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Increasing rate of organ failures because of age-related disorders to drive Artificial Organs and Bionics Market

 



(PharmaNewsWire.Com, April 26, 2018 ) Artificial organs are synthetic implants that are integrated into the material body to imitate and operate the initial organ. Additionally, engineering science could be a collaboration of physical science and biology. Medical engineering science develop the robotic substitute for different components of the body. These engineering science mimics operate the natural biological systems. The necessity of those artificial organs and engineering science is to operate as traditional organ once the existing natural system fails to operate in the desired manner. Medical engineering science is employed in numerous areas such as hearing, brain stimulation and vision.
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The Europe Artificial Organs and Bionics Market is estimated to have a value of USD 5 billion in 2016. With a CAGR of 8.9%, the market size is expected to grow rapidly to cross USD 7.65 billion by 2021. Increasing rate of organ failures because of age-related disorders, lack of organ donors, technological advancements, and high incidence of road accidents and injuries resulting in amputations are some of the factors fueling the market growth.
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Drivers and Restraints
The Artificial Organs And Bionics Market could be a growing market attributable to factors resembling large demand among the patients for organ transplantation, growing technological advancement in the medical technologies, increasing investments created for analysis and development activities by the government, growing public awareness, advancements created in the medical bionic implant and artificial organ procedures and rising demand for screenings conducted in the identification and treatment method. Increasing aging population, rising incidents of road accidents, injuries and organ failure, rising financial gain and higher living standards are driving the market growth. However, there are sure restraining factors to the market growth that embrace high prices related to transplantation, pricey devices unsure compensation eventualities in several regions and restricted surgical expertise.
Last year, 25,624 individuals died in road accidents in the EU, some five hundred fewer than the previous year (-2%). There has been a downward trend over the last twenty years in the range of road traffic victims in the EU. Compared with 1996, the quantity of road fatalities has fallen by nearly 35,000 persons (-57%), from slightly over 60,000 to under 26,000 in 2016.
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Regional Overview
Europe Artificial Organs and Bionics Market is showing consistent growth in the past few years and is anticipated to continue the same in the forecast period. The major market contributors for the Artificial Organs and Bionics Market are 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.

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