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France Artificial Organs and Bionics Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 90 Pages I Mordor Intelligence
The French artificial organs and bionics market is expected to witness a CAGR of around 5.2% during the forecast period.
The COVID-19 outbreak significantly upended solid organ transplant (SOT) practice across the country. While attempting to sustain life-saving transplant programs, such as heart, lung, and liver transplantations, transplant associations first advised delaying non-urgent renal transplantations. Thus, the pandemic caused a global decline in transplant activity that was unprecedented and rapid. Furthermore, it was difficult to determine the appropriate course of action for afflicted patients. As per the NIH's data published in January 2021, the mortality rate for the recipients of solid organ transplants in France was around 35% during the COVID-19 pandemic. However, post-covid, transplantation activities resumed as before. As a result, the market is expected to grow significantly over the forecast period.
The major factors that are responsible for the growth of the artificial organs and bionics market are the rising incidence of road accidents and technological advancements in the artificial organ and bionics market. For instance, according to the data from European Commission, in 2021, road fatalities in France increased by 16% compared to 2020. The demand for organ donors is ever-increasing and is extremely high compared to the actual supply. Bionics and artificial organs can cater to the needs of those who require organ transplantations and replacements. They can replicate the function of damaged organs. Another primary factor is the scarcity of donor organs. The lack of availability of potential organs to transplant has been a major issue.
Furthermore, artificial organs are being increasingly used in France, and companies are focusing more on developing them. For instance, in January 2021, Carmat, a French company, developed an artificial heart and received a CE mark for its device for sale in European countries. Approval of artificial heart systems increased the shares of Carmat to the highest in the last seven years. Carmat raised EUR 40.5 million (USD 42.77 million) in funding in April 2022. The funding was raised to finance the production of its Aeson artificial heart, which the company believes will provide an alternative treatment option for people with heart failure. With such new products entering France, the market studied is anticipated to witness strong growth over the forecast period.
However, the high cost of procedures is expected to impede the market's growth.
France Artificial Organs & Bionics Market Trends
Artificial Kidney Segment is Expected to Show Better Growth in the Forecast Period
The high growth of the segment is attributed to the large patient population and the rising number of transplant surgeries.
According to the 2022 data from European Hospital Georges Pompidou, since 1959, France has carried out nearly 90,000 kidney transplant operations, making kidney transplantation a treatment of choice for chronic kidney failure (CKD). In 2021, around 82,000 people were suffering from end-stage renal diseases in France, with a 2% annual increase in the incidence of renal diseases. This indicates that the segment is likely to witness strong growth over the forecast period.
According to the data published in the Eurotransplant Annual Report 2021, around 16,181 patients were waiting for a transplant on January 1, 2020, including 5,269 new patients on the waiting list compared to 4,557 new patients in 2013. The same source stated that in recent years, the median wait time between registration and transplantation has gradually increased and stands at 22.6 months. Hence, with such a large waiting list across the country, the segment is expected to grow significantly over the forecast period.
Thus, rising chronic diseases, organ failures, and initiatives by the government and various organizations are expected to drive the market in the forecast period.
Technological Advancements in Artificial Organs and Bionics are Expected to Propel the Market's Growth
Artificial organs have gained significant attention due to the advancements in technology taking place continuously. For instance, technologies such as 3-D printing and tissue engineering have come a long way to serve the purpose of artificial organs and bionics.
In France, artificial organs are becoming the center of attraction, with companies striving to develop new technologies and incorporate them into artificial organs. For instance, SPARTHA Medical is a BioTech/DeepTech firm resulting from the French National Institute of Health and Medical Research that became part of the first organ-on-chip industry in France. With such new companies coming into the artificial organ industry, the market studied is expected to witness strong growth in the coming years.
Additionally, the existence of numerous companies with a focus on bionics is likely to boost the market's growth. For instance, PIXIUM VISION, a France-based firm, uses its expertise in machine brain interface and artificial intelligence to build Bionic Vision Systems by leveraging rapid advancements in visual processing, microelectronics, optoelectronics, neurobiology, and intelligent software algorithms. Furthermore, in March 2022, Pixium Vision announced that the company was conducting two feasibility clinical trials with PRIMA in France and the United States for patients who have severe vision loss due to retinal degeneration brought on by the dry atrophic form of age-related macular degeneration (AMD), which has no known cure as of yet.
Hence, owing to the presence of such companies and a growing focus on developing artificial organs and bionics, the segment is expected to witness strong growth in the coming years.
France Artificial Organs & Bionics Market Competitor Analysis
The majority of the artificial organs and bionics are being manufactured by key global players. Market leaders with more funds for research and a better distribution system have established their position in the market, and this has helped the market grow. Some of the major companies involved in the market studied include Asahi Kasei Medical Co. Ltd, Baxter, Boston Scientific Corporation, Getinge AB, and Medtronic PLC, among others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 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 Incidence of Road Accidents
4.2.2 Scarcity of Donor Organs
4.2.3 Technological Advancements in Artificial Organs 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 (Market Size - Value in USD Million)
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 Vision Bionics
5.1.2.2 Ear Bionics
5.1.2.3 Orthopedic Bionics
5.1.2.4 Cardiac Bionics
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abiomed Inc.
6.1.2 Asahi Kasei Medical Co. Ltd
6.1.3 Boston Scientific Corporation
6.1.4 LivaNova PLC
6.1.5 Esko Bionics
6.1.6 Ossur
6.1.7 Getinge AB
6.1.8 Medtronic PLC
6.1.9 CARMAT
6.1.10 Tissium
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