Market Size of India 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 | 6.80 % |
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?
India Artificial Organs & Bionics Market Analysis
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.
