What is the present valuation and projected CAGR of the bionics market?
The bionics market size has grown rapidly in recent years. It will grow from $13.62 billion in 2024 to $15.01 billion in 2025 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to the increased incidence of disabilities, improved healthcare infrastructure, rising healthcare expenditures, the increasing demand for organ donors, and the rising prevalence of chronic diseases.
The bionics market size is expected to see strong growth in the next few years. It will grow to $21.9 billion in 2029 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to customization and personalization, increasing focus on rehabilitation and improving quality of life for patients, raising public awareness and acceptance, increasing the elderly population, and a rise in the geriatric population. Major trends in the forecast period include the integration of the internet of things, advancements in artificial intelligence, wireless and miniaturized electronics, the development of more sophisticated haptic and sensory technologies, and energy harvesting technologies.
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What key drivers have fueled the bionics market’s development over the years?
The increasing prevalence of physical disabilities is expected to propel the growth of the bionics market going forward. Physical disabilities are impairments that affect a person’s ability to move, perform physical tasks, or maintain physical stamina. The physical disability can be associated with conditions such as osteoporosis, arthritis, or general physical degeneration. Bionics enhances the quality of life for individuals with physical disabilities by replacing or augmenting lost bodily functions, improving mobility, and increasing independence. For instance, in October 2024, according to the UK Parliament’s House of Commons Library, a UK-based government administration, disability prevalence grows with age: in 2022/23, about 11% of children in the UK had a disability, compared to 23% of working-age adults and 45% of those above the State Pension age. Therefore, the increasing prevalence of physical disabilities is expected to propel the growth of the bionics market.
What is the segmentation for the bionics market?
The bionics market covered in this report is segmented –
1) By Types: Bionic Brain, Bionic Heart, Bionic Limbs, Bionic Vision, Exoskeleton, Other Types
2) By Fixation: Implantable Bionics, External Bionics
3) By Technology: Mechanical Bionics, Electronic Bionics
4) By Application: Healthcare, Defense
Subsegments:
1) By Bionic Brain: Neural Prosthetics, Brain-Computer Interfaces (Bcis), Deep Brain Stimulation Devices
2) By Bionic Heart: Artificial Heart, Ventricular Assist Devices (Vads), Heart Valve Prostheses
3) By Bionic Limbs: Prosthetic Arms, Prosthetic Legs, Bionic Hands And Fingers
4) By Bionic Vision: Retinal Implants, Visual Prosthetics, Bionic Eyewear
5) By Exoskeleton: Lower Body Exoskeletons, Full-Body Exoskeletons, Upper Body Exoskeletons
6) By Other Types: Bionic Ears, Bionic Skin, Bionic Organs
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Who are the most influential companies in the bionics market?
Major companies operating in the bionics market are Boston Scientific Corporation, Zollner Elektronik AG, Sonova Holding AG, Ottobock SE & Co. KGaA, Cochlear Limited, Bioengineering Technology Inc., Össur hf, Hanger Inc., BionX Medical Technologies Inc., DarioHealth Corp., Cyberdyne Inc., Syncardia Systems LLC, AlterG Inc., Ekso Bionics Holdings Inc., MediTouch Ltd., ReWalk Robotics Ltd., Retina Implant AG, Human Engineering, Pixium Vision, Second Sight Medical Products Inc., Bionik Laboratories Corp., Neuroprosthetics Ltd., Sierra Bionics, Vincross Inc.
What are the top industry trends projected to impact the bionics market?
Major companies operating in the bionics market are developing technologically innovative solutions, such as the bionic pancreas automated insulin delivery systems, to improve diabetes management by closely mimicking the function of a healthy pancreas. The bionic pancreas automated insulin delivery system is a device that automatically adjusts insulin delivery based on real-time glucose monitoring to more closely replicate natural pancreatic function. For instance, in December 2023, Beta Bionics Inc., a US-based biotechnology company, launched iLet bionic pancreas, an advanced automated insulin delivery system designed to simplify diabetes management. It integrates with continuous glucose monitors (CGMs) to provide real-time glucose readings and adjust insulin delivery accordingly. The system requires minimal user input, primarily just the patient’s weight, eliminating the need for complex calculations like insulin-to-carb ratios or correction factors. The iLet Bionic Pancreas features closed-loop functionality that autonomously manages insulin dosing, making it user-friendly and reducing the burden on both patients and healthcare providers.
What are the major regional insights for the bionics market, and which region holds the top position?
North America was the largest region in the bionics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bionics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Bionics Market Report 2025 Offer?
The bionics market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Bionics is the integration of biological systems with electronic or mechanical devices to enhance or restore bodily functions. This field combines aspects of biology and technology to develop advanced prosthetics, implants, and other devices that improve or restore human capabilities.
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