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The artificial organs and bionic implants market share in Spain is expected to increase by USD 456.53 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.22%.
This artificial organ and bionic implants market in Spain research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the artificial organs and bionic implants market in Spain segmentation by product (artificial organs and bionic implants) and end-user (hospital and clinics, specialty centers, and others). The artificial organs and bionic implants market in Spain report also offers information on several market vendors, including Abiomed Inc., Asahi Kasei Corp., Boston Scientific Corp., Edwards Lifesciences Corp., Medtronic Plc, Ossur hf., Ottobock SE and Co. KGaA, Sonova Holding AG, Terumo Medical Corp., and Zimmer Biomet Holdings Inc. among others.
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The scarcity of organ donors is notably driving the artificial organs and bionic implants market growth in Spain, although factors such as being highly expensive may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the artificial organs and bionic implants industry in Spain. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Artificial Organs and Bionic Implants Market Driver in Spain
One of the key factors driving the artificial organs and bionic implants market growth in Spain is the scarcity of organ donors. Due to an increase in the prevalence of essential organ failure and better post-transplant outcomes, the demand for organ transplantation has risen quickly all over Spain in the last decade. However, the lack of sufficient organs for transplantation to fulfill current demand has resulted in catastrophic organ shortages. When compared to the real supply, the demand for organ donors is always growing. It is believed that just 10% of people who require organ transplantation are able to go through the procedure. The function of damaged organs can be replicated using bionics and artificial organs. The replication is nearly identical. This has provided a significant boost to the artificial organs and bionic implants market in Spain and is expected to continue the same in the forecast period since patients cannot afford to wait for long periods.
Key Artificial Organs and Bionic Implants Market Trend in Spain
Another key factor driving global stress testing solutions market growth is the increase in medical tourism. It is one of Europe's top five medical destinations. Medical tourism in Spain is booming because of sophisticated medical services. Medical tourism entails not only the treatment of disorders but also the complete restoration of one's health. Spain has gained a reputation for its various health resorts. Many of Spain's hospitals and clinics are situated in some of the country's most unusual places. The peaceful setting there is ideal for a relaxing recuperation after surgery. Medical travelers recovering from surgery may also sample some of Spain's best Mediterranean cuisine and diets. Patients from the US and the UK are predicted to save 30%-70% on medical bills in Spain. Such factors are expected to further drive the market growth throughout the forecast period.
Key Artificial Organs and Bionic Implants Market Challenge in Spain
One of the key challenges to the artificial organs and bionic implants market growth in Spain is the highly expensive treatment. When mobility and quality of life are taken into account, cost-effectiveness becomes debatable. The high cost of these organs is owing to manufacturing policies designed to benefit patients, taxpayers, and medical technology businesses. Every year, about 32,500 patients between the ages of 55 and 70 are in the last stages of cardiac disease and require a mechanical heart transplant. However, the procedure requiring the patient's written agreement restricts the number to 12,000. The cost of the organ, surgical operation, gadget, and ongoing patient observation is estimated to be between USD 100,000 and USD 300,000. Such factors are expected to negatively impact the market growth in the forecast period.
This artificial organ and bionic implants market in Spain analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the artificial organs and bionic implants market in Spain as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the artificial organs and bionic implants market in Spain during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the artificial organs and bionic implants market in Spain encompasses successful business strategies deployed by the key vendors. The artificial organs and bionic implants market in Spain is concentrated and the vendors are deploying growth strategies such as corporate expansion to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The artificial organs and bionic implants market in Spain forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the artificial organs and bionic implants market in Spain, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global healthcare equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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The artificial organs and bionic implants market share growth in Spain by the artificial organs segment will be significant during the forecast period. The significant increase in the demand for artificial organs will drive the market growth through this segment owing to factors such as an increase in medical tourism.
This report provides an accurate prediction of the contribution of all the segments to the growth of the artificial organs and bionic implants market size in Spain and actionable market insights on post COVID-19 impact on each segment.
