Artificial Organs Market Size, Share, Development by 2028

Posted by nileshdbmr on May 21st, 2021

Medical bionic implant/artificial organs market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 37.08 billion by 2029 and will grow at a CAGR of 7.3% in the above mentioned forecast period.

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.

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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.

Segmentation: Global Medical Bionic Implant/Artificial Organs Market

  •          By Product (Vision Bionics, Ear Bionics, Orthopedic Bionics, Heart Bionics, Neural /Brain Bionics), Bionic Implants)
  •          By Method of Fixation (Implantable, Externally Worn)
  •          By Technology (Electronic, Mechanical)
  •          By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

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.

Market Drivers:

  •          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.

Market Restraints:

  •          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

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