Enhancements to the body which were once thought of as science fiction technology that can never be done to the human body have become a possibility. All this is being attributed to the bionics technology that has become more reality than fantasy for people with disabilities over the past two decades. The primary objective of this field is to implant prosthetics or devices which function as well as the original organs. The word ‘bionics’ was coined in the late 1950s and it literally means ‘like life’. Bionics can be defined as the application of functions of biological systems in the design and study of engineering systems rather than just the biological structure. Alternatively it can be simply called a combination of Biology and Electronics in Medicine.
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The Artificial Vital Organs and Medical Bionics Market worth has reached $18.50 billion 2016 and is projected to reach USD 29.12 Billion by 2021, at a CAGR of 9.5% during the forecast period from 2016 to 2021. North America has the largest artificial organ and bionics market of about 40% for this industry owing to the fact that a large section of population suffer from organ failures and damages as well as the growing awareness of prosthetics and much better reimbursement policies for these procedures. Asia Pacific has the most anticipated CAGR in the upcoming years according to the Artificial Organ and Bionics market analysis. While increase in chronic diseases is one of the factors, increase in public and private health care expenditure across urban and rural areas is another factor that contributes to the significant boost in the Artificial Organ and Bionics Market Industry Trends in Asia Pacific.
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The reason Global Artificial organ and Bionics Market has started flourishing is because of the obstacles faced during organ implants. Organ donors have considerably decreased in recent times and there are chances that the patient’s body rejects the transplanted organ. This could be due to the immune system reacting unfavorably which is why artificial organs are made of biomaterial. Organ implants for heart and kidney has a well established market at present while the ear(cochlear), limb, and cardiac bionics are the more developed than the rest.
Global Industry Analysis says the increasing awareness of various ailments and conditions in the public, the fact that early diagnosis can help cure the disease, awareness regarding the Artificial organs and Bionics Market Growth have had a positive impact on the market globally. Adding to these, the fact that the demand and supply ratio for patients needing transplants and organ donors is skewed has given the field a jump start in the market. Nevertheless the high expense associated with medical bionics act as an obstacle.
Artificial kidney mostly accounts for the largest market share due to increasing cases of hypertension, high blood sugar, injury, HIV etc. while artificial liver has been the fastest growing market in recent years. Brain bionics also contributes greatly due to the increasing neurological problems. Exoskeleton bionics is also witnessing a rapid increase due to wide applications in home healthcare, rescue, emergency response and patient rehabilitation. In addition to these spinal cord stimulators, deep brain stimulators and vagus nerve stimulators are some of the non invasive bionics which have a significant impact in the Artificial organ and Bionics market size. But the bionic limb that is mainly in use today requires an invasive surgery which means the patient also has electrodes implanted in his brain which helps the limb function properly.
By the time each one of us reaches 75, market research reports of Artificial Organ and Bionics market of today say that we’ll probably have a new hip and our eyes are laser cleaned of cataracts. But we won’t think of ourselves as bionic humans.That’s just how technology works. The post human future of humanity will not announce itself, it will just creep upon us in the form of Bionics.