Market Forecast By Product Type (Artificial Kidney, Artificial Heart, Artificial Pancreas, Cochlear Implants, Others) And Competitive Landscape
|Product Code: ETC432888||Publication Date: Dec 2022||Product Type: Market Research Report|
|Publisher: 6Wresearch||No. of Pages: 75||No. of Figures: 35||No. of Tables: 20|
The Egypt Artificial Organs Market is likely to grow at a tremendous rate over the forecast period. Rising chronic disease prevalence, and rising awareness among people regarding organ donation are the two key factors that are majorly driving this sector in Egypt.
According to 6Wresearch, the Egypt Artificial Organs Market size is expected to grow during 2023-2029. The artificial organ sector is one of the most growing sectors not just in Egypt but around the world owing to rising chronic disease prevalence, and rising awareness among people regarding organ donation. Artificial organs in the country are being used growingly as alternatives to transplantation and it is often not possible owing to the lack of donor organs. In the country, there is a rising trend towards miniaturization of artificial organs that makes them less invasive and more user-friendly. This, along with biomaterials and tissue engineering advances is estimated to drive this sector in the country during the forecast period. Growing demand for heart transplantation and growing number of cardiovascular diseases are aiding the sector to progress more in the years to come. There are various end users of the market such as clinics, hospitals and research institutes & laboratories and among these, the hospital segment will boost the sector growth since it is the major end user of artificial organs.
Aging population in the country is also driving the sector evolvement. There are high chances for people to develop conditions that need organ transplantation as they live longer, which in turn is giving this sector boost since these conditions require artificial organs. Enhancing healthcare infrastructure in the country is also driving the industry. The enhanced infrastructure includes trained personnel and better access to transplantation facilities that will support to enhance the outcomes for patients receive artificial organs. However, lack of insurance coverage owing to high prices of these procedures, lack of skilled personnel, limited availability of organs and lack of regulations for organ transplantation are the factors challenging the evolvement of this market. There are numerous key players in this sector who are cautiously working on the areas that can restrain the sector growth. The Egypt Artificial Organs Market share will grow more in the near future as the market will overcome these challenges.
The COVID-19 pandemic significantly affected the growth of Egypt Artificial Organs Market the way it affected the growth of other sectors in the country. The sudden virus spread in the country restricted people going out which led to disruption in this sector. People during the pandemic cancelled and even postponed surgeries which impacted negatively on the evolvement of this sector. Hospitals during the pandemic occupied with COVID-19 cases owing to which, people were avoiding visiting hospitals and they cancelled their surgeries. The sector will progress well in the future.
Based on type of products, the Artificial Organ Market in Egypt is fragmented into Artificial Kidney, Artificial Heart, Artificial Pancreas, Cochlear Implants, and Others. In the market, all these product types are gaining popularity and they will grow more in the years to come.
The report offers a comprehensive study of the subsequent market segments:
1. Is the sector estimated to grow in the future?
Yes, the sector is estimated to grow effectively in the future.
2. What is the forecast period of this report?
The forecast period of this report is 2023-2029.
3. What are the factors responsible for market growth?
Growing demand for heart transplantation and growing number of cardiovascular diseases are aiding the sector to progress more in the years to come.
4. Are there any factors challenging the market growth?
lack of insurance coverage owing to high prices of these procedures, lack of skilled personnel, limited availability of organs and lack of regulations for organ transplantation are the factors challenging the evolvement of this market.