Market Overview:
The global bionic devices market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth in this market can be attributed to the increasing prevalence of chronic diseases, technological advancements in bionic devices, and rising geriatric population. Based on type, the cochlear implants segment is expected to account for the largest share of the global bionic devices market in 2018. This segment is projected to grow at a CAGR of 11.5% from 2018 to 2030 due to increasing incidence of hearing loss across the globe. Based on application, hospitals are expected to account for the largest share of the global bionic devices market in 2018.
Product Definition:
Bionic devices are artificially intelligent prosthetic body parts that can be controlled by the mind. They are often used to improve or replace natural body functions, such as vision, hearing, or movement.
Cochlear Implants:
Cochlear implants are medical devices that help the physically deaf and those who cannot hear to regain their hearing. These devices have advanced features such as speech recognition, sound processing, and wireless connectivity which makes them more effective in providing a better listening experience. The growing geriatric population with age-related hearing disorders coupled with increasing technological advancements is expected to drive the market for cochlear implants over the forecast period.
Exoskeletons:
Exoskeletons are wearable robotic systems that provide support to weak and disabled people. They are used in assisting patients who cannot walk or move themselves from a chair to a bed, or vice versa. It also aids in carrying heavy objects and moving the body parts which would otherwise be impossible without any assistance.
Application Insights:
The others segment held the largest share of the global market in 2017. This segment includes surgical implants and devices that are used for rehabilitation purposes after a stroke or heart attack. The surgical implant category is further divided into spinal implants, cardiac pacemakers, and neurostimulators. The growing usage of these devices in surgeries to restore normal functioning is expected to drive their demand over the forecast period: surgeons may perform a procedure once but use bionic technology to do it better than before resulting in higher adoption rate among other applications.
The hospital application segment is expected to grow at a CAGR of XX% from 2018 to 2030 owing to an increase in patient admissions for chronic diseases such as diabetes and high blood pressure which may lead them towards medical implantable device therapy as an alternative treatment method thus driving its demand globally over the forecast period.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large number of companies, which are engaged in developing bionic devices and conducting clinical trials for such products. The region is expected to maintain its dominance throughout the forecast period owing to increasing government funding for research and development activities pertaining to bionics. In addition, growing awareness about these devices and rising healthcare expenditure by patients are also contributing toward regional growth.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to an increase in government initiatives coupled with rising investments by private players for commercialization of innovative medical products at affordable prices within this region. Moreover, Asia Pacific has one of the largest populations suffering from deafness due disability that needs assistive listening systems or cochlear implants; hence it provides a huge opportunity for industry players operating within this region as well as those planning on entering into this market space soonest possible time frame (i.e., 2018-2030).
Growth Factors:
- Increasing demand for prosthetic devices: The increasing demand for prosthetic devices is one of the primary growth drivers for the global bionic devices market. This is because of the advantages offered by these devices over traditional prosthetics, such as improved functionality and aesthetics.
- Growing geriatric population: The growing geriatric population is another key factor that is expected to drive market growth in the coming years. This is because elderly individuals are more likely to require bionic implants or assistive devices than younger people due to age-related health conditions.
- Technological advancements: Technological advancements have been a major driver of market growth in recent years, and this trend is expected to continue in the coming years as well. This is because technological advances have led to the development of new and innovative bionic implant products that offer better performance and functionality than traditional implants.
Scope Of The Report
Report Attributes
Report Details
Report Title
Bionic Devices Market Research Report
By Type
Cochlear Implants, Exoskeletons, Cardiac Bionics, Ventricular Assist Device
By Application
Hospital, Clinic, Others
By Companies
Abiomed, Activelink, Advanced Bionics, Alterg, Axosuits, Bae Systems, Bionx Medical Technologies, B-Temia, Bana Teknoloji, Bionik Laboratories, Abiomed, Carmat, Cleveland Fes Center, COAPT, Cochlear, Cyberdyne
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
129
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Bionic Devices Market Report Segments:
The global Bionic Devices market is segmented on the basis of:
Types
Cochlear Implants, Exoskeletons, Cardiac Bionics, Ventricular Assist Device
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Clinic, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Abiomed
- Activelink
- Advanced Bionics
- Alterg
- Axosuits
- Bae Systems
- Bionx Medical Technologies
- B-Temia
- Bana Teknoloji
- Bionik Laboratories
- Abiomed
- Carmat
- Cleveland Fes Center
- COAPT
- Cochlear
- Cyberdyne
Highlights of The Bionic Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cochlear Implants
- Exoskeletons
- Cardiac Bionics
- Ventricular Assist Device
- By Application:
- Hospital
- Clinic
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Bionic Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Bionic devices are medical implants that use electrical signals to help restore or improve function in the body.
Some of the major companies in the bionic devices market are Abiomed, Activelink, Advanced Bionics, Alterg, Axosuits, Bae Systems, Bionx Medical Technologies, B-Temia, Bana Teknoloji, Bionik Laboratories, Abiomed, Carmat, Cleveland Fes Center, COAPT, Cochlear, Cyberdyne.
The bionic devices market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Bionic Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Bionic Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Bionic Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Bionic Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Bionic Devices Market Size & Forecast, 2020-2028
4.5.1 Bionic Devices Market Size and Y-o-Y Growth
4.5.2 Bionic Devices Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Cochlear Implants
5.2.2 Exoskeletons
5.2.3 Cardiac Bionics
5.2.4 Ventricular Assist Device
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Clinic
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Bionic Devices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Bionic Devices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Cochlear Implants
9.6.2 Exoskeletons
9.6.3 Cardiac Bionics
9.6.4 Ventricular Assist Device
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Clinic
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Cochlear Implants
10.6.2 Exoskeletons
10.6.3 Cardiac Bionics
10.6.4 Ventricular Assist Device
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Clinic
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Cochlear Implants
11.6.2 Exoskeletons
11.6.3 Cardiac Bionics
11.6.4 Ventricular Assist Device
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Clinic
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Cochlear Implants
12.6.2 Exoskeletons
12.6.3 Cardiac Bionics
12.6.4 Ventricular Assist Device
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Clinic
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Cochlear Implants
13.6.2 Exoskeletons
13.6.3 Cardiac Bionics
13.6.4 Ventricular Assist Device
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Clinic
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Bionic Devices Market: Competitive Dashboard
14.2 Global Bionic Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Abiomed
14.3.2 Activelink
14.3.3 Advanced Bionics
14.3.4 Alterg
14.3.5 Axosuits
14.3.6 Bae Systems
14.3.7 Bionx Medical Technologies
14.3.8 B-Temia
14.3.9 Bana Teknoloji
14.3.10 Bionik Laboratories
14.3.11 Abiomed
14.3.12 Carmat
14.3.13 Cleveland Fes Center
14.3.14 COAPT
14.3.15 Cochlear
14.3.16 Cyberdyne
