Medical Bionics Market Latest Trends, Analysis & Insights

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Medical Bionics Market Size to Reach 28.1
Billion by 2023
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Medical Bionics Market
Global medical bionics market is forecasted to
generate a revenue of 28.1 billion by 2023,
according to PS 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. Explore Report
with Detailed TOC at https//www.psmarketresearch
.com/market-analysis/medical-bionics-market
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Medical Bionics Market
Insights on market segments
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. 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.
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Medical Bionics Market
APAC is expected to be the fastest growing market
for medical bionics
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. 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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Medical Bionics Market
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 Cochlears 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.
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Medical Bionics Market
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