Medical Bionic Implants Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
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.
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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.
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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.
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