Market Trends of France Artificial Organs and Bionics Industry
This section covers the major market trends shaping the France Artificial Organs & Bionics Market according to our research experts:
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.
