Bionics Market

Bionics Market by Type of Bionics (Vision Bionics and Ear Bionics [Cochlear Implant and Bone-anchored Hearing Aid (BAHA)], Orthopedic Bionic [Bionic Hand and Bionic Leg], Cardiac Bionics [Heart Valves, Ventricular-assisted Devices, Pacemaker, and Others]), Fixations (Implantable Bionics and External Bionics), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends and Forecast 2021 – 2028

  • Report ID: HC-3351
  • Author: Growth Market Reports
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  • No. Of Pages: 211
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The global bionics market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising demand for healthy organs from donors.

Bionics Market Key Takeaways

The concept of bionics is said to have changed present-day medication and healthcare. In medication, bionics have played a significant role in the replacement or enhancement of specific organs or body parts. Bionic implants are the artificial versions of specific body parts or organs that work in much the same way as original parts. They mimic the original function of a specific body part closely and often outstrip it, making them highly particular from simple prostheses. Increasing organ failure and physical disability due to age-related or congenital disorders and the expanding geriatric population is estimated to drive the market growth.

The COVID-19 pandemic negatively affected the worldwide medical bionics market. During the pandemic, road traffic declined due to travel limitations. Therefore, it decreased the cases of road accidents. Besides, healthcare bodies postponed surgery cases manage the pandemic circumstance. As a result, the demand for medical bionics declined drastically.

Market Trends, Drivers, Restraints, and Opportunities

  • The increasing development of non-invasive procedures is expected to boost the bionics market.
  • The rise of new innovations in bionic research, increasing number of accidents and injuries causing organ deletion, and lack of organ donors are key drivers for the market growth.
  • Growing number of transplants is estimated to accelerate the growth of the market.
  • Increasing accident cases leading to amputation can fuel the market growth.
  • Increasing rate of the geriatric population can drive the growth of the market.
  • Growing awareness of bionics procedures is expected to accelerate the growth of the market.
  • Rising demand for surgical procedures that are less painful is expected to fuel the market growth.
  • Rapid adoption of technological advancements in the field of medical equipment is one of the major factors driving the market growth.
  • High installation cost can restrain the growth of the market.
  • The demand for bionics in the emerging countries is increasing owing to rapid growth in medical tourism and growing awareness about artificial organs is estimated to foster the market growth.

Scope of the Report                               

The report on the bionics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Bionics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Type of Bionics (Vision Bionics and Ear Bionics [Cochlear Implant and Bone-anchored Hearing Aid (BAHA)], Orthopaedics Bionics [Bionic Hand and Bionic Leg], Cardiac Bionics [Heart Valves, Ventricular-assisted Device, Pacemaker, and Others]), Fixations (Implantable Bionics and External Bionics)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Advanced Bionics AG; Medtronic PLC; Edward Lifesciences Corporation; Ossur (Touch Bionics); and Ekso Bionics.

Bionics Market Segment Insights

Ear bionics segment is expected to grow at a rapid pace

Based on type of bionics, the market is divided into vision bionics, ear bionics, and orthopedic bionics, cardiac bionics. The ear bionics segment is further classified as a cochlear implant and bone-anchored hearing aid (BAHA). The orthopedic bionics segment is further segmented into bionic hand and bionic leg. The cardiac bionics segment is further segmented into heart valves, ventricular-assisted device, pacemaker, and others. Increasing prevalence of auditory conditions and hearing disorders causing deafness & hearing loss are estimated to drive the market segment growth. This is estimated to expand the market segment growth during the forecast period due to the rising occurrence of hearing loss includes demographic change, expand life expectancy, occupational, and recreational noise.

Implantable bionics segment is projected to expand at a considerable CAGR

In terms of fixation, the bionics market is divided into implantable bionics and external bionics. The implantable bionics segment to account for a key share of the market due to an increase in awareness about the beauty and physical appearance. Moreover, rising number of organ-failure patient base and the increasing number of patients are opting for organ transplants across the world.

North America is anticipated to constitute a large market share

In terms of regions, the global market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to account for a large market share due to rising prevalence of chronic diseases and expanding demand for non-invasive surgical procedures. The market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to rapid development in healthcare infrastructure.

Bionics Market By Regions

Segments

Segments Covered in the Report
Type of Bionics
  • Vision Bionics
  • Ear Bionics
    • Cochlear Implant
    • Bone-anchored Hearing Aid (BAHA)
  • Orthopedics Bionics
    • Bionic Hand
    • Bionic Leg
  • Cardiac Bionics
    • Heart Valves
    • Ventricular-assisted Device
    • Pacemaker
    • Others
Fixations
  • Implantable Bionics
  • External Bionics
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Advanced Bionics AG
  • Medtronic PLC
  • Edward Lifesciences Corporation
  • Ossur (Touch Bionics)
  • Ekso Bionics

Competitive Landscape

Key players competing in the bionics market are Advanced Bionics AG ; Medtronic PLC; Edward Lifesciences Corporation; Ossur (Touch Bionics) and Ekso Bionics.

Bionics Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Bionics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Bionics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Bionics Market - Supply Chain
  4.5. Global Bionics Market Forecast
     4.5.1. Bionics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Bionics Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Bionics Market Absolute $ Opportunity
5. Global Bionics Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Bionics Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Bionics Demand Share Forecast, 2019-2026
6. North America Bionics Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Bionics Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Bionics Demand Share Forecast, 2019-2026
7. Latin America Bionics Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Bionics Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Bionics Demand Share Forecast, 2019-2026
8. Europe Bionics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Bionics Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Bionics Demand Share Forecast, 2019-2026
9. Asia Pacific Bionics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Bionics Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Bionics Demand Share Forecast, 2019-2026
10. Middle East & Africa Bionics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Bionics Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Bionics Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Bionics Market: Market Share Analysis
  11.2. Bionics Distributors and Customers
  11.3. Bionics Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Advanced Bionics AG Medtronic PLC Edward Lifesciences Corporation Ossur (Touch Bionics) Ekso Bionics
Segments Covered in the Report
Type of Bionics
  • Vision Bionics
  • Ear Bionics
    • Cochlear Implant
    • Bone-anchored Hearing Aid (BAHA)
  • Orthopedics Bionics
    • Bionic Hand
    • Bionic Leg
  • Cardiac Bionics
    • Heart Valves
    • Ventricular-assisted Device
    • Pacemaker
    • Others
Fixations
  • Implantable Bionics
  • External Bionics
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Advanced Bionics AG
  • Medtronic PLC
  • Edward Lifesciences Corporation
  • Ossur (Touch Bionics)
  • Ekso Bionics

Key players competing in the bionics market are Advanced Bionics AG ; Medtronic PLC; Edward Lifesciences Corporation; Ossur (Touch Bionics) and Ekso Bionics.

Bionics Market By Key Players

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