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Global Wearable Artificial Organs Market to reach USD 17.9 billion by 2027

Global Wearable Artificial Organs Market Size study, by Product (Kidney, Pancreas, Cochlear Implant, Exoskeleton, Vision Bionics, Brain Bionics, Bionics Limbs), by Technology (Mechanical, Electronic) and Regional Forecasts 2020-2027

Product Code: HALMDAE_34304471
Publish Date: 3-12-2020
Page: 200

Global Wearable Artificial Organs Market is valued approximately at USD 5.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16.2% over the forecast period 2020-2027. The artificial organ is a type of engineered device incorporated into human living tissues to replenish the human organ. In general, artificial organs are human-made devices or machines that can be substituted for human organs that endure from the malfunctioning or loss of absolute operational ability. The artificial organs are usually developed from the particular human stem cells and later grown in laboratories. Due to these reasons, the artificial organs have been transforming the scenario of the medical world for the past few decades. Although, the developments and/or innovation of new artificial organs are still evolving, offering positive growth prospects to the global wearable artificial organ market in the near future. Moreover, increasing demand and supply gap of organ donors due to rising incidence of organ failure, along with the growing incidence of road accidents and permanent injuries are the few other factors responsible for the market growth over the forecast period. According to the Organdonar.gov, around 39,718 transplants were performed in 2019. Although, the demand and supply gap of organ donor causes 20 people to die each day waiting for an organ transplant. Thus, the rise in the gap between demand and supply of organ transplants may drive the adoption of wearable artificial organs all over the world. Furthermore, the rising number of FDA approved wearable artificial organs, and developing healthcare infrastructure is further accelerating the market growth worldwide. For instance, in August 2019, the FDA has approved the MED-EL Cochlear Implant System for asymmetric hearing loss and single-sided deafness. This implant system can be used among children aged 5 years and older. However, the high cost of wearable artificial organs and lack of awareness in developing countries is one of the major factors impeding the market growth over the forecast period of 2020-2027.

The regional analysis of the global Wearable Artificial Organs market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing research and development (R&D) expenditure and rapid FDA approvals of these devices, along with the large presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rising incidences of organ failure and growing healthcare budget & medical tourism would create lucrative growth prospects for the Wearable Artificial Organs market across the Asia-Pacific region.

Major market player included in this report are:
Medtronic plc
Awak Technologies PTE. Ltd.
Second Sight Medical Products Inc.
Cochlear Limited
EKSO Bionics
Abbott Laboratories
Boston Scientific Corporation
HDT Global, Inc.
Touch Bionic. Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Cochlear Implant
Vision Bionics
Brain Bionics
Bionics Limbs

By Technology:

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Wearable Artificial Organs Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Wearable Artificial Organs Market, by Region, 2018-2027 (USD Billion)
1.2.2. Wearable Artificial Organs Market, by Product, 2018-2027 (USD Billion)
1.2.3. Wearable Artificial Organs Market, by Technology, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Wearable Artificial Organs Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Wearable Artificial Organs Market Dynamics
3.1. Wearable Artificial Organs Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Wearable Artificial Organs Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Wearable Artificial Organs Market, by Product
5.1. Market Snapshot
5.2. Global Wearable Artificial Organs Market by Product, Performance – Potential Analysis
5.3. Global Wearable Artificial Organs Market Estimates & Forecasts by Product 2017-2027 (USD Billion)
5.4. Wearable Artificial Organs Market, Sub Segment Analysis
5.4.1. Kidney
5.4.2. Pancreas
5.4.3. Cochlear Implant
5.4.4. Exoskeleton
5.4.5. Vision Bionics
5.4.6. Brain Bionics
5.4.7. Bionics Limbs
Chapter 6. Global Wearable Artificial Organs Market, by Technology
6.1. Market Snapshot
6.2. Global Wearable Artificial Organs Market by Technology, Performance – Potential Analysis
6.3. Global Wearable Artificial Organs Market Estimates & Forecasts by Technology 2017-2027 (USD Billion)
6.4. Wearable Artificial Organs Market, Sub Segment Analysis
6.4.1. Mechanical
6.4.2. Electronic
Chapter 7. Global Wearable Artificial Organs Market, Regional Analysis
7.1. Wearable Artificial Organs Market, Regional Market Snapshot
7.2. North America Wearable Artificial Organs Market
7.2.1. U.S. Wearable Artificial Organs Market Product breakdown estimates & forecasts, 2017-2027 Technology breakdown estimates & forecasts, 2017-2027
7.2.2. Canada Wearable Artificial Organs Market
7.3. Europe Wearable Artificial Organs Market Snapshot
7.3.1. U.K. Wearable Artificial Organs Market
7.3.2. Germany Wearable Artificial Organs Market
7.3.3. France Wearable Artificial Organs Market
7.3.4. Spain Wearable Artificial Organs Market
7.3.5. Italy Wearable Artificial Organs Market
7.3.6. Rest of Europe Wearable Artificial Organs Market
7.4. Asia-Pacific Wearable Artificial Organs Market Snapshot
7.4.1. China Wearable Artificial Organs Market
7.4.2. India Wearable Artificial Organs Market
7.4.3. Japan Wearable Artificial Organs Market
7.4.4. Australia Wearable Artificial Organs Market
7.4.5. South Korea Wearable Artificial Organs Market
7.4.6. Rest of Asia Pacific Wearable Artificial Organs Market
7.5. Latin America Wearable Artificial Organs Market Snapshot
7.5.1. Brazil Wearable Artificial Organs Market
7.5.2. Mexico Wearable Artificial Organs Market
7.6. Rest of The World Wearable Artificial Organs Market
Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Medtronic plc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.2.2. Awak Technologies PtTE Ltd.
8.2.3. Second Sight Medical Products Inc.
8.2.4. Cochlear Limited
8.2.5. EKSO Bionics
8.2.6. MED-EL
8.2.7. Abbott Laboratories
8.2.8. Boston Scientific Corporation
8.2.9. HDT Global, Inc.
8.2.10. Touch Bionic. Inc.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

Primary Research Sources:

  • Interview conducted with raw material suppliers & manufacturers.
  • Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
  • Interview conducted with market players, industry experts, & independent consultants.
  • Secondary Research Sources:
  • Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
  • Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
  • Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).

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