New York, June 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Artificial Organ And Bionics Global Market Report 2023" - https://www.reportlinker.com/p06466602/?utm_source=GNW
The global artificial organ and bionics market is expected to grow from $27.22 billion in 2022 to $30.32 billion in 2023 at a compound annual growth rate (CAGR) of 11.4%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $45.40 billion in 2027 at a CAGR of 10.6%.
The artificial organs and bionics market consists of sales of artificial hearts, total artificial hearts (TAH), artificial kidneys, artificial livers, ear bionics, vision bionics, orthopaedic bionics, and heart bionics.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Artificial organs and bionics refer to any machine, or device that has been used to replace the functions of a defective or missing organ of the body and bionics is the science of constructing artificial systems that are having few characteristics of living systems. The use of artificial organs is to increase a person’s life.
North America was the largest region in the artificial organ and bionics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the artificial organ and bionics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of artificial organ and bionics are artificial organs and artificial bionics.Artificial organ refers tp any machine, device that have been used to replace the functions of a missing organ or other part of the human body.
The fixation types are implantable and externally-worn, cardiac bionics and brain bionics. The technologies involved mechanical bionics and electronic bionics.
An increasing number of transplants is expected to propel the growth of the artificial organ and bionics market going forward.Transplant refers to the surgical procedure in a human or animal in which a body tissue or organ is transferred from a donor to a recipient or from one part of the body to another.
Artificial organs are devices that have been implanted in the body for replacing the damaged organ and for performing specific functioning of the natural organ which helps the patient to lead a normal life as before. For example, according to United Network for Organ Sharing, a US-based non-profit, scientific and educational organization, in 2022, 42,887 organ transplants were performed in the United States, an increase of 3.7% over 2021 and more than 25,000 kidney transplants were performed in the United States, an increase of 3.4% over 2021. Therefore, the increasing number of transplants is expected to drive the growth of the artificial organ and bionics market.
Product innovations are the key trends gaining popularity in the artificial organ and bionics market.Major companies operating in the artificial organ and bionics market are developing new products to sustain their position in the market.
For example, in September 2021, CARMAT, a US-based designer and developer of the world’s most advanced total artificial heart, launched the first implant of its bioprosthetic artificial heart, Aeson, in a female recipient. The product is compact enough to fit inside smaller chest cavities in women and will increase the chances for success.
In December 2022, Johnson & Johnson, a US-based healthcare products company, acquired Abiomed Inc for an undisclosed amount.This acquisition will help Johnson & Johnson’s to accelerate growth in the delivering innovative medical technologies and MedTech business across the world.
Abiomed Inc is a US-based company operating in artificial organs and bionics.
The countries covered in the artificial organ and bionics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The artificial organ and bionics market research report is one of a series of new reports that provides artificial organ and bionics market statistics, including artificial organ and bionics industry global market size, regional shares, competitors with an artificial organ and bionics market share, detailed artificial organ and bionics market segments, market trends and opportunities, and any further data you may need to thrive in the artificial organ and bionics industry. This artificial organ and bionics market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466602/?utm_source=GNW
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