Artificial vital organs are man-made or artificially-created electronic or electromechanical machines, devices, or other materials that enhance or substitute a human beings’ natural biological capability by replacing missing or faulty organs. Medical bionics refers to the study of these artificial vital organs and their mechanical systems.
Earlier options for artificial organs transplant were limited or unavailable. A recipient required an organ to be donated by another living or dead human being. However, there are still several major challenges for anyone seeking or having to undergo an organ transplant. Organs and donors are subject to availability, and may not always be successful, and there is the primary challenge or finding a proper match for replacement. These are major factors driving demand for artificial organs and medical bionics, which is expected to fuel growth of the global artificial vital organs and medical bionics market over the forecast period.
Increasing aging population and increase in the number of cases associated with heart failure, and pancreas and lung disease is another major growth driving factor. In addition, limb loss owing to congenital factors, accidents, armed conflicts, civil war, and industrial accidents is expected to fuel growth of the global artificial vital organs and medical bionics market during forecast period. However, high-cost associated with research and development due to requirement of substantial resources, lack of satisfactory standards and methods, and physiological threats such as disabling injury or death are major factors restraining growth of the global artificial vital organs and medical bionics market.
During the period under review, the public health and mental health insurance community is becoming increasingly involved in the development of public health care services.
North American market leads among other markets in the global artificial vital organs and medical bionics market, and the trend is excepted to continue over the forecast period. Asia Pacific market, growing healthcare expenditure, enhanced healthcare facilitiesand infrastructure.
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Due to increased prevalence of high blood sugar, hypertension, post-surgery infections, glomerular diseases, injury or burns, HIV and other factors number of patients suffering from neurological conditions, artificial kidney segment andbrain bionics segment currently accounts for largest revenue in the global market. More over,artificial liver segmentis expected to become the fastest growing product segment in the next five years. Demand for exoskeletons is also expected to increase in response to chronic respiratory failure. It is also used in rescue, emergency response, home healthcare, and patient rehabilitation.
Some key players in the market include Abbott Diabetes Care, Abiomed Inc., Asahi Kasei Medical Co. Ltd., Baxter International Inc., Gambro AB, Medtronic Inc., Nikkiso Co. Ltd., SynCardia Systems Inc., Ossur Hf, WorldHeart Corp., Ekso Bionics, Touch Bionics, Ottobock Healthcare Gmbh, Second Sight Medical Products Inc., and others.