Market Size of France Artificial Organs and Bionics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
France Artificial Organs & Bionics Market Analysis
The French artificial organs and bionics market is expected to witness a CAGR of around 5.2% during the forecast period.
The COVID-19 outbreak significantly upended solid organ transplant (SOT) practice across the country. While attempting to sustain life-saving transplant programs, such as heart, lung, and liver transplantations, transplant associations first advised delaying non-urgent renal transplantations. Thus, the pandemic caused a global decline in transplant activity that was unprecedented and rapid. Furthermore, it was difficult to determine the appropriate course of action for afflicted patients. As per the NIH's data published in January 2021, the mortality rate for the recipients of solid organ transplants in France was around 35% during the COVID-19 pandemic. However, post-covid, transplantation activities resumed as before. As a result, the market is expected to grow significantly over the forecast period.
The major factors that are responsible for the growth of the artificial organs and bionics market are the rising incidence of road accidents and technological advancements in the artificial organ and bionics market. For instance, according to the data from European Commission, in 2021, road fatalities in France increased by 16% compared to 2020. The demand for organ donors is ever-increasing and is extremely high compared to the actual supply. Bionics and artificial organs can cater to the needs of those who require organ transplantations and replacements. They can replicate the function of damaged organs. Another primary factor is the scarcity of donor organs. The lack of availability of potential organs to transplant has been a major issue.
Furthermore, artificial organs are being increasingly used in France, and companies are focusing more on developing them. For instance, in January 2021, Carmat, a French company, developed an artificial heart and received a CE mark for its device for sale in European countries. Approval of artificial heart systems increased the shares of Carmat to the highest in the last seven years. Carmat raised EUR 40.5 million (USD 42.77 million) in funding in April 2022. The funding was raised to finance the production of its Aeson artificial heart, which the company believes will provide an alternative treatment option for people with heart failure. With such new products entering France, the market studied is anticipated to witness strong growth over the forecast period.
However, the high cost of procedures is expected to impede the market's growth.
