Healthcare Industry Artificial Organ And Bionics Market Size 2020 | Page 2

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On the basis of technologies, the industry is bifurcated into mechanical bionics and electronic bionics. Rapid
technological advancements have led to the development of medical bionics that meets the challenges of
organ failure. Mechanical bionics is mostly employed in the development of orthopedic body parts.
As per regions, the global artificial organ and bionics market is categorized into Europe, Asia Pacific, North
America, and Rest of the World. North America led the industry in 2013. Factors that fuel this region are high
investments in research & development and technological advancements. Growing geriatric population, rising
cases of organ failure, and high incidence of accidents may contribute to regional growth over the forecast
period. However, the Asia Pacific market is poised to grow rapidly over the next couple of years. This industry
is driven by steady government support, medical tourism, and surging disposable incomes. Government
support has led to improvements in healthcare infrastructures.
Companies in the worldwide artificial organ and bionics market are Second Sight Medical Product Inc.;
Medtronic Co. Ltd.; World Heart Corporation; Thoratec Corporation; and Lifenet Health. Besides being
monopolistic, the global market is a highly competitive one too.
Researchers have begun examining using 3D printing in the development of artificial organs. Organovo, a U.S.
based biotech startup, focuses on 3D printing of human tissues. These are then sculpted in laye rs to form
organs. Nano Dimension, an Israeli 3D printing company in collaboration with Accellta has successfully mixed
human stem cells in printing inks. Accellta is an Israel based stem cell technology company. The striking
feature of the inkjet methods of Nano Dimension is the speed at which it prints the human tissues. While
most 3D printing techniques take hours to perform this task, Nano Dimension’s technology does it in a matter
of seconds.
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