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. 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.
However, the market is facing restraint in the form of high of these devices. The bionic organs are very costly and cannot be afforded by everyone. Moreover, the development of the bionics organs involves extensive research and development which can only be funded by governments. These factors are expected to hinder the market initially.
The bionics market is expected to grow due to their rising awareness in the emerging economy. Furthermore, developing countries such as India and China are expected to push the market for growth in future. In addition, the improving income levels are ensuring the purchase of these devices for a better future. Moreover, in future, the bionics is expected to be the substitute for robotics market. The idea of developing a fully functioning artificial human being with the help bionic organs is being considered and this can replace the robots in the near future.
The global bionics market report has been analyzed in terms of revenue (USD billion). The forecast period of the analysis is from 2015 to 2021. Furthermore, the report includes the key factors that are pushing and pulling the market in terms of the drivers and restraints. In addition, the future opportunities that can affect the market have also been discussed.
The region segmentation for the bionics market has been done by North America, Europe, Asia Pacific and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). In addition, the report segments the market based on the types, which include bionic brain, bionic heart, bionic limbs, bionic vision, exoskeleton and others. The global bionics market can also be segmented by application. The bionics devices find their application in healthcare and defense sectors. In addition, the market has also been segregated in terms of types of technology into mechanical bionics and electronic bionics. All these segments have also been estimated on the basis of geography in terms of revenue (USD billion).
In order to understand the bionics market better, a key trend analysis section has also been provided which discusses the growth in various segments. In addition, the key players profiled in the report have further been analyzed in terms of the global market share held by them.
In the end, the report also covers the profiles of the leading vendors on the basis of their company overview, key developments, financial statements and business strategies adopted by the players in the global bionics market. The major players profiled in the report include: Abiomed, Inc., Asahi Kasei Medical Co. Ltd, Baxter International, Medtronic Plc, Ekso Bionics and Sonova Holding AG among others.
Bionics Market: By Types
· Bionic brain
· Bionic heart
· Bionic limbs
· Bionic vision
Bionics Market: By Application
Bionics Market: By Technology
· Mechanical bionics
· Electronic bionics
· Bionics Market: By geography
· North America
· Asia Pacific
· Rest of the World
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
· North America
· Asia Pacific (APAC)
· Rest of the World (RoW)
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