Artificial Organs and Bionic Implants Market Scope in Spain |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.22% |
Market growth 2022-2026 |
$ 456.53 million |
Market structure |
Concentrated |
YoY growth (%) |
9.50 |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abiomed Inc., Asahi Kasei Corp., Boston Scientific Corp., Edwards Lifesciences Corp., Medtronic Plc, Ossur hf., Ottobock SE and Co. KGaA, Sonova Holding AG, Terumo Medical Corp., and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
***1. Executive Summary
**1.1 Market Overview
*Exhibit 01: Key Finding 1
*Exhibit 02: Key Finding 2
*Exhibit 03: Key Finding 5
*Exhibit 04: Key Finding 6
*Exhibit 05: Key Finding 7
***2. Market Landscape
**2.1 Market ecosystem
*2.1.1 Parent Market
*Exhibit 06: Parent market
*Exhibit 07: Market characteristics
**2.2 Value chain analysis
*Exhibit 08: Value chain analysis: Healthcare Equipment
*2.2.1 Research and development
*2.2.2 Inputs
*2.2.3 Operations
*2.2.4 Distribution
*2.2.5 Marketing and sales
*2.2.6 Post-sales and services
*2.2.7 Industry innovations
***3. Market Sizing
**3.1 Market definition
*Exhibit 09: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 10: Market segments
**3.3 Market size 2021
**3.4 Market outlook: Forecast for 2021 - 2026
*Exhibit 11: Spain - Market size and forecast 2021 - 2026 ($ million)
*Exhibit 12: Spain market: Year-over-year growth 2021 - 2026 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 13: Five forces analysis 2021 & 2026
**4.2 Bargaining power of buyers
*Exhibit 14: Bargaining power of buyers
**4.3 Bargaining power of suppliers
*Exhibit 15: Bargaining power of suppliers
**4.4 Threat of new entrants
*Exhibit 16: Threat of new entrants
**4.5 Threat of substitutes
*Exhibit 17: Threat of substitutes
**4.6 Threat of rivalry
*Exhibit 18: Threat of rivalry
**4.7 Market condition
*Exhibit 19: Market condition - Five forces 2021
***5.Market Segmentation by Product
**5.1 Market segments
*Exhibit 20: Product - Market share 2021-2026 (%)
**5.2 Comparison by Product
*Exhibit 21: Comparison by Product
**5.3 Artificial organs - Market size and forecast 2021-2026
*Exhibit 22: Artificial organs - Market size and forecast 2021-2026 ($ million)
*Exhibit 23: Artificial organs - Year-over-year growth 2021-2026 (%)
**5.4 Bionic implants - Market size and forecast 2021-2026
*Exhibit 24: Bionic implants - Market size and forecast 2021-2026 ($ million)
*Exhibit 25: Bionic implants - Year-over-year growth 2021-2026 (%)
**5.5 Market opportunity by Product
*Exhibit 26: Market opportunity by Product
***6 Market Segmentation by End-user
**6.1 Market segments
*Exhibit 27: End-user - Market share 2021-2026 (%)
**6.2 Comparison by End-user
*Exhibit 28: Comparison by End-user
**6.3 Hospital and clinics - Market size and forecast 2021-2026
*Exhibit 29: Hospital and clinics - Market size and forecast 2021-2026 ($ million)
*Exhibit 30: Hospital and clinics - Year-over-year growth 2021-2026 (%)
**6.4 Specialty centers - Market size and forecast 2021-2026
*Exhibit 31: Specialty centers - Market size and forecast 2021-2026 ($ million)
*Exhibit 32: Specialty centers - Year-over-year growth 2021-2026 (%)
**6.5 Others - Market size and forecast 2021-2026
*Exhibit 33: Others - Market size and forecast 2021-2026 ($ million)
*Exhibit 34: Others - Year-over-year growth 2021-2026 (%)
**6.6 Market opportunity by End-user
*Exhibit 35: Market opportunity by End-user
***7. Customer landscape
**7.1 Overview
*Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
*Exhibit 36: ?Customer landscape?
