The Chile Artificial Organs & Bionic Implants Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 11.49% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rising demand for organ donors.
Artificial organs and Bionic implants are reconstructive surgery or devices that are specially made to embed in the human body to imitate the functioning of the original organ. The significant part of such implants is for them to work accurately such as normal organ without any disruption.
Extreme shock, the deficit of blood, medication mistreat, and additional serious illnesses are some of the the main reasons behind the failure of the organ. Likewise, lifestyle complaints such as the necessity to smoke, liquor use, and harmful nutritional behavior are some causes of organ malfunction.
As per an article by Lycia Tramujas Vasconcellos Neumann distributed in 2018, the populace in Chile is aging at a high speed with an expected 64 million seniors living in the country by 2050.
The expanding demand for kidney, liver, heart, lungs, and, transplantation is adding to the development of the sector. To transplant a kidney, the standard mean waiting period is 5 years, in the US. While on holding up records, a ton of issues such as blood category, body dimensions, the seriousness of the complaint, and the remoteness from the donor can create challenges for the market.
Advancements in the field of 3D bio printing have been confirmed to be vital in organ transplanting, as it decreases the case of organ refusal.
Market Trends, Drivers, Restraints, and Opportunities
-
Increasing cases of accidents and injuries are important factors is expected to contribute to the growth of the market during the forecast period.
-
The development in medical care and the accessibility to sophisticated artificial support arrangements is estimated to support the demand for artificial organs and bionics.
-
Rising geriatric population is expected to spur the market growth.
-
Rapid adoption of technological advancements in the field of healthcare is fueling the growth of the market growth
-
Rising lifestyle disorders and consumption of drug or alcohol are key factors that can spur the market growth.
-
An improved regulatory environment and faster approval process is expected to foster the growth of the market.
-
Better services and improve existing procedures is expected to contribute to the growth of the market during the forecast period.
-
High cost of the procedure of artificial organs & bionic implants can hinder the growth of the market.
-
Government initiatives to control the chronicle diseases and policies in favor of the industry is estimated to drive the market growth.
Scope of the Report
The report on the Chile 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.
|
Attributes
|
Details
|
|
Report Title
|
Artificial organs & bionic implants Market - Chile Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Products (Artificial Organs [Artificial Heart, Artificial Kidney, and Others] and Bionics [Vision Bionics, Orthopedic Bionic, Cardiac Bionics and Others]
|
|
Country Scope
|
Chile
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
Zimmer Biomet; Medtronic plc; Boston Scientific Corporation; Terumo Corporation and Otto Bock Holding GmbH & Co. KG.
|
Artificial Organs & Bionic Implants Market Segment Insights
Bionics segment is expected to grow at a rapid pace
Based on products, the market is divided into artificial organs and bionics. The artificial organs segment is further classified as artificial heart, artificial kidney, and others. The bionics segment is further segmented into vision bionics, orthopedics bionic, cardiac bionics and others. The cardiac bionics segment is estimated to account for a significant share of the market owing to the prevalence of cardiovascular diseases and increasing geriatric population in the country. Bionic cardiology is anticipated to advance the treatment for untreatable infections and can motivate more intricate applications in the coming years.
Segments
The Chile artificial organs & bionic implants market has been segmented on the basis of
Products
- Artificial Organs
- Artificial Heart
- Artificial Kidney
- Others
- Bionics
- Vision Bionics
- Orthopedic Bionic
- Cardiac Bionics
- Others
Country
Key Players
- Zimmer Biomet
- Medtronic plc
- Boston Scientific Corporation
- Terumo Corporation
- Otto Bock Holding GmbH & Co. KG
Competitive Landscape
Key players competing in the Chile artificial organs & bionic implants market are Zimmer Biomet; Medtronic plc; Boston Scientific Corporation; Terumo Corporation and Otto Bock Holding GmbH & Co. KG.
In February 2020, Ekso Bionics Holdings, Inc. worked together with Kindred Healthcare, LLC to pilot EksoNR - a robotic exoskeleton, in their long-term acute care hospitals.
In February 2018, A joint advancement understanding for a stomach aortic aneurysm stent graft has been finished up between Jikei University School of Medicine and Asahi Kasei Corp.
In January 2018, Boston Scientific got a FDA endorsement for Spectra WaveWriterT Spinal Cord Stimulator System.
Request For Customization
Enquiry Before Buying
Speak With Analyst
