LAMEA Artificial Organ And Bionics Market Size, Share & Industry Trends Analysis Report By Product (Artificial Organs and Artificial Bionics), By Technology (Mechanical and Electronic), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Artificial Organ And Bionics Market would witness market growth of 14.3% CAGR during the forecast period (2022-2028).
An artificial organ is a man-made device or tissue that is implanted or integrated into a person, suffering from living tissue, to replace a natural organ, to replicate or augment a certain function or function so the patient can get back to their normal life as soon as feasible. It is not necessary for the substituted function to be connected to life support, though it sometimes is. For instance, artificial organs could also include replacement joints and bones, like those used in hip replacements. The requirement that the device should not be permanently connected to a stationary power source or other stationary resources, such as filters or chemical processing units, is implied by the term.
The UAE possesses a robust healthcare infrastructure as one of the Middle East's most economically advanced and diverse marketplaces. The government of the UAE has made building a top-notch healthcare infrastructure a primary priority, and as a result, the industry has developed and grown tremendously over the past few years. Following the COVID-19 outbreak in January 2020, the UAE government moved swiftly to implement preventative health measures. In terms of its COVID-19 reaction, the UAE was recognized as one of the top countries and as the highest in the Arab world due to the tenacious efforts of its leadership.
The UAE's healthcare industry has grown to accommodate both the country's population's changing requirements and its aspiration to establish itself as a regional center for medical tourism. The UAE has increased its dedication to investing in healthcare as a result of various disorders and diseases in people across the country. According to the International Trade Organization, one in five UAE individuals is obese, and a third of the population has diabetes. These populations, underpinned by relatively high-income levels, continue to seek higher quality healthcare as the incidence of lifestyle diseases rises. To meet this demand, the government has focused on building advanced healthcare infrastructure.
The Brazil market dominated the LAMEA Artificial Organ And Bionics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $577 million by 2028. The Argentina market is estimated to grow at a CAGR of 14.9% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 14% during (2022 - 2028).
Based on Product, the market is segmented into Artificial Organs (Kidney, Heart, Lungs, Liver, and Pancreas) and Artificial Bionics (Cochlear Implant, Bionic limbs, Exoskeleton, Vision bionics, and Brain bionics). Based on Technology, the market is segmented into Mechanical and Electronic. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abiomed, Inc., Berlin Heart GmbH, Zimmer Biomet Holdings, Inc., Boston Scientific Corporation, Cochlear Ltd., Ekso Bionics Holdings, Inc., Jarvik Heart, Inc., Medtronic PLC, iWALKFree, Inc., and Edwards Lifesciences Corporation.
Scope of the Study
Market Segments Covered in the Report:
- Artificial Organs
- Artificial Bionics
- Cochlear Implant
- Bionic limbs
- Vision bionics
- Brain bionics
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Abiomed, Inc.
- Berlin Heart GmbH
- Zimmer Biomet Holdings, Inc.
- Boston Scientific Corporation
- Cochlear Ltd.
- Ekso Bionics Holdings, Inc.
- Jarvik Heart, Inc.
- Medtronic PLC
- iWALKFree, Inc.
- Edwards Lifesciences Corporation
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