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South Africa Artificial Organs & Bionic Implants Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 71 Pages I Mordor Intelligence
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 Market Trends
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.
South Africa Artificial Organs Bionic Implants Market Competitor Analysis
The South African artificial organs and bionic implants market is moderately competitive and consists of several major players. Some companies currently dominating the market are Abbott, Berlin Heart, Cochlear Ltd, Ossur, Sonova (Advanced Bionics AG), Abiomed Inc., Medtronic, Zimmer Biomet, Ekso Bionics, and OTTOBOCK.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased Incidence of Disabilities, Organ Failures, and Scarcity of Donor Organs
4.2.2 Technological Advancements in Artificial Organs and Bionics
4.3 Market Restraints
4.3.1 Expensive Procedures
4.3.2 Risk of Compatibility Issues and Malfunctions
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Artificial Organ
5.1.1.1 Artificial Heart
5.1.1.2 Artificial Kidney
5.1.1.3 Cochlear Implants
5.1.1.4 Other Organ Types
5.1.2 Bionics
5.1.2.1 Ear Bionics
5.1.2.2 Orthopedic Bionic
5.1.2.3 Cardiac Bionics
5.1.2.4 Other Bionics
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott
6.1.2 Berlin Heart
6.1.3 Cochlear Ltd
6.1.4 Ossur
6.1.5 Sonova (Advanced Bionics AG)
6.1.6 Abiomed Inc.
6.1.7 Medtronic
6.1.8 Zimmer Biomet
6.1.9 Ekso Bionics
6.1.10 OTTOBOCK
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