Saudi Arabia Artificial Organs & Bionic Implants Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 1.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Artificial Organs & Bionic Implants Market Analysis
The Saudi Arabia Artificial Organs & Bionic Implants Market is expected to register a CAGR of 1.5% during the forecast period. This is attributing to increased incidence of disabilities and organ failures, scarcity of donor organs, and High Incidence of Road Accidents Leading to Amputations. Moreover, the rising prevalence of renal disorders, acute renal failure, and the increase in organ failure due to the ageing population are some more factors driving the market in this region. rapid involvement in the field of biomedical science has enabled organ transplantation a common practice. In addition, development in bionic orthopaedics, bionic eye, and exoskeleton is fueling the market growth. Furthermore, Increasing R&D expenditure by innovators and generic players, technological advancements associated with bionic implants, and the rising ageing population will also fuel the Saudi Arabia Artificial Organs & Bionic Implants Market. However, the factors, such as the fear of device malfunction, risk of compatibility of artificial organs, and their consequences, among others, may impact the market growth. These implants are also expensive, which has also been a restraining factor for the market growth.
Saudi Arabia Artificial Organs & Bionic Implants Market Trends
This section covers the major market trends shaping the Saudi Arabia Artificial Organs & Bionic Implants Market according to our research experts:
Bionic Segment by Product is Estimated to Witness a Healthy Growth in Future.
According to a 2019 report by the Centers for Disease Control and Diagnostics, Diabetes is one of the most common causes of chronic kidney disease (CKD) and the primary cause of kidney failure. Hemodialysis is a method for removing waste products such as creatinine and urea, as well as free water from the blood when the kidneys are in kidney failure. The artificial kidney is used to clean the patient's blood. Hence, the other name for an artificial kidney is also called a dialysis machine. Dialysis is an important 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. Hence, as the prevalence of kidney failure increases, the demand for an artificial kidney is also expected to increase. Moreover, As per the United Nations, Department of Economic and Social Affairs, an estimate of around 1,169,000 population aged over 65 years in Saudi Arabia. The presence of such a large number of people aged over 65 years is more prone to have organ failure. Thus the increasing prevalence of the aging population likely positively impacts the segment growth.
Saudi Arabia Artificial Organs & Bionic Implants Industry Overview
The Saudi Arabia Artificial Organs & Bionic Implants Market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Cochlear Ltd., Edwards Lifesciences Corporation, Berlin Heart, Medtronic, JARVIK HEART, INC., ABIOMED, Zimmer Biomet, Abbott, and Ekso Bionics
Saudi Arabia Artificial Organs & Bionic Implants Market Leaders
Cochlear Ltd.
Edwards Lifesciences Corporation
Berlin Heart
Medtronic
JARVIK HEART, INC.
*Disclaimer: Major Players sorted in no particular order
Saudi Arabia Artificial Organs & Bionic Implants Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increased Incidence of Disabilities, Organ Failures and Scarcity of Donor Organs
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4.2.2 Technological Advancements in the Artificial Organ and Bionics
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4.3 Market Restraints
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4.3.1 Expensive Procedures
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4.3.2 Risk of Compatibility Issues and Malfunctions
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Artificial Organ
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5.1.1.1 Artificial Heart
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5.1.1.2 Artificial Kidney
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5.1.1.3 Cochlear Implants
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5.1.1.4 Other Organ Types
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5.1.2 Bionics
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5.1.2.1 Ear Bionics
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5.1.2.2 Orthopedic Bionic
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5.1.2.3 Cardiac Bionics
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5.1.2.4 Others
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Cochlear Ltd.
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6.1.2 Edwards Lifesciences Corporation
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6.1.3 Berlin Heart
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6.1.4 Medtronic
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6.1.5 JARVIK HEART, INC.
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6.1.6 ABIOMED
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6.1.7 Zimmer Biomet
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6.1.8 Abbott
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6.1.9 Ekso Bionics
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Saudi Arabia Artificial Organs & Bionic Implants Industry Segmentation
As per the Scope, Artificial organs are mechanical devices that can temporarily or permanently substitute for a body organ. The Artificial Organs are made by a human and are implemented in human bodies with living tissue, it can able to perform the original function of human body parts. Bionics refers to the replacement or improvement of body parts by mechanical kinds. Saudi Arabia Artificial Organs & Bionic Implants Market is segmented by Type.
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Saudi Arabia Artificial Organs & Bionic Implants Market Research FAQs
What is the current Saudi Arabia Artificial Organs & Bionic Implants Market size?
The Saudi Arabia Artificial Organs & Bionic Implants Market is projected to register a CAGR of 1.5% during the forecast period (2024-2029)
Who are the key players in Saudi Arabia Artificial Organs & Bionic Implants Market?
Cochlear Ltd. , Edwards Lifesciences Corporation, Berlin Heart, Medtronic and JARVIK HEART, INC. are the major companies operating in the Saudi Arabia Artificial Organs & Bionic Implants Market.
What years does this Saudi Arabia Artificial Organs & Bionic Implants Market cover?
The report covers the Saudi Arabia Artificial Organs & Bionic Implants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Saudi Arabia Artificial Organs & Bionic Implants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Saudi Arabia Artificial Organs & Bionic Implants Industry Report
Statistics for the 2024 Saudi Arabia Artificial Organs & Bionic Implants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Artificial Organs & Bionic Implants analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
