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South Korea Artificial Organs and Bionics Market - Growth, Trends, and Forecasts (2020 - 2025)

  • ID: 5175729
  • Report
  • August 2020
  • Region: South Korea
  • 80 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2020
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FEATURED COMPANIES

  • Berlin Heart GmbH
  • Getinge AB
  • Medtronic PLC
  • Ossur
  • Terumo Corporation
  • MORE
The key factors that are responsible for the growth of the artificial organs and bionics market include rising geriatric population and technological advancements in the artificial organ and bionics market.

Another primary factor is the scarcity of donor organs. The lack of availability of potential organs to transplant has been a major issue. The demand for organ donors is ever-increasing and is very high compared to the actual supply. In 2019, 4,296 organ transplants were performed in Korea, of which 1,611 were donations from the deceased and 2,685 were living donations, as per the International Registry of Organ Donation and Transplantation (IRODaT). The number of patients waiting for a kidney and liver transplant has also increased across the years. This has been a major boost for the artificial organ bionics market, as the patients cannot afford to wait in the queue since the stakes are very high. Bionics and artificial organs are able to cater to the needs of those in need of organ transplantations and replacements. They can replicate the function of damaged organs.

Key Market Trends

Artificial Kidney Segment is Expected to Show Better Growth in the Forecast Years

Based on Artificial Organ, the market is segmented into Artificial Heart, Artificial Kidney, Artificial Lungs, Cochlear Implants and Other Organ Types. The high growth of the segment is attributed to the large patient population and the rising number of transplant surgeries. According to Korean Society for Transplantation, the average waiting periods of registrants on the waiting list that had not yet received a transplant (as of May 31, 2018) were 1,592 days for a kidney, 1,934 days for a liver, and 1,347 days for a heart in South Korea. Therefore, with the rising chronic diseases, and organ failures, the market is expected to witness significant growth in the forecast period.

Competitive Landscape

The majority of the artificial organs and bionics is being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. This has helped the market grow.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Berlin Heart GmbH
  • Getinge AB
  • Medtronic PLC
  • Ossur
  • Terumo Corporation
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Geriatric Population
4.2.2 Scarcity of Donor Organs
4.2.3 Technological Advancements in the Artificial Organ and Bionics
4.3 Market Restraints
4.3.1 Expensive Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Artificial Organ
5.1.1.1 Artificial Heart
5.1.1.2 Artificial Kidney
5.1.1.3 Cochlear Implants
5.1.1.4 Other Organ Types
5.1.2 Bionics
5.1.2.1 Ear Bionics
5.1.2.2 Orthopedic Bionic
5.1.2.3 Cardiac Bionics
5.1.2.4 Others

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Asahi Kasei Medical Co., Ltd
6.1.2 Berlin Heart GmbH
6.1.3 Boston Scientific Corporation
6.1.4 Ossur
6.1.5 Getinge AB
6.1.6 Medtronic PLC
6.1.7 Terumo Corporation

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Asahi Kasei Medical Co., Ltd
  • Berlin Heart GmbH
  • Boston Scientific Corporation
  • Ossur
  • Getinge AB
  • Medtronic PLC
  • Terumo Corporation
Note: Product cover images may vary from those shown
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