Market Trends of Italy Artificial Organs & Bionic Implants Industry
Eye Bionics Segment is Estimated to Witness a Healthy Growth Over the Forecast Period.
A bionic eye is an electrical prosthesis surgically implanted into a human eye to allow light transduction (the change of light from the environment into impulses the brain can process) in people who have sustained severe damage to the retina. An increase in innovative interventions for blind patients and an increase in company alliances in the segment are expected to drive market growth. For instance, in November 2021, the first bionic eye implant in Italy was performed at the Gemelli in Rome. The implantation of an artificial retina is a historic step forward, a sort of "bionic eye" created at the Gemelli Polyclinic in Rome. The implant, as big as the tip of a pencil, was placed by a super expert in retinal surgery above the surface of the retina, and the three-dimensional electrodes of which it is composed, penetrate between the retinal cells, going to take the place of the photoreceptors and activating the ganglion cells with their impulses, which transmit information to the brain, making it travel along the optical pathways. Such innovation is expected to drive the market's growth over the forecast period.
Furthermore, with an increase in eye disease in Italy, the demand for eye bionics increases, leading to segmental growth. For instance, according to an article published by MDPI, in September 2021, the prevalence of cataracts, glaucoma, maculopathy, and retinopathy was 52.6% 5.3%, 5.6%, and 29.1%, respectively. Thus, with increased vision impairment, the demand for bionic eye increase, thereby driving segmental growth.
Hence, due to the increasing innovation for blind patients, the segment is anticipated to grow during the forecast period.
Artificial Kidney Segment is Estimated to hold a Significant Growth in the Market Over the Forecast Period.
The artificial kidney is designed to work like the natural kidney, filtering the blood and maintaining the body's fluid balance to avoid dialysis. An increase in kidney disease coupled with the aging population is expected to drive segmental growth. For instance, according to an article published by MDPI, in October 2022, the aging population inevitably increases age-related comorbidities, including chronic kidney disease (CKD). Italy's population has dropped below 59 million and the country is aging much faster than its European Union peers, according to the national statistical agency Istat data published, in December 2022. Thus, with an increase in the aging population and kidney disease, the demand for artificial kidneys is likely to increase thereby driving market growth over the forecast period.
Furthermore, according to the data updated by 'The Overpopulation Project' in February 2022, with almost a quarter of its population aged over 65 years or more, Italy has become one of the nations with the highest number of elderly people in the world. Similarly, according to the data published by the World Bank in 2021, in Italy, the population aged 65 years and above as a percentage of the total population increased to 23.61% in 2021 from the previous year. Thus, with an increase in the geriatric population, the likelihood of developing kidney disease increases thereby leading to segmental growth.
Hence, due to the increasing geriatric population coupled with the likelihood of developing kidney disease, the segment is anticipated to grow during the forecast period.
