Italy Artificial Organs & Bionic Implants Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.00 % |
| 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?
Italy Artificial Organs & Bionic Implants Market Analysis
The Italy Artificial Organs & Bionic Implants Market is expected to register a CAGR of 2% during the forecast period.
The initial stages of the COVID-19 pandemic significantly impacted the Italy artificial organs & bionic implants market. For instance, according to an article published by the National Library of Medicine, in July 2022, during the first four weeks of the COVID-19 pandemic in Italy, there was a 25% reduction in the total organ procured. Less availability of ICU beds for both transplant recipients and donors negatively impacted total donation activity and ultimately resulted in fewer transplants. This led to a reduction in demand for artificial organs & bionic implants. However, most countries, including Italy, adopted vaccination prioritization processes, including priority for solid organ transplantation recipients to reduce the infection risk. For instance, according to the above source, transplantation rates returned to pre-pandemic levels, novel treatments were identified, and vaccination of solid organ transplantation recipients was prioritized. Approximately 80% of solid organ transplantation recipients in Italy received at least a vaccine dose by October 2021. Thus, with an increased initiative for the safety of solid organ transplantation recipients, the market started to witness a pre-pandemic level growth rate gradually.
The major factors driving the market growth are increased incidence of disabilities, organ failures and scarcity of donors, high road accidents leading to amputations, and technological advancements in artificial organs and bionics. For instance, in the article published by Istat on Road accidents in Italy, the number of accidents per 100 thousand inhabitants was higher than the national average (256.9) in 7 regions (from 473.6 in Liguria to 259.1 in Lombardy region), lower in Calabria (139.6), Molise (143.9) and Campania ( 160.7) in 2021. Thus, the high burden of road accidents in the country is expected to increase the chances of amputation, thereby fuelling the growth of the market studied over the forecast period.
Furthermore, strategic initiatives by key players such as various product development, mergers, acquisitions, and collaboration are likely to accelerate market growth. For instance, in September 2022, Pixium Vision SA announced the report of the completion of patient enrollment in the PRIMAvera pivotal trial in atrophic dry age-related macular degeneration (dry AMD), also known as Geographic Atrophy. The study was initiated in Q4 2020 in France, where the first patient was enrolled in December 2020. Pixium Vision has since established additional clinical sites and implanted patients in France, Germany, the UK, the Netherlands, and Italy. Such development is expected to drive the growth of the market in Italy over the forecast period.
However, expensive procedures and the risk of compatibility issues and malfunctions are expected to restrain the market growth.
Italy Artificial Organs & Bionic Implants Market Trends
Eye Bionics Segment is Estimated to Witness a Healthy Growth Over the Forecast Period.
A bionic eye is an electrical prosthesis surgically implanted into a human eye to allow light transduction (the change of light from the environment into impulses the brain can process) in people who have sustained severe damage to the retina. An increase in innovative interventions for blind patients and an increase in company alliances in the segment are expected to drive market growth. For instance, in November 2021, the first bionic eye implant in Italy was performed at the Gemelli in Rome. The implantation of an artificial retina is a historic step forward, a sort of "bionic eye" created at the Gemelli Polyclinic in Rome. The implant, as big as the tip of a pencil, was placed by a super expert in retinal surgery above the surface of the retina, and the three-dimensional electrodes of which it is composed, penetrate between the retinal cells, going to take the place of the photoreceptors and activating the ganglion cells with their impulses, which transmit information to the brain, making it travel along the optical pathways. Such innovation is expected to drive the market's growth over the forecast period.
Furthermore, with an increase in eye disease in Italy, the demand for eye bionics increases, leading to segmental growth. For instance, according to an article published by MDPI, in September 2021, the prevalence of cataracts, glaucoma, maculopathy, and retinopathy was 52.6% 5.3%, 5.6%, and 29.1%, respectively. Thus, with increased vision impairment, the demand for bionic eye increase, thereby driving segmental growth.
Hence, due to the increasing innovation for blind patients, the segment is anticipated to grow during the forecast period.
Artificial Kidney Segment is Estimated to hold a Significant Growth in the Market Over the Forecast Period.
The artificial kidney is designed to work like the natural kidney, filtering the blood and maintaining the body's fluid balance to avoid dialysis. An increase in kidney disease coupled with the aging population is expected to drive segmental growth. For instance, according to an article published by MDPI, in October 2022, the aging population inevitably increases age-related comorbidities, including chronic kidney disease (CKD). Italy's population has dropped below 59 million and the country is aging much faster than its European Union peers, according to the national statistical agency Istat data published, in December 2022. Thus, with an increase in the aging population and kidney disease, the demand for artificial kidneys is likely to increase thereby driving market growth over the forecast period.
