DUBLIN--(BUSINESS WIRE)--The "Global Medical Bionics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2018 To 2026" report has been added to ResearchAndMarkets.com's offering.
The global medical bionics market was valued at US$ 16,538.9 Mn in 2017, and is expected to reach US$ 36,818.2 Mn by 2026 expanding at a CAGR of 9.22% from 2018 to 2026.
Pharmaceutical and biotechnology industries are currently engaged in the development of novel treatment options such as nanobionics and nanobiomimetics to replace conventional methods for the treatment of chronic diseases. The challenges encountered in the neural bionics are the development of a two-way interface in the neural circuits and distributed system architectures. Medical device manufacturers are currently emphasizing on understanding the principles and mechanism that govern the nature of several species in order to develop novel medical bionics.
Heart bionics is the leading market in products segment as a result of growing prevalence of cardiac complications such as valvular stenosis and congenital heart disease. Ear bionics is set to register a significant growth over the forecast period due to rising prevalence of conductive hearing loss related to otitis media infection and otosclerosis.
Implantable medical bionics currently dominate the application market on account of the increasing demand for minimal invasive and long term therapy offered with enhanced biocompatibility, mechanical stability and corrosion resistance. External bionics will be the fastest growing market attributed to the increasing number of accidents leading to limb amputations.
Rising prevalence of chronic diseases and increasing demand for noninvasive surgical procedures contribute to the dominance of North America in medical bionics market. Technological advancement in the design and function of medical bionics by the key players have a positive influence on the medical bionics market of North America. Emergence of local players manufacturing medical bionics has created competitive market for medical bionics in Asia Pacific. Supportive regulatory environment for the approval of products in Asia Pacific drives its medical bionics market.
Key Market Movements:
- Increasing investment in the R&D segment of medical device manufacturers to develop novel medical bionic devices for treatment of chronic ailments
- Supportive regulatory environment for medical bionic products
- Technological advancement in the integral circuit design of the implantable devices to drive the medical bionics market during the forecast period
Key Topics Covered:
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Medical Bionics Market: Dynamics and Future Outlook
3.1. Market Overview
3.5. Porter's Five Forces Analysis
3.6. Attractive Investment Proposition, by Geography
3.7. Top 3 Countries: Global Medical Bionics Market, 2016-2026 (US$ Mn)
3.8. Competitive Landscape: Global Medical Bionics Market, by Key Players, 2016-2026 (US$ Mn)
Chapter 4. Global Medical Bionics Market, by Product, 2016 - 2026 (US$ Mn)
4.2. Heart Bionics
4.3. Orthopedic Bionics
4.4. Ear Bionics
4.5. Vision Bionics
4.6. Neural Bionics
Chapter 5. Global Medical Bionics Market, by Application, 2016 - 2026 (US$ Mn)
5.2. Implantable Bionics
5.3. External Bionics
Chapter 6. Global Medical Bionics Market, by Geography, 2016 - 2026 (US$ Mn)
Chapter 7. Company Profiles
- Boston Scientific Corporation
- BionX Medical Technologies, Inc.
- Cochlear Ltd.
- Edward Lifesciences Corporation
- Ekso Bionics Holdings, Inc.
- LifeNet Health, Inc.
- Medtronic Plc.
- Second Sight Medical Products, Inc.
- St. Jude Medical, Inc.
For more information about this report visit https://www.researchandmarkets.com/research/2q2npr/global_medical?w=4