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Medical Bionics Market Outlook - Top Companies, Trends and Future Prospects Details for Business Development

05-17-2018 07:57 AM CET | Health & Medicine

Press release from: P&S MARKET RESEARCH

Medical Bionics Market Outlook - Top Companies, Trends

Global medical bionics market is forecasted to generate a revenue of $28.1 billion by 2023, according to P&S Market Research.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.

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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 40.0% 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.

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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.

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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.

Some of the other key players operating in the medical bionics market are Medtronic plc, Edwards Lifesciences Corporation, Ekso Bionics Holdings Inc., Retina Implant AG, and Otto Bock Holdings GmbH & Co. KG.

About P&S Market Research
P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research-based consulting services across a range of industries.
With the help of our professional corporate relations with various companies, our market research offers the most accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in our publication. Our research assists our client in identifying new and different windows of opportunity and frame informed and customized strategies for expansion in different regions.

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