Australia Artificial Organs and Bionics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Australia Artificial Organs and Bionics Market is segmented by Type (Artificial Organ and Bionics)

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 5.6 %

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Market Overview

The main factors driving the market growth include a rising number of chronic diseases, high incidence of road accidents, and technological advancements in the artificial organ and bionics market. According to the 2017-18 Australian Bureau of Statistics (ABS) National Health Survey (NHS), the prevalence of COPD was found to be in Australians aged 45 and over and around 464,000 people were being affected by it. Overall, the prevalence did not differ significantly between men and women, however for those aged 55–64, COPD was more prevalent in women compared with men. Therefore the increase in the cases of COPD leads to an increase in the demand for ECMO and ECCO2 removal procedures. Hence, the rising burden of chronic diseases is expected to fuel market growth over the forecast period.

Scope of the report

As per the scope of the report, Artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. The Artificial Organs are made by a human and are implemented in human bodies with living tissue. Bionics refers to replacement or improvement of body parts by mechanical kinds.

By Type
Artificial Organ
Artificial Heart
Artificial Kidney
Cochlear Implants
Other Organ Types
Bionics
Ear Bionics
Orthopedic Bionic
Cardiac Bionics
Others

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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 the large patient population and the rising number of transplant surgeries. Kidney transplantation is considered as the most effective treatment for end-stage kidney disease. 

According to the Australian Bureau of Statistics, in 2017-18, around 1.0% of Australians (237,800 people) had kidney disease. Furthermore, the prevalence of chronic diseases increases with age. In 2017-18, the proportion of people with kidney disease was less than 1% up to age 54, then increases to 2.4% for people aged 65-74 years and 4.6% of people aged 75 years and over. Thus, with the rising burden of chronic diseases, and organ failures, the market is expected to witness significant growth in the forecast period.

Australia Artificial Organs and Bionics Market 1.png

Competitive Landscape

The majority of the artificial organs and bionics is being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. This has helped the market grow.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Number of Chronic Diseases

      2. 4.2.2 Technological Advancements in the Artificial Organ and Bionics

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Procedure

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Artificial Organ

        1. 5.1.1.1 Artificial Heart

        2. 5.1.1.2 Artificial Kidney

        3. 5.1.1.3 Cochlear Implants

        4. 5.1.1.4 Other Organ Types

      2. 5.1.2 Bionics

        1. 5.1.2.1 Ear Bionics

        2. 5.1.2.2 Orthopedic Bionic

        3. 5.1.2.3 Cardiac Bionics

        4. 5.1.2.4 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abiomed Inc

      2. 6.1.2 LivaNova PLC

      3. 6.1.3 Esko Bionics

      4. 6.1.4 Ossur

      5. 6.1.5 Getinge AB

      6. 6.1.6 Medtronic PLC

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Australia Artificial Organs & Bionic Implants Market market is studied from 2018 - 2026.

The Australia Artificial Organs & Bionic Implants Market is growing at a CAGR of 5.6% over the next 5 years.

LivaNova PLC, Esko Bionics, Ossur, Getinge AB, Medtronic PLC are the major companies operating in Australia Artificial Organs & Bionic Implants Market.

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