Global Medical Bionic Implants Market worth $17.82 Billion by 2017
The report “Medical Bionic Implant Market - (Vision Bionics/Bionic Eye, Brain Bionics, Heart Bionics/Artificial Heart, Orthopedic Bionics and Ear Bionics) – Trends and Global Forecasts to 2017” analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, and Rest of the World (RoW). Browse 127 market data tables and 14 figures spread through 298 pages and in-depth TOC of “Medical Bionic Implant (Artificial Organs) Market - (Vision Bionics/Bionic Eye, Brain Bionics, Heart Bionics/Artificial Heart, Orthopedic Bionics and Ear Bionics) – Trends and Global Forecasts to 2017”. http://www.marketsandmarkets.com/Market-Reports/medical-bionic-implant-market908.html Early buyers will receive 10% customization in this report.
Bionics is mechanical/electronic replacement or enhancement of organs/parts of living organisms. The medical bionic implant/artificial organs market is a potentially growing one with a global market of $12.67 billion in 2012. It is expected to grow at a CAGR of 7.1% to reach $17.82 billion in 2017. The global medical bionic implants/artificial organs market has been segmented as vision bionics, ear bionics, orthopedic bionics, heart bionics, and neural/brain bionics. Vision bionics consists of the bionic eye; ear bionics includes cochlear implants and BAHA; orthopedic bionics includes bionic limb, bionic finger, exoskeleton and electrical bone growth stimulators; heart bionics comprises of pacemakers, TAH, ventricular assist devices, and artificial heart valves; and neural/brain bionics consists of deep brain stimulator, vagus nerve stimulator, and spinal cord stimulator.
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Based on technology, medical bionic implants are divided into two groups - mechanical bionics and electronic bionics. In addition, depending upon the type of fixation, they are classified as externally worn and implantable.. New and improved technologies, increasing organ failure owing to aging and age-related disorders, increasing accidents and injuries leading to amputations, and rise in number of people awaiting organ transplants are the major drivers slated to propel the growth of this market. However, a few pivotal factors restraining the growth of this market are high cost of devices and uncertain reimbursement scenarios in different regions, limited surgical expertise, and high cost of development. The opportunities in this market for new entrants include improving income levels, and rising awareness in emerging economies.
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North America dominates the artificial organs market in 2012, followed by Europe. However, the adoption of novel medical bionics as a therapy in emerging markets is gaining momentum at a fast pace due to a growing population and increasing awareness among patients and players. In addition, increasing healthcare expenditure, growing income levels, rising preference for bionics due to better and efficient recovery as compared to prosthetics, growing surgical procedures in lieu with medical tourism, and lesser competition than mature countries, have amplified the interest of market players in emerging markets.
The key players in this market are Orthofix International N.V. (The Netherlands), Biomet, Inc. (U.S.), Medtronic, Inc. (U.S.), Cochlear Ltd. (Australia), Second Sight Medical Products, Inc. (U.S.), Ossur (Iceland), Ekso Bionics (U.S.), and St. Jude Medical, Inc. (U.S.). Enquiry before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=908
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Published on Mar 6, 2014
[298 Pages Report] Artificial Organs Market categorizes the global market on the basis of products, technologies, and type of fixation in Bi...