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Worldwide Medical Bionics Market Analysis & Forecast to 2023: A $28.1 Billion Opportunity

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Worldwide Medical Bionics Market Analysis & Forecast to 2023: A $28.1 Billion Opportunity

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DUBLIN, July 31, 2018 /PRNewswire/ --

The "Medical Bionics Market by Product, by Fixation Type, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013 - 2023" report has been added to ResearchAndMarkets.com's offering.

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Global medical bionics market is forecasted to generate a revenue of $28.1 billion by 2023. The market is mainly driven by increasing pool of geriatric population and associated organ failures, rising number of accidents and injuries leading to amputations, and increasing number of people opting for organ transplants.

The different types of products available in the medical bionics market are heart, neural/brain, ear, orthopedic, vision/eye and other bionics. Among these, heart bionics are expected to attain the largest share in the market, with more than 40% contribution in 2017. This leading position of the category is attributed to increasing cardiac problems globally. For instance, an estimated 17.7 million people died from cardiovascular diseases in 2015, representing 31% of all global deaths. Of these deaths, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke.

On the basis of fixation type, the medical bionics market has been segmented into implantable and non-implantable bionics. Implantable bionics are estimated to hold more than 70% share in the global market in 2017, owing to the increasing number of people opting for organ transplants and rising prevalence of chronic diseases.

APAC is expected to be the fastest growing market for medical bionics

During the forecast period, the medical bionics industry is expected to witness the fastest growth in Asia-Pacific (APAC), owing to the expanding size of diabetic patients, growing aging population, rising number of chronic diseases, increasing healthcare expenditure and per capita income, and mounting research on medical bionics in the region.

Diabetes is one of the major causes of cardiac problems, resulting in the growth of the medical bionics industry in the region. According to Asian Diabetes Prevention Initiative (ADPI), an education website on diabetes, 60% of diabetics in the world live in Asia. It is also expected that without intervention, both China and India together will have almost half a billion of population suffering from diabetes, by 2030.

In APAC countries, there has been an increase in the R&D of medical bionics, which leads to the expansion of the medical bionics market in the region. For instance, in April 2017, Bionic Vision Technologies raised $18 million to develop and commercialize its devices aimed at restoring vision. There is currently no treatment for conditions such as retinitis pigmentosa.

Key players launching new products for market expansion

Globally, key players in the medical bionics market are launching new and technologically improved products to gain a larger market share. For instance, in October 2017, LifeNet Health introduced allograft bone-healing solution, PliaFX strip, that offers optimized handling and effective performance in a convenient and preformed shape. It was the first in a new family of grafts composed of 100% cortical bone fibers, created using an exclusive patented processing technology. This bone-healing solution was developed in order to provide surgeons a graft that has the required precise handling characteristics, without relying on any other type of additive.

In September 2017, Orthofix International N.V. received United States Food and Drug Administration (USFDA) and European Conformit Europene (CE) Mark approval for next generation CervicalStim and SpinalStim bone growth stimulators. These devices are used for the natural body-healing process and provide non-invasive treatment for post-operative spinal fusion.

Also, in the same month, Cochlear Ltd. launched Baha SoundArc, a new hearing solution for people who live with conductive hearing loss, mixed hearing loss, or single-sided sensorineural deafness (SSD). It is a non-surgical behind-the-head band that works together with all of Cochlear's Baha 5 sound processors.

Key Topics Covered

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation By Product
1.3.2 Market Segmentation By Fixation Type
1.3.3 Market Segmentation By Geography
1.3.4 Analysis Period
1.3.5 Market Data Reporting Unit
1.3.5.1 Value
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown Of Primary Research Respondents
2.2.1.1 By Region
2.2.1.2 By Industry Participant
2.2.1.3 By Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions For The Study

