Report Code: CMI50421

Published Date: June 2024

Pages: 320+

Category: India

Reports Description

India Artificial Organs and Bionics Market was valued at USD 590.6 Million in 2024 and is expected to reach USD 898.2 Million by 2033, at a CAGR of 9.3% during the forecast period 2024 – 2033.

Artificial organs and bionics are both fields of medical technology aimed at replacing or enhancing the function of organs or body parts. Bionics combines biology and electronics to create devices that can interact with the human body to restore or augment its capabilities.

India Artificial Organs and Bionics Market: Growth Factors

Escalating prevalence of cardiovascular diseases

The escalating prevalence of cardiovascular diseases (CVDs) in India has propelled the growth of the artificial organs and bionics market in the country. As cardiovascular ailments continue to rise, there is an increasing demand for innovative medical technologies to address the limitations of traditional treatments and enhance patient outcomes.

Artificial organs and bionics offer promising solutions for individuals suffering from severe heart conditions, providing alternatives such as artificial hearts, ventricular assist devices (VADs), and implantable cardioverter-defibrillators (ICDs). These advanced technologies not only offer life-saving interventions but also improve the quality of life for patients by restoring normal heart function or providing mechanical support.

Moreover, the scarcity of organ donors in India further underscores the significance of artificial organs and bionics as viable treatment options for those awaiting heart transplants. This growing demand is driving investments in research and development, leading to the development of more sophisticated and cost-effective artificial organ technologies tailored to the needs of the Indian population.

Consequently, the artificial organs and bionics market in India is witnessing significant expansion, with a focus on technological advancements, affordability, and accessibility, thereby offering hope to patients grappling with cardiovascular diseases across the nation.

Growing incidence of renal failure

The incidence of renal failure has been a significant driver in propelling the growth of the artificial organs and bionics market in India. Renal failure, whether acute or chronic, presents a pressing healthcare challenge in the country due to factors like a high prevalence of diabetes, and hypertension, and inadequate access to healthcare services in certain regions.

As renal failure progresses, patients often require renal replacement therapies such as dialysis or kidney transplantation to sustain life. However, the demand for donor kidneys far exceeds the supply, leading to long waiting lists for transplantation.

This scarcity has fuelled the need for alternative solutions, such as artificial kidneys or bioengineered renal tissues, which are being actively pursued by researchers and companies in the field of bionics. Moreover, the burden of renal failure extends beyond the individual level, impacting healthcare systems and the economy due to the costs associated with treatment and loss of productivity.

Therefore, the development and adoption of artificial organs and bionics, particularly for addressing renal failure, hold promise for alleviating the healthcare burden and improving the quality of life for patients in India.

India Artificial Organs and Bionics Market: Restraints

High cost of transplant

The high cost of transplantation procedures is a significant impediment to the growth of the artificial organs and bionics business in India. Transplant surgeries, whether for organs such as the heart, liver, or kidney, or complicated bionic implants, incur significant costs associated with surgical procedures, hospital stays, post-operative care, and lifelong medication.

The high prices of transplantation make these treatments unavailable to many people in India, where a large section of the population falls into the poor to middle-income range. Despite advances in medical science and the increased availability of artificial organs and bionics, the expensive cost of these life-saving procedures continues to be a key barrier for individuals seeking them.

Furthermore, the lack of broad insurance coverage for such operations exacerbates the problem, since patients are frequently forced to pay the full cost out of pocket. As a result, demand for artificial organs and bionics is predominantly driven by affluent individuals who can afford these costly therapies, limiting market growth and continuing socioeconomic inequities in access to healthcare technology in India.

Addressing the affordability of transplant procedures through initiatives such as government subsidies, increased insurance coverage, and the development of cost-effective medical technologies is critical to overcoming this barrier and fostering the growth of India’s artificial organs and bionics market.

India Artificial Organs and Bionics Market: Opportunities

Rising demand for organ transplants

The rising demand for organ transplants in India has spurred significant growth in the artificial organs and bionics market. With a growing number of patients suffering from organ failure and the limited availability of donor organs, there’s a pressing need for alternative solutions.

Artificial organs and bionics offer hope by providing viable alternatives to traditional transplants. These technologies encompass a wide range of innovations, including artificial hearts, kidneys, limbs, and sensory organs. As the number of patients awaiting transplants continues to increase, so does the demand for these advanced medical devices.

Additionally, advancements in technology have led to the development of more sophisticated and functional artificial organs, enhancing patient outcomes and quality of life. Moreover, the Indian government’s initiatives to promote healthcare infrastructure and increase access to advanced medical treatments further support the growth of the artificial organs and bionics market in the country.

As a result, India is witnessing a significant expansion in the availability and adoption of artificial organs and bionics, addressing the critical need for life-saving interventions in patients with organ failure.

