Wearable Artificial Organs Market Size, Share, Analysis 2030

Segments - Global Wearable Artificial Organs Market by Products (Kidney, Pancreas, Cochlear Implants, Exoskeleton, Bionic Limbs, Brain Bionics, and Vision Bionics), Technology (Mechanical and Electronic), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2028

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Vishal Golekar

Report Description

The global wearable artificial organs market is estimated to expand at a considerable CAGR during the forecast period, 2021 – 2028. Wearable artificial organs are machines that assist or replace human organs with damaged functioning ability. Wearable artificial organs are man-made devices that are engineered to replicate the essential functions of the organs.

These artificial organs are constructed on biophysical, mechanical, and electrical characteristics to support human organs. Extensive research is carried out in this field to foster the growth of the market. Rising population is fueling the number of people being diagnosed with organ malfunction, which in turn, is fueling the market.

Global Wearable Artificial Organs Market Taxonomy

Market Trends, Drivers, Restraints, and Opportunities

Gap between demand and supply of organ donors and the rising occurrence of organ failure are anticipated to drive the market.
Technological improvements and constant in investments in R&D of wearable artificial organs are driving the market growth.
The demand for wearable artificial organs is rising due to growing geriatric patient population who are susceptible to kidney failure.
The adoption of artificial organs is higher due to their lower cost than organ transplantation.
The demand for wearable artificial organs is gradually shifting from mechanical alternative towards realistic biological organ replacement, which is tissue-based and mimics natural physiological functions. This is an opportunity for manufacturers in the market.

Scope of Wearable Artificial Organs Market Report

The report on the global wearable artificial organs market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes	Details
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Global Wearable Artificial Organs Market Segment Insights

Cochlear implants segment to grow at a rapid pace

On the basis of products, the global wearable artificial organs market can be divided into kidney, pancreas, cochlear implants, exoskeleton, bionic limbs, brain bionics, and vision bionics.

The cochlear implants segment holds a significant share of the market and is anticipated to grow substantially during the forecast period owing to frequent product launches by manufacturers that are equipped with superior technology. New technologies in cochlear implants help patients hear better in a noisy environment, thus fueling artificial organs & bionics segment growth.

Electronic segment to hold a key share of the market

In terms of technology, the market can be bifurcated into mechanical and electronic. The electronic segment holds a major share of the market owing to technological progression and increasing acceptance of electronic wearable organs. The growth in the segment can be attributed to rising demand for wearable organs among amputees, as they are able to support muscle-nerve movement in functional parts of residual organs.

Asia Pacific holds a significant share of the global market

Based on regions, the global wearable artificial organs market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is estimated to grow substantially due to the presence of enormous patient pool and frequent occurrence of organ failure.

Moreover, rapid transformation in medical 3D printing and artificial intelligence (AI) are boosting the growth in the region. Initiatives by governments in the Internet of Things (IoT) and 3D printing are anticipated to create opportunities in the wearable artificial organ market.

Segments

The global wearable artificial organs market has been segmented on the basis of

Products

Kidney
Pancreas
Cochlear Implants
Exoskeleton
Bionic Limbs
Brain Bionics
Vision Bionics

Technology

Mechanical
Electronic

Regions

North America
Europe
Latin America
Asia Pacific
Middle East & Africa

Key Players

AWAK Technology
Cochlear Ltd
Ekso bionics
Lockheed Martin Corporation
MED-EL Medical Electronics
Nurotron Biotechnology Co. Ltd.
Össur
ReWalk Robotics
Rex Bionics Plc
Second Sight Medical Products Inc.

