Global Medical Bionic Implant/Artificial Organs Market: Overview
Artificial organs and implants are unique types of devices that are implanted in the body so as to it can imitate the original function of the organ. The functionality of the original organ should be imitated by the artificial organ if it is not done then it results in the death of the person. The term “bionics” is a combination of biology and electronics. The medical bionics is the improved versions of the body parts that include robotic technology. Organ transplantation is done when a particular human organ gets damaged or injured.
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Global Medical Bionic Implant/Artificial Organs Market: Segmentation
The medical bionic implant market is globally segmented into product, technology, method of fixation, and regions. On the basis of products, the global market is segregated into vision bionics, orthopedic bionics, neural /brain bionics, ear bionics, and heart bionics. Based on the technology, the market is categorized into Electronic and mechanical. Depending on the method of fixation the market is divided into externally worn and implantable. Region-wise, the global medical bionic implants market is diversified into regions such as North America, Asia-Pacific, Europe, and Rest of the World.
Global Medical Bionic Implant/Artificial Organs Market: Growth Factors
The medical bionic implant and artificial organ market is a growing market owing to factors such as huge demand among the patients for organ transplantation, growing technological advancement in the medical technologies, increasing investments made for research and development activities by the government, growing public awareness, advancements made in the medical bionic implant and artificial organ procedures and rising demand for screenings conducted in the diagnosis and treatment process. Increasing aging population, rising incidents of road accidents, injuries and organ failure, rising income and better living standards are further fueling the market growth. However, there are certain restraining factors to the market growth which include high costs associated with organ transplant, expensive devices uncertain reimbursement scenarios in different regions and limited surgical experience.
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Global Medical Bionic Implant/Artificial Organs Market: Regional Analysis
The region that contributed the major market share in the global medical bionic implants market is North America. The factors that contribute to this market growth include the rapid technological advancements that are made in the field, the huge amount of investments that are made in the research and development, and the rise in the expenditures on the artificial prosthesis. North America is followed by Asia-Pacific and Europe. The factors that attribute to this growth is the huge consumer base, the increasing initiatives that are taken by the government, and the rise in the disposable income contributes to the market growth.
Global Medical Bionic Implant/Artificial Organs Market: Competitive Players
The key market players that are involved in the medical bionic implant market include LifeNet Health U.S., Össur, Nano Retina Inc., Edwards LifeSciences Corporation, Tibion Corporation, Otto Bock Healthcare, Boston Scientific Corporation, Terumo Corporation, EKSO Bionics, Second Sight Medical Products, Medtronic Inc., Touch Bionics Limited, Orthofix International U.S.A., and others.
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Global Medical Bionic Implant/Artificial Organs Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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