Increasing Incidence of Organ Failure Drives Growth of Global Medical Bionic Implant Market

A new research study by Transparency Market Research (TMR) on the global medical bionic implant market states that the increasing incidence of organ failure and accidents and injuries leading to organ amputations are the key factors fueling the demand for medical bionic implants in the global arena.

The research report, titled “Medical Bionic Implant Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2012 – 2018,” further states that advancements in technologies utilized in medical bionic implants have also propelled this market significantly over the last few years.

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The report discusses the challenges faced by the global medical bionic implant market. According to it, the high cost associated with the implant devices, together with the dearth of skilled professionals and ambiguous reimbursement scenarios in various regions, is likely to limit the growth of this market in the coming years. However, benefits such as efficient recovery compared to prosthetics, offered by these implants and the increase in the disposable income of people globally are likely to boost the worldwide medical bionic implant market during the forecast period, notes the research study.

In this report, the global market for medical bionic implants has been studied on the basis of the type of product, the method of fixation, and the technology utilized. Based on the type of product, the report segments the market into ear bionics, heart bionics, vision bionics, orthopedic bionics, and other medical bionics such as bio-lungs, artificial kidneys, and artificial pancreas.

By the method of fixation, the market has been classified into externally worn bionics and implantable bionics. By the technology utilized, the report has categorized the market into electronic bionics and mechanical bionics.

The report also studies the global market for medical bionic implants on the basis of its regional distribution and identifies North America, Asia Pacific, Europe, and the Rest of the World as the key regional markets for medical bionic implants. The regional markets are expected to register steady growth over the forecast period, state the report.

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The competitive landscape of the global medical bionic implant market has also been presented in this report. The study has analyzed the company profiles of the key market participants to provide an overview of the prevailing competition in the market. As per the report, The Boston Scientific Corp., Orthofix International U.S.A., Otto Bock Healthcare, Touch Bionics Ltd., Tibion Corp., Medtronic Inc., Edwards LifeSciences Corp., Second Sight Medical Products, Nano Retina Inc., EKSO Bionics, Össur U.S., Terumo Corp., and LifeNet Health U.S. are the major players operating in the market for bionic implants across the world.

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