The major factors responsible for the growth of the artificial organs and bionics market includes rising incidence of organ failures and technological advancements in the Artificial Organ and Bionics.
Another primary factor is the scarcity of donor organs. The lack of availability of potential organs to transplant has been a major issue. The demand for organ donors is ever increasing, and is very high compared to the actual supply. According to Directorate General of Health Services, India, there are more than 200,000 people awaiting kidney transplantation in India, whereas, mere 15,000 get a kidney transplant. Advances in technology, and increased awareness of organ donation and transplantation have contributed to a high number of transplants. But, the wide gap between supply and demand continues. Bionics and artificial organs are able to cater to the needs of those in need of organ transplantations and replacements. However, other factors, such as the high cost of procedure is expected to restrain the market growth.
Key Market Trends
Artificial Kidney Segment is Expected to Show Better Growth in the Forecast Years
Based on Artificial Organ, the market is segmented into Artificial Heart, Artificial Kidney, Artificial Lungs, Cochlear Implants and Other Organ Types. The high growth of the segment is attributed to large patient population and rising number of transplant surgeries. According to Directorate General of Health Services, in India, around 1.8 lakh people suffer from renal failure every year. Furthermore, in India Ayushman Bharat Scheme was launched by the government, the scheme aims to provide coverage of INR 5 lakh per family annually. Under this scheme, more than 1,300 ailments are covered including heart diseases, kidney and liver disorders, and diabetes. Thus, rising chronic diseases, organ failures and initiatives by government and various organizations are expected to drive the market in the forecast period.
Competitive Landscape
The major players in India artificial organs and bionics market are Abiomed Inc, Asahi Kasei Medical Co. Ltd, Baxter International Inc., Boston Scientific Corporation, Ekso Bionics Holdings Inc., Getinge AB, Medtronic PLC and Ossur.
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Another primary factor is the scarcity of donor organs. The lack of availability of potential organs to transplant has been a major issue. The demand for organ donors is ever increasing, and is very high compared to the actual supply. According to Directorate General of Health Services, India, there are more than 200,000 people awaiting kidney transplantation in India, whereas, mere 15,000 get a kidney transplant. Advances in technology, and increased awareness of organ donation and transplantation have contributed to a high number of transplants. But, the wide gap between supply and demand continues. Bionics and artificial organs are able to cater to the needs of those in need of organ transplantations and replacements. However, other factors, such as the high cost of procedure is expected to restrain the market growth.
Key Market Trends
Artificial Kidney Segment is Expected to Show Better Growth in the Forecast Years
Based on Artificial Organ, the market is segmented into Artificial Heart, Artificial Kidney, Artificial Lungs, Cochlear Implants and Other Organ Types. The high growth of the segment is attributed to large patient population and rising number of transplant surgeries. According to Directorate General of Health Services, in India, around 1.8 lakh people suffer from renal failure every year. Furthermore, in India Ayushman Bharat Scheme was launched by the government, the scheme aims to provide coverage of INR 5 lakh per family annually. Under this scheme, more than 1,300 ailments are covered including heart diseases, kidney and liver disorders, and diabetes. Thus, rising chronic diseases, organ failures and initiatives by government and various organizations are expected to drive the market in the forecast period.
Competitive Landscape
The major players in India artificial organs and bionics market are Abiomed Inc, Asahi Kasei Medical Co. Ltd, Baxter International Inc., Boston Scientific Corporation, Ekso Bionics Holdings Inc., Getinge AB, Medtronic PLC and Ossur.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format.
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This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Abiomed Inc
- Asahi Kasei Medical Co., Ltd.
- Baxter International Inc.
- Boston Scientific Corporation
- Ekso Bionics Holdings Inc.
- Getinge AB
- Medtronic PLC
- Ossur
Methodology
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