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Innovations in Bionics (Technical Insights)

  • March 2014
  • 81 pages
  • Frost & Sullivan
Report ID: 2075017

Summary

Table of Contents

Scope of Research


Bionics can be defined as the mechanical or electronic replacements or enhancement of organs/parts of living organisms. Medical bionics electrically stimulate excitable tissues such as nerve and muscle, to offer therapeutic intervention for a number of maladies. Since the introduction of the heart bionics (pacemaker) in the 1950s, there has been a range of bionic devices approved for wide clinical applications. The innovations within the bionics industry have had a dramatic impact on the quality of life of many patients. The bionics industry has witnessed the evolution of a myriad of technological products such as the cochlear implants to alleviate severe hearing loss, pacemakers for abnormal heart rhythms, implantable deep brain stimulators (DBS) to reduce tremors associated with Parkinson’s Disease, and even implantable retina chips for vision loss. The last two decades saw the development of a large number of bionic implants for diseases that cannot be cured by alternative treatment methods.

The medical bionics industry will continue to offer novel and innovative technological advancements to solve the present day challenges and unmet gaps within the medical device industry. The increasing aging population and organ failure/damage arising from life style and organic diseases are expected to propel the growth of the bionics industry. However, few pivotal factors, such as device recalls and complexity of indications, are restraining the adoption and acceptance of the bionics products. The associated high cost of research and development, reduced venture capital funding along with the higher probability of intellectual property overlap are seen as critical business challenges with the bionic manufacturers.

This research service (RS) focuses on innovations within the bionics industry for addressing different disease groups such as age related diseases, life style diseases, organic diseases, diseases caused by external factors and genetic diseases. This study captures the innovative products predominantly between four major bionic application areas:


Vision

Ear

Heart

Neural


This research service identifies innovative products that have been FDA approved and those that are either in clinical trials or basic research. It analyses the research orientation of the identified products in terms of disease applications targeted. It discusses the existing R&D network, technology drivers and business challenges that influence the dynamics of the industry. Few of the prominent partnerships within the bionics industry have been studied to evaluate strategic R&D factors. Analytical Hierarchical Process was used to strategically evaluate the research and development factors for different disease groups within each application area.

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