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Medical Bionic Implant/Artificial Organs Market Outlook 2024: Exclusive Report By The Business Research Company
Medical Bionic Implant/Artificial Organs Market
The Business Research Company offers in-depth market insights through Medical Bionic Implant/Artificial Organs Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
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
Major Driver - The Increase In Road Accidents And Injuries Is Driving The Medical Bionic Implant/Artificial Organs Market
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.
Competitive Landscape:
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
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Top Trend - Strategic Partnerships Drive Innovation In The Medical Bionic Implant/Artificial Organs Market
Strategic partnerships are a key trend gaining popularity in the medical bionic implant/artificial organs market. Many companies operating in the medical bionic implant /artificial organs market are undergoing partnerships to strengthen their position in the market. For instance, in September 2021, Bionic Vision Technologies (BVT), an Australia-based company operating in artificial organs partnered with Cirtec Medical, a US-based provider of outsourced medical device and components design, engineering, and manufacturing for an undisclosed amount. With this partnership, Cirtec would help BVT to develop and produce its next-generation bionic eye by obtaining a strategic stake in the Australian company. Further, in February 2022, HUMOTECH, a US-based research services company, engaged in artificial organs, partnered with the University of Michigan, a US-based, public research university, for an undisclosed amount. This partnership aims to accelerate the development of bionic leg control software, which has the potential to give prosthetic users the strength and natural gait of a human leg. As part of this partnership, HUMOTECH develops updated versions of the open-source leg to accommodate prosthesis users and researchers.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical Bionic Implant/Artificial Organs Market Characteristics
3. Medical Bionic Implant/Artificial Organs Market Trends And Strategies
4. Medical Bionic Implant/Artificial Organs Market - Macro Economic Scenario
5. Medical Bionic Implant/Artificial Organs Market Size And Growth
…..
27. Medical Bionic Implant/Artificial Organs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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