Medical Bionic Implant/Artificial Organs Market Analysis
Bionic implants are known as artificially engineered devices. These devices are implanted into a human in order to replace a natural organ and to act as a substitute of the same. The global medical bionic implant/artificial organs market is projected to register a CAGR of 7.0% over the assessment period between 2018 and 2023.
It is reported that the growing incidences of organ failure to have a positive effect on increasing the demand for replaceable or implantable organs. This is thereby pushing the growth of the overall bionic implant/artificial organs market. The growing aging population is another key factor driving the market demand for these implantable/artificial organs as organ failure is found to be more common in the older age bracket.
A vast number of factors are identified as the potential drivers of the market, such as technological advancements, rising incidences of accidents and injuries, improving regulatory framework, prevalence of organ failure, increasing government support in terms of initiatives and R&D expenditures, and growing prevalence of eye diseases.
However, the high cost associated with the devices, poor healthcare facilities in low and mid-level income nations, and lack of any skilled or proficient professionals can hamper the growth of the market during the forecast period.
Medical Bionic Implant/Artificial Organs Market Segmentation
The global medical bionic implant/artificial organs market segmentation is done on the basis of product, technology, fixation, and end-user.
By technology, the market divides into electronic bionics and mechanic bionics.
By fixation, the market is classified into externally worn and implantable.
By end-users, the market includes research and academic institutes, hospitals and clinics, and others.
By product, the market comprises orthopedic bionics, ear bionics, vision bionics, neural/brain bionics, heart bionics, and others.
Here, vision bionics is narrowed down into bionic and others.
Ear bionics is segmented into Bone Anchored Hearing Aid (BAHA) and cochlear implant.
Orthopedic bionics sub-segmented into bionic finger, bionic leg, bionic hand, electrical bone growth stimulators, and exoskeleton. Bionic leg breaks down into bionic feet and bionic knee. Electrical bone growth stimulator segment comprises non-invasive bone growth stimulators and invasive bone growth stimulators.
Heart Bionics segment is divided into total artificial heart, artificial heart valve, pacemaker, and ventricular assist device. The pacemaker segment includes external pacemaker and implantable cardiac pacemaker. Artificial heart valve narrows down into tissue heart valve and mechanical heart valve.
Neural/brain bionics is broken down into vagus nerve stimulators, spinal cord stimulators, and deep brain stimulators.
Medical Bionic Implant/Artificial Organs Market Regional Analysis
The global medical bionic implant/artificial organs market is regionally segmented into North America, Europe, Asia Pacific, and the Middle East & Africa region.
The Americas hold the dominant portion of the market due to the emergence of advanced medical bionic implants by various key players.
Europe stands tall as the second largest market in medical bionic implant artificial organs. Herein, favorable government support towards research and development activities and prevalence of organ failure and other relevant complications are expected to be the major drivers of the market.
Asia Pacific is believed to be the fastest growing regional market due to the huge pool of patient population, increasing development in the healthcare technology, and growing demand for advanced form of treatments.
Finally, the Middle East and Africa market holds the lowest share in the global standings due to lack of technical expertise or knowledge, low level of development, and poor medical facilities. The region is expected to grow at a paltry rate.
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Medical Bionic Implant/Artificial Organs Market Competitive Landscape
The global medical bionic implant artificial organs market includes the following key players Biomet, Inc. (U.S.), NeuroPace, Inc. (U.S.), Medtronic, Inc. (U.S.), Aleva Neurotherapeutics SA (Switzerland), Boston Scientific Corporation (U.S.), Ekso Bionics (U.S.), Cochlear Ltd. (Australia), LivaNova PLC (U.K), Orthofix International N.V. (The Netherlands), Ossur (Iceland), Cyberonics, Inc. (U.S.), Biocontrol Medical (Israel), St. Jude Medical, Inc. (U.S.), Second Sight Medical Products, Inc. (U.S.), and others.
March 15th, 2019, Scientists in Poland’s Foundation for Research and Science Development revealed their usage of 3D bioprinting to create bionic pancreas and help secure it from diabetes.
The global Medical Plastics Market size during this pandemic is projected to grow from USD 25.1 billion in 2020 to USD 29.4 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 17.2% during the forecast period.
Browse 25 market data Tables and 6 Figures spread through 57 Pages and in-depth TOC on "COVID-19 Impact On “Medical Plastics Market”.Medical plastics are used in medical disposables, prosthetics, medical instruments & tools, drug delivery, and other applications.
The major applications of these plastics include the manufacturing of masks, gloves, drapes, gowns, trays, catheters, syringes, orthopedic devices, surgical tools, and lab wares.
Increased requirements of PPEs such as gloves, masks, drapes, gowns, and others will boost the consumption of standard plastics such as PP, PE, PVC, and drive demand.Critical questions the report answers:What are the upcoming trends for the medical plastics market during this period?How are the market dynamics for different types of medical plastics during this period?What are the significant trends in applications influencing the medical plastics market during this period?What are the factors governing the medical plastics market in each region during this period?What are the strategies followed by various companies during this period?Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=131817177Celanese (US) is another major player operating in the medical plastics market.
