Global Medical Bionic Implant/Artificial Organs Market, By Product (Vision Bionics, Ear Bionics, Orthopedic Bionics, Heart Bionics, Neural /Brain Bionics), Bionic Implants), Method of Fixation (Implantable, Externally Worn), Technology (Electronic, Mechanical), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026
Market Analysis: Global Medical Bionic Implant/Artificial Organs Market
Global medical bionic implant /artificial organs market is expected to rise from its initial estimated value of USD 17.82 billion in 2018 to an estimated value of USD 32.21 billion by 2026 at a healthy CAGR of 6.8% in the forecast period of 2019-2026. The report contains data from the historic year of 2017, and the base year of 2018. This healthy rise of market value can be attributed to the rising applications of the product due to the rapid technological advancements taking place in the market.
Market Definition: Global Medical Bionic Implant/Artificial Organs Market
Artificial organ and implants are prosthetics or devices that are specially made to implant in human body to mimic the functioning of the original organ. The important part of such implant is for them to work exactly like a normal organ without any disruption. Bionics is a combination of electronics and biology. It is like substituting the original body organ with a robotic version.
According the National Kidney Foundation, in 2016, in the United States around 121,678 people were waiting for lifesaving organ transplants and in 2014, 17,107 kidney transplants took place in the U.S. The growth in the number of organ transplants is boosting the market growth.
- Increase in number of occupational disabilities that require medical bionics is expected to drive the market.
- Increased adoption of organ transplantation and technological advancement is also expected to drive the market growth.
- High production cost and complex production process of the products is expected to restrain the market growth
- Uncertain reimbursement scenarios in different regions and lack of skilled professionals, which is expected to restrain the market growth
Segmentation: Global Medical Bionic Implant/Artificial Organs Market
- By Product Type
- Vision Bionics
- Bionic Eye
- Ear Bionics
- Cochlear Implant
- Bone Anchored Hearing Aid (Baha)
- Orthopedic Bionics
- Bionic Limb
- Bionic Hand
- Bionic Leg
- Bionic Knee
- Bionic Feet
- Bionic Finger
- Electrical Bone Growth Stimulators
- Invasive Bone Growth Stimulators
- Non-Invasive Bone Growth Stimulators
- Bionic Limb
- Heart Bionics
- Implantable Cardiac Pacemaker
- External Pacemaker
- Total Artificial Heart
- Ventricular Assist Device
- Artificial Heart Valve
- Mechanical Heart Valve
- Tissue Heart Valve
- Neural/Brain Bionics
- Deep Brain Stimulator
- Vagus Nerve Stimulator
- Vision Bionics
- Spinal Cord StimulatorBy Method of Fixation
- Externally Worn
- By Technology
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In July 2016, PIXIUM VISION. received CE mark approval for IRISII bionic vision system. This will help to provide treatment to compensate for blindness. It is intended for patients who have lost their sight as a result of retinitis pigmentosa by using 150 electrode epi-retinal implant
- In March 2016, Cochlear Ltd., launched Cochlear Baha 5 Power and Baha 5 SuperPower that are the first and only bone conduction sound processors which are worn behind the ear. It is useful for people with high degree of hearing loss.
Competitive Analysis: Global Medical Bionic Implant/Artificial Organs Market
Global medical bionic implant /artificial organs market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical bionic implant /artificial organs market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Medical Bionic Implant/Artificial Organs Market
Few of the major competitors currently working in the medical bionic implant /artificial organs market are ALEVA NEUROTHERAPEUTICS SA, Biocontrol Medical, Zimmer Biomet., Boston Scientific Corporation, Cochlear Ltd., Cyberonics, Inc., Ekso Bionics , LivaNova PLC, Medtronic. ,NeuroPace, Inc., Orthofix Holdings, Inc.., Ossur Corporate, SECOND SIGHT.= = LifeNet Health.., Nano Retina, Edwards LifeSciences Corporation, Terumo Corporation, Touch Bionics Inc. and Touch Bionics Limited, Tibion Corporation among others.
Research Methodology: Global Medical Bionic Implant/Artificial Organs Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report:
- Current and future of medical bionic implant /artificial organs market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)