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) Forecast, 2021-2028
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.
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 the 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 |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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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 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.
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 (000’ 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
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
- Mechanical
- Electronic
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
- 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.
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.
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