The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s medical bionic implant or artificial organs market report forecasts the medical bionic implant or artificial organs market size to grow to $29.61 Billion by 2027, with a CAGR (compound annual growth rate) of almost 7%.

Learn More On The Medical Bionic Implant Or Artificial Organs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/medical-bionic-implant-or-artificial-organs-global-market-report

Medical Bionic Implant Or Artificial Organs Market Size Forecast
The global medical bionic implant or artificial organs market is expected to grow from $21.03 billion in 2022 to $22.69 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical bionic implant/artificial organs market size is expected to grow to $29.61 billion in 2027 at a CAGR of 6.9%.

Asia-Pacific held the largest medical bionic implant or artificial organs market share.

Key Medical Bionic Implant Or Artificial Organs Market Driver ­– Rise In Road Accidents And Injuries
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, which was 38.8 thousand, a 10.5% more in 2020. Therefore, the rise in road accidents and injuries is driving the growth of the medical bionic implant/artificial organs market.

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Key Medical Bionic Implant Or Artificial Organs Market Trend – Strategic Partnerships
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.

Medical Bionic Implant Or Artificial Organs Market Segment
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

Medical Bionic Implant Or Artificial Organs Market Major Players and Strategies
Major players in the medical bionic implant or artificial organs market 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, and Wright Medical Group N.V.

In May 2022, LivaNova PLC, a UK-based medical device manufacturer, acquired ALung Technologies, Inc. for an undisclosed amount. This acquisition is expected to have a neutral impact on adjusted diluted earnings per share in 2022. This would continue to invest in the strategic portfolio initiatives, the phased launch of the next-generation heart-lung machine, Essenz, and expanded indications in advanced circulatory. ALung Technologies Inc. is a US-based company that manufactures artificial organs.

The Medical Bionic Implant Or Artificial Organs Global Market Report 2023 covers regional data on medical bionic implant or artificial organs market size, medical bionic implant or artificial organs market trends and drivers, opportunities, strategies, and medical bionic implant or artificial organs market competitor analysis. The countries covered in the medical bionic implant or artificial organs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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.

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