The alternative or augmentation of failing human organs with artificial gadgets and structures has been an important detail in health care for several decades. Such devices as kidney dialysis to reinforce failing kidneys, synthetic coronary heart valves to replace failing human valves, cardiac pacemakers to reestablish everyday cardiac rhythm, and heart help devices to augment a weakened human heart have assisted thousands and thousands of patients in the preceding 50 years and gives lifesaving generation for tens of lots of patients every year.
The Medical Bionic Implant/Artificial Organs Market accounted to USD 16.63 billion in 2016 growing at a CAGR of 7.3% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Medical Bionic Implant/Artificial Organs Market
Bionics is combination of biology and electronics. Implants or artificial organs are special type of devices or prosthetics which are implanted in human body to reproduce the function original organ. The vital necessity of such organ is to function as normal organ. Medical bionics are substitute or improvement of other body parts with robotic versions. Medical bionic implants are diverse from artificial organ, they impersonate original function very thoroughly or even do better than it.
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Major market drivers and restraints: Global Medical Bionic Implant/Artificial Organs Market
- Technological advancements in bionics implants
- Rise in organ failure due to aging & age-related disorders
- Increasing accidents & injuries leading to amputations
- Rise in the cases of organ transplants
- High prices of devices
- Severe reimbursement procedures
- Lack of skilled professionals
Market Segmentation: Global Medical Bionic Implant/Artificial Organs Market
The medical bionic implant/artificial organs market is segmented by product into vision bionics, ear bionics, orthopedic bionics, heart bionics and neural/brain bionics. Vision bionics is sub segmented into bionic eye. Ear bionics is sub segmented into cochlear implant and bone anchored hearing aid (BAHA). Orthopedic bionics is sub segmented into bionic limb, bionic finger, exoskeleton and electrical bone growth stimulators. Bionic limb is further segmented into bionic hand and bionic leg. Bionic leg is again sub segmented into bionic knee and bionic feet. Electrical bone growth stimulators are sub segmented into invasive bone growth stimulators and non-invasive bone growth stimulators. Heart bionics is sub segmented into pacemaker, total artificial heart, ventricular assist device and artificial heart valve. Pacemaker is further sub segmented into implantable cardiac pacemaker and external pacemaker. Artificial heart valve is further sub segmented into mechanical heart valve and tissue heart valve. Neural/brain bionics is further sub segmented into deep brain stimulator, vagus nerve stimulator and spinal cord stimulator.
By technology the market is segmented into electronic bionics and mechanical.
By type of fixation the market is segmented into externally worn & implantable.
On the basis of geography, medical bionic implant/artificial organs market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Medical Bionic Implant/Artificial Organs Market
The medical bionic implant/artificial organs market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical bionic implant/artificial organs market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Medical Bionic Implant/Artificial Organs Market
Some of the major players operating in medical bionic implant/artificial organs market are ABIOMED, Berlin Heart, Zimmer Biomet, Cochlear Ltd., Edwards Lifesciences Corporation, Ekso Bionics, HeartWare, BionX Medical Technologies, Inc., Jarvik Heart, Inc., LifeNet Health, MED-EL, Medtronic, Rainbow Medical Group, Össur Americas, Orthofix Holdings, Inc., Ottobock, SECOND SIGHT, Abbott, Sonova, LivaNova PLC, Terumo Corporation, PixelMEDIA, AlterG, Inc., Touch Bionics Inc. and Touch Bionics Limited and Boston Scientific Corporation among others.
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