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Implantable Medical Devices |
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This article describes a concept which could impact a variety of companies, countries or industries. To see what companies and articles reference this concept page, click here. |
Many of us old enough to recall the 1970s TV show "The Six Million Dollar Man," know it was about a guy severely injured in a plane crash who was subsequently "rebuilt" in a high-tech, clandestine medical procedure costing six million dollars.
Back then it was practically all fiction, but today cardiac implants, joint replacements and other "bionic" limbs and devices are readily available. And according to a recent survey they're increasingly popular - particularly with baby boomers. This is infact, an increasingly exciting prospect in the Health Care industry.
ChangeWave's survey of 148 doctors[1] involved with "bionic" devices, looked at current and future demand trend for joint replacements, cardiac implants and other types of body repair and correction medical products. In 2008, it is estimated that joint repair/replacement devices will have the largest growth.
New Medical Breakthroughs
In the coming 12-24 months, there are various breakthroughs expected, with Joint Repair/Replacement Devices (31%), along with Prosthetic Limbs (30%) heading the list of devices most likely to experience technology breakthroughs going forward. Dental Implants (25%), Vision Correction Devices (23%) and Back/ Spine Repair & Replacement solutions (21%) are also in the picture right now.
Companies that are expected to benefit
- Joint Replacement manufacturers Stryker (SYK) and Zimmer Holdings (ZMH) were two of the top firms mentioned. Manufacturers Stryker and Zimmer offer a variety of custom products and solutions that help to simplify joint replacement surgeries. They are well positioned to capitalize on the growing momentum for bionic devices. As a respondent points out, "Joint replacement solutions are becoming more specific for the patients' particular problem, requiring less complicated surgeries."
- Cardiac device maker Medtronic (MDT) - Medtronic recently purchased multiple patents and technology from Biophan Technologies with regards to MRI-safe pacemaker and pacemaker leads," according to the market. "Aging baby boomers that require pacemakers and defibrillating implants will benefit from devices that also allow for MRI scanning to be done."
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