Global Artificial Organ & Bionics Market (Artificial Heart, Liver, Kidney, Pancreas, Bionic Limbs, Hear Valves, Cardiac, Vision) - Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

The global market for artificial organ and bionics is expected to reach USD 38.75 billion by 2020 at an estimated CAGR of 9.3% from 2014 to 2020, according to a new study by Grand View Research, Inc. Increasing prevalence of acute renal failure and renal disorders due to lifestyle habits such as excessive alcohol consumption and growing geriatric population base causing a rise in organ failure rates is expected to serve this market as a high impact rendering driver. In addition, growing incidence rates of accidents is expected to boost the demand for organ transplants, thus increasing demand for artificial organ. Artificial kidney dominated the global market in 2013, with revenue estimated at over USD 12.21 billion; demand is expected grow due to the increasing chronic kidney patients. Artificial liver is the fastest growing market segment, at an estimated CAGR of 11.0% from 2014 to 2020.

The report “Artificial Organ And Bionics Market Analysis By Product (Artificial Heart, Liver, Kidney, Pancreas, Bionic, Limbs, Heart Valves, Cardiac, Vision), By Technology (Mechanical, Electronic) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/artificial-organ-and-bionics

Further key findings from the study suggest:

• Brain bionics in the medical bionics market held the largest share of revenue for the year 2013 and the market is expected to grow at an estimated CAGR of 40.0%.The presence of high unmet medical needs in neurology disease segment coupled with expensive treatment procedures is expected to drive the market for brain bionics. Exoskeleton is the fastest growing segment and is expected to grow at a CAGR of 16.0% from 2014 to 2020.

• North America was the largest regional market in 2013, accounting for over 42.0% of global revenue due to the increasing population and awareness among the patients and the players.

• Asia Pacific is the...