Medical Bionics Market Outlook Trends and Future Prospects Details for Business Development with Top Key Companies Like Medtronic, Edwards Lifesciences, Ekso Bionics Holdings, Otto Bock Holdings GmbH & Co. KG

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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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 70.0% share in the global market in 2017, owing to the increasing number of people opting for organ transplants and rising prevalence of chronic diseases.

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.

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In September 2017, Orthofix International N.V. received United States Food and Drug Administration (USFDA) and European Conformité Européene (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.

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.

GLOBAL MEDICAL BIONICS MARKET SEGMENTATION
Market Segmentation by Product
• Heart
o Pacemaker
 Implantable cardiac pacemaker
 External pacemaker

o Ventricular assist device (VAD)
 Left VAD
 Right VAD

o Artificial heart valves
 Mechanical heart valves
 Tissue heart valves
o Total artificial heart

• Neural/Brain
o Spinal cord stimulators (SCSs)
o Deep brain stimulators (DBSs)
o Transcutaneous electrical nerve stimulation (TENS)
o Sacral nerve stimulators (SNSs)
o Vagus nerve stimulators (VNSs)
o Others (Transcranial magnetic stimulation (TMS) and transcranial electrical stimulation (TES))

• Ear
o Cochlear implants
o Bone anchored hearing systems
o Auditory brainstem implants

• Orthopedic
o Lower limb
 Bionic foot
 Bionic Knee
o Upper limb
o Exoskeleton
• Vision/Eye
• Others (Artificial kidneys, bio-lungs, and artificial pancreas)

Market Segmentation by Fixation Type
• Implantable
• Non-implantable

Market Segmentation by Geography
• North America Medical Bionics Market
o By Product
o By Fixation Type
o By Country – U.S. and Canada

• Europe Medical Bionics Market
o By Product
o By Fixation Type
o By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

• Asia-Pacific (APAC) Medical Bionics Market
o By Product
o By Fixation Type
o By Country – Japan, China, India, and Rest of APAC

• Rest of World (RoW) Medical Bionics Market
o By Product
o By Fixation Type
o By Country – Brazil, Mexico, and Rest of RoW

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