According to the report “Latin America Artificial Organs and Bionics Market,” published by Market Data Forecast, the market is projected to reach USD 2.99 billion by 2021, at a CAGR of 10.10% from 2016 to 2021.
Artificial organs and bionics are the devices that can be implanted or integrated into humans to take place of a natural organ or provide the necessary to help the patient lead a normal life. These devices are man-made and require a skilled labor.
Artificial organs are the devices that can temporarily or permanently implanted into a body. Bionics provide support and can be internally and externally worn to perform body functions.
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Latin America Artificial Organs and Bionics Market: Drivers & Restraints
The Latin America Artificial Organs and Bionics market is mainly propelled because of rising number of heart failures in the region along with kidneys, pancreas, and lungs failures thus leading to high demand for organ transplants. Moreover, increasing aged population is driving the market growth in this region. However, the market is constrained because of high cost of transplants, uncertainty in the patient’s mind about the success of operation and its consequences as well as insufficient number of skilled doctors to carry out the transplants.
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Latin America Artificial Organs and Bionics Market: Segmentation
- Artificial Organs
- Artificial heart
- Artificial liver
- Artificial kidney
- Artificial lungs
- Artificial pancreas
- Vision Bionics
- Ear Bionics
- Orthopedic Bionics
- Cardiac Bionics
- Brain Bionics
- Mechanical Bionics
- Electronic Bionics
By Type of Fixation
- Externally worn
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Latin America Artificial Organs and Bionics Market: Overview
Latin America Artificial Organs and Bionics Market is expected to witness high demand due to increased awareness about medical treatments. The material that makes body interfaces or implants are known as biomaterials.
The application and study of electronics and mechanics for replacing a part of a functional organ is termed as medical bionics. Due to the advancement in biomedical science, organ transplantation has become feasible.
Latin America Artificial Organs and Bionics Market: Region-wise Outlook
Latin America market for Artificial Organs and Bionics is geographically segmented into Brazil, Argentina, Mexico and Rest of Latin America. The growth potential in Latin American market for new players is fostered by rising income levels and increasing awareness in developin economies about such procedures. Moreover, insufficient organ donors and huge number of patients waiting for organ transplant procedures will significantly drive the growth of artificial organs and bionics market in this region.
Key Questions Answered
- What is the current and future Latin America Artificial Organs and Bionics Market outlook? What trends are affecting the market?
- What is the competitive landscape and market share of major players in the Latin America artificial Organs and Bionics Market?
- What are the key, high growth markets that Artificial Organs and Bionics suppliers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Artificial Organs and Bionics currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Artificial Organs and Bionics?
- What are the challenges and barriers that have hindered widespread adoption of Artificial Organs and Bionics?
Latin America Artificial Organs and Bionics Market: Key Players
Some of the major companies operating in the market are Abiomed Inc., Asahi Kasei Medical Co., Second Sight Medical Products, Inc., Ossur, Ekso Bionics, St. Jude Medical, Inc., Baxter International, Inc., Worldheart Corporation, Thoratec Corporation and Biomet.
Reasons to buy Latin America Artificial Organs and Bionics Market Report:
- Country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product, technology and type of fixations with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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