Medical Bionic Implant/Artificial Organs Market Growth Outlook Through 2024-2033

Overview and Scope
Medical bionic implant artificial organs refer to any machine, device, or other item employed to perform the functions of a damaged or absent organ or other portion of the human body. The medical bionic implant artificial organs are used to restore physical capability to a person with a disability, and a small, disparate set of implants that improve cardiac and neurological functions.

Sizing and Forecast
The medical bionic implant/artificial organs market size has grown strongly in recent years. It will grow from $22.56 billion in 2023 to $24.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing geriatric population, advances in materials science, government support and funding, growing acceptance of implantable devices, patient awareness and education..

The medical bionic implant/artificial organs market size is expected to see strong growth in the next few years. It will grow to $32.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to bioprinting and tissue engineering, emergence of biohybrid implants, focus on cardiac bionics, enhanced sensory feedback, regenerative medicine in bionics.. Major trends in the forecast period include advancements in prosthetics and orthotics, increasing focus on brain-machine interfaces (bmis), bionic organs for transplantation, 3d printing in bionic implants, integration of artificial intelligence (ai), wireless connectivity and remote monitoring..

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Segmentation & Regional Insights
The medical bionic implant/artificial organs market covered in this report is segmented –

1) By Type: Bionic Implants, Artificial Organs
2) By Method Of Fixation: Implantable, Externally Worn
3) By Technology: Electronic, Mechanical
4) By Application: Hospitals, Clinics, Research and Academic Institutes, Other Applications

Asia-Pacific was the largest region in the medical bionic implant/artificial organs market share in 2023. The regions covered in the medical bionic implant/artificial organs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rise in road accidents and injuries is expected to propel the growth of the medical bionic implant/artificial organs market going forward. Road accidents and injuries refer to an incident on a public road that results in accidents and causing injuries to the victim. Artificial organ and tissue replacements are performed to repair organ damage that is primarily brought on by traumatic events including vehicle accidents, violent crimes, work-related injuries, or challenging births. For instance, in May 2022, according to the National Highway Traffic Safety Administration, a US-based government agency data, in the US, nearly 42.9 thousand people died in motor vehicle accidents in 2021. Additionally, in June 2022, according to the World Health Organization, a US-based specialized health agency, almost 1.3 million people died each year from road traffic injuries. Therefore, the rise in road accidents and injuries is driving the growth of the medical bionic implant/artificial organs market.

Key Industry Players
Major companies operating in the medical bionic implant/artificial organs market report are Medtronic plc, Boston Scientific Services Private Limited., Abbott Laboratories Inc., Zimmer Biomet Holdings Inc., Ekso Bionics Holdings Inc., Cochlear Limited, Cyberonics Inc., LivaNova plc, NeuroPace Inc., Ossur India Private Limited, Vivani Medical Inc., St Jude Medical India Private Limited, LifeNet Health Inc., Ottobock SE & Co. KGaA, Edwards Lifesciences India Pvt. Ltd., SynCardia Systems LLC, Demant A/S, Berlin Heart GmbH, Conmed Devices Private Limited, Wright Medical Group N.V., Abiomed Inc., Baxter Laboratories Inc., Asahi Kasei Medical Co.Ltd., Getinge AB, Bornlife Prosthetic and Orthotic Inc., Sonova Holding AG, Biocontrol Medical Ltd., Orthofix International Inc., Aleva Neurotherapeutics SA, Second Sight Medical Products Inc., Touch Bionics Inc., Thoratec Corporation, CardiacAssist Inc., HeartWare International Inc., Synapse Biomedical Inc., Neurotech NA Inc., Retina Implant AG, Advanced Bionics AG, Med-El Elektromedizinische Geräte GmbH

The medical bionic implant/artificial organs market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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