Bionics

Transparency Market Research
Bionics- Innovation in
Heathcare Sector Worldwide
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REPORT DESCRIPTION
Bionics is the study of biological functions and the development of artificial organs and body parts that are used as a
replacement of the original part or organs. The bionic organs are designed in such a way so that they can imitate the
functions of the organs in order to operate properly. There is an increasing demand for artificial organs in the
healthcare sector and the aging population is resulting into multiple organ failure. This in return is creating a need
for organ transplant. However, the chance for getting a suitable donor for a transplant requires lot of time and thus
reduces the chance of survival. The use of bionics part does not require time and these parts are designed to adjust
with the body requirements. Furthermore, the bionics are also being applied in the defense sector in the form of
exoskeleton suits which enables a soldier to carry heavy loads without reducing his or her speed in the battlefield.
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The bionics market is fueled by major technological advancements in the healthcare sector, rising number of
accidents resulting in amputations and paralysis, increasing geriatric population leading to rise in organ failure, and
surging application of exoskeletons in the field of defense. Bionics as a substitute for robotics, growing health
awareness in emerging economies, and rise in disposable income and healthcare expenditure in developing
countries are factors that promise steady growth in the future. In contrast, high cost of bionic devices restricts its
adoption in low-income regions and population groups, thereby hindering the overall growth of the market.
Bionics Market: By Types
> Bionic brain
> Bionic heart
> Bionic limbs
> Bionic vision
> Exoskeleton
At present, the segment for bionic limbs occupies the highest share of the global bionics market, and is projected
to expand during the forecast period as well. The rising number of accidents resulting in amputations or paralysis
has driven bionic limbs to become the largest product segment in the overall bionics market.
Bionics Market: By Application
> Healthcare
> Defense
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Accounting for a share of 75.0% in 2014, healthcare has emerged as the leading application segment in the bionics
market. Defense, on the other hand, is projected to become the most rapidly growing application segment by 2021.
By technology, the bionics market is split into electronic and mechanical bionics.By geography, the global bionics
market is divided into Europe, North America, Asia Pacific, and Rest of the World. The presence of prominent
companies such as Baxter International, Abiomed, and Medtronic makes North America the leading market for
bionics. This market is also fueled by the growing application of bionics as a replacement for organ transplant.
Accounting for a share of 20.0% in the overall bionics market in 2014, Asia Pacific is the second largest as well as the
most rapidly developing regional segment fueled by the growth in emerging economies such as Japan, China, and
India. The Rest of the World region is anticipated to face a few challenges owing to the high expense of using bionic
organs.
The research report identifies the prominent players operating in the global bionics market: EKSO Bionics, Abiomed,
Inc., Baxter International, Inc., Ottobock Healthcare, Nikkiso Co. Ltd., SynCardia Systems, Inc., Asahi Kasei Medical
Co. Ltd., Sonova Holding AG, HeartWare, Inc., and Medtronic Plc. These players are studied in the bionics market
report based on aspects such as company and financial overview, product portfolio, recent developments, business
strategies, and SWOT analysis.
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Bionics is the study of biological functions and the development artificial organs and body parts that are used as a replacement of the original part or organs. The bionic organs are designed in such a way so that they can imitate the functions of the organs in order to operate properly. The global bionics market has been valued at USD 7.96 billion in 2014, growing at a CAGR of 13.2% from 2015 to 2021. The bionics is majorly used in the healthcare sector in the form of artificial organs to replace the malfunctioning organs in the human body.

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