Medical bionic implants are special type of devices made with the help of biological methods and systems found in nature the best known example is cochlear implant, a device for deaf people that is implanted in the human body. Medical bionic implants function same as normal body organ. Bionics is actually a combination of biology and electronics. Instead of robotic versions of implant medical bionic implants serves better. As medical bionic implants can perform original function precisely or can also do even better than it.
Medical bionic implants are used for organ transplantation when an organ of person is damaged due to disease and injury. As there are very few organ donors than the demand and if donor is found there are chances of rejection of transplanted organs. Whereas, medical bionic material are made up of biomaterials. Biomaterial is living or non-living substance introduced in the body as the part of bionic substitute to an organ or function associated to it. Furthermore, study of bionics also emphasizes on the implementation of function found in nature other than just imitating the biological structure, which is expected to favor the medical bionic implants market. Whereas, in July 2015, the BBC medical correspondent Fergus Walsh reported that surgeons in Manchester have performed the first bionic eye implant this is expected to fuel the growth of medical bionic implants market. Also, there are various other medical bionic implants present in market such as ear, hand, artificial heart which is also expected to favor the medical bionic implant market.
Medical Bionic Implants Market Taxonomy
By Product Type
By Method of Fixation
By End User
Rise in scarcity of organ donor expected to fuel the medical bionic implants market
Growth in road accidents and geriatric population is expected to favor the growth of medical bionic implants market. The most transplanted organs are kidney, liver, lungs, heart, pancreas and intestines. According to Centers for Disease Control and Prevention, as of 2014, around 75,000 people are on the active waiting list for organs and only 8,000 organ donors are available each year which favors the growth of medical bionic implants with quick advancement in technology in medical field.
Furthermore, orthopedic medical bionic implant is scientifically more advanced than prosthetics and also amputees can have access to limb replacement and enhancement. Additionally, people of Australia with bionic ears will be eligible for an upgrade due to US$ 2.83 million fund boost from NSW government which is expected to favor the growth of medical bionic implants market.
Regionals growth engines for medical bionic implants market
Medical bionic implants market is segmented geographically in different regions that are North America, Europe, Asia Pacific, Latin America, Middle East and Africa. According to Centers for Disease Control and Prevention published that 97% of newborns in the U.S. were screened for hearing loss in 2014, which is expected to boost the market of medical bionic implants. Whereas population based study in Europe and North America also have identified a consistent prevalence of approximately 0.1% of children having hearing loss which is expected to favor the growth of medical bionic market in both the regions. Furthermore, Asia Pacific is also expected to show significant growth in market due to large number consumers, rising government initiatives through some organizations such as Asia-Pacific Economic Cooperation (APEC), Health Working Group (HWG) and APEC Life Sciences Innovation Forum (LSIF) and they approved by Health Ministers in Beijing in August 2014 for enhancing healthcare system.
Key players operating in medical bionic implants market
Manufacturers are focused towards research and development for innovating medical bionic implants in cost effective price for gaining more competitive edge in the market. The key players operating in medical bionic implants market include Terumo Corporation, Ossur Americas, EKSO Bionics, Orthofix, Nano Retina Inc., Second Sight Medical Products, Inc., Otto Bock, LifeNet Health, Inc., Edwards LifeSciences Corporation, Medtronic Inc., Tibion Corporation, Touch Bionics Limited, and Boston Scientific Corporation.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.