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

The market is segmented By Type (Artificial Organ and Bionics)

Market Snapshot

CAGR
Study Period:

2018 - 2026

Base Year:

2020

CAGR:

6.8 %

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Market Overview

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.

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. These devices are able to replicate or augment the natural function of the organ. Bionics refers to replacement or improvement of body parts by mechanical kinds.

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

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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 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.

India Artificial Organs and Bionics Market 1

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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.

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 Incidence of Organ Failures

      2. 4.2.2 Scarcity of Donor Organs

      3. 4.2.3 Technological Advancements

    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 Artificial Lungs

        4. 5.1.1.4 Cochlear Implants

        5. 5.1.1.5 Other Organ Types

      2. 5.1.2 Bionics

        1. 5.1.2.1 Vision Bionics

        2. 5.1.2.2 Ear Bionics

        3. 5.1.2.3 Orthopedic Bionic

        4. 5.1.2.4 Cardiac Bionics

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abiomed Inc

      2. 6.1.2 Asahi Kasei Medical Co., Ltd.

      3. 6.1.3 Baxter International Inc.

      4. 6.1.4 Boston Scientific Corporation

      5. 6.1.5 Ekso Bionics Holdings Inc.

      6. 6.1.6 Getinge AB

      7. 6.1.7 Medtronic PLC

      8. 6.1.8 Ossur

    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 India Artificial Organs and Bionics Market market is studied from 2018 - 2026.

The India Artificial Organs and Bionics Market is growing at a CAGR of 6.8% over the next 5 years.

  • Abiomed Inc
  • Baxter International Inc.
  • Boston Scientific Corporation
  • Medtronic PLC
  • Ossur

Are the major companies operating in India Artificial Organs and Bionics Market.

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