by Toby Smith 04/22/08
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 $6 million.
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 ChangeWave Alliance survey they're increasingly popular -- particularly with baby boomers.
Our February survey of 148 doctors 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.
Today, when a limb or organ no longer functions as it should, one increasingly popular option is to replace it with a "bionic" device.
We asked our panel of doctors which types of devices will experience the largest growth in demand over the next 12 months. Little wonder, with the aging of the baby boomers, that one-in-two (50%) believe that it's Joint Repair/ Replacement devices.
While we aren't quite there yet in terms of bionic technology, the fact that many aging baby boomers are looking for knee and hip replacements translates into big gains not only for the technology in general, but also for the companies specializing in this sector.
Which companies are expected to benefit most from this growth in demand for bionics? Joint Replacement manufacturers Stryker (SYK) (27%) and Zimmer (ZMH) (20%) were two of the top firms mentioned, along with cardiac device maker Medtronic (MDT) (27%).
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