Mexico Artificial Organs and Bionic Implants Market Size

Mexico Artificial Organs & Bionic Implants Market Analysis

The Mexico artificial organs and bionic implants market is expected to register a CAGR of 2% during the forecast period.

The COVID-19 pandemic has impacted the growth of the market. The initial phase of the pandemic decreased the number of organ transplants and surgeries performed in the country. The lockdown measures and the restrictions imposed by the government have resulted in the shutdown of hospitals and surgical centers to avoid the spread of coronavirus among the population. For instance, from an article published in the AJT Journal in August 2021, it has been observed that organ donation and transplantation procedures were greatly reduced in Mexico. In addition, as per the same source, as of June 2021, around 5,831 patients were on the waiting list for a cornea transplant, around 16,890 for a kidney, 48 for a heart, and 323 for a liver transplant. Thus, the reduced transplant procedures impacted the market growth during the pandemic. However, with resumed services and transplantation procedures, the market is expected to witness significant growth over the forecast period.

Certain factors that are propelling the market growth are the increased incidence of disabilities, and organ failures, along with the scarcity of donor organs, the high incidence of road accidents leading to amputations, as well as technological advancements in artificial organs and bionics.

The rising number of chronic diseases among the population is increasing due to the lifestyle issues, such as unhealthy dietary habits, smoking, alcohol consumption, and lack of exercise, which can lead to organ dysfunction, which is the key factor driving the market growth. For instance, as per an article published in AASLD, in January 2022, it has been found that the incidence rate of non-alcoholic fatty liver disease (NAFLD) is highest in Mexican adults. Thus, the high incidence of liver disease among the population is expected to increase the demand for artificial organ transplants, which is anticipated to fuel market growth over the forecast period.

Additionally, smoking and obesity in the Mexican population are found to be the most prevalent heart disease risk factors which are also contributing to the growth of the market over the forecast period. For instance, according to 2022 statistics published by World Obesity Federation, it has been observed that 31.5% of men and 40.2% of women living with obesity in Mexico in 2020. Thus, the obese population in the country increases the risk of developing other chronic diseases and results in organ damage/failure which raises the demand for organ transplants or artificial livers that act as a support system for patients with acute or chronic liver failure. This is anticipated to fuel the market growth over the forecast period.

Furthermore, as per the 2022 data published by OECD, around 21,424 persons were hospitalized due to road accidents in Mexico, in 2020. In addition, as per the same source, 61,421 cases of injury crashes were reported in 2020, in Mexico. Thus, the high number of motor accidents in the country raises the demand for bionics such as orthopedic bionics which in turn is anticipated to fuel the market growth over the forecast period.

However, the expensive procedures and risk of computability issues and malfunctions are likely to impede the market growth over the forecast period.