Medical Bionic Implant/artificial Organs Market | Contrive Datum Insights

The global Medical Bionic Implant/Artificial Organs Market size was valued at USD 25.3 billion in 2021 and is projected to grow at CAGR of 9.3% during the forecast period from 2022 to 2030.

Medical Bionic Implant/Artificial Organs Market Overview:

The global artificial organs market has been segmented into visual bionics, ear bionics, orthopedic bionics, cardiac bionics, and neuro/brain bionics. Cardiac bionics holds the largest share in this market mainly due to the high number of cardiac patients across the globe. Rising healthcare spending and emergence of new healthcare facilities in emerging economies offer growth opportunities for the medical bionic implants market. The market for certain bionic devices such as exoskeletons, bionic orthotics, and bionic eyes is skewed towards certain regions due to stronger research in these regions than others. In this report, we also focus on bionic devices in development, including wearable artificial kidneys, bio-lungs, and artificial pancreas.

New and improved technologies, increase in organ failure due to aging and age-related diseases, increase in accidents and injuries leading to amputation, and increase in the number of people waiting for organ transplantation are the major drivers driving the growth of this market. However, several key factors restraining the growth of this market are high cost of equipment, uncertain reimbursement situation in different regions, limited surgical expertise, and high development cost. Opportunities offered by this market for new entrants include increasing income levels and increasing awareness in emerging economies.

Medical Bionic Implant/Artificial Organs market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Medical Bionic Implant/Artificial Organs market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.

The global Medical Bionic Implant/Artificial Organs market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.

Industry News and Key Developments

• In September 2022 -- Edwards Lifesciences announced the launch of the SAPIEN 3 Ultra RESILIA valve, which incorporates Edwards' breakthrough RESILIA tissue technology with the industry-leading SAPIEN 3 Ultra transcatheter aortic heart valve. The launch follows recent U.S. Food and Drug Administration (FDA) approval.
• In April 2022- Cochlear Limited, acquired Oticon Medical. As part of the transaction, Cochlear has committed to providing ongoing support for Oticon Medical’s base of more than 75,000 hearing implant recipients, which includes cochlear and acoustic implants.
• In May 2022 -- Medtronic plc announced that it has completed the acquisition of Intersect ENT, expanding the company's comprehensive ear, nose, and throat (ENT) portfolio with innovative products used in sinus procedures to improve post-operative outcomes and to treat nasal polyps.

Top Key Players include in the Medical Bionic Implant/Artificial Organs Market are
CONMED Corporation (US), Wright Medical Group N.V. (US), Stryker (U.S.), Medtronic (Ireland), Smith+Nephew (UK), Zimmer Biomet (US), Integra LifeSciences (US), B. Braun Melsungen AG (Germany), Arthrex (US), Baxter (US), Medical Device Business Services, Inc. (US), Globus Medical (US), DJO, LLC (US), NuVasive, Inc. (US), Orthopedic Implant Co. (NV), Aesculap Inc. (USA), Flexicare Medical Limited (UK), BioTek Instruments, Inc. (US), Narang Medical Limited (India), Auxein Medical (India), Uteshiya Medicare (India) and others.

The Medical Bionic Implant/Artificial Organs market research report is categorized based on type, applications and region.

On the Basis of Type:

• Bionic Implants
• Artificial Organs

On the Basis of Application:

• Hospitals
• Clinics
• Research and Academic Institutes

• Electronic
• Mechanical

On the Basis of Region:

Geographically, the global Medical Bionic Implant/Artificial Organs market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Medical Bionic Implant/Artificial Organs region is dominating this market in the upcoming future.

North America dominated the market in 2021 with a share of 45.4% and is expected to continue its dominance throughout the forecast period. The reason for this growth is the increase in transplant surgeries and the need for artificial organs due to the high incidence of organ failure. Furthermore, the presence of well-developed healthcare facilities and local presence of many large biotechnology and medical devices companies, such as Zimmer Biomet, Arthrex, Inc., Medtronic, Novartis AG, and Stryker, contribute to its dominance.

In the Asia Pacific, the market is expected to grow at the fastest rate during the forecast period, owing to emerging economies like Japan, China, and India. These countries have a large population base with a high incidence of chronic diseases. An increase in the number of chronic diseases that lead to organ failure is expected to boost artificial organ and bionics device growth.

Further the regions are divided into countries as follows

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Medical Bionic Implant/Artificial Organs Market report scope

The major key questions addressed through this innovative research report:

What are the major challenges in front of the global Medical Bionic Implant/Artificial Organs market?

Who are the key vendors of the global Medical Bionic Implant/Artificial Organs market?

What are the leading key industries of the global Medical Bionic Implant/Artificial Organs market?

Which factors are responsible for driving the global Medical Bionic Implant/Artificial Organs market?

What are the key outcomes of SWOT and Porter’s five analysis?

What are the major key strategies for enhancing global opportunities?

What are the different effective sales patterns?

What will be the global market size in the forecast period?

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