Organs Support Systems and Medical Bionics Market in Vital to Reach Valuation of $59.41 Billion by 2025 | Cochlear Ltd., LivaNova PLC

UPDATE AVAILABLE ON-DEMAND

Artificial organs are medical devices that are implanted into a human body to efficiently replace the nonfunctioning organs and restore the bodily functions to normalcy. On the other hand, medical bionics is the collaboration between engineering and science to deliver and design medical solutions to several patients.

The global vital organs support systems and medical bionics market size in 2017 was $28,169 million, and is projected to reach $59,412 million by 2025, growing at a CAGR of 9.9% from 2018 to 2025. The artificial kidney segment accounted more than three-fifth of the total market share in 2017.

Download Free Report Sample @ https://www.alliedmarketresearch.com/request-sample/5283

Some of the popular examples of medical bionics are bionic hearing, brain stimulation, and vision devices. The vital organs support systems and medical bionics market focuses on design solutions to improve the life of patients and increase their life expectancy. Over the years, the global market has experienced considerable growth due to lack of donor organs and increase in waiting list of patients who need organ transplantation.

COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

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 vital organs support systems and medical bionics market growth.

Inquire before buying @ https://www.alliedmarketresearch.com/purchase-enquiry/5283

However, high cost of artificial organs and stringent approval process are projected to impede growth of the market. Conversely, 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.

Based on product, the market is categorized into vital organs support systems and medical bionics. The vital organs support systems segment is further segmented into artificial heart, artificial kidney, artificial pancreas, artificial urinary bladder, artificial lungs, and artificial liver. The medical bionics segment is subdivided into bionic eye, ear bionics, orthopedic bionics, cardiac bionics, and neural bionics. Based on vital organs support systems segment, its artificial pancreas subsegment is projected to exhibit the highest growth during the forecast period. This is attributed to rise in incidence of severe hypoglycemia in type 1 and type 2 diabetic patients.

North America was the leading revenue contributor to the global market in 2017, and is expected to remain dominant throughout the forecast period. This is attributed to upsurge in incidence of chronic diseases such as cardiac and neural diseases, rise in elderly population, and increase in adoption of technologically advanced devices such as total artificial heart.

Access Full Report @ https://www.alliedmarketresearch.com/vital-organs-support-systems-and-medical-bionics-market

The Major Key Players Are:

Abiomed, Inc., Abbott Laboratories, Asahi Kasei Corporation (Evaheart Medical U.S.A., Inc.), Baxter International Inc., Boston Scientific Corporation, Cochlear Ltd., Edwards Lifesciences Corporation, Jarvik Heart, Inc., Medtronic Plc., Össur Americas, Inc., Second Sight Medical Products, Inc., and SynCardia Systems LLC.

The other Key players are:

Getinge AB, LivaNova PLC, Fresenius Medical Care AG & Co. KGaA, Heartware International Inc., BiVACOR, and others.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.