Europe Artificial Organs and Bionics Market is expected to reach USD 7.65 Billion by 2021

Europe Artificial Organs and Bionics Market is expected to reach USD 7.65 Billion by 2021 | Market Data Forecast

(IT-NEWSWIRE.COM, June 14, 2017 ) The Europe Artificial Organs and Bionics market has been estimated at USD 5.00 Billion in 2016 and is projected to reach USD 7.65 Billion by 2021, at a CAGR of 8.90% during the forecast period from 2016 to 2021. Artificial organ is man-made machine or device that is used to replace the functions of missing or faulty organ and restores the functions of original organ. Medical bionics refers to the study of artificial body parts that are substituted for a natural biological capability.

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The market for Artificial Organs and Bionics is mainly driven due to increasing rate of organ failures due to age-related disorders, lack of organ donors, technological advancements, and high incidence of road accidents and injuries leading to amputations. But, the market growth can be constrained due to high cost of devices and uncertain reimbursement scenarios in different regions, limited surgical expertise, and high cost of development.

Europe market for Artificial Organs and Bionics is segmented based on Product, Technology and Type of fixation. By Products, the market is further sub-segmented into Artificial Organs and Bionics. Artificial Organs segment is further sub-segmented into Artificial Heart, Artificial Kidney, Artificial liver, Artificial pancreas, and Artificial lungs. Bionics segment is further sub-segmented into Vision bionics, Orthopedic bionic, Cardiac Bionics, and Brain bionics. By Technology, the market is further sub-segmented into Electronic bionics and Mechanical bionics. By Type of fixation, the market is further sub-segmented into Implantable and Externally-worn. Cardiac bionics and Brain bionics accounts for the largest share in this market.

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Geographically, Europe market for Artificial Organs and Bionics is segmented into U.K., Germany, Spain, France and Italy. Europe is the second biggest market in terms of market share across the globe. There is a high demand from the patients for organ transplantation surgery, whereas availability of the donors to fulfill this demand is low. Due to this factor, the market is experiencing fair growth in Europe.

Orthofix International N.V., Biomet, Inc., Medtronic, Inc., Cochlear Ltd., Second Sight Medical Products, Inc., Ossur, Ekso Bionics, St. Jude Medical, Inc., Baxter International, Inc., Abiomed Inc., Asahi Kasei Medical Co., Ltd, Berlin Heart GmbH, Boston Scientific Corporation, F Hoffman-La Roche Ltd, Worldheart Corporation, Thoratec Corporation, Gambro AB, Lifenet Health, Jarvik Heart Inc. are the major players of Europe Artificial Organs and Bionics market.

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Europe Artificial Organs and Bionics Market is expected to reach USD 7.65 Billion by 2021 | Market Data Forecast