Medical Bionic Implants and Artificial Organs Industry Growth Insights 2019 by Top Major Stockholders, Market drivers, Future Innovations and Forecast 2023

Medical Bionic Implant/Artificial Organs Market Research Report: By Technology (Mechanical, Electronic Bionics), by Product (Vision, Ear, Orthopedic, Heart, Neural/Brain), by Fixation (Implantable, Externally Worn), by End-User – Global Forecast Till 2023

Market Outlook

Bionic implants are artificially engineered devices that are implanted into a human to replace a natural organ. The main purpose of bionic implants is to provide life support to prevent imminent death while awaiting a transplant and improve the patient's ability to interact socially.

It is estimated that the medical bionic implant/artificial organs market is expected to register a CAGR of 7.0% during the forecast period of 2018–2023.

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A number of factors such as the increasing cases of organ failure, technological advancements, rising cases of accidents and injuries, improving regulatory framework, increasing government assistance, and increasing prevalence of eye diseases are propelling the growth of the global medical bionic implant/artificial organs market.

Key Players

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.).

Market Segmentation:

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

On the basis of technology, the market is classified as mechanical bionics and electronic bionics.

By product, the market is classified as vision bionics, ear bionics, orthopedic bionics, heart bionics, neural/brain bionics, and others. Vision bionics are further segmented as bionic eye and others. Ear bionics are further segmented as cochlear implant and Bone Anchored Hearing Aid (BAHA). Orthopedic bionics are further segmented as bionic hand, bionic leg, bionic finger, exoskeleton, and electrical bone growth stimulators. The sub-segments of bionic leg include bionic knee and bionic feet. The sub-segments of electrical bone growth stimulators include invasive bone growth stimulators and non-invasive bone growth stimulators.

Heart bionics are further segmented as pacemaker, total artificial heart, ventricular assist device, and artificial heart valve. The sub-segments of pacemaker include implantable cardiac pacemaker and external pacemaker. The sub-segments of artificial heart valve include mechanical heart valve and tissue heart valve. Neural/brain bionics are further segmented as deep brain stimulators, vagus nerve stimulator, and spinal cord stimulators.

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

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Regional Analysis

The Americas dominates the medical bionic implant/artificial organs market owing to the presence of major market players and high adoption rate of medical bionic implants. On November 02, 2017, Second Sight Medical Products, Inc. received the U.S. FDA approval to initiate Orion Cortical Visual Prosthesis System (Orion) feasibility clinical study. In 2013, the company won the FDA approval for Argus II retinal prosthesis system.

Europe holds the second position in the Medical Bionic Implant/Artificial Organs market. It is expected that the government support towards research and development expenditure and rising prevalence of hemophilia and related complications are likely to drive the European market.

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