The UAE Artificial Organs & Bionic Implants Market is expected to grow with a CAGR of 11.48% in the forecast period. The growth of the market in the country can be attributed to the increasing incidence of disabilities and organ failure and the rising accidents and road injuries. Furthermore, the technological advancements and the increasing healthcare expenditure in the region is boosting the market growth.
According to the Dubai Health Authority (DHA), 2019, UAE is among the top 10 countries in the world with a high prevalence of diabetes by 2025, the prevalence of diabetes is expected to rise to more than 21.5%. The main cause of the amputations is also due to diabetic foot ulcers. More than half of all foot ulcers (wounds) are expected to become infected, requiring hospitalization, and 20% of infections were expected to result in amputation. Therefore, increasing diabetic foot ulcer helps in driving the overall market.
However, the high cost of the organs and the procedures is a major constraint. Additionally, fear of device malfunction and its consequences is also restraining the growth of the artificial organs and bionic implants market in the country.
Key Market Trends
Orthopeadic Bionics Segment is Expected to Have a Highest Growth Rate in the Forecast Period
Orthopedic bionics mainly consist of bionic limbs, joints, knees, etc. the country has shown an increasing prevalence of road accidents and injuries. According to the Traffic accidents report of 2018, by the government of Dubai, the total number of serious accidents that took place in that year is 2574 which caused severe disabilities, increasing the demand for artificial limbs and other bionics.
Furthermore, the increasing geriatric population who are in need of total knee replacement and joints replacement is also boosting the segment growth, and with this huge patient pool, the amputations and organ failures are expected to increase in the forecast period thereby driving the market growth.
The UAE 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 companies of the country are, Boston Scientific Corporation, Medtronic plc, Otto Bock Holding GmbH & Co. KG, Zimmer Biomet, etc.
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