Rising demand for exoskeletons and bionic limbs seen worldwide
The demand for bionic products has witnessed impressive growth primarily because of greater awareness amongst patients, especially geriatric patients who may suffer from diabetes and obesity. The number of amputations performed on a yearly basis is also rising, directly benefiting the global medical bionic implants and exoskeletons market. As per data from the National Center for Health Statistics, 185,000 amputations are conducted in the U.S. every year and roughly 2 million people in the country are currently living with a lost limb. Rapid advancements in the global medical bionic implants and exoskeletons market have led to new and improved robotics technology. Medical device makers are looking at emerging economies mainly because of their large populations and continued demand for bionic replacements. In addition, a greater number of amputations coupled with improved capabilities of high-tech biomaterial based implants is contributing to the growth of the medical bionic implants and exoskeletons market.
Government initiatives assist the medical bionic implants and exoskeletons market
National governments and regulatory bodies in several countries are taking collaborative measures to ensure that there is a constant demand for the medical bionic implants and exoskeletons market. The World Bank states that countries in the Asia-Pacific region and Europe have witnessed a marked rise in FDI. Emerging markets such as Malaysia, Mexico, Indonesia, and India have recorded much higher economic growth rates than developed nations. This is expected to drive higher investment across the healthcare sector in all of these countries, boosting the global medical bionic implants and exoskeletons market. Suppliers are hampered by budgetary constraints, yet they seek solutions that strike the perfect balance between quality and affordability for their end users. This has ensured high interest in organizations giving and exhibiting clinical, economical, and utilitarian solutions to potential clients.
Medical Bionic Implants And Exoskeletons Market: North America to Remain Dominant Regional Market Through 2027: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017 - 2027Buy Now
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