The global Wearable Organs Market is expected to reach USD 19.74 Billion by 2027, according to a new report by Emergen Research. The development of new technologies such as 3D printing and tissue engineering is expected to create new opportunities for the growth of the wearable organs market. 3D printing technology can be used to produce artificial organs, which can be transplanted into patients suffering from organ failure. Tissue engineering is another promising technology that can be used to generate functional tissues and organs.
The application of these technologies in the field of Regenerative Medicine is gaining popularity as it helps in the regeneration and repair of damaged tissues and organs. The development of artificial organs and tissues using stem cells is a major area of research in this field. The use of 3D printing technology is also gaining popularity as it helps in the manufacturing of artificial organs with desired shapes and sizes.
Additionally, advancements in the biotechnology and nanotechnology industries are also positively impacting the demand for wearable organs globally. For instance, in June 2019, a team of researchers from the University of Manchester developed a 3D-printed implantable organ that can be controlled remotely using magnets. The team believes that their technology can be used to create other organs such as pancreas and lungs in the future. Such technological advancements are projected to fuel the demand for wearable organs in the coming years.
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According to WHO, in 2016, around 10% of the global population was suffering from some form of chronic kidney disease (CKD). Moreover, according to the U.S. Department of Health & Human Services, in 2017, around 36,000 people were waiting for kidney transplants in the U.S. and only 17,000 transplants were performed. Thus, the increasing number of organ failures is expected to drive the growth of the wearable organs market over the forecast period.
Some Key Highlights from the Report
- In June 2020, Medtronic PLC launched its HeartLogic Heart Failure Monitor wearable device. The device is based on the companies proprietary algorithm and features an advanced signal processing architecture that analyzes multiple physiologic signals to detect early signs of heart failure.
- On the basis of type, the market is bifurcated into artificial heart, artificial kidney, artificial pancreas, and others. The artificial heart segment held the largest market share in 2019 and is expected to grow at the highest CAGR over the forecast period. This growth is attributed to the increasing number of cardiovascular diseases globally.
- On the basis of application, the Wearable Organs Market is segmented into therapeutic and diagnostic. The therapeutic segment held the largest market share in 2019 and is expected to grow at the highest CAGR over the forecast period. This growth is attributed to the increasing number of organ failures globally and the need for organ transplantation.
- On the basis of end-use, the Wearable Organs Market is segmented into hospitals and clinics, research institutes, and others. The hospitals and clinics segment held the largest market share in 2019 and is expected to grow at the highest CAGR over the forecast period. This growth is attributed to the increasing number of organ failures globally and the need for organ transplantation.
- On the basis of region, the Wearable Organs Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the largest market share in 2019 and is expected to grow at the highest CAGR over the forecast period. This growth is attributed to the increasing number of organ failures in the region and the need for transplantation.
- 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.
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For the purpose of this report, Emergen Research have segmented the global Wearable Organs Market on the basis of product, technology, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Kidney
- Pancreas
- Cochlear Implants
- Exoskeleton
- Bionic Limbs
- Vision Bionics
- Brain Bionics
- Others
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Electronics
- Mechanical
Application Outlook (Revenue, USD Billion; 2017-2027)
- Organ Replication
- Organ Efficacy
- Clinical Testing
Regional Outlook (Revenue, USD Billion; 2019–2030)
-
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of Middle East & Africa
- North America
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