Press Releases

The global medical bionics market was valued at USD 21.1 billion in 2022 and is expected to grow at a CAGR of 8.1% during the forecast period. Healthcare organizations are creating awareness regarding the usage of medical bionics owing to mounting cases of eye problems and limb loss and mounting healthcare spending in developing countries are the major opportunities for the growth of the medical bionics market.

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. In January 2020, 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.  

Implantable category accounted the largest share in the medical bionics market in 2019

On the basis of fixation type, the market is subdivided into implantable and non-implantable. Of all the fixation types, the implantable accounted foremost share in the medical bionics market due to the expanding number of organ failure population and a mounting number of patients electing for organ transplantation.

Geography Insight

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.

Competitive Insight

Some of the key players operating in the global medical bionics market are 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.

Key Takeaway from the Report:

• Among all the product, the orthopedic segment is expected to grow at the fastest rate in the market.
• Of all fixation type, the implantable accounted foremost share in the medical bionics market.

The Report Offers:

• Historical market estimate for the years 2018–2022 and forecast for the years 2023–2030
• Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
• Market insights by in-depth segmentation with industry dynamics.
• Competitive analysis and benchmarking of the industry leaders and their product offerings
• Profiles of leading players and innovators, their financial overview and product portfolio
• Analysis of key industry trends and recent developments
• Value chain analysis and distribution channel analysis with opportunity assessment
• Market share analysis of major players

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The report provides the market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue (USD Billion). The report segments the global medical bionics market on the basis of product, fixation type, and region.

 

Global Medical Bionics Market Coverage

Product Insight and Forecast 2018-2030

• 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
• Vision/Eye
• Others

Fixation Type Insight and Forecast 2018-2030

• Implantable
• Non-Implantable

Geographical Segmentation

Medical Bionics Market by Region

North America

• By Product
• By Fixation Type
• By Country – U.S., Canada, and Mexico

Europe

• By Product
• By Fixation Type
• By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

Asia-Pacific (APAC)

• By Product
• By Fixation Type
• By Country – China, Japan, India, South Korea, Singapore, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Product
• By Fixation Type
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries