The medical bionic implant and exoskeleton market is estimated to be worth US$ 742.0 million in 2023. The market has registered a valuation of US$ 690.2 million in 2022. From 2023 to 2033, the CAGR for the market is a solid 6.3%. By the end of the forecast period, the market is expected to have soared to US$ 1,361.90 million.
Key Analysis in the Medical Bionic Implant and Exoskeleton Market:
Minimally invasive surgeries provide a solid alternative to bionic implants. The emergence of minimally-invasive surgeries is thus marked to impede the growth of the medical bionic implant and exoskeleton market.
| Attributes | Details |
|---|---|
| Market Value for 2023 | US$ 742.0 million |
| Market Value for 2033 | US$ 1,361.90 million |
| CAGR of Market for 2023 to 2033 | 6.3% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The medical bionic implant and exoskeleton market was tipped to be US$ 519.4 million in value in 2018. The market likely progressed at a healthy CAGR of 7.4% from 2018 to 2022.
The popularity of bionic implants as a solution to replace missing body parts rose during the historical period. The pandemic resulted in several people suffering adverse medical conditions. Bionic implants were sought as a resort for people who lost body parts. By the end of the historical period in 2022, the medical bionic implant and exoskeleton market had reached a valuation of US$ 690.2 million.
| Market Valuation (2018) | US$ 519.4 million |
|---|---|
| Historical CAGR (2018 to 2022) | 7.4% |
| Historical Valuation (2022) | US$ 690.2 million |
For 2023, the value of the medical bionic implant and exoskeleton market is anticipated to be US$ 742.0 million. The growth of the market is predicted to be sturdy over the forecast period from 2023 to 2033, with a CAGR of 6.3%.
The popularity of bionic implants as a solution for missing body parts is expected to continue during the forecast period. The incidence of people getting injured or coming upon bodily harm is rising, necessitating bionic implants for proper functioning. Further, the number of people born with missing body parts is also increasing, leading to growth in the consumer base.
The market has to contend with the alternative of surgeries, though. Minimally invasive surgeries are becoming common, and many prefer surgery over bionic implants. By the end of the forecast period in 2033, the value of the market is predicted to have jumped to US$ 1,361.90 million.
Principal Consultant
The medical bionic implant and exoskeleton market can be bifurcated into two segments: product type and distribution channel. Looking at the segments, the body part most required to be replaced by bionic implants becomes clear. The mode through which bionic implants are put into bodies also becomes clear.
Bionic forelimbs/hand implants dominate the medical bionic implant and exoskeleton market. In 2023, bionic forelimbs/hand implants are expected to account for an overwhelming 58.5% of the market share by product type.
The loss of hands, whether partial or complete, can considerably constrict the functioning of people. Thus, the help of bionic forelimbs/hand implants is sought to replace missing hands or forelimbs. Injuries and accidents resulting in damage to arms also contribute to the prevalent demand for bionic forelimbs/hand implants.
| Attributes | Details |
|---|---|
| Top Product Type | Bionic Forelimbs/ Hand Bionics |
| Market Share in 2023 | 58.5% |
Prosthetic bionics hold a significant share of the market. In 2023, prosthetic bionics are anticipated to have a whopping 80.7% market share by distribution channel.
Prosthetic bionic limbs help connect the mind and the body, allowing for better functioning. Thus, the popularity of prosthetic bionics is marked to continue unabated in the future.
| Attributes | Details |
|---|---|
| Top Distribution Channel | Prosthetic Bionics |
| Market Share in 2023 | 80.7% |
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The Asia Pacific is marked to be the region where the growth of the medical bionic implant and exoskeleton market is expected to be high. The region's rising population is one of the driving factors for the expected growth of the market in the region.
North America and Europe are two regions where the market has established a foothold. The progress in the two regions is marked to be slower than in the Asia Pacific, but opportunities still exist.
| Countries | CAGR (2023 to 2033) |
|---|---|
| United States | 2.8% |
| India | 9.4% |
| United Kingdom | 4.1% |
| Germany | 3.8% |
| China | 8.1% |
For the 2023 to 2033 forecast period, the CAGR for the United States is anticipated to be a consistent 2.8%. The increase in amputees as a result of accidents and injuries is leading to people in the United States resorting to bionic implants. However, there have also been controversies in the United States regarding bionic implants.
For example, Advanced Bionics LLC had to pay United States authorities US$ 11.36 million for certain misleading information provided regarding the entity's cochlear implants. Thus, while there is opportunity for the market in the United States, there are also specific challenges.
India is one of the most promising countries for the market. For the forecast period, the CAGR of India is projected to be an encouraging 9.4%.
The popularity of sports activities is increasing in India, which is aided by government initiatives. The rise in people actively participating in sports also leads to sports injuries. In addition, paralympic athletes who take the help of bionic implants are also gaining visibility in the country.
China is another Asian country where the market is expected to flourish. For the forecast period, the CAGR for China is projected to be a promising 8.1%.
The rise in the industrial landscape of China has also led to an increase in workplace injuries. Challenges such as operating heavy machinery are leading to accidents in China. Thus, the market is seeing many customers in the country.
The United Kingdom holds a moderate potential for the market. For the 2023 to 2033 period, the CAGR for the market in the United Kingdom is a steady 4.1%.
Technological advancements are endearing bionic implants to consumers in the United Kingdom. People in the United Kingdom are intrigued with technological innovations like mind-controlled and 3D-printed bionic implants.
Germany is another European country showing promise for the market. For the 2023 to 2033 period, the CAGR for Germany is estimated to be an average of 3.8%.
The population of Germany is aging fast. The rising senior population ensures the number of patients with damaged organs remains high in Germany. Thus, there is consistent demand for bionic implants in Germany.
The market for medical bionic implants and exoskeletons is relatively fragmented. Key players are implementing the strategy of partnerships and collaborations to have a competitive edge. Technology plays a key role when market players look for ambitious product improvements. By investing in technology, market players can measure implants' efficiency and functioning.
Recent Developments in the Medical Bionic Implant and Exoskeleton Market
The size of the market is estimated to be US$ 742.0 million in 2023.
The CAGR of the market is likely to record a growth of 6.3% from 2023 to 2033.
The market is expected to reach a valuation of US$ 1,361.90 million in 2033.
Otto Bock Inc., DJO Global Inc., and Ekso Bionics are prominent players in the market.
Mind-controlled bionic implants and the rise of sports injuries.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2023 to 2033 5.3.1. Bionic Forelimbs/Hand Bionics 5.3.1.1. Wrist Bionics 5.3.1.2. Bionic Elbow Braces 5.3.1.3. Bionic Limbs 5.3.1.4. Bionic Fingers 5.3.2. Bionic Legs/Lower Limbs 5.3.2.1. Bionic Knee Braces 5.3.2.2. Ankle Bionics 5.3.2.3. Bionic Foot Below Knee 5.3.3. Exoskeletons & Suits 5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Mode 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Mode, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Mode, 2023 to 2033 6.3.1. Prosthetic Bionics 6.3.2. External Bionics 6.4. Y-o-Y Growth Trend Analysis By Mode, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Mode, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Product 8.2.3. By Mode 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Product 8.3.3. By Mode 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Product 9.2.3. By Mode 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product 9.3.3. By Mode 9.4. Key Takeaways 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. UK 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Product 10.2.3. By Mode 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product 10.3.3. By Mode 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Product 11.2.3. By Mode 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product 11.3.3. By Mode 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Product 12.2.3. By Mode 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product 12.3.3. By Mode 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Product 13.2.3. By Mode 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product 13.3.3. By Mode 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Product 14.2.3. By Mode 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product 14.3.3. By Mode 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Product 15.1.2.2. By Mode 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Product 15.2.2.2. By Mode 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Product 15.3.2.2. By Mode 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Product 15.4.2.2. By Mode 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Product 15.5.2.2. By Mode 15.6. UK 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Product 15.6.2.2. By Mode 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Product 15.7.2.2. By Mode 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Product 15.8.2.2. By Mode 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Product 15.9.2.2. By Mode 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Product 15.10.2.2. By Mode 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Product 15.11.2.2. By Mode 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Product 15.12.2.2. By Mode 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Product 15.13.2.2. By Mode 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Product 15.14.2.2. By Mode 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Product 15.15.2.2. By Mode 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Product 15.16.2.2. By Mode 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Product 15.17.2.2. By Mode 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Product 15.18.2.2. By Mode 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Product 15.19.2.2. By Mode 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Product 15.20.2.2. By Mode 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Product 15.21.2.2. By Mode 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2022 15.22.2.1. By Product 15.22.2.2. By Mode 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2022 15.23.2.1. By Product 15.23.2.2. By Mode 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Product 16.3.3. By Mode 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Otto Bock Inc. 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. DJO Global Inc. 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Ossur Corporate 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Ekso Bionics 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Rex Bionics Ltd. 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Alter G 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. ReWalk Robotics 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Invacare 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. Hill-Rom Services 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Medtronic PLC. 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 17.1.11. Mobius Bionics. 17.1.11.1. Overview 17.1.11.2. Product Portfolio 17.1.11.3. Profitability by Market Segments 17.1.11.4. Sales Footprint 17.1.11.5. Strategy Overview 17.1.11.5.1. Marketing Strategy 17.1.11.5.2. Product Strategy 17.1.11.5.3. Channel Strategy 17.1.12. Boston Scientific Corporation 17.1.12.1. Overview 17.1.12.2. Product Portfolio 17.1.12.3. Profitability by Market Segments 17.1.12.4. Sales Footprint 17.1.12.5. Strategy Overview 17.1.12.5.1. Marketing Strategy 17.1.12.5.2. Product Strategy 17.1.12.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Healthcare Insights
View Reports
Medical Bionic Implant and Exoskeleton Market
