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Medical Bionic Implant/Artificial Organs Market Brief Analysis On Top Key players Like Orthofix International N.V., Touch Bionics Inc.
Medical Bionic Implant/Artificial Organs Market
The market report includes a detailed analysis of the Covid-19 impact on the Medical Bionic Implant/Artificial Organs market. Over the course of 2019–2027, the market is expected to show significant growth. However, the recent Covid-19 outbreak is likely to affect some of the business operations. The report includes an analysis of how Covid-19 has and will affect the industry, studying reliable sources, interviews of experts, and annual reports of the major market players. The report includes major drivers, restraints, and opportunities within the Medical Bionic Implant/Artificial Organs market.
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Artificial organs are man-made implants that are integrated in human body to imitate the function of original organ. In addition, bionics is a collaboration of electronics and biology. Medical bionics are robotic substitute of other parts of body. These bionics mimics the function of natural biological systems. The need of these artificial organs and bionics is to function as normal organ when existing natural system fails to function in a desired manner. Medical bionics can be used in hearing, brain stimulation and vision. In recent years, the global medical bionic implant /artificial organs market have witnessed drastic growth due to rise in waiting list of patients requiring organ transplantation and shortage of donors organs.
Factors driving the market growth are rise in organ failure, increasing injuries and accidents, occupational disabilities that demand medical bionic for improvement of the problem. Moreover, technological advancement and adoption of organ transplantation are fuelling the growth of the market. However, lack of skilled personnels, high cost of devices and uncertain reimbursement scenarios in different regions are restraining the growth of the market. The opportunities for the market are rise in income and increasing awareness in emerging economies.
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The report segments the market by product type, method of fixation, technology and geography. On the basis of product type, market is segmented to artificial organ and bionic implants. Artificial organs market is further divided to artificial heart, total artificial heart (TAH), artificial kidney, artificial liver, haemodialysis machines, insulin pumps, artificial pancreas, artificial lungs, and oxygenators. In addition, medical bionics implants are segmented to ear bionics (cochlear implants), vision bionics, orthopaedic bionics, heart bionics, neural /brain bionics and biological tissue valves. By method of fixation, the market can be segmented as implantable and externally worn. In terms of technology, market is segmented to electronic and mechanical replacement. Geographically, market is analysed in North America, Europe, Asia-Pacific and LAMEA.
Healthcare giants such as Pixium Vision received CE mark approval for IRISII bionic vision system in July 2016. Moreover, in March 2016 Cochlear Ltd., launched Cochlear Baha 5 Power and Baha 5 SuperPower that are bone conduction sound processors. Other market players are undergoing mergers, collaborations and approvals for the development of the market.
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The Major key Players Are:
Orthofix International N.V., Touch Bionics Inc., Cochlear Ltd., Biomet, Inc., Second Sight Medical Products, Inc., Ekso Bionics, St. Jude Medical, Inc., Lifenet Health Inc., BionX Medical Technologies, Inc. and Otto Bock Inc.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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