Artificial organs are man-made implants that are integrated in human body to imitate the function of original organ. In addition, bionics is a collaboration of electronics and biology. Medical bionics are robotic substitute of other parts of body. These bionics mimics the function of natural biological systems. The need of these artificial organs and bionics is to function as normal organ when existing natural system fails to function in a desired manner. Medical bionics can be used in hearing, brain stimulation and vision. In recent years, the global medical bionic implant /artificial organs market have witnessed drastic growth due to rise in waiting list of patients requiring organ transplantation and shortage of donors organs.
Factors driving the market growth are rise in organ failure, increasing injuries and accidents, occupational disabilities that demand medical bionic for improvement of the problem. Moreover, technological advancement and adoption of organ transplantation are fuelling the growth of the market. However, lack of skilled personnels, high cost of devices and uncertain reimbursement scenarios in different regions are restraining the growth of the market. The opportunities for the market are rise in income and increasing awareness in emerging economies.
The report segments the market by product type, method of fixation, technology and geography. On the basis of product type, market is segmented to artificial organ and bionic implants. Artificial organs market is further divided to artificial heart, total artificial heart (TAH), artificial kidney, artificial liver, haemodialysis machines, insulin pumps, artificial pancreas, artificial lungs, and oxygenators. In addition, medical bionics implants are segmented to ear bionics (cochlear implants), vision bionics, orthopaedic bionics, heart bionics, neural /brain bionics and biological tissue valves. By method of fixation, the market can be segmented as implantable and externally worn. In terms of technology, market is segmented to electronic and mechanical replacement. Geographically, market is analysed in North America, Europe, Asia-Pacific and LAMEA.
Healthcare giants such as Pixium Vision received CE mark approval for IRISII bionic vision system in July 2016. Moreover, in March 2016 Cochlear Ltd., launched Cochlear Baha 5 Power and Baha 5 SuperPower that are bone conduction sound processors. Other market players are undergoing mergers, collaborations and approvals for the development of the market.
Some of the key market players are Orthofix International N.V., Touch Bionics Inc., Cochlear Ltd., Biomet, Inc., Second Sight Medical Products, Inc., Ekso Bionics, St. Jude Medical, Inc., Lifenet Health Inc., BionX Medical Technologies, Inc. and Otto Bock Inc.
KEY MARKET BENEFITS:
This report provides the quantitative analysis of the current market and estimations which assists in identifying the prevailing market opportunities.
This report provides an extensive analysis of the current and emerging market trends and dynamics in the global medical bionic implant /artificial organs market.
Geographically, the medical bionic implant /artificial organs market is analyzed based on various regions.
Comprehensive analysis of factors that drive and restrict the growth of the global medical bionic implant /artificial organs market is provided.
An in-depth analysis of current research and clinical developments within medical bionic implant /artificial organs market is provided with key market dynamic factors that helps in understanding the behaviour of the market.
Key market players within medical bionic implant /artificial organs market are profiled in this report and their strategies are analysed thoroughly, which helps in understanding competitive outlook of global medical bionic implant /artificial organs.
Medical Bionic Implant/Artificial Organs Market Report Highlights
By Product Type
By Method of Fixation
Key Market Players
Orthofix International N.V., St. Jude Medical, Inc., Biomet, Inc., BionX Medical Technologies Inc., Touch Bionics Inc., Second Sight Medical Products, Inc., Otto Bock Inc., Cochlear Ltd., Lifenet Health Inc., Ekso Bionics