Competitive Landscape

Major players in the global wearable artificial organs market includes AWAK Technology, Cochlear Ltd, Ekso bionics, Lockheed Martin Corporation, MED-EL Medical Electronics, Nurotron Biotechnology Co. Ltd., Össur, ReWalk Robotics, Rex Bionics Plc, and Second Sight Medical Products, Inc. The market is highly fragmented. Companies adopt strategies such as investment in R&D, joint ventures, acquisitions, and product launches to increase their market share and market presence.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wearable Artificial Organs Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Wearable Artificial Organs Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Wearable Artificial Organs Market - Supply Chain
  4.5. Global Wearable Artificial Organs Market Forecast
     4.5.1. Wearable Artificial Organs Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Wearable Artificial Organs Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Wearable Artificial Organs Market Absolute $ Opportunity
5. Global Wearable Artificial Organs Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Wearable Artificial Organs Market Size and Volume Forecast by Types
     5.3.1. Kidney
     5.3.2. Pancreas
     5.3.3. Cochlear Implants
     5.3.4. Exoskeleton
     5.3.5. Bionic Limbs
     5.3.6. Brain Bionics
     5.3.7. Vision Bionics
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Wearable Artificial Organs Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Wearable Artificial Organs Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Wearable Artificial Organs Demand Share Forecast, 2019-2026
7. North America Wearable Artificial Organs Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Wearable Artificial Organs Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Wearable Artificial Organs Market Size and Volume Forecast by Types
     7.4.1. Kidney
     7.4.2. Pancreas
     7.4.3. Cochlear Implants
     7.4.4. Exoskeleton
     7.4.5. Bionic Limbs
     7.4.6. Brain Bionics
     7.4.7. Vision Bionics
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Wearable Artificial Organs Demand Share Forecast, 2019-2026
8. Latin America Wearable Artificial Organs Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Wearable Artificial Organs Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Wearable Artificial Organs Market Size and Volume Forecast by Types
     8.4.1. Kidney
     8.4.2. Pancreas
     8.4.3. Cochlear Implants
     8.4.4. Exoskeleton
     8.4.5. Bionic Limbs
     8.4.6. Brain Bionics
     8.4.7. Vision Bionics
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Wearable Artificial Organs Demand Share Forecast, 2019-2026
9. Europe Wearable Artificial Organs Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Wearable Artificial Organs Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Wearable Artificial Organs Market Size and Volume Forecast by Types
     9.4.1. Kidney
     9.4.2. Pancreas
     9.4.3. Cochlear Implants
     9.4.4. Exoskeleton
     9.4.5. Bionic Limbs
     9.4.6. Brain Bionics
     9.4.7. Vision Bionics
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Wearable Artificial Organs Demand Share Forecast, 2019-2026
10. Asia Pacific Wearable Artificial Organs Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Wearable Artificial Organs Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Wearable Artificial Organs Market Size and Volume Forecast by Types
     10.4.1. Kidney
     10.4.2. Pancreas
     10.4.3. Cochlear Implants
     10.4.4. Exoskeleton
     10.4.5. Bionic Limbs
     10.4.6. Brain Bionics
     10.4.7. Vision Bionics
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Wearable Artificial Organs Demand Share Forecast, 2019-2026
11. Middle East & Africa Wearable Artificial Organs Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Wearable Artificial Organs Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Wearable Artificial Organs Market Size and Volume Forecast by Types
     11.4.1. Kidney
     11.4.2. Pancreas
     11.4.3. Cochlear Implants
     11.4.4. Exoskeleton
     11.4.5. Bionic Limbs
     11.4.6. Brain Bionics
     11.4.7. Vision Bionics
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Wearable Artificial Organs Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Wearable Artificial Organs Market: Market Share Analysis
  12.2. Wearable Artificial Organs Distributors and Customers
  12.3. Wearable Artificial Organs Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. AWAK Technology
     12.4.2. Cochlear Ltd
     12.4.3. Ekso bionics
     12.4.4. Lockheed Martin Corporation
     12.4.5. MED-EL Medical Electronics
     12.4.6. Nurotron Biotechnology Co. Ltd.
     12.4.7. Össur
     12.4.8. ReWalk Robotics</