Market Trends of South Africa Artificial Organs & Bionic Implants Industry
This section covers the major market trends shaping the South Africa Artificial Organs Bionic Implants Market according to our research experts:
Artificial Kidney Segment Expected to Garner a Large Share of the Market
Artificial kidneys generally refer to hemodialysis or renal replacement therapies in use and under development. Hemodialysis removes waste products such as creatinine and urea and free water from the blood in cases of kidney failure. The artificial kidney, also called a dialysis machine, cleans the patient's blood. Dialysis is an essential function of the body, which involves filtration and excretion of metabolic waste products, regulation of necessary electrolytes and fluids, and stimulation of red blood cell production.
One major factor driving the growth of the market segment is the scarcity of donor organs. According to the department of health in South Africa, in August 2022, around 2,780 people were waiting for organ donation and transplants, which included kidneys, livers, hearts, and lungs, while about 189 people lost their lives while waiting for someone to donate them a life-saving organ during the same period. As the prevalence of kidney failure increases, the demand for artificial kidneys is also expected to increase. Moreover, according to Statistics South Africa, it is estimated that the growth rate for adults 60+ and older rose from 1.47% in 2021 to 2.11% in 2022. The rise in people above 60 makes them more susceptible to kidney failure due to various factors, like other chronic diseases and diminished organ functioning. Thus, the increasing prevalence of the aging population is likely to have a positive impact on the growth of the segment.
Cardiac Bionics is Expected to Exhibit the Highest CAGR in the Market Over the Forecast Period
The medical field of bionic cardiology investigates electronic bodily control, typically through the nervous system. It is a tactic to fight diseases by mimicking or altering biological regulation. Examples of bionic treatment for arrhythmias include selective vagal stimulation to control ventricular rate during atrial fibrillation, vagal stimulation to inhibit ischemia-related ventricular fibrillation, and reproduction of a neurally ordered heart rate.
The high burden of the elderly in the region and the increased risk of cardiovascular diseases with age are the key factors expected to boost the growth of the market segment over the forecast period. For instance, according to the report of Statistics South Africa for 2022, approximately 9.2% of people are 60 years of age or older, and the proportion of elderly persons aged 60 years and older in South Africa is expected to increase over time. Furthermore, according to the report published by the Sabinet African Journal in July 2021, South Africa has been experiencing an upsurge in the burden of cardiovascular diseases. Hence, an increase in the elderly population coupled with the risk of cardiovascular diseases is expected to raise the demand for cardiac bionics and boost the growth of the market segment over the forecast period.
