Wearable Artificial Organs Market Size Worth $17.7 Billion By 2027

Wearable Artificial Organs Market Growth & Trends

The global wearable artificial organs market size is expected to reach USD 17.7 billion by the year 2027, expanding at a CAGR of 16.2%, according to a new report by Grand View Research, Inc. Growing cases of transplant failure coupled with the increasing shortage of organ donors are creating massive growth opportunities for wearable artificial organs. Technological advancement in the field of 3D printing and artificial intelligence is creating new avenues for the market.

These devices are improving the patient’s quality of life by allowing them to continue their routine activities while undergoing therapy or dialysis. The market is expected to witness several product launches and FDA approvals. For instance, in December 2019, the FDA approved Tandem Diabetes Care’s Control-IQ artificial pancreas system. The device is an automatic insulin dosing system designed to deliver correction boluses. In August 2019, the FDA approved a MED-EL cochlear implant system for single-sided asymmetric hearing loss. This system is approved for use in children 5 years and older.

Increasing incidence of road accidents resulting in severe injuries also creates a demand for wearable artificial organs. According to the World Health Organization, approximately 1.4 million people die in a road accident every year, and around 20 to 50 million people suffer from non-fatal injuries.

 Request a free sample copy or view report summary: Wearable Artificial Organs Market Report

Wearable Artificial Organs Market Report Highlights

• Based on the product, the cochlear implant segment is dominating due to the rising aging population and increasing adoption of these devices

• The wearable kidney segment is expected to witness the fastest CAGR owing to the presence of various clinical trials and expected product launch in the coming years

• Based on technology, the electronic wearable organ segment dominates the market owing to the high adoption rate of these devices

• North America was the leading regional sector in 2019 and is expected to maintain its position during the forecast period, owing to the presence of various market leaders and continuous technological advancements.

Wearable Artificial Organs Market Segmentation

Grand View Research has segmented the global wearable artificial organs market on the basis of product, technology, and region

     Wearable Artificial Organs Product Outlook (Revenue, USD Million, 2016 - 2027)

• Kidney

• Pancreas

• Cochlear Implants

• Exoskeleton

• Bionic Limbs

• Brain Bionics

• Vision Bionics

   Wearable Artificial Organs Technology Outlook (Revenue, USD Million, 2016 - 2027)

• Mechanical

• Electronic

     Wearable Artificial Organs Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America

  • The U.S.

  • Canada

• Europe

  • Germany

  • The U.K.

  • France

  • Italy

  • Spain

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

  • Argentina

  • Colombia

• MEA

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players of Wearable Artificial Organs Market

• Medtronic

• AWAK Technology

• Second Sight Medical Products, Inc.

• Cochlear Ltd.

• Ekso Bionics

• MED-EL

• Medtronic

• Abbott Laboratories

• Boston Scientific

• HDT Global

• Touch Bionics, Inc.

• Neurotron Biotechnology

• Retina Implant AG

• ReWalk Robotics

• Rex Bionics Plc

• Suit X (U.S. Bionics Inc.)

• Tandem Diabetes and Lockheed Martin Corporation