Global Medical Bionic Implant Artificial Organs Market, By Product (Vision Bionics, Ear Bionics, Orthopedic Bionics, Heart Bionics, Neural/Brain Bionics), Method of Fixation (Implantable, Externally Worn), Technology (Electronic, Mechanical), End User (Hospitals and Clinics, Research and Academic Institutes, Others) – Industry Trends and Forecast to 2030.
Medical Bionic Implant Artificial Organs Market Analysis and Size
It has been observed that the growing number of cases of organ failure has increased the demand for replaceable organs, which is propelling the medical bionic implant/artificial organs market to a large extent. According to the National Kidney Foundation, approximately 121,678 people in the U.S. were waiting for lifesaving organ transplants in 2016. It is also reported that 17,107 kidney transplants were performed in the U.S. in 2014. Organ failure is more common in the elderly population, which is more vulnerable to health issues such as ophthalmic diseases, gastrointestinal problems, orthopedic diseases, cancer, and others.
Data Bridge Market Research analyses that the global medical bionic implant artificial organs market, valued at USD 22.31 Billion in 2022, and is estimated to reach USD 37.75 Billion by 2030, growing at a CAGR of 7.80% during the forecast period of 2023 to 2030. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Bionic Implant Artificial Organs Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Product (Vision Bionics, Ear Bionics, Orthopedic Bionics, Heart Bionics, Neural/Brain Bionics), Method of Fixation (Implantable, Externally Worn), Technology (Electronic, Mechanical), End User (Hospitals and Clinics, Research and Academic Institutes, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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CONMED Corporation (U.S.), Wright Medical Group N.V. (U.S.), Stryker (U.S.), Medtronic (Ireland), Smith+Nephew (UK), Zimmer Biomet (U.S.), Integra LifeSciences (U.S.), B. Braun Melsungen AG (Germany), Arthrex (US), Baxter (U.S.), Medical Device Business Services, Inc. (U.S.), Globus Medical (U.S.), DJO, LLC (U.S.), NuVasive, Inc. (U.S.), ORTHOPAEDIC IMPLANT CO. (U.S.), Aesculap Inc. (U.S.), Flexicare Medical Limited (U.K.), BioTek Instruments, Inc. (U.S.), Narang Medical Limited (India), Auxein Medical (India), Uteshiya Medicare (India)
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Market Opportunities
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Market Definition
Artificial organs and implants are prosthetics or devices designed specifically for implantation in the human body to mimic the functioning of the original organ. The most important aspect of such implants is that they function as if they were normal organs, with no interruptions. Artificial organs and bionic implants used in the medical field these devices are designed to replace or enhance the functionality of damaged or non-functioning organs in the human body. They are typically made of biocompatible materials and can be implanted permanently or temporarily, depending on the specific medical condition. The market includes a wide range of artificial organs, such as artificial hearts, cochlear implants, pacemakers, prosthetic limbs, and artificial pancreas, among others.
Global Medical Bionic Implant Artificial Organs Market Dynamics
Drivers
- Increasing Prevalence of Chronic Diseases
The rising prevalence of chronic diseases, such as cardiovascular diseases, diabetes, and organ failure, is a significant driver for the medical bionic implant artificial organs market. These conditions often require the use of artificial organs or bionic implants to restore or maintain normal bodily functions.
- Technological Advancements
Advances in medical technology have led to the development of more sophisticated and efficient bionic implants and artificial organs. Improved materials, miniaturization, wireless connectivity, and advanced sensors have enhanced the performance and functionality of these devices, driving the market growth.
- Growing Aging Population
The global aging population is a key driver for the medical bionic implant artificial organs market. As people age, the risk of chronic diseases and organ failure increases, leading to a higher demand for artificial organs and bionic implants. The elderly population requires medical interventions to improve their quality of life, creating opportunities for market growth.
Opportunities
- Increasing Awareness and Acceptance
Growing awareness about the benefits of medical bionic implant artificial organs among patients, healthcare professionals, and regulatory authorities creates opportunities for market expansion. Increased acceptance of these devices as a viable treatment option further drives market growth.