Furthermore, according to the data updated by 'The Overpopulation Project' in February 2022, with almost a quarter of its population aged over 65 years or more, Italy has become one of the nations with the highest number of elderly people in the world. Similarly, according to the data published by the World Bank in 2021, in Italy, the population aged 65 years and above as a percentage of the total population increased to 23.61% in 2021 from the previous year. Thus, with an increase in the geriatric population, the likelihood of developing kidney disease increases thereby leading to segmental growth.
Hence, due to the increasing geriatric population coupled with the likelihood of developing kidney disease, the segment is anticipated to grow during the forecast period.
Italy Artificial Organs & Bionic Implants Industry Overview
The Italy artificial organs & bionic implants market is moderately competitive in nature due to the presence of companies operating in Italy. Some of the companies currently operating in the market are Abiomed Inc., LivaNova, PLC., Cochlear Ltd, Berlin Heart, and Medtronic, among others.
Italy Artificial Organs & Bionic Implants Market Leaders
Cochlear Ltd
Abiomed Inc.
Berlin Heart
Össur
LivaNova, PLC
*Disclaimer: Major Players sorted in no particular order
Italy Artificial Organs & Bionic Implants Market News
- In February 2023, Pixium Vision SA received a cash position of EUR 7.7 million in December 2022, providing an estimated cash runway through the end of Q2 2023. The increased cash outflow was primarily due to the enrolment and implantation of patients with the PRIMAvera pivotal trial for atrophic dry age-related macular degeneration (dry AMD) in Italy.
- In September 2022, the Alliance for Paired Kidney Donation launched a pilot program that would allow kidney exchanges for transplantation between the United States and Italy. The signing of the agreement between the Alliance for Paired Kidney Donation (APKD) and Centro Nazionali Trapianti (CNT), the organization which manages all transplantation activity in Italy allows for the first-ever exchange of living donor kidneys between Europe and the U.S.
Italy Artificial Organs & Bionic Implants Market Report - Table of Contents
1. INTRODUCTION
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 Increased Incidence of Disabilities, Organ Failures and Scarcity of Donors
4.2.2 High Incidence of Road Accidents Leading to Amputations
4.2.3 Technological Advancements in the Artificial Organ and Bionics
4.3 Market Restraints
4.3.1 Expensive Procedures
4.3.2 Risk of Compatibility Issues and Malfunctions
4.4 Porter's Five Force 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 Type
5.1.1 Artificial Organ
5.1.1.1 Artificial Heart
5.1.1.2 Artificial Kidney
5.1.1.3 Cochlear Implants
5.1.1.4 Other Organ Types
5.1.2 Bionics
5.1.2.1 Ear Bionics
5.1.2.2 Orthopedic Bionic
5.1.2.3 Cardiac Bionics
5.1.2.4 Eye Bionics
5.1.2.5 Others
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abiomed Inc.
6.1.2 Cochlear Ltd
6.1.3 Berlin Heart
6.1.4 Medtronic
6.1.5 Esko Bionics
6.1.6 Össur
6.1.7 LivaNova, PLC
6.1.8 Getinge AB
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Italy Artificial Organs & Bionic Implants Industry Segmentation
As per the scope of the report, artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. Artificial Organs are implemented in human bodies with living tissue, which can perform the original function of human body parts. Bionics refers to the replacement or improvement of body parts by mechanical kinds. The Italy Artificial Organs & Bionic Implants Market is Segmented By Type (Artificial Organs (Artificial Heart, Artificial Kidney, Cochlear Implants, and Other Organ Types), and Bionics(Ear Bionics, Orthopedic Bionic, Cardiac Bionics, Eye Bionics and Others)). The report offers the value (in USD million) for the above segments.
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Italy Artificial Organs & Bionic Implants Market Research FAQs
What is the current Italy Artificial Organs & Bionic Implants Market size?
The Italy Artificial Organs & Bionic Implants Market is projected to register a CAGR of 2% during the forecast period (2024-2029)
Who are the key players in Italy Artificial Organs & Bionic Implants Market?
Cochlear Ltd, Abiomed Inc., Berlin Heart, Össur and LivaNova, PLC are the major companies operating in the Italy Artificial Organs & Bionic Implants Market.
What years does this Italy Artificial Organs & Bionic Implants Market cover?
The report covers the Italy Artificial Organs & Bionic Implants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Italy Artificial Organs & Bionic Implants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Italy Artificial Organs & Bionic Implants Industry Report
Statistics for the 2024 Italy Artificial Organs & Bionic Implants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Italy Artificial Organs & Bionic Implants analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
