U.S (New York) – Report Ocean has recently published a comprehensive research report titled “Vital Organs Support Systems and Medical Bionics Market ” Research Report 2023-2031. This report delves deep into the market and offers valuable insights into (Key Market Trends, Emerging Technologies, Market Drivers and Challenges of the Industry, Regulatory Policies), company profiles of key players, and their strategies. With over 100+ market data tables, pie charts, graphs, and figures, this global market study is now available. The report provides a thorough evaluation of the market, (Encompassing Future Trends, Current Growth Factors, Expert Opinions, Factual Information), and industry-validated market data, with a forecast extending until 2031.
According to a new report published by Report Ocean, titled, “Vital organs support systems and Medical Bionics Market by Product Type and End User: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,” The global vital organs support systems and medical bionics market size in 2017 was $28,169 million, and is projected to reach $59,412 million by 2025, growing at a CAGR of 9.9% from 2018 to 2025. The artificial kidney segment accounted more than three-fifth of the total market share in 2017.
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=43239
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Artificial organs are medical devices that are implanted into a human body to efficiently replace the nonfunctioning organs and restore the bodily functions to normalcy. On the other hand, medical bionics is the collaboration between engineering and science to deliver and design medical solutions to several patients. Some of the popular examples of medical bionics are bionic hearing, brain stimulation, and vision devices. The vital organs support systems and medical bionics market focuses on design solutions to improve the life of patients and increase their life expectancy. Over the years, the global market has experienced considerable growth due to lack of donor organs and increase in waiting list of patients who need organ transplantation.
The vital organs support systems and medical bionics market is expected to exhibit significant growth during the forecast period due to rise in geriatric population, scarcity of donor organs, technological advancements in the artificial organ sector, and increase in R&D expenditure. In addition, rise in number of patients suffering from chronic diseases drives the vital organs support systems and medical bionics market growth. However, high cost of artificial organs and stringent approval process are projected to impede growth of the market. Conversely, application of advanced biomaterials in artificial organs and lucrative opportunities in emerging economies are expected to provide significant prospects for the manufacturers in the industry.
Download Free Sample of This Strategic Report: https://reportocean.com/industry-verticals/sample-request?report_id=43239
Based on product, the market is categorized into vital organs support systems and medical bionics. The vital organs support systems segment is further segmented into artificial heart, artificial kidney, artificial pancreas, artificial urinary bladder, artificial lungs, and artificial liver. The medical bionics segment is subdivided into bionic eye, ear bionics, orthopedic bionics, cardiac bionics, and neural bionics. Based on vital organs support systems segment, its artificial pancreas subsegment is projected to exhibit the highest growth during the forecast period. This is attributed to rise in incidence of severe hypoglycemia in type 1 and type 2 diabetic patients.
North America was the leading revenue contributor to the global market in 2017, and is expected to remain dominant throughout the forecast period. This is attributed to upsurge in incidence of chronic diseases such as cardiac and neural diseases, rise in elderly population, and increase in adoption of technologically advanced devices such as total artificial heart.
The report provides a comprehensive analysis of the key players operating in the global vital organs support systems and medical bionics market industry, namely, Abiomed, Inc., Abbott Laboratories, Asahi Kasei Corporation (Evaheart Medical U.S.A., Inc.), Baxter International Inc., Boston Scientific Corporation, Cochlear Ltd., Edwards Lifesciences Corporation, Jarvik Heart, Inc., Medtronic Plc., ossur Americas, Inc., Second Sight Medical Products, Inc., and SynCardia Systems LLC. The other players in the value chain include Getinge AB, LivaNova PLC, Fresenius Medical Care AG & Co. KGaA, Heartware International Inc., BiVACOR, and others.
To Get More Business Strategies For Request Sample Report: https://reportocean.com/industry-verticals/sample-request?report_id=43239
Key Findings of the Vital organs support systems and Medical Bionics Market:
Based on vital organs support systems segment, its artificial pancreas sub segment is expected to experience rapid growth in the market and is projected to grow at highest CAGR from 2018 to 2025.
Based on medical bionics segment, its neural bionics sub segment was the major revenue contributor in 2017 and is anticipated to continue this trend during the forecast period.
Depending on end user, the ambulatory surgical center segment is expected to exhibit the highest CAGR during the forecast period.
U.S. generated the highest revenue in the global vital organs support systems and medical bionics market industry in 2017, accounting less than one-tenth of the global market in 2017.
Asia-Pacific is estimated to grow at a highest CAGR during the forecast period.
Why Choose Report Ocean Reports?
Uncovering business opportunities: Our market research reports are invaluable for analyzing potential markets and identifying new product opportunities. They provide insights into customer needs, preferences, and attitudes, as well as facilitate product and service comparisons.
Gaining a clear understanding of your customers: Market reports offer a comprehensive understanding of customers’ needs and desires, empowering your company’s marketing department to enhance products, reduce costs, and improve promotional strategies based on this valuable information.
Data-driven insights: Our market research encompasses a broad spectrum of activities, including market size determination, demand forecasting, competitor analysis, and price monitoring. All these aspects are quantified and measurable, providing you with tangible data-driven insights that enable informed decision-making.
Key Highlights:
Revenue and Sales Estimation: Our reports present historical revenue and sales volume data, which is further triangulated using top-down and bottom-up approaches to forecast the complete market size. Additionally, the report provides estimates for key regions, along with well-recognized types and end-use industries. Macroeconomic factors and regulatory policies are also considered for industry evolution and predictive analysis.
Five Forces Analysis: To enhance market understanding, we conduct a comprehensive five forces analysis that includes evaluating the bargaining power of buyers and suppliers, the threat of new entrants, the threat of substitutes, and the level of rivalry within the market.
Competition: We study leading players in the industry based on their company profile, product portfolio, capacity, product/service pricing, sales performance, and cost/profit analysis.
Demand & Supply and Effectiveness: Our reports provide insights into distribution channels, production, consumption, and, if applicable, import and export activities.
Request full Report: https://reportocean.com/industry-verticals/sample-request?report_id=43239
About US Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.
Get in Touch with Us:
Report Ocean:
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel: +1888 212 3539 (US – TOLL FREE)
Email: sales@reportocean.com
Visit our news website: https://reportocean.com