NOIDA, India,, April 6, 2021 / PRNewswire / – UnivDatos Market Insights has recently added a comprehensive overview of the market for wearable artificial organs to its huge database. The report on the market of wearable artificial organs was collected by collecting information data of different dynamics such as market drivers, constraints and opportunities. This innovative report uses several analyzes to gain a closer look at the wearable artificial organ market. The wearable artificial organ market report offers a detailed analysis of the latest industry developments and market trends affecting market growth. Furthermore, this repository of statistical market research examines and evaluates the wearable artificial organ market globally and regionally. The global market for artificial wearables CAGR growth is expected to be 16.9% from 2021 to 2027 $ 17,457.2 million until 2027.
The global market for wearable artificial organs is growing significantly due to the increasing frequency of organ failures and waiting times for organ transplants and the growing number of geriatric populations prone to kidney failure. The best and most cost-effective treatment option for end-stage organ failure remains organ donation and transplantation. Organ shortages, religion, underrepresented ethnic groups, consent problems, lack of awareness, and general ethical issues, however, present daunting obstacles to organ donation, making it difficult to recruit and allocate coils. With 113,000 patients in the U.S. in need of a transplant in 2019, and more than half (67,000) are ethnic minorities, the need for transplants far outweighs availability. Moreover, almost only 58% of the U.S. population is registered as a potential donor (145.5 million actual donors), making organ shortages a constant problem.
Moreover, an increasing number of cases of hearing impairment are expected to trigger the market. Nearly 466 million people worldwide have hearing impairment, of which 34 million are children. By 2050, it is estimated that over 900 million people will have debilitating hearing loss.
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The current impact of COVID-19 on global health is huge, but in addition, the global impact on the economy, employees and companies will be significant. For example, the impact is deeper in the lives of cochlear implants seeking habilitation and facing technical challenges with the implant. Many governments and special bodies have proposed canceling electoral procedures, including cochlear implantation, in response to the COVID 19 pandemic. initiating elective operations without compromising patient safety and treatment. KEM hospital-Pune, India have completed only 5 cochlear implant surgeries up to October 2020 in the middle of COVID-19.
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The report on the global market for wearable artificial organs is thoroughly studied from several aspects that would help stakeholders in making curative decisions.
According to technology, the market is primarily divided into
The electronic segment dominated according to the type of global wearable artificial organ market and will amount to 17.4% CAGR to reach $ 12,524.5 million by 2027.
According to the product, the market is primarily segmented into
- Cochlear implants
- Bionic limbs
- Brain Bionics
- Vision Bionics
Among product types, cochlear implants accounted for the largest share in 2020 and are expected to grow by 6.3% CAGR over the projected period 2021-2027. However, the kidney segment is expected to grow at the highest CAGR during the analyzed period, and is expected to account for almost 35.8% of revenue by 2027.
The geographical segmentation of the wearable artificial organ market includes:
- North America (United States,, Canada, and the rest North America)
- Europe (Germany,, UK,, Italy,, France,, Spain, and the rest Europe)
- Asia-Pacific (china,, Japan,, India, and the rest Asia-Pacific)
- The rest of the world
Based on the assessment, North America the region dominated the wearable artificial organ market with almost $ 2,703.1 million revenue in 2020. At the same time, Asia-Pacific the region is expected to grow significantly with a CAGR of 18.8% over the forecast period due to the growing elderly population and the modernization of health infrastructure.
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Major players targeting the market include
- Abbott Laboratories
- Cochlear Ltd.
- Denial A / S
- Exo Bionics
- ReWalk Robotics
- Medical devices of another kind
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating around the world. A specialist team of research analysts sheds light on various features such as global market competition, market share, the latest industry advances, innovative product launches, partnerships, mergers or acquisitions by leading companies in the market for artificial wearables. Major players were analyzed using research methodologies to gain insight into global competition.
Key issues addressed through this analytical market research report include:
- What are the latest trends, new patterns and technological advances in the wearable artificial organ market?
- What factors affect the market for wearable artificial organs during the forecast period?
- What are the global challenges, threats and risks in the wearable artificial organ market?
- What factors drive and constrain the wearable artificial organ market?
- What are the demanding global regions in the wearable artificial organ market?
- What will be the size of the global market in the coming years?
- What are the key market acquisition strategies and policies applied by global companies?
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UnivDatos Market Insights (UMI) is a passionate market research company and subsidiary of Universal Data Solutions. We believe in providing insight through market intelligence reports, customized business research, and primary research. Our research studies are spread across topics around the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, in-depth analyzes, and customized reports to help shape winning business strategies for our clients.
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