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Scarcity of organ donors
*8.1.2 Increase in the incidence of disabilities and organ failures
*8.1.3 Technological advancements in the country
**8.2 Market challenges
*8.2.1 Highly expensive
*8.2.2 Risk of device failure and its consequences
*8.2.3 Limited professionals to carry out the treatment
*Exhibit 37: Impact of drivers and challenges
**8.3 Market trends
*8.3.1 Increase in medical tourism
*8.3.2 High number of road accidents leading to amputations
*8.3.3 Growing demand for comprehensive medical care
***9. Vendor Landscape
**9.1 Overview
*Exhibit 38: Vendor landscape
**9.2 Vendor Disruption
*Exhibit 39: ?Landscape disruption?
*Exhibit 40: Industry risks
**9.3 Competitive Scenario
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 41: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 42: ?Market positioning of vendors?
**10.3 Abiomed Inc.
*Exhibit 43: Abiomed Inc. - Overview
*Exhibit 44: Abiomed Inc. - Business segments
*Exhibit 45: Abiomed Inc. - Key offerings
**10.4 Asahi Kasei Corp.
*Exhibit 46: Asahi Kasei Corp. - Overview
*Exhibit 47: Asahi Kasei Corp. - Business segments
*Exhibit 48: Asahi Kasei Corp. - Key offerings
*Exhibit 49: Asahi Kasei Corp. - Segment focus
**10.5 Boston Scientific Corp.
*Exhibit 50: Boston Scientific Corp. - Overview
*Exhibit 51: Boston Scientific Corp. - Business segments
*Exhibit 52: Boston Scientific Corp. - Key offerings
*Exhibit 53: Boston Scientific Corp. - Segment focus
**10.6 Edwards Lifesciences Corp.
*Exhibit 54: Edwards Lifesciences Corp. - Overview
*Exhibit 55: Edwards Lifesciences Corp. - Business segments
*Exhibit 56: Edwards Lifesciences Corp. - Key offerings
*Exhibit 57: Edwards Lifesciences Corp. - Segment focus
**10.7 Medtronic Plc
*Exhibit 58: Medtronic Plc - Overview
*Exhibit 59: Medtronic Plc - Business segments
*Exhibit 60: Medtronic Plc - Key offerings
*Exhibit 61: Medtronic Plc - Segment focus
*10.8 Ossur hf.
*Exhibit 62: Ossur hf. - Overview
*Exhibit 63: Ossur hf. - Business segments
*Exhibit 64: Ossur hf. – Key news
*Exhibit 65: Ossur hf. - Key offerings
*Exhibit 66: Ossur hf. - Segment focus
**10.9 Ottobock SE and Co. KGaA
*Exhibit 67: Ottobock SE and Co. KGaA - Overview
*Exhibit 68: Ottobock SE and Co. KGaA - Product and service
*Exhibit 69: Ottobock SE and Co. KGaA - Key offerings
**10.10 Sonova Holding AG
*Exhibit 70: Sonova Holding AG - Overview
*Exhibit 71: Sonova Holding AG - Business segments
*Exhibit 72: Sonova Holding AG - Key offerings
*Exhibit 73: Sonova Holding AG - Segment focus
**10.11 Terumo Medical Corp.
*Exhibit 74: Terumo Medical Corp. - Overview
*Exhibit 75: Terumo Medical Corp. - Product and service
*Exhibit 76: Terumo Medical Corp. – Key news
*Exhibit 77: Terumo Medical Corp. - Key offerings
**10.12 Zimmer Biomet Holdings Inc.
*Exhibit 78: Zimmer Biomet Holdings Inc. - Overview
*Exhibit 79: Zimmer Biomet Holdings Inc. - Business segments
*Exhibit 80: Zimmer Biomet Holdings Inc. - Key offerings
*Exhibit 81: Zimmer Biomet Holdings Inc. - Segment focus
***11. Appendix
**11.1 Scope of the report
*11.1.1 ????Market definition
*11.1.2 ????Objectives
*11.1.3 ????Notes and caveats
**11.2 Currency conversion rates for US$
*Exhibit 82: ?Currency conversion rates for US$?
**11.3 Research Methodology
*Exhibit 83: ?Research Methodology
*Exhibit 84: ??Validation techniques employed for market sizing?
*Exhibit 85: ??Information sources
**11.4 List of abbreviations
*Exhibit 86: List of abbreviations
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