Market Size of UAE Artificial Organs & Bionic Implants Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 11.48 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
UAE Artificial Organs & Bionic Implants Market Analysis
The UAE Artificial Organs and Bionic Implants Market is expected to witness a CAGR of 11.48% during the forecast period.
The COVID-19 pandemic impacted the studied market significantly. During the initial phase of the pandemic, due to the lockdowns and shutdowns, the number of organ transplants and surgeries decreased to avoid the contamination and spread of coronavirus. There was also a decreased in organ research and development-related activities related to artificial organs and bionic implants due to the shift of focus toward COvid-19 diagnostics and treatment. However, with resumed services and transplantation procedures, the studied market is expected to witness significant growth over the forecast period.
Certain factors propelling the market growth are the increased number of people suffering from organ failures, the rising incidents of motor accidents and injuries, and rapid technological advancements in the bionics sector. The rising number of chronic diseases among the population can lead to organ dysfunction due to lifestyle disorders such as unhealthy dietary habits, smoking, alcohol consumption, and lack of exercise, which is the key factor driving the market growth. For instance, an article published in Springer Nature in April 2021 stated that the pandemic level of obesity in the UAE was 28.8. The lifetime discounted direct costs associated with NASH and AF-NASH managed with SoC increased dramatically across all countries, amounting to USD 1.6 billion in UAE (local population) through 2030, reflecting the increasing country caseloads over the period. Thus, the increasing burden is expected to increase the demand for artificial organ and bionic implants in the country over the forecast period.
Additionally, a meta-analysis study published in the National Library of Medicine in December 2021 stated that the combined prevalence of hypertension was 31% in the UAE. In addition, as per the same source, the prevalence of hypertension was higher in Dubai (37%) than in the Abu Dhabi region (29%). Thus, the elevated blood pressure in the population causes the left ventricle to thicken, which increases the risk of heart attack and cardiac failure. This is expected to increase the demand for cardiac bionics, thereby boosting the market growth.
Furthermore, as per a news published in October 2021, the team at Cleveland Clinic Abu Dhabi performed two deceased donor kidney transplants and a deceased donor liver transplant in a single day. In addition, the team completed 10 of the complex transplant procedures in the first three weeks of October. Thus, the rising number of organ transplants in the country is expected to propel the demand for artificial organs and bionics during transplantation procedures, which, in turn, is anticipated to boost the market growth over the forecast period.
However, the expensive procedure, coupled with the fear of malfunction or failure of the device, is likely to impede the market growth over the forecast period.
UAE 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 to restore a specific function or a group of related functions, helping the patient to return to his normal life.
The UAE Artificial Organs and Bionic Implants Market is Segmented by Product (Artificial Organs and Bionics). The report offers the value (in USD) for the above segments.
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UAE Artificial Organs & Bionic Implants Market Size Summary
The UAE Artificial Organs and Bionic Implants Market is poised for substantial growth, driven by an increasing prevalence of organ failures, chronic diseases, and technological advancements in the bionics sector. The market experienced a temporary setback due to the COVID-19 pandemic, which led to a decrease in organ transplants and related research activities. However, as services resumed, the market began to recover, supported by factors such as the rising incidence of motor accidents, lifestyle-related health issues, and the growing demand for organ transplants. The prevalence of conditions like hypertension and diabetes, which contribute to organ dysfunction, is expected to further boost the demand for artificial organs and bionic implants, particularly in the cardiac and renal segments.
The market is characterized by a concentration of major players, including Boston Scientific Corporation, Medtronic PLC, and Zimmer Biomet, who are actively engaging in strategies like product development and collaborative models to enhance their market presence. The artificial kidney segment is anticipated to witness significant growth due to the increasing cases of renal failures and the demand for wearable dialysis solutions. Additionally, the high prevalence of orthopedic diseases, driven by an aging population, is expected to propel the market, with initiatives such as the introduction of advanced surgical systems further supporting segmental growth. Despite challenges like the high cost of procedures and concerns over device malfunctions, the market is set to expand, fueled by ongoing advancements and strategic initiatives in the region.
UAE Artificial Organs & Bionic Implants Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increased Number of People Suffering from Organ Failures and Rising Incidents of Motor Accidents and Injuries
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1.2.2 Rapid Technological Advancements in the Bionics Sector
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1.3 Market Restraints
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1.3.1 Expensive Procedures Coupled with Fear of Malfunction or Failure of Device
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD)
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2.1 By Product
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2.1.1 Artificial Organs
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2.1.1.1 Artificial Heart
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2.1.1.2 Artificial Kidney
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2.1.1.3 Cochlear Implants
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2.1.1.4 Others
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2.1.2 Bionics
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2.1.2.1 Vision Bionics
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2.1.2.2 Ear Bionics
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2.1.2.3 Orthopedic Bionic
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2.1.2.4 Cardiac Bionics
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2.1.2.5 Others
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UAE Artificial Organs & Bionic Implants Market Size FAQs
What is the current UAE Artificial Organs & Bionic Implants Market size?
The UAE Artificial Organs & Bionic Implants Market is projected to register a CAGR of 11.48% during the forecast period (2024-2029)
Who are the key players in UAE Artificial Organs & Bionic Implants Market?
Boston Scientific Corporation, Medtronic plc, Edwards Lifesciences Corporation, Zimmer Biomet and Otto Bock Holding GmbH & Co. KG are the major companies operating in the UAE Artificial Organs & Bionic Implants Market.