Chile 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 | 11.49 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Chile Artificial Organs & Bionic Implants Market Analysis
The Chile Artificial Organs & Bionic Implants Market is expected to grow with a CAGR of 11.49% in the forecast period. The growth of the market in the country can be attributed to the increasing incidence of disabilities and organ failures coupled with the rising geriatric population. Furthermore, technological advancements are also boosting the market growth.
According to an article by Lycia Tramujas Vasconcellos Neumann published in 2018, the population in Chile is aging at a fast pace with an estimated 64 million seniors living in the country by 2050. The increasing geriatric population is thus expected to increase the prevalence of chronic diseases causing organ failures which helps in raising the demand for bionic implants, and artificial organs in the market.
However, the high cost of the organs and the procedures is a major constraint. Additionally, fear of device malfunction and its consequences, and limited specialists to carry out the procedure, are also restraining the growth of the artificial organs and bionic implants market.
Chile Artificial Organs & Bionic Implants Market Trends
This section covers the major market trends shaping the Chile Artificial Organs & Bionic Implants Market according to our research experts:
Cardiac Bionics Segment is Expected to Have a Highest Growth Rate in the Forecast Period
The Cardiac bionics is expected to grow at a high growth rate of the segment is attributed to the increasing prevalence of cardiovascular diseases, increasing geriatric population in the country. According to the National Statistics Institute of Chile, 2018, the leading cause of death in Chile was circulatory diseases that includes myocardial infarction, ischemic heart disease, stroke, etc, which has killed nearly 29,000 people in the year 2018. The deaths from acute myocardial infarction have increased over the past two decades. In addition, the death rate from Ischemic Heart Disease has increased by 20 percent in 2017 since 2007.
Furthermore, the increasing prevalence of risk factors like sedentary lifestyle, hypertension, obesity, hypercholesteremia escalates the incidence of cardiovascular diseases that increases the demand for cardiac bionics.
Chile Artificial Organs & Bionic Implants Industry Overview
The Chile Artificial Organs & Bionic Implants Market is moderately competitive with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments. Some of the major players are Boston Scientific Corporation, Otto Bock Holding GmbH & Co. KG, Medtronic plc, Zimmer Biomet.
Chile Artificial Organs & Bionic Implants Market Leaders
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Boston Scientific Corporation
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Medtronic plc
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Zimmer Biomet
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Terumo Corporation
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Otto Bock Holding GmbH & Co. KG
*Disclaimer: Major Players sorted in no particular order
Chile Artificial Organs & Bionic Implants Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 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 and Organ Failures Coupled with the Rising Geriatric Population
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4.2.2 Technological Advancements Leading to Enhanced Applications
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4.3 Market Restraints
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4.3.1 Expensive Procedures and Fear of Device Malfunction and its Consequences
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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 Product
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5.1.1 Artificial Organs
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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 Others
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5.1.2 Bionics
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5.1.2.1 Vision 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 Boston Scientific Corporation
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6.1.2 Otto Bock Holding GmbH & Co. KG
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6.1.3 Medtronic plc
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6.1.4 Zimmer Biomet
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6.1.5 Terumo Corporation
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6.1.6 Sonova Holding AG (Advanced Bionics)
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Chile Artificial Organs & Bionic Implants Industry Segmentation
As per the scope of the report, artificial organs and bionics are man-made devices that can be implanted or integrated into humans, to either replace a natural organ or provide support for the purpose of restoring specific function or a group of related functions, helping the patient to return to his normal life.
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Chile Artificial Organs & Bionic Implants Market Research FAQs
What is the current Chile Artificial Organs & Bionic Implants Market size?
The Chile Artificial Organs & Bionic Implants Market is projected to register a CAGR of 11.49% during the forecast period (2024-2029)
Who are the key players in Chile Artificial Organs & Bionic Implants Market?
Boston Scientific Corporation, Medtronic plc, Zimmer Biomet, Terumo Corporation and Otto Bock Holding GmbH & Co. KG are the major companies operating in the Chile Artificial Organs & Bionic Implants Market.
What years does this Chile Artificial Organs & Bionic Implants Market cover?
The report covers the Chile Artificial Organs & Bionic Implants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Chile Artificial Organs & Bionic Implants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Chile Artificial Organs & Bionic Implants Industry Report
Statistics for the 2024 Chile Artificial Organs & Bionic Implants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Chile 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.
