Medical Bionic Implant/Artificial Organs Global Market Report 2024

The global medical bionic implant/artificial organs market 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 observed during the historic period can be linked to several factors, including the rising population of elderly individuals, advancements in materials science, government backing and financial support, an increasing acceptance of implantable devices, as well as heightened patient awareness and education regarding these technologies.

The global medical bionic implant/artificial organs market 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 anticipated growth during the forecast period is driven by several factors, notably the progress in bioprinting and tissue engineering, the rise of biohybrid implants, a dedicated focus on cardiac bionics, improved sensory feedback, and advancements in regenerative medicine within the field of bionics. Key trends expected during this period encompass advancements in prosthetics and orthotics, a growing emphasis on brain-machine interfaces (BMIs), the development of bionic organs for transplantation, utilization of 3D printing in bionic implants, integration of artificial intelligence (AI), wireless connectivity, and the implementation of remote monitoring systems.

The escalating rate of road accidents and resultant injuries is anticipated to drive the expansion of the medical bionic implant and artificial organs market. These incidents encompass mishaps on public roads leading to injuries, often necessitating artificial organ or tissue replacements to address organ damage resulting from traumatic occurrences like vehicle accidents. For instance, as of May 2022, data from the National Highway Traffic Safety Administration revealed nearly 42.9 thousand fatalities due to motor vehicle accidents in the US in 2021. Additionally, the World Health Organization reported approximately 1.3 million annual deaths globally due to road traffic injuries in June 2022, underlining the market growth driven by the rise in road accidents.

The increasing prevalence of chronic diseases is poised to propel growth within the medical bionic implant and artificial organs sector. Chronic diseases persisting for three months or more are becoming more widespread, necessitating the use of medical bionic implants and artificial organs to manage conditions like diabetes. For example, projections from the National Library of Medicine indicate a 99.5% increase in individuals aged 50 and above with at least one chronic condition in the US by 2050. Moreover, as highlighted in September 2022 by the World Health Organization, approximately 41 million deaths each year globally are attributed to noncommunicable diseases or chronic ailments, emphasizing the market growth driven by the mounting prevalence of chronic diseases.

Strategic partnerships have emerged as a significant trend in the medical bionic implant and artificial organs market, as companies seek to fortify their market presence. Notably, collaborations between firms operating in this sector aim to enhance product development and market reach. For instance, Bionic Vision Technologies partnered with Cirtec Medical in September 2021, facilitating the development of a next-generation bionic eye. Additionally, HUMOTECH's collaboration with the University of Michigan in February 2022 intends to expedite the advancement of bionic leg control software, enhancing prosthetic user experience and functionality.

Major players in the medical bionic implant and artificial organs market are leveraging CAD and 3D printing technologies to gain a competitive edge. Utilizing Computer-Aided Design (CAD) and 3D printing technologies allows for precise customization and rapid prototyping of medical bionic implants, particularly in crafting artificial organs. For instance, CureTech's launch of the Polyether ether ketone (PEEK) cranial implant in April 2022 demonstrates the application of CAD software and 3D printing to create a biocompatible implant used in orthopedic applications like spinal fusion, joint replacement, and trauma surgery.

In May 2022, LivaNova PLC, a UK-centered medical device manufacturer, completed the acquisition of ALung Technologies, Inc., for an undisclosed sum. Foreseen to maintain a neutral impact on adjusted diluted earnings per share in 2022, this move signifies LivaNova's commitment to strategic portfolio investments. It includes the phased release of the next-generation heart-lung machine, Essenz, and the broadened applications in advanced circulatory procedures. ALung Technologies Inc., situated in the United States, specializes in the production of artificial organs.

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

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. The countries covered in the medical bionic implant/artificial organs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The realm of medical bionic implants and artificial organs, two primary categories exist such as bionic implants and artificial organs. Bionic implants consist of electronic or mechatronic elements designed to augment or reinstate the physical abilities of individuals with disabilities. These implants vary in fixation methods, including implantable and externally worn options, leveraging electronic and mechanical technologies. They find applications across diverse settings such as hospitals, clinics, research institutes, academic institutions, and beyond.

This report provides medical bionic implant/artificial organs market statistics, including medical bionic implant/artificial organs industry global market size, regional shares, competitors with a medical bionic implant/artificial organs market share, detailed medical bionic implant/artificial organs market segments, market trends and opportunities, and any further data you may need to thrive in the medical bionic implant/artificial organs industry. This medical bionic implant/artificial organs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The medical bionic implant artificial organs market consists of sales of pacemakers, ventricular assist device, artificial limb and fingers, exoskeletons, heart valves. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.