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 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 market size of global medical bionic implant/artificial organs market is expected to grow to $29.61 billion in 2027 at a CAGR of 6.9%.

Asia-Pacific was the largest region in the medical bionic implant/artificial organs market share in 2022.

Medical Bionic Implant Or Artificial Organs Market Driver
The rise in traffic accidents and injuries is predicted to drive the medical bionic implant/artificial organs market forward. An incident on a public road that results in an accident and injuries to the victim is referred to as a road accident and injuries. Artificial organ and tissue replacements are used to treat organ damage caused by stressful events such as car accidents, violent crimes, work-related injuries, or difficult births. For example, according to data from the National Highway Traffic Safety Administration, a US-based government organisation, over 42.9 thousand individuals died in motor vehicle accidents in 2021, up from 38.8 thousand in 2020. As a result, the surge in traffic accidents and injuries is propelling the medical bionic implant/artificial organs industry forward.

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Prominent Medical Bionic Implant Or Artificial Organs Market Trend
Strategic collaborations are a common trend in the medical bionic implant/artificial organs business. Many firms in the medical bionic implant/artificial organs market are forming alliances to boost their market position. For example, in September 2021, Bionic Vision Technologies (BVT), an Australia-based business specialising in artificial organs, entered into an undisclosed agreement with Cirtec Medical, a US-based provider of outsourced medical device and component design, engineering, and production. Cirtec would help BVT develop and manufacture its next-generation bionic eye through this cooperation by acquiring a strategic share in the Australian company. Furthermore, for an undisclosed sum, HUMOTECH, a US-based research services firm specialising in artificial organs, joined with the University of Michigan, a US-based public research university, in February 2022. This collaboration intends to speed the development of bionic leg control software, which could provide prosthetic users with the strength and natural gait of a human leg. As part of this collaboration, HUMOTECH creates updated versions of the open-source leg for prosthesis users and researchers.

Medical Bionic Implant Or Artificial Organs Market Prominent Players
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.

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Key Medical Bionic Implant Or Artificial Organs Market Segments
The global medical bionic implant or artificial organs market 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

The Medical Bionic Implant Or Artificial Organs Global Market Report 2023  provides a comprehensive overview on the medical bionic implant or artificial organs market size, trends and drivers, opportunities, strategies, and companies 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

View More Related Reports –
Medical And Diagnostic Laboratory Services Global Market Report 2023
Medical Equipment Global Market Report 2023
Implantable Biomaterials Global Market Report 2023

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