Artificial Vital Organs and Medical Bionics Market is Predicted to See Lucrative Gains Over 2021-2022



 By 2022, the global market for artificial vital organs and medical bionics is predicted to have grown to USD 45.92 billion. Over the forecast period, the rising prevalence of disorders such as respiratory ailments, cirrhosis, heart, and kidney and liver failures are expected to raise demand for synthetic organs. Furthermore, the unprecedented growth of the senior population, which is especially susceptible to organ ailments, contributes significantly to the artificial vital organs and medical bionics industry.

Over the forecast period, technological breakthroughs about a novel product development, such as SynCardia Systems Inc.'s full-functioning artificial heart that caters to the needs of organ recipients, are likely to fuel the artificial vital organs and medical bionics market growth.

Additionally, shortage of organs and tissues for transplantation, rising need for immunosuppressive medications, and increased R&D procedures for organ regeneration through modified tissues is likely to boost market expansion.

Furthermore, positive government initiatives to maintain patient safety standards are predicted to support artificial vital organs and the medical bionics market expansion over the forecast period, which is expected to help artificial vital organs and medical bionics market growth.

Over the forecast period, improvements in the durability and compatibility of organ implants, as well as targeted research on reducing complication rates, are expected to fuel artificial market growth. Over the forecast period, market growth is expected to be aided by the introduction of life-saving technologies such as the bridge to transplant and the bridge to recovery in critical instances.

The artificial vital organs category, which accounted for almost 64% of the market, is predicted to increase at a CAGR of 7.7% while maintaining its dominance during the forecast period. Rapid technical breakthroughs and a large number of unmet needs are two major drivers driving market expansion. Furthermore, increased patient acceptability is envisaged as medical bionics become more well-known.

Because of the increasing acceptance of artificial organs in emerging economies, North America was designated as the largest regional sector in 2014, with a market share of about 42 percent. Furthermore, with a low rate of cadaveric organ donation, artificial organ transplants are projected to become more common. In addition, the region's economy is predicted to be groomed during the forecast period due to the large presence of key businesses operating in the region and the growing capacity of healthcare expenditure. During the projected period, Europe, followed by the Asia Pacific, is expected to have the biggest gain in revenue share.

The leading companies in the industry include Medtronic Inc., Baxter International, Edwards LifeScience Corporation, Touch Bionics, WorldHeart Corporation, and Abiomed Inc. These companies create a wide range of goods to meet the needs of a wide range of surgical applications, including cardiovascular problems and organ failures.

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