Bionic implants are known as artificially engineered devices. These devices are implanted into a human in order to replace a natural organ and to act as a substitute of the same. The global medical bionic implant/artificial organs market is projected to register a CAGR of 7.0% over the assessment period between 2018 and 2023.

It is reported that the growing incidences of organ failure to have a positive effect on increasing the demand for replaceable or implantable organs. This is thereby pushing the growth of the overall bionic implant/artificial organs market. The growing aging population is another key factor driving the market demand for these implantable/artificial organs as organ failure is found to be more common in the older age bracket.

A vast number of factors are identified as the potential drivers of the market, such as technological advancements, rising incidences of accidents and injuries, improving regulatory framework, prevalence of organ failure, increasing government support in terms of initiatives and R&D expenditures, and growing prevalence of eye diseases.

However, the high cost associated with the devices, poor healthcare facilities in low and mid-level income nations, and lack of any skilled or proficient professionals can hamper the growth of the market during the forecast period.

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Segments for Global Medical Bionic Implant/Artificial Organs Market

The global medical bionic implant/artificial organs market segmentation is done on the basis of product, technology, fixation, and end-user.

By technology, the market divides into electronic bionics and mechanic bionics.

By fixation, the market is classified into externally worn and implantable.

By end-users, the market includes research and academic institutes, hospitals and clinics, and others.

By product, the market comprises orthopedic bionics, ear bionics, vision bionics, neural/brain bionics, heart bionics, and others.

Here, vision bionics is narrowed down into bionic and others.

Ear bionics is segmented into Bone Anchored Hearing Aid (BAHA) and cochlear implant.

Orthopedic bionics sub-segmented into bionic finger, bionic leg, bionic hand, electrical bone growth stimulators, and exoskeleton. Bionic leg breaks down into bionic feet and bionic knee. Electrical bone growth stimulator segment comprises non-invasive bone growth stimulators and invasive bone growth stimulators.

Heart Bionics segment is divided into total artificial heart, artificial heart valve, pacemaker, and ventricular assist device. The pacemaker segment includes external pacemaker and implantable cardiac pacemaker. Artificial heart valve narrows down into tissue heart valve and mechanical heart valve.

Neural/brain bionics is broken down into vagus nerve stimulators, spinal cord stimulators, and deep brain stimulators.

Competitive Landscape

Some of key the players in the Global Medical Bionic Implant/Artificial Organs Market are Aleva Neurotherapeutics SA (Switzerland), Biocontrol Medical (Israel), Biomet, Inc. (U.S.), Boston Scientific Corporation (U.S.), Cochlear Ltd. (Australia), Cyberonics, Inc. (U.S.), Ekso Bionics (U.S.), LivaNova PLC (U.K), Medtronic, Inc. (U.S.), NeuroPace, Inc. (U.S.), Orthofix International N.V. (The Netherlands), Ossur (Iceland), Second Sight Medical Products, Inc. (U.S.), and St. Jude Medical, Inc. (U.S.).

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