Factors leading to the growth of Artificial Vital Organs and Medical Bionics Market

According to a new analysis, the global artificial vital organs and medical bionics market is predicted to reach USD 45.92 billion by 2022. The expanding base of senior population suffering from chronic diseases such as cardiovascular and respiratory disorders, which lead to organ failures or damage, has been identified as a key growth driver in the artificial vital organs market.



 Additionally, the rising number of patients with physical disabilities, such as limb and arm loss due to hereditary reasons, accidents, military service, and industrial mishaps, is expected to boost medical bionics market growth throughout the forecast period.

In the next seven years, important developments such as the spread of universal health care schemes implemented by various governments and expanding public and private reimbursement policy coverage are predicted to promote the use of artificial vital organs and medical bionics.

Artificial heart, pancreas, kidneys, and lungs are among the items available in the artificial vital organs market. These are utilised in the transplantation of organs in individuals who have suffered organ damage or full organ failure.

Because of the rising prevalence of excessive blood sugar, hypertension, post-surgery infections, glomerular diseases, injury or burns, HIV, and other risk factors,  the artificial kidney market accounted for over 60% of the Artificial Vital Organs and Medical Bionics Market in 2014.

The fastest-growing product sector is predicted to be artificial liver, which is expected to increase at a profitable pace over the next seven years. The rising frequency of chronic lung disorders like COPD, as well as the drawbacks of utilising mechanical ventilators, are two key factors contributing to its rapid expansion.

Brain, ear, vision bionics, exoskeletons, and bionic limbs are all part of the medical bionics section. Due to the ever-increasing number of patients suffering from neurological diseases, brain bionics held the greatest market share of about 41% in 2014.. Additionally, the non-invasive nature of spinal cord stimulators, vagus nerve stimulators, and deep brain stimulators are major factors driving market growth over the next seven years. Because of their numerous uses in rescue, emergency response, home healthcare, and patient rehabilitation, exoskeletons are expected to see a significant increase in demand.

 

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