Market Size of Argentina Artificial Organs & Bionic Implants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.54 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Argentina Artificial Organs & Bionic Implants Market Analysis
The Argentina Artificial Organs & Bionic Implants Market is expected to grow with a CAGR of 11.54% in the forecast period. The growth of the market in the country has been attributed to the increasing incidence of disabilities and organ failures coupled with the aging population and the increasing technological advancements.
According to Ministerio de Transporte (Argentina), 2019, Argentina has registered 122,885 road traffic accidents of which nearly 39,700 occurred in the region of Buenos Aires and 11,585 road accidents in Santa Fe province. In addition, the majority of the road traffic accidents that occurred in the country in 2018 were attributed to collision or crash. Therefore the increasing number of road accidents is expected to create more demand for artificial organs & bionic implants.
In addition, the high cost of the organs and the procedures is a major constraint. The high cost of these organs is due to the production policies to address the patients, taxpayers, and medical technology corporations.
Argentina Artificial Organs & Bionic Implants Industry Segmentation
As per the scope of the report, artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. The Artificial Organs are made by a human and are implemented in human bodies with living tissue, it can able to perform the original function of human body parts. Bionics refers to the replacement or improvement of body parts by mechanical kinds.
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Argentina Artificial Organs & Bionic Implants Market Size Summary
The Argentina Artificial Organs & Bionic Implants Market is poised for significant expansion, driven by a combination of factors including the rising incidence of disabilities and organ failures, an aging population, and rapid technological advancements. The increasing number of road traffic accidents, particularly in regions like Buenos Aires and Santa Fe, is expected to further fuel demand for artificial organs and bionic implants. However, the market faces challenges due to the high costs associated with these organs and procedures, which are influenced by production policies that consider the interests of patients, taxpayers, and medical technology corporations. Despite these constraints, the market is anticipated to grow steadily, with cardiac bionics expected to experience a notable growth rate due to the prevalence of cardiovascular diseases and the expanding geriatric population in Argentina.
The competitive landscape of the Argentina Artificial Organs & Bionic Implants Market is moderately intense, with several major global players vying for market share. Companies such as Zimmer Biomet, Boston Scientific Corporation, Medtronic plc, Ossur, and Otto Bock Holding GmbH & Co. KG are actively engaging in strategies like product innovation, geographical expansion, and enhancement of distribution channels to strengthen their market positions. These enterprises are leveraging agreements, collaborative models, and business expansion efforts to navigate the competitive dynamics and capitalize on the growing demand for artificial organs and bionic implants in the country.
Argentina Artificial Organs & Bionic Implants Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Incidence of Disabilities and Organ Failures coupled with Rapidly Aging Population
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1.2.2 Rapid Technological Advancements
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1.3 Market Restraints
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1.3.1 High Cost of the Procedures
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Artificial Organs
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2.1.1.1 Artificial Heart
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2.1.1.2 Artificial Kidney
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2.1.1.3 Others
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2.1.2 Bionics
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2.1.2.1 Vision Bionics
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2.1.2.2 Orthopedic Bionic
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2.1.2.3 Cardiac Bionics
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2.1.2.4 Others
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Argentina Artificial Organs & Bionic Implants Market Size FAQs
What is the current Argentina Artificial Organs & Bionic Implants Market size?
The Argentina Artificial Organs & Bionic Implants Market is projected to register a CAGR of 11.54% during the forecast period (2024-2029)
Who are the key players in Argentina Artificial Organs & Bionic Implants Market?
Zimmer Biomet, Boston Scientific Corporation, Medtronic plc, Ossur and Otto Bock Holding GmbH & Co. KG are the major companies operating in the Argentina Artificial Organs & Bionic Implants Market.
