Bionic Devices Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis
Buy NowBionic Devices Market Outlook
Bionic Devices Market is forecasted to be priced at around US$ 9.37 Billion by 2030, according to Renub Research. The demand for bionic devices has surged in modern times because of their transformative effect on the quality of existence. These innovations, including prosthetic limbs and cochlear implants, help bridge the space between disability and capacity. Advancements in technology, such as biofeedback systems and neural interfaces, are increasingly popular for their seamless integration with the human body. As society embraces inclusivity and accessibility, bionic devices are not just tools but symbols of empowerment, propelling their sizable adoption and recognition.
Bionic Devices Market is predicted to advance at a CAGR of 8.44% between 2024 and 2030.
The market is witnessing a substantial increase propelled by the escalating prevalence of continual illnesses and disabilities internationally. Conditions, which include diabetes, cardiovascular ailments, and age-related disabilities, are driving the need for modern solutions to replace functionality and develop quality of life. Bionic devices offer a promising road for individuals facing mobility, sensory, or organ-related challenges. Further, road traffic wounds are the foremost cause of death by damage globally. According to the World Health Organisation, about 1.19 million humans die each year because of street traffic crashes, and it costs most countries 3% of their gross domestic product. This boom in road accidents has led to misplaced limbs, and bionic devices now give humans a second chance at life, resulting in steady market growth.
Technological improvements and extensive research and improvement efforts are critical drivers for expanding the development of the global bionic devices market. Breakthroughs in materials, technological know-how, robotics, and bioengineering have created more and better state-of-the-art bionic devices that carefully mimic natural human features. From neural interfaces for seamless brain-machine communication to advanced sensors enhancing observation mechanisms, innovation is unlocking new possibilities. This relentless pursuit of development enhances device performance and expands the range of applications, driving a market boom and fostering an inclusive future.
North America currently holds a dominant function in the bionic devices market. The area is profiting from expanded demand for non-invasive surgical methods and an upward push in chronic sicknesses, supporting growth. Rehabilitation and functional recovery have become increasingly important in healthcare, and bionic devices are critical in helping people with disabilities regain or enhance their physical abilities. Integrating bionic devices into rehabilitation packages has shown promising outcomes, significantly improving mobility, sensory belief, and usual capability. This developing emphasis on rehabilitation and functional healing is vital to adopting and utilizing bionic devices. So, the global bionic devices market was US$ 5.32 Billion in 2023.
Auditory Bionic/Cochlear implants might drive the bionic devices market
By products, the global bionic devices market is fragmented into Auditory Bionic/Cochlear Implants, Heart Transplant, Orthopedic Bionics, and Neural Bionics. Auditory bionic/cochlear implants are poised to be one of the steering factors in the global bionic devices market. This is due to their profound effect on improving hearing competencies. With a rising incidence of hearing impairments worldwide, these implants provide an existence-changing response by immediately stimulating the auditory nerve. Technological improvements have progressed implant layout, capability, and compatibility, leading to better adoption costs. Further, increasing consciousness and attractiveness of such implants among scientific professionals and sufferers bolsters their function as frontrunners in the bionic devices market.
Implantable fixation is one of the increasing segments of the bionic devices market
By fixation, the global bionic devices market is segmented into Implantable and Wearable/Externally Worn. Implantable fixation emerges as one of the recognized segments in the market due to its crucial position in numerous medical strategies. These devices, along with bone anchors and screws, offer secure attachment points for prosthetics, implants, and orthopedic constructs, making sure stability and sturdiness. As the aging population grows and demand for joint replacements and orthopedic surgeries increases, implantable fixation will become indispensable. Technological advancements improving biocompatibility, durability, and customization similarly power its reputation, positioning it as a cornerstone in the bionic devices market.
Mechanical technology plays a crucial role in the worldwide market of bionic devices
By technology, the global bionic devices market is categorized into Electronics and Mechanical. Mechanical technology is among the critical segments in the global bionic devices market. This is thanks to its versatility and vast applicability throughout numerous clinical fields. Mechanical gadgets offer tangible answers for mobility impairment and rehabilitation, from prosthetic limbs to exoskeletons. Advancements such as lightweight materials, advanced joints, and responsive control structures enhance capability and personal experience. With a growing older population and an increasing occurrence of disabilities, mechanical bionic devices have become crucial tools that ensure independence and improve the quality of life. This drives their significance in the bionic devices market.
Hospitals and clinics might lead the bionic devices market
By end-users, the global bionic devices market is classified into Hospitals & Clinics, Ambulatory Surgical Centers, and Healthcare Facilities. Hospitals and clinics are anticipated to be one of the dominant sections in the bionic devices market. This is because of their pivotal function as healthcare carrier providers and points of access for patients. These establishments function as hubs for prognosis, treatment, and rehabilitation, propelling the demand for bionic devices throughout numerous scientific specialties. With a focus on turning into comprehensive care, hospitals and clinics invest in trendy technology and partner with device producers to provide modern-day solutions to patients. This symbiotic relationship positions them as dominant players in the bionic devices market, facilitating massive adoption and accessibility.
United States leads the bionic devices market and is expected to maintain its dominance in the forecast period
By countries, the global bionic devices market is divided into North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey), Asia Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, New Zealand), Latin America (Brazil, Mexico, Argentina), Middle East & Africa (South Africa, Saudi Arabia, and the United Arab Emirates). The United States holds the highest market percentage of bionic devices. This is because of its robust healthcare infrastructure, excessive healthcare spending, fostering innovation, and adopting superior scientific technology. The presence of leading bionic tool manufacturers, research institutions, and skilled healthcare professionals further solidifies its role. Also, favorable reimbursement regulations and substantial patient masses drive market growth. With a lifestyle of innovation and entrepreneurship, the United States keeps the lead in developing and commercializing contemporary bionic devices, maintaining its dominance globally.
Key Players
Abbott Laboratories, Abiomed, Edward Lifesciences Corp., Rewalk Robotics Ltd., Boston Scientific Corp, Baxter International Inc., Cochlear Ltd., Medtronic Plc, William Demant Holdings A/S, and EKSO Bionics Holdings Inc. are the major companies in the global bionic devices market.
- In July 2023 - Abbott announced that the AVEIR dual chamber (DR) leadless pacemaker system had been affirmed by the United States Food and Drug Administration (FDA). This innovative system is the first of its kind, offering a dual chamber leadless pacing solution to help patients suffering from abnormal or slow heart rhythms.
Renub Research report titled “Global Bionic Devices Market By Product (Auditory Bionic/Cochlear Implants, Heart Transplant, Orthopedic Bionics, and Neural Bionics), Fixation (Implantable and Wearable/Externally Worn), Technology (Electronics and Mechanical), End-Users (Hospitals & Clinics, Ambulatory Surgical Centers, and Healthcare Facilities), Countries (North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey), Asia Pacific (China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, New Zealand), Latin America (Brazil, Mexico, Argentina), Middle East & Africa (Saudi Arabia, and the United Arab Emirates, South Africa)) Company Analysis (Abbott Laboratories, Abiomed, Edward Lifesciences Corp., Rewalk Robotics Ltd., Boston Scientific Corp, Baxter International Inc., Cochlear Ltd., Medtronic Plc, William Demant Holdings A/S, and EKSO Bionics Holdings Inc.)” provides a complete study of the Global Bionic Devices Industry.
Product – Bionic Devices Market breakup in 4 viewpoints:
1. Auditory Bionic/Cochlear Implants
2. Heart Transplant
3. Orthopedic Bionics
4. Neural Bionics
Fixation – Bionic Devices Market breakup in 2 viewpoints:
1. Implantable
2. Wearable/Externally Worn
Technology – Bionic Devices Market breakup in 2 viewpoints:
1. Electronics
2. Mechanical
End-User – Bionic Devices Market breakup in 3 viewpoints:
1. Hospitals & Clinics
2. Ambulatory Surgical Centers
3. Healthcare Facilities
Countries – Bionic Devices Market breakup of 25 Countries:
1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
• Overview
• Recent Developments
• Revenue Analysis
Company Analysis:
1. Abbott Laboratories
2. Abiomed
3. Edward Lifesciences Corp.
4. Rewalk Robotics Ltd.
5. Boston Scientific Corp.
6. Baxter International Inc.
7. Cochlear Ltd.
8. Medtronic Plc,
9. William Demant Holdings A/S
10. EKSO Bionics Holdings Inc.
Report Details:
| Report Features | Details |
| Base Year | 2023 |
| Historical Period | 2020 - 2023 |
| Forecast Period | 2024 - 2030 |
| Market | US$ Billion |
| Segment Covered | Product, Fixation, Technology, End-User, and Countries |
| Countries Covered | United States, Canada, France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey, China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, New Zealand, Brazil, Mexico, Argentina, Saudi Arabia, the United Arab Emirates, and South Africa |
| Companies Covered | Abbott Laboratories, Abiomed, Edward Lifesciences Corp., Rewalk Robotics Ltd., Boston Scientific Corp, Baxter International Inc., Cochlear Ltd., Medtronic Plc, William Demant Holdings A/S, and EKSO Bionics Holdings Inc. |
| Customization Scope | 20% Free Customization |
| Post-Sale Analyst Support | 1 Year (52 Weeks) |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request) |
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Bionic Devices Market
6. Market Share – Global Bionic Devices Market
6.1 By Product
6.2 By Fixation
6.3 By Technology
6.4 By End User
6.5 By Countries
7. Product – Global Bionic Devices Market
7.1 Auditory Bionic/Cochlear Implants
7.2 Heart Transplant
7.3 Orthopedic Bionics
7.4 Neural Bionics
8. Fixation– Global Bionic Devices Market
8.1 Implantable
8.2 Wearable/Externally Worn
9. Technology – Global Bionic Devices Market
9.1 Electronics
9.2 Mechanical
10. End User – Global Bionic Devices Market
10.1 Hospitals & Clinics
10.2 Ambulatory Surgical Centers
10.3 Healthcare Facilities
11. Countries – Global Bionic Devices Market
11.1 North America
11.1.1 United States
11.1.2 Canada
11.2 Europe
11.2.1 France
11.2.2 Germany
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Belgium
11.2.7 Netherlands
11.2.8 Turkey
11.3 Asia Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 South Korea
11.3.5 Thailand
11.3.6 Malaysia
11.3.7 Indonesia
11.3.8 Australia
11.3.9 New Zealand
11.4 Latin America
11.4.1 Brazil
11.4.2 Mexico
11.4.3 Argentina
11.5 Middle East & Africa
11.5.1 Saudi Arabia
11.5.2 United Arab Emirates
11.5.3 South Africa
12. Porter’s Five Forces – Global Bionic Devices Market
12.1 Bargaining Power of Buyer
12.2 Bargaining Power of Supplier
12.3 Threat of New Entrants
12.4 Rivalry among Existing Competitors
12.5 Threat of Substitute Products
13. SWOT Analysis – Global Bionic Devices Market
13.1 Strengths
13.2 Weaknesses
13.3 Opportunities
13.4 Threats
14. Key Players Analysis
14.1 Abbott Laboratories
14.1.1 Overview
14.1.2 Recent Development
14.1.3 Revenue
14.2 Abiomed
14.2.1 Overview
14.2.2 Recent Development
14.2.3 Revenue
14.3 Edward Lifesciences Corp.
14.3.1 Overview
14.3.2 Recent Development
14.3.3 Revenue
14.4 Rewalk Robotics Ltd
14.4.1 Overview
14.4.2 Recent Development
14.4.3 Revenue
14.5 Boston Scientific Corp
14.5.1 Overview
14.5.2 Recent Development
14.5.3 Revenue
14.6 Baxter International Inc.
14.6.1 Overview
14.6.2 Recent Development
14.6.3 Revenue
14.7 Cochlear Ltd.
14.7.1 Overview
14.7.2 Recent Development
14.7.3 Revenue
14.8 Medtronic Plc
14.8.1 Overview
14.8.2 Recent Development
14.8.3 Revenue
14.9 William Demant Holdings A/S
14.9.1 Overview
14.9.2 Recent Development
14.9.3 Revenue
14.10 EKSO Bionics Holdings Inc.
14.10.1 Overview
14.10.2 Recent Development
14.10.3 Revenue
List of Figures:
Figure-01: Global – Bionic Devices Market (Billion US$), 2020 – 2023
Figure-02: Global – Forecast for Bionic Devices Market (Billion US$), 2024 – 2030
Figure-03: Product – Auditory Bionic/Cochlear Implants Market (Million US$), 2020 – 2023
Figure-04: Product – Forecast for Auditory Bionic/Cochlear Implants Market (Million US$), 2024 – 2030
Figure-05: Product – Heart Transplant Market (Million US$), 2020 – 2023
Figure-06: Product – Forecast for Heart Transplant Market (Million US$), 2024 – 2030
Figure-07: Product – Orthopedic Bionics Market (Million US$), 2020 – 2023
Figure-08: Product – Forecast for Orthopedic Bionics Market (Million US$), 2024 – 2030
Figure-09: Product – Neural Bionics Market (Million US$), 2020 – 2023
Figure-10: Product – Forecast for Neural Bionics Market (Million US$), 2024 – 2030
Figure-11: Fixation – Implantable Market (Million US$), 2020 – 2023
Figure-12: Fixation – Forecast for Implantable Market (Million US$), 2024 – 2030
Figure-13: Fixation – Wearable/Externally Worn Market (Million US$), 2020 – 2023
Figure-14: Fixation – Forecast for Wearable/Externally Worn Market (Million US$), 2024 – 2030
Figure-15: Technology – Electronics Market (Million US$), 2020 – 2023
Figure-16: Technology – Forecast for Electronics Market (Million US$), 2024 – 2030
Figure-17: Technology – Mechanical Market (Million US$), 2020 – 2023
Figure-18: Technology – Forecast for Mechanical Market (Million US$), 2024 – 2030
Figure-19: End User – Hospitals & Clinics Market (Million US$), 2020 – 2023
Figure-20: End User – Forecast for Hospitals & Clinics Market (Million US$), 2024 – 2030
Figure-21: End User – Ambulatory Surgical Centers Market (Million US$), 2020 – 2023
Figure-22: End User – Forecast for Ambulatory Surgical Centers Market (Million US$), 2024 – 2030
Figure-23: End User – Healthcare Facilities Market (Million US$), 2020 – 2023
Figure-24: End User – Forecast for Healthcare Facilities Market (Million US$), 2024 – 2030
Figure-25: United States – Bionic Devices Market (Million US$), 2020 – 2023
Figure-26: United States – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-27: Canada – Bionic Devices Market (Million US$), 2020 – 2023
Figure-28: Canada – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-29: France – Bionic Devices Market (Million US$), 2020 – 2023
Figure-30: France – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-31: Germany – Bionic Devices Market (Million US$), 2020 – 2023
Figure-32: Germany – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-33: Italy – Bionic Devices Market (Million US$), 2020 – 2023
Figure-34: Italy – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-35: Spain – Bionic Devices Market (Million US$), 2020 – 2023
Figure-36: Spain – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-37: United Kingdom – Bionic Devices Market (Million US$), 2020 – 2023
Figure-38: United Kingdom – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-39: Belgium – Bionic Devices Market (Million US$), 2020 – 2023
Figure-40: Belgium – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-41: Netherlands – Bionic Devices Market (Million US$), 2020 – 2023
Figure-42: Netherlands – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-43: Turkey – Bionic Devices Market (Million US$), 2020 – 2023
Figure-44: Turkey – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-45: China – Bionic Devices Market (Million US$), 2020 – 2023
Figure-46: China – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-47: Japan – Bionic Devices Market (Million US$), 2020 – 2023
Figure-48: Japan – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-49: India – Bionic Devices Market (Million US$), 2020 – 2023
Figure-50: India – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-51: South Korea – Bionic Devices Market (Million US$), 2020 – 2023
Figure-52: South Korea – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-53: Thailand – Bionic Devices Market (Million US$), 2020 – 2023
Figure-54: Thailand – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-55: Malaysia – Bionic Devices Market (Million US$), 2020 – 2023
Figure-56: Malaysia – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-57: Indonesia – Bionic Devices Market (Million US$), 2020 – 2023
