Market Size of South Africa Artificial Organs & Bionic Implants Industry
Study Period | 2021 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2021 - 2022 |
CAGR | 3.10 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South Africa Artificial Organs Bionic Implants Market Analysis
The South African artificial organs & bionic implants market is expected to register a CAGR of 3.1% over the forecast period.
Due to the COVID-19 pandemic, all elective and semi-urgent medical treatments and operations across South Africa were stopped during the period. During the initial phase of the pandemic, due to the high risk of COVID-19 infection, many live-related organ donations were paused. However, according to the report published by Nature Reviews Nephrology in August 2022, COVID-19-associated acute kidney injury occurred at a rate of 33.9%, of which 8.6% occurred in those receiving kidney replacement therapy. Hence, the COVID-19-affected population was prone to kidney failure that needed hemodialysis, positively impacting the growth of the market. The market under consideration is projected to attain its full potential throughout the forecast period due to the recovery of healthcare operations following the decrease in COVID-19 cases in South Africa.
The increased incidence of disabilities and organ failures, the scarcity of donor organs, and technological advancements in artificial organs and bionics are the major drivers of the growth of the market in this region. For instance, in August 2022, the department of health in South Africa urged people to donate their organs, as people were losing their lives due to the unavailability of organs. Moreover, the rising prevalence of renal disorders, acute renal failure, and the increase in organ failure due to the aging population are some of the factors driving the growth of the market. In addition, developments in bionic orthopedics, bionic eyes, and exoskeletons are fueling the growth of the market.
For instance, according to the article published in NCBI in August 2022, the prevalence of chronic kidney disease (CKD) in Africa is estimated at 11-16% in people at high risk and 3-6% in population-representative studies. This shows the significant number of cases of demand for hemodialysis, which is termed "artificial kidney." Thus, the market is expected to grow with the prevalence of renal diseases. Similarly, according to the report published by BMC Pediatrics in January 2022, the prevalence of hearing loss in the South African community is reported at 22 per 1000 preschool children. Hearing loss can be managed with cochlear implants. Hence, the significant number of hearing loss cases will increase the demand for cochlear implants, which is expected to increase the growth of the market during the study period. Furthermore, increasing R&D expenditure by innovators and generic players, technological advancements associated with bionic implants, and the rising aging population will fuel the growth of South African artificial organs and bionic implants.
However, expensive procedures and the risk of compatibility issues and malfunctions act as factors restraining the growth of the market.
South Africa Artificial Organs Bionic Implants Industry Segmentation
Artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. They are made by humans and implemented in human bodies with living tissue that can perform the original function of human body parts. Bionics refers to the replacement or improvement of body parts by mechanical ones.
The South African Artificial Organs & Bionic Implants Market is Segmented by Type (Artificial Organ (Artificial Heart, Artificial Kidney, Cochlear Implants, Other Organ Types) and Bionics (Ear Bionics, Orthopedic Bionics, Cardiac Bionics, Other Bionics)). The report offers the value in USD million for the above segments.
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South Africa Artificial Organs & Bionic Implants Market Size Summary
The South African artificial organs and bionic implants market is poised for growth, driven by the increasing incidence of disabilities and organ failures, alongside technological advancements in the field. The market is recovering from the disruptions caused by the COVID-19 pandemic, which had initially halted elective medical procedures and organ donations. The pandemic inadvertently highlighted the demand for artificial organs, particularly in cases of kidney failure, as COVID-19 was associated with acute kidney injuries. The scarcity of donor organs has further propelled the need for artificial solutions, with the aging population and rising prevalence of renal disorders contributing to market expansion. Innovations in bionic orthopedics, eyes, and exoskeletons are also playing a significant role in market development.
Despite the promising growth prospects, the market faces challenges such as the high cost of procedures and potential compatibility issues with bionic implants. The demand for artificial kidneys, essential for patients with kidney failure, is expected to rise, supported by the increasing number of elderly individuals susceptible to chronic diseases. The market is moderately competitive, with major players like Abbott, Berlin Heart, and Cochlear Ltd. leading the charge. Strategic acquisitions, such as Medtronic's purchase of Intersect ENT and Cochlear's acquisition of Oticon Medical, are enhancing the capabilities and offerings of these companies, further driving market growth.
South Africa 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 Increased Incidence of Disabilities, Organ Failures, and Scarcity of Donor Organs
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1.2.2 Technological Advancements in Artificial Organs and Bionics
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1.3 Market Restraints
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1.3.1 Expensive Procedures
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1.3.2 Risk of Compatibility Issues and Malfunctions
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1.4 Porter's Five Forces 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 (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Artificial Organ
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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 Cochlear Implants
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2.1.1.4 Other Organ Types
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2.1.2 Bionics
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2.1.2.1 Ear 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 Other Bionics
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South Africa Artificial Organs & Bionic Implants Market Size FAQs
What is the current South Africa Artificial Organs & Bionic Implants Market size?
The South Africa Artificial Organs & Bionic Implants Market is projected to register a CAGR of 3.10% during the forecast period (2024-2029)
Who are the key players in South Africa Artificial Organs & Bionic Implants Market?
Cochlear Ltd., Berlin Heart, Ossur, Medtronic and Sonova (Advanced Bionics AG) are the major companies operating in the South Africa Artificial Organs & Bionic Implants Market.