Medical Bionic Implant/Artificial Organs Industry Insight
Global medical bionic implant/artificial organs market 2020 are riding high as the medical trades at record prices, and are incredibly showing positive approach and growth prospects in the forecast period (2018–2023). During this period, the market will be attaining a growth rate of 7.0%, and by this, immense growth will be achieved.
Medical Bionic Implant/Artificial Organs Market Growth Boosters & Decliners
Presently, medical bionic implant and artificial organs global market is driven by the fact that large numbers of patients require organ transplantation. The growing advancements in medical technologies are also fueling the global medical bionic implant and artificial organs market.
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Emerging public awareness about assorted diseases, advancements in medical bionic implant and artificial organ procedures, and the requirement for screenings conducted for early diagnosis and treatment of different diseases are also probable to goodwill the global medical bionic implant and artificial organs market in the future. Expiring of the patents of 3D printing might also play pivotal development in 3D printing of artificial organs.
Apart from this, with quick technological advancement, rapid technological advancements in the medical field, ever-escalating medical bionics implants, and artificial organs demand, the global medical bionic implant and artificial organs market is anticipated to have dynamic development in the forecast period.
On the contrary, the factor of the elevated cost linked with organ transplant procedure and cost of medical bionics act as a limit for global medical bionic implant and artificial organs market.
Medical Bionic Implant/Artificial Organs Market Segment Review
The global medical bionic implant/artificial organs market has been studied among the segments of technology, product, fixation, and end-user.
Technology-wise, the market is classified as mechanical bionics and electronic bionics.
Product-wise, the market is classified as ear bionics, neural/brain bionics, vision bionics, heart bionics, orthopedic bionics, and others. Vision bionics are then again segmented as bionic eye and others. Ear bionics are further segmented as a cochlear implant, and Bone Anchored Hearing Aid (BAHA).
Fixation-wise, the market has included implantable and externally worn.
End-user wise, the market has included research and academic institutes, hospitals and clinics, and others.
Medical Bionic Implant/Artificial Organs Market Regional Framework
The Americas lead the medical bionic implant/artificial organs market owing to the introduction of advanced medical bionic implants by foremost market players. On November 02, 2017, Second Sight Medical Products—a U.S. based company, received the U.S. FDA approval to initiate the Orion Cortical Visual Prosthesis System (Orion) feasibility clinical study. In the year 2013, the company won the FDA approval for the Argus II retinal prosthesis system.
Europe occupies the second position in the medical bionic implant/artificial organs market. Predictably, the government support towards research and development expenditure and escalating cases of organ failure and related complications are liable to motivate the European market.
The Asia Pacific is the fastest-growing medical bionic implant/artificial organs market owing to a massive patient pool, development in the healthcare technology, and escalating demand for advanced treatments. Healthcare expenditure is found to be advancing in various Asia Pacific regions. Prominent data presented by the Australian Institute of Health and Welfare from 2015 to 2016, the whole health expenditure was USD 170.4 billion, which is 3.6% elevated than the expenditure from 2014 to 2015.
The Middle East and Africa occupy the buck share of the global market owing to lack of technical knowledge, low development, and inadequate medical facilities.
Medical Bionic Implant/Artificial Organs Market Vendors Landscape
Some top vendors in the global medical bionic implant/artificial organs market are listed as Biomet, Inc. (U.S.), Biocontrol Medical (Israel), Cochlear Ltd. (Australia), Boston Scientific Corporation (U.S.), Ekso Bionics (U.S.), Cyberonics, Inc. (U.S.), Medtronic, Inc. (U.S.), LivaNova PLC (U.K), Orthofix International N.V. (The Netherlands), NeuroPace, Inc. (U.S.), Second Sight Medical Products, Inc. (U.S.), Ossur (Iceland), and St. Jude Medical, Inc. (U.S.).
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
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