Medical Bionic Implant/Artificial Organs Market Size, Share Report, Analysis, Trends, Growth 2032

Global Medical Bionic Implant/Artificial Organs Market: Overview

The global Medical Bionic Implant/Artificial Organs market size accrued earnings worth approximately USD 47.49 Billion in 2023 and is predicted to gain revenue of about USD 91.58 Billion by 2032, is set to record a CAGR of nearly 7.69% over the period from 2024 to 2032.

Artificial organs and implants are unique types of devices that are implanted in the body so as to it can imitate the original function of the organ. The functionality of the original organ should be imitated by the artificial organ if it is not done then it results in the death of the person. The term “bionics” is a combination of biology and electronics. Medical bionics is the improved versions of body parts that include robotic technology. Organ transplantation is done when a particular human organ gets damaged or injured.

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Global Medical Bionic Implant/Artificial Organs Market: Growth Factors

The medical bionic implant and artificial organ market are growing market owing to factors such as huge demand among patients for organ transplantation, growing technological advancement in medical technologies, increasing investments made for research and development activities by the government, growing public awareness, advancements made in the medical bionic implant and artificial organ procedures and rising demand for screenings conducted in the diagnosis and treatment process. The increasing aging population, rising incidents of road accidents, injuries, and organ failure, rising income, and better living standards are further fueling the market growth. However, there are certain restraining factors to the market growth which include high costs associated with organ transplants, expensive devices uncertain reimbursement scenarios in different regions, and limited surgical experience.

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Global Medical Bionic Implant/Artificial Organs Market: Segmentation

The medical bionic implant market is globally segmented into products, technology, method of fixation, and regions. On the basis of products, the global market is segregated into vision bionics, orthopedic bionics, neural /brain bionics, ear bionics, and heart bionics. Based on the technology, the market is categorized into Electronic and mechanical. Depending on the method of fixation the market is divided into externally worn and implantable. Region-wise, the global medical bionic implants market is diversified into regions such as North America, Asia-Pacific, Europe, and the Rest of the World.

Medical Bionic Implant/Artificial Organs Market: Report Scope

Global Medical Bionic Implant/Artificial Organs Market: Regional Analysis

The region that contributed to the major market share in the global medical bionic implants market is North America. The factors that contribute to this market growth include the rapid technological advancements that are made in the field, the huge amount of investments that are made in research and development, and the rise in the expenditures on the artificial prosthesis. North America is followed by Asia-Pacific and Europe. The factors that attribute to this growth are the huge consumer base, the increasing initiatives that are taken by the government, and the rise in disposable income contributing to the market growth.

Global Medical Bionic Implant/Artificial Organs Market: Competitive Players

The key market players that are involved in the medical bionic implant market include

• LifeNet Health U.S.
• Össur
• Nano Retina Inc.
• Edwards Lifesciences Corporation
• Tibion Corporation
• Otto Bock Healthcare
• Boston Scientific Corporation
• Terumo Corporation
• EKSO Bionics
• Second Sight Medical Products
• Medtronic Inc.
• Touch Bionics Limited
• Orthofix International U.S.A., and others.

The report segments the Global Medical Bionic Implant/Artificial Organs market as follows:

Global Medical Bionic Implant/Artificial Organs Treatment Market: Product Segment Analysis

• Vision bionics
• Orthopedic bionics
• Neural /brain bionics
• Ear bionics
• Heart bionics

Global Medical Bionic Implant/Artificial Organs Treatment Market: Technology Segment Analysis

• Electronic
• Mechanical

Global Medical Bionic Implant/Artificial Organs Treatment Market: Method of fixation Segment Analysis

• Externally worn
• Implantable

Global Medical Bionic Implant/Artificial Organs Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa