Continuous technological innovations coupled
with high investments in healthcare are two key factors that fuel the Global Artificial Organ And Bionics
Market. Artificial organs refer to devices that are developed to replace
natural organs in the human body. The need for organ transplant arises when a
certain natural organ has either stopped working or doesn’t function properly.
Artificial organs and artificial body parts are made from substances known as
biomaterials.
Man made hazards and high frequency of
accidents may propel the global artificial organ and bionics market during the
forecast period (2014 to 2020). Artificial liver, artificial limbs, artificial
pancreas, artificial heart, and artificial kidneys are examples of artificial
organs that function exactly like natural organs when implanted in the human
body. The application of electronics & mechanics in the field of medicine
has led to newer innovations in developing artificial organs.
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The worldwide artificial organ and bionics
market is categorized on the basis of products, technologies, and regions.
Based on products, the segments are artificial pancreas, artificial liver,
artificial lungs, artificial heart, and artificial kidney. Medical bionics
products are further subdivided into cardiac bionics, brain bionics, vision
bionics, heart bionics, limb bionics, and exoskeleton bionics. Due to high
prevalence of heart disorders worldwide, the segment for heart bionics
holds the largest share in the overall market. The artificial lungs &
kidney segments held considerable industry shares in 2013. These segments may
grow substantially during the forecast period because of problems, such as
alcohol abuse and consumption of drugs & cigarettes.
On the basis of technologies, the industry is
bifurcated into mechanical bionics and electronic bionics. Rapid technological
advancements have led to the development of medical bionics that meets the
challenges of organ failure. Mechanical bionics is mostly employed in the
development of orthopedic body parts.
As per regions, the global artificial organ
and bionics market is categorized into Europe, Asia Pacific, North America, and
Rest of the World. North America led the industry in 2013. Factors that fuel
this region are high investments in research & development and
technological advancements. Growing geriatric population, rising cases of organ
failure, and high incidence of accidents may contribute to regional growth over
the forecast period. However, the Asia Pacific market is poised to grow rapidly
over the next couple of years. This industry is driven by steady government
support, medical tourism, and surging disposable incomes. Government support
has led to improvements in healthcare infrastructures.
Companies in the worldwide artificial organ
and bionics market are Second Sight Medical Product Inc.; Medtronic Co. Ltd.;
World Heart Corporation; Thoratec Corporation; and Lifenet Health. Besides
being monopolistic, the global market is a highly competitive one too.
Researchers have begun examining using 3D
printing in the development of artificial organs. Organovo, a U.S. based
biotech startup, focuses on 3D printing of human tissues. These are then
sculpted in layers to form organs. Nano Dimension, an Israeli 3D printing
company in collaboration with Accellta has successfully mixed human stem cells
in printing inks. Accellta is an Israel based stem cell technology company. The
striking feature of the inkjet methods of Nano Dimension is the speed at which
it prints the human tissues. While most 3D printing techniques take hours to
perform this task, Nano Dimension’s technology does it in a matter of seconds.
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