Asia Pacific artificial organs and bionics market is expected to grow at a significant rate during the forecast period, 2024-2028. Rising cases of organ failures, along with scarcity of organ donors are anticipated to facilitate the growth of the market. For instance, according to the article titled “Organ donation in India – There is light at the end of the tunnel” published in 2022, it is projected that every year, approximately 5 lakh Indians face organ failures, still less than 2%-3% of them receive a life-saving transplant. Moreover, increasing cases of disabilities or road accidents which leads to amputations, are surging the demand for the replacement of the damaged part or organ, which, in turn, is bolstering the growth of the market. The rising adoption of advanced technologies such as 3D bioprinting, artificial intelligence, and others are propelling the growth of the Asia-pacific artificial organs and bionics market. However, compatibility issues between the organ donor and a transplant recipient are hampering the growth of the market. Besides, strict regulations associated with the artificial organs and bionics are expected to slow down the growth of the market.
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Asia Pacific artificial organs and bionics market is segmented into product, technology, material, end-user, company, and country. The product segment is further divided into artificial heart, artificial kidney, artificial thyroid gland, bionic limb, and others. Artificial kidneys held the dominant share in 2022, due to the increasing renal diseases, and failures, and growing elderly population. Based on country, Japan holds the maximum share of the market in the Asia Pacific region. This is attributed to the increase in the number of chronic diseases that lead to organ failure, rising older population, and increasing rate of road mishaps and resulting disabilities.
Major players in the artificial organs and bionics market of Asia Pacific include Medtronic plc, Getinge AB, Ekso Bionics Holdings Inc., Boston Scientific Corporation, ABIOMED, Rex Bionics Ltd, Össur hf, ReWalk Robotics, Cyberdyne Inc., and Obara Kogyo Inc. Ltd. Collaboration and mergers with medical schools or research organizations is one of the key strategies of the companies to sustain and maintain their position in such highly competitive environment.
Objective of the Study:
- To analyze and forecast the market size of Asia Pacific artificial organs and bionics market.
- To classify and forecast Asia Pacific artificial organs and bionics market based on product, technology, material, end-user, company and country.
- To identify drivers and challenges for Asia Pacific artificial organs and bionics market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Asia Pacific artificial organs and bionics market.
- To conduct pricing analysis for Asia Pacific artificial organs and bionics market.
- To identify and analyze the profile of leading players operating in Asia Pacific artificial organs and bionics market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of hospitals and surgical centers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the hospitals and surgical centers which could not be identified due to the limitations of secondary research. TechSci Research analyzed hospitals and surgical centers and presence of all major players across the globe.
TechSci Research calculated the market size of Asia Pacific artificial organs and bionics market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
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Key Target Audience:
- Hospitals, surgical centers, organ banks/distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to artificial organs and bionics
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as hospitals and surgical centers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Asia Pacific artificial organs and bionics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Asia Pacific Artificial Organs and Bionics Market, By Products:
- Artificial Heart
- Artificial Kidneys
- Bionic Limb
- Others
- Asia Pacific Artificial Organs and Bionics Market, By Technology:
- Suction Technology
- Implanted myoelectric sensor (IMES) technology
- Socket-Based Technology
- 3D Bioprinting
- Others
- Asia Pacific Artificial Organs and Bionics Market, By Material:
o Plastics
o Metal
o Polymer
- Asia Pacific Artificial Organs and Bionics Market, By End User:
- Hospitals
- Surgical Centers
- Others
- Asia Pacific Artificial Organs and Bionics Market, By Country:
- China
- India
- Japan
- South Korea
- Singapore
- Australia
- Vietnam
- Malaysia
- Indonesia
- Philippines
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Asia Pacific artificial organs and bionics market.
Table of content-
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
………… toc continued
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About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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