Published Date: 28-Jul-2022
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According to a new report, published by KBV research, The Global Artificial Organ And Bionics Market size is expected to reach $39.5 billion by 2028, rising at a market growth of 9.8% CAGR during the forecast period.
The Artificial Organs segment is leading the Global Artificial Organ And Bionics Market by Product in 2021, thereby, achieving a market value of $27.1 billion by 2028. The segment is rapidly growing as a result of increased demand for liver, heart, kidney, and lung transplants. There are a lot of factors that are to be considered while undergoing an organ transplant, including body size, distance from a donor, blood type, and degree of disease. This factor is playing a major role in accelerating the growth of the artificial organs and bionics market.
The Electronic segment is showcasing a CAGR of 11.3% during (2022 - 2028). A significant proportion of worldwide population live with a physical impairment, and also, several adults experience primary functional difficulty. The logistical and budgetary obstacles are still significant in the majority of developing nations. For many people with disabilities, getting prosthetics like fake arms, hands, and legs is their only option. Therefore, the growth of the segment is surging.
The North America market dominated the Global Artificial Organ And Bionics Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17.16 billion by 2028. The Europe market is estimated to witness a CAGR of 9.1% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 11% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Abiomed, Inc., Berlin Heart GmbH, Zimmer Biomet Holdings, Inc., Boston Scientific Corporation, Cochlear Ltd., Ekso Bionics Holdings, Inc., Jarvik Heart, Inc., Medtronic PLC, iWALKFree, Inc., and Edwards Lifesciences Corporation.
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