outlook, by Region, Value (US$ Million), 2019-2027
3.4.2.1. North America
3.4.2.2. Europe
3.4.2.3. Asia Pacific
3.4.2.4. Rest of the World
3.4.3. Global Artificial Organs and Medical Bionics Market Share and BPS Analysis, by Region, Value, 2022 and 2027
3.4.4. Global Artificial Organs and Medical Bionics Market Attractiveness Analysis, by Region, Value, 2022-2027
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