Global Medical Bionic Implants Market Worth $17.82 Billion by 2017
DALLAS, November 30, 2012 /PRNewswire/ –
The “Medical Bionic Implants Market [Vision, Brain, Heart, Orthopedic & Ear] – Trends
& 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 127market data tables and 14 figures spread through 298 pages and in-depth TOC
of “Medical Bionic Implants Market [Vision, Brain, Heart, Orthopedic & Ear] – Trends &
Global Forecasts to 2017″.
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This report studies the global medical bionic implants market over the forecast period
of 2012 to 2017.
Bionics involves the study of biological systems in order to develop artificial
systems that can replicate their functions. Bionic implants are mechanical or electronic
systems that function like living organisms or parts of living organisms. Bionics, when
extended to the field of medicine, seeks to replace or enhance organs or parts of the
human body using artificial prosthesis. The market is expected to grow at a CAGR of 7.1%
from 2012 to 2017 to reach $17.82 billion by 2017.
The global medical bionic implants market is divided into five categories based on the
type of products, technology used, and type of fixation. It includes vision bionics, ear
bionics, orthopedic bionics, heart bionics, and neural/brain bionics. Medical bionics in
pipeline include wearable artificial kidney, bio-lung, and artificial pancreas. The
technology segment comprises of electronic and mechanical bionics, while medical bionic
implants are classified as externally worn and implantable based on the type of fixation.
The medical bionic implants market
has witnessed a myriad of technological advancements over the past two decades. It is
expected that this trend will continue in the future in a bid to solve present challenges
and fill unmet needs of the market. Manufactures are now focusing on the development of
bionic implant products such as wearable artificial kidney, bio-lung, and artificial
pancreas for diseases that cannot be cured with alternative treatment methods.
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 growth are the high cost of devices and uncertain
reimbursement scenarios in different regions, limited surgical expertise, and high cost of
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