Bionic Implants Market Report By Size, Business Opportunities and Competitive Analysis 2026

Posted February 15, 2022 by swatitiwari_11

Heightened cases of disabilities and organ failures have garnered tremendous popularity for bionic implants.

Heightened cases of disabilities and organ failures have garnered tremendous popularity for bionic implants. As their application restores and augments physical functions among persons with disabilities, these mechanical parts have become extremely sought after. The bionic implant industry is constantly undergoing transformations and innovations. An astounding example of this can be robotic exoskeletons. Simply put, these are electromechanical structures for patients to experience ‘motorized muscles’. Patients with limited or no muscle control can use these powered suits to perform mobility functions like walking and lifting. Such technological developments are expected to make a huge impact upon the market for bionic implants. This is due to the effective rehabilitation it provides for patients recovering from spinal injuries or strokes as well as for those suffering from degenerative neuromuscular diseases like amyotrophic lateral sclerosis.

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Increasing Instances of Disabilities Qualify as a Major Driver of Growth for the Bionic Implants Market

Bionic manufacturing has been established along four key application capacities: hearing, orthopaedics, vision, and a small group of implants that enhance neurological and cardiac functions. A primary reason for the market growth of bionic implants is the shortage of original biologically compatible implants. As instances of accidents and organ failures skyrocket, it has become increasingly difficult to match biological organs of donors and receivers.

The bionic implants market can be segmented into ear, orthopaedics and cardiac bionics. By location of implant, they can be classified into externally worn and implantable. According to the World Health Organization, approximately 15% of the world’s population is living with some form of physical disability, and about 190 million adults have a major functional difficulty. Moreover, as medical technology develops, surgeries seem more reliable to people. This has made the global population very accepting of transplants. This combination of increased cases of disabilities and willingness of people to invest in bionic implants have become major drivers of market growth for the same.
Furthermore, expanding expenditure upon healthcare and development of new healthcare amenities in developing economies are facilitating growth opportunities for the medical bionic implants market.

Established Market for Bionic Implants in North America Invites Rapid Development across Countries of the Asia Pacific Region

Regionally, North America can be classified to have the most established market for bionic implants. Causes of this can include the high score of patient awareness, efficient R&D initiatives by the government, and increasing trust upon technologically-advanced equipment.
Asia Pacific region is projected to see vigorous growth during the estimated forecast period. Fast developing regions of China and India, that are investing in increasing patient awareness levels, are responsible for sturdy growth of the bionic implants market in this region.

Increasing Demand Coerces Competitive Business Strategies from Key Market Players

The major medical bionic implants market players are Biomet, Inc., Medtronic, Inc., Ossur, Ekso Bionics, Cochlear Ltd, Second Sight Medical Products, Inc., Orthofix International N.V., and St. Jude Medical, Inc. These companies are involved in developing novel technologies and products in order to maintain their market share. Increasing procedural volumes and green signals from government are expected to motivate the market players into developing intensive market capturing strategies.

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Issued By Fairfield Market Research
Country United Kingdom
Categories Business , Medical
Tags bionic eye , bionic eye implant cost , bionic implants , bionic limbs , bionics
Last Updated February 15, 2022