The Argentina artificial organs & bionic implants market size is anticipated to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing incidence of disabilities and rising prevalence of organ failures.
Artificial organs and bionics are man-made devices that can be integrated in humans, to either replace a natural organ helping the patient to return to his normal life. Bionic implants refer to electronic or mechatronic parts, which are used to replace or support damaged body organs. Bionic implants improve body organ functioning of differently-abled person as well as treating imperfections in the body. These implantable devices encompass bones, tissues, skin, ceramics, metals, and plastics, among others. Bionic implants are majorly applicable in four divisions, such as vision, hearing, orthopaedics, and a small group of implants to aid the cardiac and neurological functions.
Artificial organs consist of complex medical devices that work on active mechanical or biochemical functions, such as heart, lung, kidney, liver, pancreas, and neurosensory organs. These can be surgically implanted either permanently or temporarily in the human body. The artificial organs are implemented in human bodies with living tissue to enable the original function of human body parts.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing aging population is one of the major factors propelling the market expansion during the forecast period.
- Rising number of road accidents is expected to create more demand for artificial organs & bionic implants in the projected timeline.
- Increasing geographical penetration, new products introduction, and enhancement of distribution channels are anticipated to propel the market growth during the forecast period.
- Growing incidences of eye diseases along with improving regulatory framework are estimated to drive the market expansion in the coming years.
- High cost of the organs and the procedures are major factors that can hamper the market growth.
- Consequences with the devices and limited specialists to conduct the procedures are anticipated to restrict the market growth.
- The COVID-19 pandemic has increased the burden on the healthcare sector. This, in turn, has encouraged government to increase the investment in the healthcare facilities, which has led to the incorporation of advanced machines, positively stimulating the market growth.
- Rising R&D investment and ongoing technological advancement in artificial organs & bionic implants are estimated to create opportunities for the market expansion during the forecast period.
Scope of the Report
The report on the Argentina artificial organs & bionic implants market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Argentina Artificial Organs & Bionic Implants Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Products (Artificial Organs [Artificial Heart, Artificial Kidney and Others] and Bionics [Vision Bionics, Orthopedic Bionics, Cardiac Bionics, and Others])
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Geographical Zone
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Argentina
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Zimmer Biomet, Boston Scientific Corporation, Medtronic plc, Ossur, and Otto Bock Holding GmbH & Co. KG
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Argentina Artificial Organs & Bionic Implants Market Segment Insights
Bionic segment is projected to account a large market share
On the basis products, the market is bifurcated into artificial organs and bionics. The artificial organs segment is sub-segmented into artificial heart, artificial kidney, and others. On the other hand, the bionics segment is divided into vision bionics, orthopedic bionics, cardiac bionics, and others. The bionic segment is expected to represent a key market share during the forecast period due to increasing incidence of cardiovascular diseases. Cardiovascular disease is the leading cause of death with around 28% in the country and ischemic heart disease is the condition with the highest morbidity and mortality, according to an article published by Rafael Diaz in 2019. Furthermore, the prevalence of risk factors such as overweight, obesity, and diabetes mellitus is anticipated to boost the market segment growth.
Segments
Segments Covered in the Report
The Argentina artificial organs & bionic implants market has been segmented on the basis of
Products
- Artificial Organs
- Artificial Heart
- Artificial Kidney
- Others
- Bionics
- Vision Bionics
- Orthopedic Bionics
- Cardiac Bionics
- others
Country
Key Players
- Zimmer Biomet
- Boston Scientific Corporation
- Medtronic plc
- Ossur
- Otto Bock Holding GmbH & Co. KG
Competitive Landscape
Key players competing in the Argentina artificial organs & bionic implants market include Zimmer Biomet, Boston Scientific Corporation, Medtronic plc, Ossur, and Otto Bock Holding GmbH & Co. KG.
Companies are engaging in partnerships, mergers, and acquisitions to expand their market share.
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