Wearable Organs Market Insights, Outlook and Forecast (2020 - 2027)

Market Size – USD 5.36 billion in 2019, Market Growth - CAGR of 17.6%, Market Trends –High prevalence of artificial kidney transplants & hearable devices.

The global Wearable Organs Market is expected to reach USD 19.74 Billion by 2027, according to a new report by Emergen Research. The growth of this market can be attributed to an increase in the deficiency of available organ donors, growth in the incidence of organ failures due to many chronic & life-threatening diseases, and rising practice of adopting artificial devices for organ efficacy. The enhancement in the genomics, surgical techniques, genetic engineering, and availability of the proper instruments for the transplant could increase the success rates of the operations, the advancements in the wearable organs technologies have helped reduce the rate of mortality causing from the organ failures.

The growth in North American region is mainly driven by the growing demand for the artificial organ transplantation and higher rate of affordability for the same. Additionally, advancements in the biotechnology, healthcare and surgical systems, higher expenditure in healthcare facilities by the government and availability of many prominent players in the market placed North America in the superior position in the wearable organs market.

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Key Highlights from the Report

The organ replication sub-segment is forecasted to retain its dominance in the market due to its higher applicability, extended investment, quality control, and higher revenue count. Many newer start-ups and established companies have been investing a handful of amount in the research & developments, especially in the organ replication and showcased patents that eventually can have the chance of replicating human organs.

The Electronic sub-segment had the highest market share of 68% in 2019 due to its increasing implementation and use cases that in turn, increased the applicability as well as the demand for the wearable organs.

More than 120,000 solid organs transplant are performed every year, and that is nearly just the 1/5th of the total patients who require an organ transplant. More and more countries around the world are incorporating wearable organ technology into their public healthcare systems and working with companies on developing new use cases and applicability of the same.

The Asia Pacific is predicted to witness a significant CAGR during the forecast period due to the higher inclination towards artificial organ transplantation in emerging economies like China and India, the rising cases of organ failures due to various chronic diseases and accidents, and improved healthcare infrastructures, among others.

In June 2020, Medtronic PLC launched a new version of the advanced and hybrid closed-loop artificial pancreas algorithm based insulin delivery system that help young adults and teenagers with type 1 diabetes.

Key participants include Abbott Laboratories, Medtronic PLC, Boston Scientific Corporation, Ekso Bionics Holdings Inc., Neurotron Biotechnology, Cochlear Ltd., HDT Global, Inc., AWAK Technology, ReWalk Robotics, and Second Sight Medical Products, Inc., among others.

Scope of the report:         

In addition, the study on the Wearable Organs market for the forecast period, 2020 – 2027 quantifies the share occupied by the prominent players of the industry and enlightens the business owners from the fast-growing investment pockets and competitive landscape. Furthermore, the industry is classified into various segments with a detailed assessment of each and every aspect such as gross margin, profits, import and export status and others. All vital statistics are presented with the help of charts, tables and graphic images, which can be easily incorporated into any business presentation.

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Product Outlook (Revenue, USD Billion; 2017-2027)

1. Kidney
2. Pancreas
3. Cochlear Implants
4. Exoskeleton
5. Bionic Limbs
6. Vision Bionics
7. Brain Bionics
8. Others

Technology Outlook (Revenue, USD Billion; 2017-2027)

1. Electronics
2. Mechanical

Application Outlook (Revenue, USD Billion; 2017-2027)

1. Organ Replication
2. Organ Efficacy
3. Clinical Testing

The market intelligence report further offers hard to find data derived from attractiveness analysis that narrates a lot about the products, regions and applications expected to generate more revenue. The research contains the details about the latest events in the Wearable Organs market including but not limited to the product launches, acquisition and mergers, collaborations and technology advancements with an aim to help business evangelists, product owners and marketing personnel understand what the future demands, customer preferences, consumption volume, production capacity and supply chain management of the Wearable Organs market will be like.

The global Wearable Organs market is geographically categorized into:

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa

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