Chapter 3. Executive Summary
3.1 Voice Of Industry Experts/Kols

Chapter 4. Introduction
4.1 Definition Of Market Segments
4.1.1 By Product
4.1.1.1 Heart Bionics
4.1.1.1.1 Pacemaker
4.1.1.1.1.1 Implantable
4.1.1.1.1.2 External
4.1.1.1.2 Ventricular Assist Device (Vad)
4.1.1.1.2.1 Left Vad
4.1.1.1.2.2 Right Vad
4.1.1.1.3 Artificial Heart Valves
4.1.1.1.3.1 Mechanical
4.1.1.1.3.2 Tissue
4.1.1.1.4 Total Artificial Heart
4.1.1.2 Neural/Brain Bionics
4.1.1.2.1 Spinal Cord Stimulators (Scss)
4.1.1.2.2 Deep Brain Stimulators (Dbss)
4.1.1.2.3 Transcutaneous Electrical Nerve Stimulation (Tens)
4.1.1.2.4 Sacral Nerve Stimulators (Snss)
4.1.1.2.5 Vagus Nerve Stimulators (Vnss)
4.1.1.2.6 Others
4.1.1.3 Ear Bionics
4.1.1.3.1 Cochlear Implants
4.1.1.3.2 Bone Anchored Hearing Systems
4.1.1.3.3 Auditory Brainstem Implants
4.1.1.4 Orthopedic Bionics
4.1.1.4.1 Upper Limb
4.1.1.4.2 Lower Limb
4.1.1.4.2.1 Bionic Knee
4.1.1.4.2.2 Bionic Foot
4.1.1.4.3 Exoskeleton
4.1.1.5 Vision/Eye Bionics
4.1.1.6 Others
4.1.2 By Fixation Type
4.1.2.1 Implantable
4.1.2.2 Non-Implantable
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Technologically Advanced Medical Bionics
4.2.1.2 Increasing Government Focus On Funding R&D Initiatives
4.2.2 Drivers
4.2.2.1 Increasing Pool Of Geriatric Population And Associated Organ Failures
4.2.2.2 Technological Advancements
4.2.2.3 Increasing Accidents And Injuries Leading To Amputations
4.2.2.4 Rising Number Of People Opting For Organ Transplants
4.2.2.5 Rising Prevalence Of Chronic Diseases
4.2.2.6 Impact Analysis Of Drivers On Market Forecast
4.2.3 Restraints
4.2.3.1 High Cost Of Devices And Associated Procedures
4.2.3.2 Uncertain Reimbursement Scenarios In Different Regions
4.2.3.3 Dearth Of Surgical Experience
4.2.3.4 Stringent Approval Process
4.2.3.5 Fear Of Device Failure Or Malfunction
4.2.3.6 Criticism Associated With Artificial Organ Transplant
4.2.3.7 Impact Analysis Of Restraints On Market Forecast
4.2.4 Opportunities
4.2.4.1 Improving Income Levels In Emerging Economies
4.2.4.2 Increasing Awareness Levels About Medical Bionics
4.3 Porter'S Five Forces Analysis
4.3.1 Bargaining Power Of Buyers
4.3.2 Bargaining Power Of Suppliers
4.3.3 Intensity Of Rivalry
4.3.4 Threat Of New Entrants
4.3.5 Threat Of Substitutes

Chapter 5. Global Market Size And Forecast
5.1 By Product
5.1.1 Heart Bionics Market By Type
5.1.1.1 Pacemaker Market By Type
5.1.1.2 Vad Market By Type
5.1.1.3 Artificial Heart Valves Market By Type
5.1.2 Ear Bionics Market By Type
5.1.3 Orthopedic Bionics Market By Type
5.1.3.1 Lower Limb Bionics Market By Type
5.1.4 Neural/Brain Bionics Market By Type
5.2 By Fixation Type
5.3 By Region

Chapter 6. North America Market Size And Forecast
6.1 By Product
6.1.1 Heart Bionics Market By Type
6.1.1.1 Pacemaker Market By Type
6.1.1.2 Vad Market By Type
6.1.1.3 Artificial Heart Valves Market By Type
6.1.2 Ear Bionics Market By Type
6.1.3 Orthopedic Bionics Market By Type
6.1.3.1 Lower Limb Bionics Market By Type
6.1.4 Neural/Brain Bionics Market By Type
6.2 By Fixation Type
6.3 By Country