- Emerging Markets
Developing economies, particularly in Asia-Pacific and Latin America, present significant growth opportunities for the medical bionic implant artificial organs market. Rising healthcare infrastructure, improving economic conditions, and increasing healthcare expenditure in these regions contribute to the market's expansion.
Restraints/Challenges
- High Cost of Implants
The high cost associated with medical bionic implant artificial organs is a significant restraint for market growth. The expenses related to device procurement, surgical procedures, post-implantation care, and maintenance can be prohibitive for many patients and healthcare systems, limiting the market's potential.
- Regulatory and Ethical Considerations
The medical bionic implant artificial organs market faces regulatory challenges related to the approval and commercialization of these devices. Stricter regulations and ethical concerns regarding the use of artificial organs pose challenges for manufacturers, potentially delaying product launches and hindering market growth.
This global medical bionic implant artificial organs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global medical bionic implant artificial organs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 10 March 2022, Zimmer Biomet Holdings, Inc. released WalkAI, an evolving AI design that recognizes patients1 who are expected to have a lesser gait speed outcome ninety days after hip or knee surgical intervention. WalkAI augments ZBEdge, a suite of integrated smart, robotic technologies digitally designed to offer transformative data-powered clinical insights to boost patient outcomes, with strong predictive analytic capabilities
- In February 2022, Warburg Pincus invested USD 210 in Micro Life Sciences Pvt Ltd (parent organization of Meril group of companies). This investment will promote domestic medical devices at a high level of legitimacy in the global context, allowing them to expand their overseas footprint, attract international talent, and scale-up clinical research programs
Global Medical Bionic Implant Artificial Organs Market Scope
The medical bionic implant artificial organs market is segmented on the basis of product, method of fixation, technology and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Vision Bionics
- Ear Bionics
- Orthopaedic Bionics
- Heart Bionics
- Neural/Brain Bionics
Method of Fixation
- Implantable
- Externally Worn
Technology
- Electronic
- Mechanical
End User
- Hospital and clinics
- Research and Academic Institutes
- Others
Medical Bionic Global Medical Bionic Implant Artificial Organs Market Regional Analysis/Insights
The global medical bionic implant artificial organs market is analysed and market size insights and trends are provided by country, product, method of fixation, technology and end user as referenced above.
The countries covered in the global medical bionic implant artificial organs market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region leads the global medical bionic implant artificial organs market due to the introduction of advanced medical bionic implants by major market players in the region.
Asia-Pacific is expected to grow at a significant rate from 2023 to 2030 in the global medical bionic implant artificial organs market because of the large patient pool, growing demand for advanced treatments, and rapid development in healthcare technology in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The global medical bionic implant artificial organs market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global medical bionic implant artificial organs market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global medical bionic implant artificial organs market. The data is available for historic period 2015-2020.
Competitive Landscape and Global Medical Bionic Implant Artificial Organs Market Share Analysis
The global medical bionic implant artificial organs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global medical bionic implant artificial organs market.
Some of the major players operating in the global medical bionic implant artificial organs market are:
- CONMED Corporation (U.S.)
- Wright Medical Group N.V. (U.S.)
- Stryker (U.S.)
- Medtronic (Ireland)
- Smith+Nephew (U.K.)
- Zimmer Biomet (U.S.)
- Integra LifeSciences (U.S.)
- B. Braun Melsungen AG (Germany)
- Arthrex (U.S.)
- Baxter (U.S.)
- Medical Device Business Services, Inc. (U.S.)
- Globus Medical (U.S.)
- DJO, LLC (U.S.)
- NuVasive, Inc. (U.S.)
- ORTHOPAEDIC IMPLANT CO. (U.S.)
- Aesculap Inc. (U.S.)
- Flexicare Medical Limited (U.K.)
- BioTek Instruments, Inc. (U.S.)
- Narang Medical Limited (India)
- Auxein Medical (India)
- Uteshiya Medicare (India)
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