India Artificial Organs and Bionics Market: Segmentation Analysis

India Artificial Organs and Bionics market is segmented by type, technology and region.  Based on type, the market is classified into artificial organs and artificial bionics. Artificial organs dominated the market in 2023 with a market share of 65.3% and are expected to keep their dominance during the forecast period 2024-2033.

The development and adoption of artificial organs are driving India’s artificial organs and bionics market in significant ways. With a rising prevalence of chronic diseases and organ failure cases, there’s an increasing demand for solutions that can replicate or replace the function of damaged or failing organs.

Artificial organs offer hope for patients awaiting transplants by providing temporary or permanent alternatives. Moreover, advancements in medical technology, such as 3D printing and tissue engineering, have enabled the production of more sophisticated and personalized artificial organs, improving their functionality and compatibility with the human body.

India, with its burgeoning healthcare sector and growing research and development capabilities, is poised to become a key player in this market.

Additionally, factors such as government initiatives to promote healthcare infrastructure, rising healthcare expenditure, and a growing awareness of the benefits of bionics and artificial organs among both healthcare professionals and the general population are further fuelling the growth of the market in India.

As a result, the artificial organs and bionics market in India is experiencing robust expansion, offering opportunities for innovation, investment, and improved patient outcomes.

Based on technology, the market is classified into mechanical bionics and electronic bionics. Urban dominated the market in 2023 with a market share of 55.9% and is expected to keep its dominance during the forecast period 2024-2033.

Mechanical bionics, with its innovative technologies and advancements, is a driving force behind India’s artificial organs and bionics market. As India embraces the era of technological integration in healthcare, mechanical bionics plays a pivotal role in offering solutions for organ failure and physical disabilities.

With a rapidly growing population and an increasing burden of chronic diseases, the demand for artificial organs and bionics is escalating. Mechanical bionics offers a spectrum of solutions, ranging from prosthetic limbs with advanced functionalities to artificial organs like heart valves and kidneys.

Moreover, the rise of innovative startups and collaborations between academia and industry is fostering a fertile ecosystem for the development and commercialization of mechanical bionics in India. This synergy is driving research, development, and adoption of cutting-edge technologies, further propelling the growth of the artificial organs and bionics market in the country.

As India continues to invest in healthcare infrastructure and promote technological innovation, mechanical bionics is poised to play an increasingly significant role in shaping the future of healthcare delivery and accessibility in the nation.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 590.6 Million
Projected Market Size in 2033 USD 898.2 Million
Market Size in 2023 USD 581.3 Million
CAGR Growth Rate 9.3% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Technology and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope India
Buying Options Request tailored purchasing options to fulfil your requirements for research.

India Artificial Organs and Bionics Market: Regional Analysis

India Artificial Organs and Bionics market is segmented into East India, West India, North India and South India. West India dominated the India Artificial Organs and Bionics market in 2023 with a market share of 41.9% and is expected to keep its dominance during the forecast period 2024-2033.

The West India region plays a pivotal role in propelling India’s artificial organs and bionics market forward through a combination of innovative research, technological advancements, and strategic collaborations. With major metropolitan hubs like Mumbai and Pune serving as epicentres for scientific research and development, West India boasts a robust ecosystem conducive to medical innovation.

Institutes such as the Indian Institute of Technology (IIT) Bombay and the National Institute of Technology (NIT) Goa are spearheading groundbreaking research in biomaterials, tissue engineering, and bioelectronics, laying the groundwork for cutting-edge artificial organ technologies.

Furthermore, the presence of world-class healthcare facilities and renowned medical professionals in cities like Mumbai fosters an environment conducive to clinical trials and the adoption of advanced medical devices.

Collaborations between academia, industry, and government entities in the region drive initiatives aimed at enhancing accessibility to artificial organs and bionic solutions, addressing healthcare challenges and improving patient outcomes.

India Artificial Organs and Bionics Market: Recent Developments

  • In April 2022, AIG Hospitals treated a 34-year-old man who suffered from an irregular heartbeat and had an implanted artificial heart pump known as a left ventricular assist device.
  • In January 2022, IIT-Kanpur launched a project to develop an advanced artificial heart. This program was launched in collaboration with a few hospitals in India and will be steered by a team of innovators with relevant experience selected under the mentorship of a task force comprising industry experts.

