Stratview Research delivers key insights on the global Bionic Devices Market. According to Stratview Research, the market is segmented By Biomaterial (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, Others]), By Fixation (Implantable Bionics, External Bionics), By Material (Tungsten, Silicon, Platinum-iridium, Stainless steel, Biologics) and Region

The report also covers the Covid impact on the market. Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and an uptrend is witnessed from 2021.

Market Insights

The report suggests that the overall Bionic Devices Market is estimated to grow from USD 16.8 billion in 2020 to USD 26.8 billion by 2026 at a healthy CAGR of 8.2% during the forecast period.

Market Segments' Analysis

Based on material, the market has been classified into tungsten, silicon, platinum-iridium, stainless steel, and biologics. The tungsten segment accounted for a substantial market share in 2020. This is mainly ascribed to its high density, radiopacity, tensile strength, and yield point. The resistance to corrosion in body fluids has surged the demand for tungsten implants, which further bolsters the segment growth in the coming years.

The market in North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period. This is mainly attributed to the surge in prevalence of accident cases, rise in the number of approval for novel bionic devices, the large presence of advanced healthcare infrastructure, growing demand for non-invasive surgical procedures, as well as presence of major market participants. In addition, the surge in R&D activities in the healthcare sector and enhancement of healthcare infrastructure, and presence of major players operating in the region, which further proliferates the regional growth.

Key Players

The following are some of the key players in the Bionic Devices Market:

  • Pixium Vision (France)
  • Open Bionics (UK)
  • Bionics Scientific Technologies (P) Ltd (India)
  • Advanced Bionics AG (Switzerland)
  • Bionic Prosthetics and Orthotics (India)
  • Cochlear Limited (Australia)
  • Edward Lifesciences Corporation (US)
  • Ekso Bionics (US)
  • Medtronic PLC (Ireland)
  • Mobius Bionics (US).

FREQUENTLY ASKED QUESTIONS

The report answers several questions related to the market. The user can get to know the answers to the following questions…

  • What is the global demand for Bionic Devices Market in terms of revenue?
  • Which are the prominent players in the market?
  • At what CAGR is the market projected to grow within the forecast period?
  • What are the driving factors fuelling the growth of the market?
  • Which region accounted for the largest share in the market?
  • How did the Covid19 impacted the market?
  • How long will it take to recover from the Covid impact?

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