In medicine, a bionic refers to an artificial robotic body part. Bionic implanting is a method of replacing or enhancing the functionality of an organ by replacing it with robotic part(s). With the advent of improved technology, it has become possible to implement the use of robotics in human organs. The medical bionic implants market is advancing and has witnessed growth in the last two decades and is expected to grow further in the future.
The global bionic implant market is segmented into a variety of categories based on type of product, technology used, and the type of implant. It includes -
- Heart Bionics
- Orthopedic Bionics
- Ear Bionics
- Vision Bionics
- Medical bionics which includes artificial kidneys, bio-lungs and artificial pancreas
The technology segment comprises of electronic and mechanical bionics, while medical bionics is classified into externally worn and implantable based on the type of fixation.
People all over the world suffer from various disorders related to a variety of body organs. Increase in population, road accidents, and the global aging population are some of the factors driving this market. With rising incomes and expenditure on healthcare services, the demand for such replaceable organs increased and currently this market holds great potential. However, some of the factors which restrain the growth of this technology are the high cost of treatment, expensive devices, and limited surgical expertise. Countries like the U.S., the U.K. and many others are heavily funding research and development of this technology. Doctors have successfully implanted bionic parts for eyes, arms, and kidneys. Asia-Pacific and the rest of the world hold huge potential for this market.
Some of the major companies in this market are LifeNet Health U.S., Terumo Corporation, Össur U.S.., EKSO Bionics, Nano Retina Inc., Israel, Second Sight Medical Products, Edwards LifeSciences Corporation, Medtronic Inc. Tibion Corporation, Touch Bionics Limited, Otto Bock Healthcare, Orthofix International U.S.A., and the Boston Scientific Corporation among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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