The company has a strong global presence and offers medical plastics for various applications such as catheters, implants, surgical instruments, dental tools, and drug delivery devices.
Besides, the use of these disposables as instructed by various agencies, such as USFDA and Europe FDA, are propelling the demand for medical plastics globally.
COVID-19 impact on Medical Supplies market is expected to grow from USD 82.68 billion in 2019 at a CAGR of 4.8% from 2020 to 2026.The marketplace for medical supplies is driven primarily by the growing awareness on environmental & personal hygiene resulting in rising demand for disinfectants, expansion of healthcare settings due to increasing COVID 19 patients, increased requirement of PPE kits & N95 masks globally, increasing demand for ventilators, and increasing demand for diagnostic supplies.
Rising awareness regarding environmental & personal hygiene resulting in the growing demand for disinfectants, an increasing number of emergency centers; hospital settings and ICUs during the Pandemic, increasing need of healthcare workers in hospitals and government camps & surveys, increased demand of PPE kits and n95 masks globally, growing demand for ventilation supplies for effective management of critical COVID-19 patients, and rising demand of diagnostic supplies for rapid diagnosis of COVID-19 are the main factors driving the expansion of this market.View Complete Report: @ https://marketreportslibrary.com/report/he252/covid-19-impact-on-medical-supplies-marketThe global COVID-19 impact on Medical Supplies market has been segmented as below:By ProductDiagnostic suppliesSample collection consumablesDiagnostics cathetersDisinfectantsIntubation & ventilation supplies Personal protection equipmentSterilization suppliesInfusion and injectable suppliesDialysis consumablesPeritoneal dialysis consumablesHemodialysis consumablesWound care suppliesAdvanced wound dressingsSurgical wound careTraditional wound careRadiology suppliesOther medical suppliesBy End-UserHospitalsPhysician’s Offices/ClinicsOther End UsersBy RegionEuropeNorth AmericaAsia PacificRest of The WorldCompetitive RivalryMedtronic plc, Cardinal Health, Inc., Becton, Dickson and Company, Johnson & Johnson, B. Braun Melsungen AG, Fresenius Medical Care AG & Co. KGaA, Baxter International, Inc., STERIS Corporation, Getinge Group, and others are among the major players in the global market.
The companies studied in terms of product strategy and various n several growths and expansion strategies to gain a competitive edge in the market.
The major players not only follow value chain integration with business operations in multiple stages of the value chain.Request a Sample of this Report: @ https://marketreportslibrary.com/request/sample/he252/covid-19-impact-on-medical-supplies-marketExplore other reports from ”Healthcare” sector @ https://marketreportslibrary.com/category/healthcare Contact Us:SRR residency Mig-59, 7th phase Kphb colony Near prathibha school Hyderabad, [email protected]
Major Growth Boosting Factors: The market for medical supplies is driven primarily by the growing awareness on environmental & personal hygiene leading to rising demand for disinfectants , expansion of healthcare settings owing to increasing COVID 19 patients, increased requirement of PPE kits & N95 masks globally, rising demand for ventilators, and increasing demand for diagnostic supplies.In addition, repurposing liquor production lines to manufacture sanitizers offers an opportunity for players in this market.
However, delays in non-urgent treatment and surgical procedures and impact on supply chain and logistics due to lockdown is likely to restrain the growth of this market.Revenue Growth Opportunities: The COVID-19 impact on Medical Supplies Market is expected to reach USD ~100 billion by 2021 from an estimated value of USD ~78 billion in 2019, growing at a CAGR of ~13.4% during the forecast period.Recent Developments:In April 2020, Baxter received USFDA Emergency Use Authorization for Oxiris Blood Purification Filter for COVID-19 Treatment.In Arizona, the US, SanTan Brewing, has repurposed its beer production line to manufacture hand sanitizer.
In April 2020, SanTan began producing 400 gallons of medical-grade hand sanitizer for first responders and healthcare professionals.In New York (US), in March 2020, Pernod Ricard’s facility in Fort Smith, Ark.
produced 1,000 gallons of hand sanitizer; it originally produced Malibu coconut rum and Seagram’s gin.In India (Bengaluru), Diageo India, which sells McDowell’s whiskey and Smirnoff vodka, announced that it would produce 300,000 liters of hand sanitizers to help overcome the shortage.Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=158189339Based on type,The medical supplies market is segmented into intubation and ventilation supplies, disinfectant, personal protective equipment, diagnostic supplies, sterilization supplies, infusion and injectable supplies, dialysis supplies, wound care supplies, radiology supplies, and other medical supplies.
The disinfectant segment is expected to grow at the highest CAGR during the forecast period.
This growth can be attributed to factors such as the increasing demand for hand sanitizers, rising awareness about personal hygiene, increased consumption of disinfectant in healthcare facilities are driving the growth of the disinfectant market globally.Based on end users,The medical supplies market is segmented into hospitals, clinics, and other end-users.
