Artificial Organs and Medical Bionics Market Likely to Surpass Revenue of US$54 Bn in 2027
Fairfield Market Research Indicates That the Global Artificial Organs And Medical Bionics Market Will Demonstrate a Strong Rise of 10.4% CAGR During the Period Of Assessment (2022-2027)
London, Dec. 01, 2022 (GLOBE NEWSWIRE) -- In a recently released report on *global artificial organs and medical bionics market*, Fairfield Market Research suggests that the opportunity resides in the unmet need in form of the consent-related complexities, long waiting lists, and dearth of both viable organs and organ donors. *In 2021,* *global artificial organs and medical bionics market revenue exceeded US$30 Bn as per the report findings. Estimated to demonstrate nearly 10.4% growth between 2022 and 2027, the market will reach the valuation of US$54.4 Bn toward the end of forecast year*. The report states that the market will remain buoyant on account of a colossal demand-supply gap in worldwide human organ transplantation industry. Organ replacement procedures are associated with several complexities, including ethical concerns, regulatory norms, biocompatibility concerns, and risks of malfunctioning. In addition, exorbitant costs against an overall poor reimbursement scenario remain substantial challenges facing rapid progress of the artificial organs and medical bionics market. The report also highlights potential safety and efficacy issues, and restricted functionality as the other significant growth deterrents for the market in long term.
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*Key **Research **Insights *
· Metals represent the top material segment as they continue to be the most compatible biomaterial likely to contribute nearly US$17 Bn to market by 2027
· Artificial kidneys remain at the forefront of demand and are expected to account for nearly 25% revenue share in 2027
· North America’s lead will prevail through 2027 end, reaching an estimated valuation of US$23 Bn
*Insights into Segmental Analysis*
Projected to account for revenue of around US$17 Bn in 2027, metals will remain the most preferred choice material in global for artificial organs and medical bionics market. Metals possess greater biocompatibility, which warrants their adoption with several innovations that raise their viability for the respective transplantations. New doors will unlock opportunities for participants of artificial organs and medical bionics market as there has been a boom around the development of miniature artificial organs for permanent implantation. On the other side, the number of kidney transplant procedures has been on a constant rise over the recent past. Kidney has been anticipated to be the clear leader in the market and the artificial kidney segment is expected to account for a fourth of the total market valuation toward the end of 2027. In terms of technology, implantable technology continues to overpower the wearable counterpart according to the report forecast. By the end of forecast period, the artificial organs and medical bionics market is likely to receive the contribution of around US$34 Bn from the implantable technology segment.
*Key Report Highlights*
· Deepening penetration of 3D printing, and stem cell implementation in medical industry are playing a crucial role in positioning artificial organs and medical bionics as a part of a lifesaving technology
· Medical bionics have been witnessing some ground-breaking developments recently that are likely to accelerate the progress of biomedical devices. This eyes faster treatment of patients with organ failure(s)
· High-end technologies like 3D bioprinting, and organ-on-chip will add value to the effort toward addressing organ shortages, and end-stage organ failures
*Insights into Regional Analysis*
North America, followed by Europe, accounts for the lion’s share in global artificial organs and medical bionics market revenue. Toward the end of 2027, North America’s market for artificial organs and medical bionics is expected to reach the valuation of US$23 Bn, says the report. Asia Pacific on the other hand will demonstrate exceptionally rising market attractiveness during the period of projection. The report has attributed faster growth of market here to the rocketing prevalence of hearing and vision loss cases, kidney diseases and failure, and cardiovascular disorders. The region is also likely to thrive on the back of consistently improving healthcare spending of both governments and consumers, as well as an increasing number of surgeries across several medical sectors. Further complemented by the unprecedented growth of medical tourism, Asia Pacific’s artificial organs and medical bionics market will observe a robust10.9% CAGR through the end of 2027.
*Global** Artificial Organs and Medical Bionics Market **Players*
Ekso Holdings Inc, Medtronic plc, Cochlear Ltd, Orthofix International N.V., DJO Global, Zimmer Biomet Ltd, Ossur hf, ReWalk Robotics, Second Sight Medical Products Ltd.
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*REPORT SCOPE*
*Report Attributes* *Details*
Base Year 2021
Forecast Year 2022 – 2027
Market Size in 2021 US$30.3 Bn
Estimated Market Size in 2027 US$54.4 Bn
CAGR 10.4%
Key Players Cochlear Ltd, DJO Global, Ekso Holdings Inc, Zimmer Biomet Ltd, Medtronic plc, Orthofix International N.V., Second Sight Medical Products Ltd., Ossur hf, ReWalk Rob
*Market Segmentation*
*Organ Type*
· Kidney
· Heart
· Bones
· Ear
· Eye
· Brain
· Other
*Biomaterial*
· Metals
· Polymers
· Ceramics
· Other
*Technology*
· Implantable
· Wearable
*Geographical Coverage*
· North America
· Europe
· Latin America
· Middle East & Africa
· Asia Pacific
*Leading Companies*
· Zimmer Biomet Ltd
· Cochlear Ltd
· Second Sight Medical Products, Inc.
· Ossur hf
· Rewalk Robotics Ltd
· Orthofix International N.V.
· Ekso Bionics Holdings Inc.
· Medtronic plc
*Report Inclusions*
· Market Estimates and Forecast
· Market Dynamics
· Industry Trends
· Competition Landscape
· Organ Type-wise Analysis
· Application-wise Analysis
· Biomaterial-wise Analysis
· Region-wise Analysis
· Country-wise Analysis
· Key Trends Analysis
· COVID-19 Impact Analysis
*About Us*
*Fairfield Market Research* is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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