Need a report that reflects how COVID-19 has impacted this market and its growth?
The India artificial organs and bionics market is expected to register a CAGR of 6.8% during the forecast period (2022-2027).
The ongoing Covid-19 pandemic impacted the studied market significantly. During the initial phase of the pandemic due to the lockdowns and shutdowns, the market was impacted adversely. The number of transplants decreased during the initial phase of the pandemic. However, the adoption of cardiac bionics increased owing to the increasing cases of cardiovascular diseases in India. For instance, as per the article “A case of post-COVID-19 mucormycosis with permanent pacemaker posted for functional endoscopic sinus surgery: Anaesthetic challenges” published in October 2021, the researchers of Maharashtra, India successfully managed a patient with post-COVID-19 mucormycosis with a permanent pacemaker in-situ posted for functional endoscopic sinus surgery (FESS) under general anesthesia. Such adoptions increased during the pandemic. Thus, the pandemic is expected to have a considerable impact on the market studied.
Factors such as the rising incidence of organ failures, scarcity of organ donors, and technological advancements are anticipated to drive market growth over the forecast period. For instance, as per the article “Organ donation in India – There is light at the end of the tunnel” published in April 2022, it is estimated that almost 5 lakh Indians face organ failure every year, and yet less than 2%-3% of them receive a life-saving transplant. This burden of organ failure is anticipated to create opportunities for artificial organs and the bionics market in India. Thus, this is anticipated to drive artificial organs and bionics market growth in India over the forecast period.
Moreover, the adoption of artificial organs is increasing in the country. For instance, in October 2021, Kerala's first artificial heart implantation was done successfully on a 61-year-old woman, and the device implanted on her was HeartMate 2 (a second-generation ventricular assist device). Thus, such adoption and developments are anticipated to fuel market growth in the country.
Therefore, owing to the aforesaid factors the market studied is expected to witness growth over the forecast period. However, strict regulations on the products are expected to hinder market growth over the studied 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. These devices can replicate or augment the natural function of the organ. Bionics refers to the replacement or improvement of body parts by mechanical kinds. The India artificial organs and bionics market is segmented by Artificial Organ (Artificial Heart, Artificial Kidney, Artificial Lungs, Cochlear Implants and Other Organ Types) and Bionics (Vision Bionics, Ear Bionics, Orthopedic Bionic and Cardiac Bionics). The report offers the value (in USD million) for the above segments.
|By Artificial Organ|
|Other Organ Types|
Key Market Trends
Artificial Kidney Segment is Expected to Show Growth Over the Forecast Period
A wearable artificial kidney is a wearable dialysis machine. An individual with end-stage renal disease may use a wearable artificial kidney on a daily or even continuous basis. The increasing incidence and prevalence of renal failures in India are expected to drive the segment growth.
Kidney failure has become a burden in the country recently. As per the data published by Medindia in June 2022, almost 66% of kidney failure occurs due to hypertension or diabetes and there are nearly 7.85 million people suffering from chronic kidney failure in India. Additionally, as per the source mentioned above the incidence of kidney failure (or chronic kidney disease) has doubled over the past decade in the country. This shows a disease burden in the country. Thus, is expected to create demand for the adoption of artificial kidneys for patient survival, fueling the segment towards growth.
Furthermore, the article “The future of the artificial kidney” published in October 2021 stated that in India, diabetes mellitus and hypertension are the main causes of chronic kidney disease and end-stage renal disease (ESRD), which is on the rise. In India, hemodialysis is the most widely used renal replacement therapy (RRT). Additionally, the source mentioned above also stated that the field of the artificial kidney is seeing exciting new advances that are frequently parallel and connected. Thus, owing to the rise in ESRD coupled with the adoption of artificial kidneys in India and technological advancements, the segment is predicted to witness growth over the forecast period.
Therefore, owing to the aforesaid factors the segment is expected to witness growth over the forecast period.
To understand key trends, Download Sample Report
The market for artificial organs and bionics in India is moderately competitive. The major players in India's artificial organs and bionics market are Abiomed, Asahi Kasei Medical Co. Ltd, Baxter, Boston Scientific Corporation, Ekso Bionics Holdings Inc., Getinge AB, Medtronic, and Ossur, among others.
- In April 2022, a team of electrophysiologists at AIG Hospitals, Hyderabad treated a 34-year-old man who suffered from an irregular heartbeat and had an implanted artificial heart pump known as a left ventricular assist device.
- In January 2022, IIT-Kanpur launched a project to develop an advanced artificial heart. This program was launched in collaboration with a few hospitals in India and will be steered by a team of innovators with relevant experience selected under the mentorship of a task force comprising industry experts.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidence of Organ Failures
4.2.2 Scarcity of Organ Donors
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 High Cost of Procedure
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Artificial Organ
5.1.1 Artificial Heart
5.1.2 Artificial Kidney
5.1.3 Artificial Lungs
5.1.4 Cochlear Implants
5.1.5 Other Organ Types
5.2 By Bionics
5.2.1 Vision Bionics
5.2.2 Ear Bionics
5.2.3 Orthopedic Bionic
5.2.4 Cardiac Bionics
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.2 Asahi Kasei Medical Co., Ltd.
6.1.4 Boston Scientific Corporation
6.1.5 Ekso Bionics Holdings Inc.
6.1.6 Getinge AB
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The India Artificial Organs and Bionics Market market is studied from 2019 - 2027.
What is the growth rate of India Artificial Organs and Bionics Market?
The India Artificial Organs and Bionics Market is growing at a CAGR of 6.8% over the next 5 years.
Who are the key players in India Artificial Organs and Bionics Market?
Boston Scientific Corporation, Ossur, Medtronic , Baxter, Abiomed are the major companies operating in India Artificial Organs and Bionics Market.