The global wearable artificial organs market is projected to reach USD 17.87 billion by 2028, growing at a CAGR of 15.9%. Increasing prevalence of organ failure, technical advantages of artificial organs and rising demand and supply gap of organ donors are some of the factors driving the growth of the global wearable artificial organs market.
Adroit Market Research report on global Wearable artificial organs market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 to 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global Wearable artificial organs market have been studied in detail.
The challenge of treating diseased or failing human organs has been the driving force behind an increasing number of research programmes in recent years. Increased attention is being given to the potential of medical devices constructed from non-living materials as well as to applications utilizing living cells or tissues. Such products can serve as a bridge to transplant or serve as long-term chronic support systems. Artificial organs that can fully replace a failing organ are expected to gain traction in coming years.
The global wearable artificial organs market is categorized based on technology and product. On the basis of technology, the market is segmented into mechanical, and electronic. The electronic segment held the largest market share in 2020 due to hi-tech innovation and increasing acceptance of these devices.
North America dominated the market for wearable artificial organs in 2019, while Asia Pacific is set to grow at a highest CAGR due to the existence of a large patient pool and prevalence of organ failure. Key players of the global wearable artificial organs market include Medtronic, Second Sight Medical Products, Inc., AWAK Technology, Cochlear Ltd, MED-EL, Abbott Laboratories, Ekso bionics, Boston Scientific, Touch Bionics, Inc., HDT Global, among others.
Key segments of the global wearable artificial organs market
Technology Overview, 2018-2028 (USD Billion)
Product Overview, 2018-2028 (USD Billion)
- Cochlear implants
- Bionic Limbs
- Brain Bionics
- Vision Bionics
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa