Bionics – Introduction:

The term ‘bionics’ is a portmanteau coined by American physician Dr. Jack E. Steele in August 1958, using the words biology and electronics. Bionics, which signifies biologically inspired engineering, is the application of various biological methods to the study and design of engineering systems. In simpler words, bionics is the study of various mechanical systems that function like the natural biological systems of living beings. Common examples of bionics in the field of engineering include radar, sonar, the hulls of boats that imitate dolphins’ thick skin, and medical ultrasound imaging that mimics animal echolocation. In computer science, bionics holds a great deal of significance as it has help scientists develop artificial neural networks, artificial neurons, and swarm intelligence. 

The Global Bionics Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2020-2027. The report studies the historical data of the Bionics market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Bionics industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Bionics market.

COVID-19 Impact on the Global Bionics Market:

The latest report specializes in analyzing the unprecedented impact of the COVID-19 outbreak on the global bionics market. The pandemic has beleaguered the global economic landscape since its fateful advent. It has led to considerable losses incurred by various businesses operating in this market, adversely affecting the production and demand cycles. The outbreak has resulted in major price volatility, disrupted supply chains, stock market volatility, lower business confidence, and the growing panic among people. The significant COVID-induced changes in this industry and the pandemic’s aftereffects on the industry have been assessed in this report.

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Regional Outlook:

North America is said to have dominated the global bionics market, with the largest market share. The regional market is expected to maintain its leading position throughout the forecast years. Market growth in this region is attributed to the increasing rate of chronic disease, expanding geriatric population, increasing government funding for R&D activities, and the mounting number of injuries and accidents resulting in amputation. However, the Asia Pacific region is likely to expand over the projected timeline due to factors such as the escalating prevalence of chronic disorders like cardiac and neural disorders and the surging incidence of hearing and vision loss in the region. The global bionics market is geographically segmented into the following regions:

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • K .
  • France
  • Germany
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • Japan
  • India
  • China
  • Australia
  • Rest of APAC
• Latin America
  • Brazil
• Middle East & Africa

Competitive Landscape:

The prominent players participating in this industry include:

• Medtronic
• Abbott
• Biomet, Inc.
• Zimmer Biomet
• Iwalk, Inc.
• ABIOMED, INC
• Berlin Heart Gmbh
• Ekso Bionics Boston Scientific Corporation
• Edward Lifesciences Corporation
• Jarvik Heart, Inc.
• Heartware International, Inc.
• SynCardia Systems, LLC

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The global bionics market is poised to witness massive growth over the forecast period. A slew of factors is accountable for this market’s growth in the upcoming years, such as increasing organ failure and physical disability due to age-related or congenital disorders and the growing geriatric population. The emergence of new technologies in bionic research, the increasing number of accidents and injuries causing organ deletion, a majority of the population long awaiting organ transplants, and a lack of organ donors are the other key drivers for market growth.

Rising incidence of organ failure due to blood loss, serious trauma, accidents, or drug and alcohol abuse is expected to fuel the global market growth. Moreover, growing disposable incomes of people, increasing R&D funding, expanding patient pool suffering from chronic diseases, evolving healthcare infrastructure, surging awareness about organ transplantation, and advancements in 3D bioprinting for organ transplantation are the other vital factors offering opportunities for the global market expansion. However, factors like the lack of surgical skills, high costs of surgery and bionic implants, and uncertain reimbursement policies in several regions are expected to impede market growth in the years to come.

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Market Segmentation:

By Product Type

• Ear Bionics
  • Cochlear Implants
  • Auditory Brainstem Implants
  • Bone Anchored Hearing Systems
• Vision Bionics
• Orthopedic Bionics
  • Upper limb
  • Lower limb
  • Exoskeleton
  • Electrical Bone Growth Stimulators
• Cardiac Bionics
  • Total Artificial Heart
  • Pacemaker
  • Ventricular Assist Device
    • Biventricular Assist Device (BIVAD)
    • Left Ventricular Assist Device (LVAD)
    • Right Ventricular Assist Device (RVAD)
  • Artificial Heart Valves
• Neural/Brain Bionics
  • Internal Neurostimulators
    • Deep Brain Stimulators (DBS)
    • Spinal Cord Stimulators (SCS)
    • Vagus Nerve Stimulators (VNS)
    • Sacral Nerve Stimulators (SNS)
    • Others

By Method of Fixation

• External Bionics
• Implantable Bionics

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