The size of the Asia-pacific Artificial Organs and Bionics Market is forecasted to worth USD 8.84 Billion by 2027. This market is estimated at USD 5.39 billion in 2022 and growing at a CAGR of 10.40% between 2022 to 2027.
The growing number of transplants and the rising population of individuals awaiting organ donors majorly propel the growth of the artificial organs and bionics market in the Asia-Pacific region. As chronic conditions like kidney, liver and heart-related issues become more prevalent, healthcare providers are increasingly adopting artificial organ systems to improve the lives of affected individuals. Lifestyle changes, including alcohol consumption and smoking, are major contributors to liver damage. In India, for instance, one out of every five adults suffer from liver issues, and liver-related problems account for approximately 3 percent of all deaths annually. Artificial liver treatments serve as a critical intervention for individuals experiencing acute chronic liver failure, acting as a bridge to liver transplantation and aiding in the recovery of liver function. The liver plays a pivotal role in controlling various physiological processes within the body. Moreover, artificial organs are employed to support individuals awaiting donor organs, significantly enhancing their life expectancy.
Factors such as the increasing incidence of road accidents and the occurrence of amputations due to various reasons across the APAC region further contribute to the growth of the APAC artificial organs and bionics market. The rise in heavy traffic in many areas has led to a corresponding increase in road accidents, resulting in fractures of limbs, spinal cord injuries, and other severe traumas. As a consequence of these accidents, some individuals require amputations. To support the functioning of the amputated limb and enhance the quality of life for these individuals, artificial organs and bionics are employed. This technology assists in restoring mobility and functionality, enabling affected individuals to lead fulfilling lives. Furthermore, the growing prevalence of diabetes contributes to the need for limb amputations among some individuals. By addressing these healthcare challenges, the adoption of artificial organs and bionics improves the overall well-being of patients, driving market growth.
The advancements in the development of artificial organs and bionics propel the growth of the artificial organs and bionics market in the APAC region. Researchers and manufacturers prioritize the creation of prosthetics to aid individuals who have suffered limb loss due to various reasons. These artificial organs are designed to seamlessly integrate with living tissue, allowing for natural movement and functionality. Emphasis is placed on utilizing durable materials that ensure longevity. Additionally, the incorporation of advanced technologies like artificial intelligence and machine learning in the development process of artificial organs contributes to market growth.
The high cost associated with artificial organs and bionics, shortage of skilled professionals, limited awareness, inadequate investment in advanced technologies and lengthy development timelines hampers the growth of the artificial organs and bionics market in the Asia-Pacific region. The placement of artificial organs can lead to biochemical effects, immunologic challenges, and the risk of infection at the insertion site. These factors collectively result negatively in the regional market growth.
This research report on the Asia Pacific Artificial Organs and Bionics Market has been segmented and sub-segmented into the following categories:
By Fixation Type:
The Asia Pacific region accounted for a substantial share of the worldwide market in 2022 and is expected to showcase the fastest CAGR during the forecast period owing to the advancements in the healthcare sector, increasing healthcare expenditure by the population, the growing number of awareness programs by the governmental organizations and the market participants to promote artificial organs.
China held a notable share of the APAC market in 2022 and is expected to grow at a healthy CAGR during the forecast period due to the presence of major key players and the establishment of numerous manufacturing facilities in the country. These players focus on developing cost-effective and high-quality artificial organs to meet the growing demand in the market. India and Japan are anticipated to account for a noteworthy share of the APAC market in the coming years. Both countries have witnessed an increase in the number of specialized transplanting hospitals catering to the patient population. The presence of a growing number of clinical trial centers and skilled professionals further supports market growth in these countries.
Companies that are dominating the Asia Pacific Artificial Organs and Bionics Market profiled in the report are Orthofix International N.V., Biomet, Inc., Medtronic, Inc., Cochlear Ltd., Second Sight Medical Products, Inc., Ossur, Ekso Bionics, St. Jude Medical, Inc., Baxter International, Inc., Abiomed Inc., Asahi Kasei Medical Co., Ltd, Berlin Heart GmbH, Boston Scientific Corporation, F Hoffman-La Roche Ltd, Worldheart Corporation, Thoratec Corporation, Gambro AB, Lifenet Health, Jarvik Heart Inc.,
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