Medical Bionic Implants Market Growth Analysis, Share, Demand by Regions, Types and Analysis of Key Players- Research Forecasts to 2027

Bionic implants are one among the leading technologies for those that suffer from mobility disabilities. they’re generally employed by amputees and other individuals with limited mobility but are getting increasingly popular among patients affected by a variety of various conditions. the foremost common use for medical bionic implants is to exchange prosthetic limbs. Patients affected by strokes, traumatic injuries, or those with endometriosis can often enjoy this technology as these device helps to revive function and ease the pain.

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The high burden of chronic disease including the advancement in medical implants is fueling the expansion of the medical bionic implants market. Moreover, the increasing number of accidents is another key factor augmenting the expansion of the medical bionic implants market. consistent with the Association for Safe International Road Travel, around 1.35 million people die in road crashes each year; on the average 3,700 people lose their lives a day on the roads. a further 20-50 million suffer non-fatal injuries, often leading to long-term disabilities. Additionally, growing age-related disorders like cataracts, deafness , arthritis, and cardiovascular diseases also are propelling the expansion of the market. Furthermore, the increasing prevalence of organ failure in patients is further anticipated to foster the expansion of the medical bionic implants market.

From the regional assessment, North America is projected to realize significant growth over the forecast period and this is often attributed to the increasing launch of innovative medical implants within the region. as an example , in December 2020, Advanced Bionics (AB), a developer of cochlear implant technology, in partnership with Phonak, a provider of life-changing hearing solutions, received FDA approval and announced the launch of Marvel hearing technology to Advanced Bionics cochlear implant wearers.

Key Developments:

1. In November 2020, Konami has partnered with the prosthetic limb designer Open Bionic, to launch a 3D printed bionic arm inspired by the Metal Gear Solid (MGS) computer game character Venom Snake.

2. In January 2021, Advanced Bionics Introduces New Cochlear Implant Sound Processors on Marvel Platform

3. In November 2019, Jumbo Group announced a partnership with Modern Bionic Limb Solutions (MOBILIS) Medical Manufacturing for 3D printing of prosthetic covers, orthosis, hand and leg splints, sockets, and other devices within the UAE and GCC region.

4. In February 2020, UCL has partnered on a £5.2million grant from Wellcome Trust which can establish the new Manufacture of Active Implant and Surgical Instruments (MAISI) facility, located in St Thomas’ Hospital.

Competitive Landscape

Some of the key players operating in the global medical bionic implants market include Terumo Corporation, Ossur Americas, Advanced Bionics AG, Pixium Vision, Cochlear Limited, EKSO Bionics, Orthofix, Nano Retina Inc., Second Sight Medical Products, Inc., Otto Bock, LifeNet Health, Inc., Edwards LifeSciences Corporation, Medtronic Inc., Tibion Corporation, Touch Bionics Limited, and Boston Scientific Corporation.

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