List of the prominent players in the India Artificial Organs and Bionics Market:

  • Medtronic
  • Abbott Laboratories
  • Boston Scientific Corporation
  • Cochlear Limited
  • Zimmer Biomet Holdings Inc.
  • Ekso Bionics Holdings Inc.
  • LivaNova PLC
  • Baxter International Inc.
  • Cyberonics Inc.
  • Bionic Yantra
  • Stryker Corporation
  • Touch Bionics Limited
  • Ottobock
  • SynCardia Systems LLC
  • Ewing Amputation Foundation
  • Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The India Artificial Organs and Bionics Market is segmented as follows:

By Type

  • Artificial Organs
  • Artificial Bionics

By Technology

  • Mechanical Bionics
  • Electronic Bionics

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 India Artificial Organs and Bionics Market, (2024 – 2033) (USD Million)
    • 2.2 India Artificial Organs and Bionics Market: snapshot
  • Chapter 3. India Artificial Organs and Bionics Market – Industry Analysis
    • 3.1 India Artificial Organs and Bionics Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Escalating prevalence of cardiovascular diseases
      • 3.2.2 Growing incidence of renal failure
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Type
      • 3.7.2 Market Attractiveness Analysis By Technology
  • Chapter 4. India Artificial Organs and Bionics Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 India Artificial Organs and Bionics Market: company market share, 2023
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. India Artificial Organs and Bionics Market – Type Analysis
    • 5.1 India Artificial Organs and Bionics Market Overview: By Type
      • 5.1.1 India Artificial Organs and Bionics Market Share, By Type, 2023 and 2033
    • 5.2 Artificial Organs
      • 5.2.1 India Artificial Organs and Bionics Market by Artificial Organs, 2024 – 2033 (USD Million)
    • 5.3 Artificial Bionics
      • 5.3.1 India Artificial Organs and Bionics Market by Artificial Bionics, 2024 – 2033 (USD Million)
  • Chapter 6. India Artificial Organs and Bionics Market – Technology Analysis
    • 6.1 India Artificial Organs and Bionics Market Overview: By Technology
      • 6.1.1 India Artificial Organs and Bionics Market Share, By Technology, 2023 and 2033
    • 6.2 Mechanical Bionics
      • 6.2.1 India Artificial Organs and Bionics Market by Mechanical Bionics, 2024 – 2033 (USD Million)
    • 6.3 Electronic Bionics
      • 6.3.1 India Artificial Organs and Bionics Market by Electronic Bionics, 2024 – 2033 (USD Million)
  • Chapter 7. India Artificial Organs and Bionics Market – Regional Analysis
    • 7.1 India Artificial Organs and Bionics Market Regional Overview
    • 7.2 India Artificial Organs and Bionics Market Share, by Region, 2023 & 2033 (USD Million)
  • Chapter 8. Company Profiles
    • 8.1 Medtronic
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Abbott Laboratories
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Boston Scientific Corporation
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Cochlear Limited
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Zimmer Biomet Holdings Inc.
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Ekso Bionics Holdings Inc.
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 LivaNova PLC
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Baxter International Inc.
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Cyberonics Inc.
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Bionic Yantra
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Stryker Corporation
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 Touch Bionics Limited
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 Ottobock
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments
    • 8.14 SynCardia Systems LLC
      • 8.14.1 Overview
      • 8.14.2 Financials
      • 8.14.3 Product Portfolio
      • 8.14.4 Business Strategy
      • 8.14.5 Recent Developments
    • 8.15 Ewing Amputation Foundation
      • 8.15.1 Overview
      • 8.15.2 Financials
      • 8.15.3 Product Portfolio
      • 8.15.4 Business Strategy
      • 8.15.5 Recent Developments
    • 8.16 Others.
      • 8.16.1 Overview
      • 8.16.2 Financials
      • 8.16.3 Product Portfolio
      • 8.16.4 Business Strategy
      • 8.16.5 Recent Developments
List Of Figures

Figures No 1 to 13

List Of Tables

Tables No 1 to 2

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2033

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2033
  • Market revenue estimates and forecasts up to 2033, by technology
  • Market revenue estimates and forecasts up to 2033, by application
  • Market revenue estimates and forecasts up to 2033, by type
  • Market revenue estimates and forecasts up to 2033, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Medtronic
  • Abbott Laboratories
  • Boston Scientific Corporation
  • Cochlear Limited
  • Zimmer Biomet Holdings Inc.
  • Ekso Bionics Holdings Inc.
  • LivaNova PLC
  • Baxter International Inc.
  • Cyberonics Inc.
  • Bionic Yantra
  • Stryker Corporation
  • Touch Bionics Limited
  • Ottobock
  • SynCardia Systems LLC
  • Ewing Amputation Foundation
  • Others

FAQs

The restraints of the India Artificial Organs and Bionics   market is high cost of transplant.

The major driver for the India Artificial Organs and Bionics market is escalating prevalence of cardiovascular diseases and growing incidence of renal failure.

The “Artificial Organs ” category dominated the market in 2023.

The key players in the market are Medtronic, Abbott Laboratories, Boston Scientific Corporation, Cochlear Limited, Zimmer Biomet Holdings Inc., Ekso Bionics Holdings Inc., LivaNova PLC, Baxter International Inc., Cyberonics Inc., Bionic Yantra, Stryker Corporation, Touch Bionics Limited , Ottobock, SynCardia Systems LLC, Ewing Amputation Foundation, Others.

The market is projected to grow at a CAGR of 9.3% during the forecast period, 2024-2033.

The India Artificial Organs and Bionics Market size was valued at USD 590.6 Million in 2024.

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