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 market is expected to grow during the forecast
period due to the increasing demand for artificial organs in the
healthcare sector. In addition, 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.
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.
Working of Bionics Technology: http://bit.ly/2bwu5pd
The global bionics market is studied by segmenting it on the basis of
type, application, technology, and geography.By type, the bionics
market is categorized into bionic heart, vision, brain, limbs,
exoskeleton, and others. 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. This trend is
likely to continue throughout the forecast period.By application, the
global market for bionics is bifurcated into defense and healthcare.
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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