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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.

Global Medical Bionic Implants Market - Dynamics

Increasing launches and approvals of new medical bionic implants is one of the major factor that drives the market growth in near future. For instance, in June 2019, Cochlear Limited, a provider of implantable hearing solutions, received approval from the U.S. Food and Drug Administration (FDA), for Nucleus Profile Plus Implant, designed to provide safe access to Magnetic Resonance Imaging (MRI) scans.

Similarly, in January 2018, Pixium Vision, a manufacturer of bionic vision systems, received approval from the US Food and Drug Administration (FDA) to initiate the clinical study for PRIMA, a wireless photovoltaic subretinal implant, indicated for the patients with Atrophic Dry Age-related Macular Degeneration (AMD).

Global Medical Bionic Implants Market - Regional Insights

North America held the dominant position in 2019, in the global medical bionic implants market, owing to increasing incidence of cardiovascular diseases such as heart valve disease. For instance, in December 2018, Centers for Disease Control and Prevention (CDC) estimated that, nearly 25,000 deaths are reported due to heart valve disease each year in the U.S.

Europe is also showcasing the high growth in medical bionic implants market due to increased launches and approvals of new medical bionic implants. For instance, in September 2017, Advanced Bionics AG received approval from Technical Inspection Authority (TÜV), Munich, Germany, for HiFocus SlimJ electrode, an electrode for the HiRes Ultra cochlear implant platform. The HiFocus SlimJ electrode protects the cochlea during electrode insertion.

Global Medical Bionic Implants Market - Competitive Landscape

Some of the key players operating in the global medical bionic implants market include Terumo Corporation, Ossur Americas, Advanced Bionics AG, Pixium Vision, Cochlear Limited, 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.

Global Medical Bionic Implants Market - Market Taxonomy

On the basis of product type, the global medical bionic implants market is segmented into:

  • Heart Bionics
  • Orthopedic Bionics
  • Ear Bionics
  • Vision Bionics

On the basis of technology, the global medical bionic implants market is segmented into:

  • Electronic Bionics
  • Mechanical Bionics

On the basis of method of fixation, the global medical bionic implants market is segmented into:

  • Implantable
  • Externally Worn

 On the basis of end user, the global medical bionic implants market is segmented into:

  • Hospitals
  • Clinics

On the basis of region, the global medical bionic implants market is segmented into:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

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:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

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.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

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:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

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.

Data Standardization

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:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

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.

Data Validation

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:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users