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VALLEY COTTAGE, New York, June 29, 2017 /PRNewswire/ --
The global medical bionic implants and exoskeletons market stood at U$ 454.5 Mn in 2016. It is expected to expand at a CAGR of 7.5% during the period 2017-2027 to reach U$ 1,001.4 Mn.
Factors such as rising amputation rates, diabetes, arthritis, trauma cases and expanding ageing demographics have led to a higher number of bionic implants and exoskeletons procedures. According to National Center for Health Statistics, 185,000 new amputations are consistently being performed in the U.S every year. Advancement in new robotics technology (mind-controlled bionic limbs & exoskeletons) coupled with 3D printing is also positively impacting the growth of the market.
Although Future Market Insights maintains a positive outlook on the global medical bionic implants and exoskeletons market, a high cost of the implants, budgetary restraints and inadequate reimbursement policies can hinder the market's growth.
Request a Sample, this exhaustive report includes 23 data tables and 49 figures to give readers a 360° view of the Medical Bionic Implants and Exoskeletons Market. Browse through this 148-page report to know what factors will shape the market during the period 2017-2027: http://www.futuremarketinsights.com/reports/sample/rep-gb-4254
The key trends that are expected to govern the global medical bionic implants and exoskeletons market in the near future are;
Bionic Forelimbs/Hand Bionics Account for Highest Revenue Share
As per Future Market Insights' findings, revenues from bionic forelimb/hand bionic implants are currently high. Throughout the forecast period, this segment is expected to account for a considerable revenues share of the market owing to vast improvements that are being made in bionic forelimb/hand functionality.
By mode, prosthetic bionic is expected to remain the most attractive segment in 2017 and beyond. This is primarily attributed to the increasing acceptance of bionic prosthetics coupled with rising amputation rates across the globe.
Preview Analysis on Global Medical Bionic Implants and Exoskeletons Market Size by Product Type, 2017 (US$ Mn): http://www.futuremarketinsights.com/reports/medical-bionic-implants-and-exoskeletons-market
North America at the Forefront of Global Medical Bionic Implants and Exoskeletons Market
Availability of technologically advanced bionic limbs and exoskeletons coupled with rising amputation rates among the matured population is facilitating the growth of medical bionic implants and exoskeletons market in North America. In 2016, the region accounted for more than one-third revenue share of the global market. Future Market Insights anticipates that North America will remain the most attractive market for medical bionic limbs and exoskeletons during the assessment period. Meanwhile, the markets in Western Europe and Asia Pacific excluding Japan (APEJ) is expected to record healthy growth rates over 2027.
Manufacturers are consistently trying to innovate, as bionic implants are considered a high margin cutting-edge reconstructive product. Otto Bock Inc., DJO Global Inc., Ossur Corporate, Ekso Bionics, Rex Bionics Ltd., Alter G, ReWalk Robotics are some of the leading players operating in the global medical bionic implants and exoskeletons market.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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