Figure-58: Indonesia – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-59: Australia – Bionic Devices Market (Million US$), 2020 – 2023
Figure-60: Australia – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-61: New Zealand – Bionic Devices Market (Million US$), 2020 – 2023
Figure-62: New Zealand – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-63: Brazil – Bionic Devices Market (Million US$), 2020 – 2023
Figure-64: Brazil – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-65: Mexico – Bionic Devices Market (Million US$), 2020 – 2023
Figure-66: Mexico – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-67: Argentina – Bionic Devices Market (Million US$), 2020 – 2023
Figure-68: Argentina – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-69: Saudi Arabia – Bionic Devices Market (Million US$), 2020 – 2023
Figure-70: Saudi Arabia – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-71: United Arab Emirates – Bionic Devices Market (Million US$), 2020 – 2023
Figure-72: United Arab Emirates – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-73: South Africa – Bionic Devices Market (Million US$), 2020 – 2023
Figure-74: South Africa – Forecast for Bionic Devices Market (Million US$), 2024 – 2030
Figure-75: Abbott Laboratories – Global Revenue (Million US$), 2020 – 2023
Figure-76: Abbott Laboratories – Forecast for Global Revenue (Million US$), 2024 – 2030
Figure-77: Abiomed – Global Revenue (Million US$), 2020 – 2023
Figure-78: Abiomed – Forecast for Global Revenue (Million US$), 2024 – 2030
Figure-79: Edward Lifesciences Corp. – Global Revenue (Million US$), 2020 – 2023
Figure-80: Edward Lifesciences Corp. – Forecast for Global Revenue (Million US$), 2024 – 2030
Figure-81: Rewalk Robotics Ltd – Global Revenue (Million US$), 2020 – 2023
Figure-82: Rewalk Robotics Ltd – Forecast for Global Revenue (Million US$), 2024 – 2030
Figure-83: Boston Scientific Corp – Global Revenue (Million US$), 2020 – 2023
Figure-84: Boston Scientific Corp – Forecast for Global Revenue (Million US$), 2024 – 2030
Figure-85: Baxter International Inc. – Global Revenue (Million US$), 2020 – 2023
Figure-86: Baxter International Inc. – Forecast for Global Revenue (Million US$), 2024 – 2030
Figure-87: Cochlear Ltd. – Global Revenue (Million US$), 2020 – 2023
Figure-88: Cochlear Ltd. – Forecast for Global Revenue (Million US$), 2024 – 2030
Figure-89: Medtronic Plc – Global Revenue (Million US$), 2020 – 2023
Figure-90: Medtronic Plc – Forecast for Global Revenue (Million US$), 2024 – 2030
Figure-91: William Demant Holdings A/S – Global Revenue (Million US$), 2020 – 2023
Figure-92: William Demant Holdings A/S – Forecast for Global Revenue (Million US$), 2024 – 2030
Figure-93: EKSO Bionics Holdings Inc. – Global Revenue (Million US$), 2020 – 2023
Figure-94: EKSO Bionics Holdings Inc. – Forecast for Global Revenue (Million US$), 2024 – 2030
List of Tables:
Table-01: Global – Bionic Devices Market Share by Product (Percent), 2020 – 2023
Table-02: Global – Forecast for Bionic Devices Market Share by Product (Percent), 2024 – 2030
Table-03: Global – Bionic Devices Market Share by Fixation (Percent), 2020 – 2023
Table-04: Global – Forecast for Bionic Devices Market Share by Fixation (Percent), 2024 – 2030
Table-05: Global – Bionic Devices Market Share by Technology (Percent), 2020 – 2023
Table-06: Global – Forecast for Bionic Devices Market Share by Technology (Percent), 2024 – 2030
Table-07: Global – Bionic Devices Market Share by End User (Percent), 2020 – 2023
Table-08: Global – Forecast for Bionic Devices Market Share by End User (Percent), 2024 – 2030
Table-09: Global – Bionic Devices Market Share by Countries (Percent), 2020 – 2023
Table-10: Global – Forecast for Bionic Devices Market Share by Countries (Percent), 2024 – 2030
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