Chapter 7. Europe Market Size And Forecast
7.1 By Product
7.1.1 Heart Bionics Market By Type
7.1.1.1 Pacemaker Market By Type
7.1.1.2 Vad Market By Type
7.1.1.3 Artificial Heart Valves Market By Type
7.1.2 Ear Bionics Market By Type
7.1.3 Orthopedic Bionics Market By Type
7.1.3.1 Lower Limb Bionics Market By Type
7.1.4 Neural/Brain Bionics Market By Type
7.2 By Fixation Type
7.3 By Country

Chapter 8. Apac Market Size And Forecast
8.1 By Product
8.1.1 Heart Bionics Market By Type
8.1.1.1 Pacemaker Market By Type
8.1.1.2 Vad Market By Type
8.1.1.3 Artificial Heart Valves Market By Type
8.1.2 Ear Bionics Market By Type
8.1.3 Orthopedic Bionics Market By Type
8.1.3.1 Lower Limb Bionics Market By Type
8.1.4 Neural/Brain Bionics Market By Type
8.2 By Fixation Type
8.3 By Country

Chapter 9. Row Market Size And Forecast
9.1 By Product
9.1.1 Heart Bionics Market By Type
9.1.1.1 Pacemaker Market By Type
9.1.1.2 Vad Market By Type
9.1.1.3 Artificial Heart Valves Market By Type
9.1.2 Ear Bionics Market By Type
9.1.3 Orthopedic Bionics Market By Type
9.1.3.1 Lower Limb Bionics Market By Type
9.1.4 Neural/Brain Bionics Market By Type
9.2 By Fixation Type
9.3 By Country

Chapter 10. Competitive Landscape
10.1 Product Benchmarking Of Key Players
10.2 Global Strategic Developments Of Key Players
10.2.1 Product Launches
10.2.2 Mergers And Acquisitions
10.2.3 Partnerships
10.2.4 Other Developments

Chapter 11. Company Profiles
11.1 Ossur HF
11.1.1 Business Overview
11.1.2 Product And Service Offerings
11.1.3 Key Financial Summary
11.1.4 Strategic Growth Plans
11.2 Cochlear Ltd.
11.2.1 Business Overview
11.2.2 Product And Service Offerings
11.2.3 Key Financial Summary
11.2.4 Strategic Growth Plans
11.3 Medtronic Plc
11.3.1 Business Overview
11.3.2 Product And Service Offerings
11.3.3 Key Financial Summary
11.3.4 Strategic Growth Plans
11.4 Edwards Lifesciences Corporation
11.4.1 Business Overview
11.4.2 Product And Service Offerings
11.4.3 Key Financial Summary
11.4.4 Strategic Growth Plans
11.5 Boston Scientific Corporation
11.5.1 Business Overview
11.5.2 Product And Service Offerings
11.5.3 Key Financial Summary
11.5.4 Strategic Growth Plans
11.6 Ekso Bionics Holdings Inc.
11.6.1 Business Overview
11.6.2 Product And Service Offerings
11.6.3 Key Financial Summary
11.6.4 Strategic Growth Plans
11.7 Lifenet Health
11.7.1 Business Overview
11.7.2 Product And Service Offerings
11.7.3 Strategic Growth Plan
11.8 Retina Implant AG
11.8.1 Business Overview
11.8.2 Product And Service Offerings
11.9 Orthofix International N.V.
11.9.1 Business Overview
11.9.2 Product And Service Offerings
11.9.3 Key Financial Summary
11.9.4 Strategic Growth Plans
11.1 Otto Bock Holding Gmbh & Co. KG
11.10.1 Business Overview
11.10.2 Product And Service Offerings

For more information about this report visit https://www.researchandmarkets.com/research/rdz53l/worldwide_medical?w=5

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