The Asia Pacific Artificial Organ And Bionics Market would witness market growth of 11.0% CAGR during the forecast period (2022-2028).
Generally, bionic limbs function by sensing impulses sent by the patient's muscles. For instance, sensors would respond to elicit the proper movement when a person equips their bionic limb or flexes the muscles below or above the limb. Sensors are frequently used in bionic limbs in order to identify these muscle movements. The sensors in the bionic arm receive a signal to flex or move the limb. The majority of bionic limbs have processors within that can recognize muscle impulses. Implanting sensors into the residual muscles of the limb stump is necessary for some bionic limbs.
This kind of bionic limb is significantly more sophisticated and enables users to mentally manipulate the limb. Many bionic limbs are plug and play, indicating that they are simple to put on and take off and only utilized when necessary. Although many bionic limbs are custom-built to the users' muscles' specifications, bionic limbs do not require surgery to function. Users have complete control over this kind of prosthetic limb, which may adjust to how rapidly or slowly the muscles contract. The bionic limb can react more slowly when the muscles are lightly tight while it would react more swiftly when muscles are tightened quickly.
In regional countries, there is a number of fatalities caused by road accidents. According to the National Crime Records Bureau, the number of road accidents in India was recorded at 3,68,828 in 2020. Also, the mortality rate of people involved in these accidents remained at 0.45 in 2020. In addition, the number of people killed in traffic accidents is huge. 1,46,354 people died and 3,36,248 people were injured as a result of these road incidents in 2020. Maximum fatalities in traffic accidents were reported in the states of Uttar Pradesh (21,156 fatalities), Maharashtra (13,940 fatalities), and Madhya Pradesh (12,629 fatalities). These three states accounted for 14.5%, 9.5%, and 8.6% of all traffic fatalities, respectively, and collectively for 32.6% (47,725 out of 1,46,354) of all fatalities reported at the all-India level during 2020.
A few of these accidents caused major injuries to people. In many cases, the limbs of people were also damaged in a way that they were not able to function. However, due to the introduction of artificial bionics, the life quality of these people is becoming majorly enhanced. This factor is majorly increasing the demand for artificial limbs across the region. Hence, the growth of the regional artificial organ and bionics market is being propelled.
The China market dominated the Asia Pacific Artificial Organ And Bionics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,539.2 million by 2028. The Japan market is poised to grow at a CAGR of 10.4% during (2022 - 2028). Additionally, The India market would display a CAGR of 11.7% during (2022 - 2028).
Based on Product, the market is segmented into Artificial Organs (Kidney, Heart, Lungs, Liver, and Pancreas) and Artificial Bionics (Cochlear Implant, Bionic limbs, Exoskeleton, Vision bionics, and Brain bionics). Based on Technology, the market is segmented into Mechanical and Electronic. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Artificial Organ And Bionics Market is Projected to reach USD 39.5 Billion by 2028, at a CAGR of 9.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abiomed, Inc., Berlin Heart GmbH, Zimmer Biomet Holdings, Inc., Boston Scientific Corporation, Cochlear Ltd., Ekso Bionics Holdings, Inc., Jarvik Heart, Inc., Medtronic PLC, iWALKFree, Inc., and Edwards Lifesciences Corporation.
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