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 2029
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 United States were waiting for lifesaving organ transplants in 2016. It is also reported that 17,107 kidney transplants were performed in the United States 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 medical bionic implant artificial organs market is expected to reach the value of USD 37.75 billion by the year 2029, at a CAGR of 7.8% during the forecast period.
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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Pasta & Spreads, Dips, Deserts, Sauces, Others), Packaging Type (Bottles & Jars, Tubs, Others), Distribution Channels (Store Based, Non-Store Based),
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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 (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)
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Medical bionic implant artificial organs Market Dynamics
Drivers
- The rise in road accidents and injuries
The rapidly increasing number of accidents and injuries is one of the key factors driving the growth and demand for medical bionic implants/artificial organs. Furthermore, the rising prevalence of eye diseases, as well as an improving regulatory framework, are driving growth in the global market over the forecast period.
- The increase in the number of organ transplants
The rapid increase in the number of people waiting for organ transplants is also boosting market growth. Similarly, rising organ failure due to ageing and age-related disorders is driving market growth during the forecast period.
- Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the medical bionic implant artificial organs market.
Opportunities
Rapid technological advancements and rising government assistance will accelerate the expansion of the medical bionic implant/artificial organs market and provide significant growth opportunities for the market during the forecast period.
Restraints/Challenges
The high cost of devices and uncertain reimbursement, as well as the high cost of development, will restrain the growth of the medical bionic implant/artificial organs market, whereas limited surgical expertise may pose a challenge to the market's growth.
This 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 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.
COVID-19 Impact on Medical Bionic Implant Artificial Organs Market
National lockdowns, government regulations, and an increase in infection rates across countries all had a significant financial impact on neurology hospitals and clinics. Several hospitals and clinics have seen a decrease in patient visits as a result of COVID-19, ultimately reducing client contact. The scarcity of potential organs for transplant has been a major issue. The demand for organ donors is constantly increasing, and it is far outstripping the available supply. According to a 2019 report by the University of Pennsylvania, there are more than 120,000 people in the United States awaiting transplantation. Bionics and artificial organs can meet the needs of people who require organ transplants and replacements. They have the ability to mimic the function of damaged organs.
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
On the basis of product, the medical bionic implant/artificial organs market is segmented into vision bionics, ear bionics, orthopedic bionics, heart bionics and neural/brain bionics. Vision bionics has further been segmented into bionic eye. Ear bionics has further been segmented into cochlear implant and bone anchored hearing aid (BAHA). Orthopedic bionics has further been segmented into bionic limb, bionic finger, exoskeleton and electrical bone growth stimulators. Bionic limb is further sub-segmented into bionic hand and bionic leg. Bionic leg is further segmented into bionic knee and bionic feet. Electrical bone growth stimulators are further sub-segmented into invasive bone growth stimulators and non-invasive bone growth stimulators. Heart bionics has further been segmented into pacemaker, total artificial heart, ventricular assist device and artificial heart valve. Pacemaker is further sub-segmented into implantable cardiac pacemaker and external pacemaker. Artificial heart valve is further segmented into mechanical heart valve and tissue heart valve. Neural/brain bionics has further been segmented into deep brain stimulator, vagus nerve stimulator and spinal cord stimulator.
Method of fixation
- Implantable
- Externally worn
Based on method of fixation, the medical bionic implant/artificial organs market is segmented into implantable and externally worn.
Technology
- Electronic
- Mechanical
On the basis of technology, the medical bionic implant/artificial organs market is segmented into electronic and mechanical.
End user
- Hospital and clinics
- Research and academic institutes
- Others
The end user segment of medical bionic implant/artificial organs market is segmented into hospitals and clinics, research and academic institutes and others.
Medical Bionic Implant Artificial Organs Market Regional Analysis/Insights
The 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 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 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 2022 to 2029 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 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 medical bionic implant artificial organs market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical bionic implant artificial organs market. The data is available for historic period 2010-2020.
Competitive Landscape and Medical Bionic Implant Artificial Organs Market Share Analysis
The 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 medical bionic implant artificial organs market.
Some of the major players operating 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)
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