| Status : Published | Published On : Jun, 2023 | Report Code : VRHC1221 | Industry : Healthcare | Available Format :
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Page : 204 |
Global Medical Bionics Market – Analysis and Forecast (2025-2030)
Industry Insights by Product (Heart [Ventricular Assist Device, Total Artificial Heart, Artificial Heart Valve, and Pacemaker], Ear [Cochlear Implants, Bone Anchored Hearing Systems, Auditory Brainstem Implants], Eye, Orthopedic [Lower Limb {Bionic Foot and Bionic Ankle}, Upper Limb, and Exoskeleton], Brain/neural [Spinal Cord Stimulators, Transcutaneous Electrical Nerve Stimulation, Vagus Nerve Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, and Others], and Others), by Fixation Type (Implantable and Non-Implantable), and by Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
The Global Medical Bionics Market was valued at USD 21.1 billion in 2023 and is expected to reach USD 36.7 billion by 2030, growing at a CAGR of 8.2% during 2025-2030. The global medical bionics market is growing at a significant rate, due to the mounting number of injuries and accidents leading to amputation and technological innovation. Different products such as heart, ear, eye, orthopedic, brain, and others contributed to the medical bionics market size. The market has witnessed a high demand for orthopedic in the coming years due to the escalating number of upper and lower limb amputations.
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Market Segmentation
Insight by Product
On the basis of product, the market is subdivided into the heart, ear, eye, orthopedic, brain/neural, and others. Of all products, the orthopedic segment is expected to grow at the fastest rate in the market due to the escalating number of upper and lower limb amputations. In addition, the heart segment accounted for the foremost share in the global medical bionic market owing to the escalation occurrence of cardiovascular diseases. The heart segment is further sub-segmented into a ventricular assist device, total artificial heart, artificial heart valve, and pacemaker.
Moreover, the brain/neural segment is further subdivided into spinal cord stimulators, transcutaneous electrical nerve stimulation, vagus nerve stimulators, deep brain stimulators, sacral nerve stimulators, and others. The spinal cord stimulators sub-segment accounted for the major share in the brain/neural market. The ear segment is further subdivided into cochlear implants, auditory brainstem implants, and bone-anchored hearing systems.
In addition, the orthopedic segment is further subdivided into the upper limb, exoskeleton, and lower limb. The lower limb is further subdivided into the bionic foot and bionic knee.
Global Medical Bionics Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
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Base Year Considered |
2024 |
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Forecast Period |
2025 - 2030 |
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Market Size in 2023 |
U.S.D. 21.1 Billion |
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Revenue Forecast in 2030 |
U.S.D. 36.7 Billion |
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Growth Rate |
8.2% |
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Segments Covered in the Report |
By Product and By Fixation Type |
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Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, South America and Rest of the World |
Industry Dynamics
Industry Trends
Mounting government emphasis on funding research and development initiatives and technologically innovative medical bionics are the trends in the medical bionics market.
Cochlear Implants: These devices are used to restore hearing in individuals with severe to profound hearing loss. Cochlear implants consist of an external sound processor and an internal implant that stimulates the auditory nerve to provide a sense of sound.
Retinal Implants: Retinal implants are designed to restore vision in individuals with certain types of blindness, such as retinitis pigmentosa. These implants replace damaged photoreceptor cells in the retina and stimulate the remaining retinal cells to transmit visual information to the brain.
Artificial Limbs: Prosthetic limbs have been significantly improved with bionic technology. Advanced prosthetics use sensors, microprocessors, and actuators to provide individuals with enhanced control, natural movement, and sensory feedback.
Exoskeletons: These wearable robotic devices assist individuals with mobility impairments by providing powered assistance for walking or performing physical tasks. Exoskeletons can be used in rehabilitation settings or as assistive devices for individuals with spinal cord injuries or muscle weakness.
Brain-Computer Interfaces (BCIs): BCIs enable direct communication between the brain and external devices. They can be used to control bionic limbs, assistive technology, or even interact with computers or other devices using neural signals.
Growth Drivers
The mounting of the number of injuries and accidents leading to amputation, the escalating the number of the population adopting organ transplant, and expanding the geriatric population leading to organ failure are the primary growth drivers for the medical bionics market.
- Increasing prevalence of chronic diseases
- Advancements in medical technology
- Growing aging population
- Increasing preference for implantable devices
- Rising demand for bionic limbs
- Development of new bionic devices for neurological disorders
- Growing focus on personalized medicine
The mounting of the occurrence of chronic diseases, technological innovation, and escalating healthcare expenditure are also facilitating the growth of the medical bionics market. The medical bionics market is a dynamic and rapidly growing market. The market is expected to witness significant growth in the coming years due to the factors mentioned above.
Challenges
Lack of skilled professionals, the elevated cost of devices and procedure, strict approval process, unfavorable reimbursement scenario, and disapproval related to artificial organ transplants are the major challenges for the growth of the medical bionics market.
Geographic Overview
Geographically, North America is the largest medical bionics market as in the region the occurrence of chronic disease is mounting. In addition, expanding the geriatric population, escalating government emphasis on funding and R&D initiatives, and mounting the number of injuries and accidents leading to amputation are also up surging growth of the North American medical bionics market.
Asia-Pacific is observed to witness the fastest growth in the market, due to expanding the geriatric population and mounting the occurrence of road accidents. In addition, increasing healthcare spending and mounting the occurrence of chronic diseases such as diabetes and cardiovascular diseases are also creating a positive impact on the medical bionics market growth in the region.
Competitive Insight
Key players in the medical bionics market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe.
Recent Developments by Key Players
Abbott Laboratories received expanded clearance from the FDA for the Infinity Deep Brain Stimulation (DBS) system, which allows targeted stimulation of the brain associated with Parkinson’s disease symptoms.
Medtronic plc, received FDA clearance for Micra AV, for the treatment of patients with AV block. Medtronic, Plc., Cochlear, Ltd., Abbott Laboratories, Boston Scientific Corporation, Second Sight Medical Products, Inc., Edwards Lifesciences Corporation, Advanced Bionics, LivaNova PLC, Orthofix International N.V., and LifeNet Health are the key players offering medical bionics.
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.
The Medical Bionics Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Product
- Heart
- Pacemaker
- Ventricular Assist Device (VAD)
- Artificial Heart Valves
- Total Artificial Heart
- Neural/Brain
- Spinal Cord Stimulators (SCSs)
- Deep Brain Stimulators (DBSs)
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Sacral Nerve Stimulators (SNSs)
- Vagus Nerve Stimulators (VNSs)
- Others
- Ear
- Cochlear Implants
- Bone Anchored Hearing Systems
- Auditory Brainstem Implants
- Orthopedic
- Lower Limb
- Bionic Foot
- Bionic Knee
- Upper Limb
- Exoskeleton
- Lower Limb
- Vision/Eye
- Others
- Heart
- By Fixation Type
- Implantable
- Non-Implantable
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
.png "Medical Bionics Market Size")
Source: VynZ Research
Source: VynZ Research
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Medical Bionics Market