Bionics Market - Growth, Trends, and Forecast (2020 - 2025)

The Bionics market is segmented by Type of Bionics, Method of Fixation (Implantable Bionics and External Bionics), and Geography

Bionics Market Snapshot

Study Period:

2017-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

6.5 %

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Market Overview

The bionics market is expected to register a CAGR of 6.5%, over the forecast period. Factors that are responsible for the growth of the market include increased incidence of disabilities and organ failures, technological advancements, and high incidence of road accidents leading to amputations. Another primary factor is the scarcity of donor organs. The lack of availability of potential organs to transplant has been a major issue. The demand for organ donors is increasing and is very high compared to the actual supply. Bionics are able to cater to the needs of those in need of organ transplantations and replacements. It can replicate the function of damaged organs. The replication is almost the same. This level of scarcity of organs has turned into a boon for artificial organs and the bionics industry

However, the factors, such as the fear of device malfunction and its consequences, among others, may impact market growth.

Scope of the Report

Bionics are man-made devices that can be implanted or integrated into humans, to either replace a natural organ or provide support to restore specific function, or a group of related functions, helping the patient to return to his normal life.

Type of Bionics
Vision Bionics
Ear Bionics
Cochlear Implant
Bone-anchored Hearing Aid (BAHA)
Orthopedic Bionic
Bionic Hand
Bionic Leg
Cardiac Bionics
Heart Valves
Ventricular-assisted Device
Pacemaker
Other Cardiac Bionics
By Fixation
Implantable Bionics
External Bionics
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Implantable Bionics are Estimated to Hold a Major Share in the Fixation Type Segment of the Bionics Market

  • Implantable bionics held a larger share in the bionics market, in 2019, and it is expected to continue this trend during the forecast period. This larger market share of implantable bionics is due to the increasing number of organ-failure patient base, as well as the increasing number of patients who are opting for organ transplants across the world.
  • According to the US Government Information on Organ Donation and Transplantation, in 2019, there were 19,267 donors, 39,718 transplants, and 112,568 waiting list in the US. Thus, the growing transplant waiting list cases are likely to boost the market growth.
  • Furthermore, market players are focussing on advancements in the implantable bionics which is likely to propel the market growth. For instance, In January 2020, Bionic Vision Technologies announced the interim results of a pilot study involving four patients with late-stage Retinitis Pigmentosa (RP) implanted with a visual prosthesis designed to improve awareness of external objects and patient surroundings, the results reported were the most significant improvement in this cohort was observed with the Primary Obstacle Avoidance Task, which relies on participants identifying obstacles in their pathway.

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North America Dominates the Market and is Expected to Do Same during the Forecast Period

  • Currently, North America dominates the market for bionics and is expected to continue its stronghold for a few more years. In the North American region, the United States holds the largest market share. The rising prevalence of chronic diseases and increasing demand for non-invasive surgical procedures are helping in the dominance of the North American region in the bionics market.
  • The presence of developed healthcare infrastructure and major market players focussing on various market strategies so as to gain a competitive edge is also expected to propel the market. In July 2019, Advanced Bionics launched a new AIM system (active insertion monitoring) a computer program designed to help surgeons and hearing care professionals with the insertion of the electrode for a cochlear implant. The software provides real-time feedback to the surgeon to guide the insertion placement.

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Competitive Landscape

The bionics market is competitive and consists of numerous major players. In terms of market share, some of the major players currently dominate the bionics market. Owing to the rising adoption of medical bionics and an increasing number of people in need of organs, few other smaller players are expected to enter the market. Some of the major players of the market are Medtronic PLC, Edward Lifesciences Corporation, Ekso Bionics, and Ossur (Touch Bionics), among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increased Incidence of Disabilities and Organ Failures

      2. 4.2.2 Technological Advancements

      3. 4.2.3 High Incidence of Road Accidents Leading to Amputations

    3. 4.3 Market Restraints

      1. 4.3.1 Expensive Procedures

      2. 4.3.2 Fear of Device Malfunction and Its Consequences

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type of Bionics

      1. 5.1.1 Vision Bionics

      2. 5.1.2 Ear Bionics

        1. 5.1.2.1 Cochlear Implant

        2. 5.1.2.2 Bone-anchored Hearing Aid (BAHA)

      3. 5.1.3 Orthopedic Bionic

        1. 5.1.3.1 Bionic Hand

        2. 5.1.3.2 Bionic Leg

      4. 5.1.4 Cardiac Bionics

        1. 5.1.4.1 Heart Valves

        2. 5.1.4.2 Ventricular-assisted Device

        3. 5.1.4.3 Pacemaker

        4. 5.1.4.4 Other Cardiac Bionics

    2. 5.2 By Fixation

      1. 5.2.1 Implantable Bionics

      2. 5.2.2 External Bionics

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East & Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East & Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Advanced Bionics AG

      2. 6.1.2 Bionic Prosthetics and Orthotics

      3. 6.1.3 Cochlear Limited

      4. 6.1.4 Edward Lifesciences Corporation

      5. 6.1.5 Ekso Bionics

      6. 6.1.6 Medtronic PLC

      7. 6.1.7 Mobius Bionics

      8. 6.1.8 Ottobock

      9. 6.1.9 Össur Americas (Touch Bionics Inc.)

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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