Product Code: PHA1272
The global Bionic Devices market is projected to grow at a CAGR of 9.5% by 2033.
“The Bionic Devices Market Report 2023-2033”: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Continuous Research and Development Efforts in the Area of Bionic Devices Projected to Spur Industry Growth
Market growth in the field of bionic devices is significantly driven by continuous research and development efforts. Companies, academic institutions, and healthcare organizations are heavily investing in research to create innovative technologies, improve existing devices, and expand the applications of bionic devices. These advancements foster innovation and broaden the array of solutions available to patients. One of the primary focuses of bionic device companies is to develop technologies that restore or enhance sensory functions, such as vision, hearing, and touch. For instance, they are working on retinal implants to restore vision, cochlear implants to improve hearing, and haptic interfaces that provide tactile feedback to amputees, enhancing their sensory experiences.
For instance, in December 2022, Pixium Vision SA announced the successful completion of implantations in all patients enrolled in the PRIMAvera European pivotal trial. This trial targets atrophic dry age-related macular degeneration (dry AMD aiming to restore vision and improve the quality of life for affected individuals through their retinal implant technology.
High Cost of Bionic Devices Likely to Challenge Industry Growth
Bionic devices are often expensive due to the intricate technology, extensive research, and development involved in their creation. The high costs associated with bionic devices can present significant challenges, limiting their accessibility and affordability for certain patients. This becomes a particular concern in regions with limited healthcare resources and inadequate insurance coverage. For instance, the basic prosthetic limbs without advanced functionalities may start at around $5,000, while more advanced bionic prosthetic limbs equipped with motorized joints, sensory feedback, and advanced control systems can cost between $10,000 and $100,000 or even more. Also, cochlear implant systems typically come with a price tag between $30,000 and $60,000 per ear, covering expenses for the surgery, the implant device, and post-operative care.
What Questions Should You Ask before Buying a Market Research Report?
- How is the bionic devices market evolving?
- What is driving and restraining the bionic devices market?
- How will each bionic devices submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2033?
- How will the market shares for each bionic devices submarket develop from 2023 to 2033?
- What will be the main driver for the overall market from 2023 to 2033?
- Will leading bionic devices markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2033 and which geographical region will lead the market in 2033?
- Who are the leading players and what are their prospects over the forecast period?
- What are the bionic devices projects for these leading companies?
- How will the industry evolve during the period between 2023 and 2033? What are the implications of bionic devices projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the bionic devices market?
- Where is the bionic devices market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
You need to discover how this will impact the bionic devices market today, and over the next 10 years:
- Our 279-page report provides 114 tables and 181 charts/graphs exclusively to you
- The report highlights key lucrative areas in the industry so you can target them - NOW
- It contains in-depth analysis of global, regional and national sales and growth
- It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you TODAY how the bionic devices market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2033 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2033, our new study provides you with recent results, growth rates, and market shares
- You will find original analyses, with business outlooks and developments
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising bionic devices prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, ""V" ", "L", "W" and "U" are discussed in this report.
Segments Covered in the Report:
Fixation Outlook
- Implantable Bionics
- External Bionics
Type
- Cochlear Implants
- Heart Bionics
- Orthopaedic Bionics
- Exoskeleton Bionics
- Neural Bionics
- Others
Technology
- Electronic Bionics
- Mechanical Bionics
End-users
- Hospitals & Clinics
- Ambulatory Surgical Centres (ASCs)
- Others
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 22 leading national markets:
North America
Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
MEA
- GCC
- South Africa
- Rest of MEA
The report also includes profiles and for some of the leading companies in the Bionic Devices Market, 2023 to 2033, with a focus on this segment of these companies' operations.
Leading companies and the potential for market growth:
- Abbott Laboratories
- Boston Scientific Corporation
- Cochlear Ltd
- Demant A/S
- Ekso Bionics
- Johnson & Johnson
- LivaNova, PLC
- Medtronic PLC
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- Ossur
- Ottobock (BionX Medical Technologies, Inc.)
- PIXIUM VISION
- Sonova
- SynCardia Systems, LLC
- Zimmer Biomet
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Overall world revenue for Bionic Devices Market, 2023 to 2033 in terms of value the market will surpass US$20 billion in 2023, our work calculates. We predict strong revenue growth through to 2033. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
How will the Bionic Devices Market, 2023 to 2033 report help you?
In summary, our 270+ page report provides you with the following knowledge:
- Revenue forecasts to 2033 for Bionic Devices Market, 2023 to 2033 Market, with forecasts for fixation, type, technology, and end-users, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2033 for five regional and 22 key national markets - See forecasts for the Bionic Devices Market, 2023 to 2033 market in North America, Europe, Asia-Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 14 of the major companies involved in the Bionic Devices Market, 2023 to 2033.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Our study is for everybody needing commercial analyses for the Bionic Devices Market, 2023 to 2033, market-leading companies. You will find data, trends and predictions.
Table of Contents
1 Report Overview
- 1.1 Objectives of the Study
- 1.2 Introduction to Bionic Devices Market
- 1.3 What This Report Delivers
- 1.4 Why You Should Read This Report
- 1.5 Key Questions Answered by This Analytical Report
- 1.6 Who is This Report for?
- 1.7 Methodology
- 1.7.1 Market Definitions
- 1.7.2 Market Evaluation & Forecasting Methodology
- 1.7.3 Data Validation
- 1.7.3.1 Primary Research
- 1.7.3.2 Secondary Research
- 1.8 Frequently Asked Questions (FAQs)
- 1.9 Associated Visiongain Reports
- 1.10 About Visiongain
2 Executive Summary
3 Market Overview
- 3.1 Key Findings
- 3.2 Market Dynamics
- 3.2.1 Market Driving Factors
- 3.2.1.1 Technological Advancements is Driving the Market Growth
- 3.2.1.2 Increasing Prevalence of Chronic Diseases and Disabilities
- 3.2.1.3 Growing Aging Population is Expected to boost the Demand for Bionic Devices
- 3.2.1.4 Growing Emphasis on Rehabilitation and Functional Recovery in Healthcare
- 3.2.2 Market Restraining Factors
- 3.2.2.1 High Cost of Bionic Devices
- 3.2.2.2 Limited Reimbursement Coverage
- 3.2.2.3 Limited Awareness and Education
- 3.2.2.4 Need for Device Longevity and Maintenance could Hinder the Market Growth
- 3.2.3 Market Opportunities
- 3.2.3.1 Expansion into Emerging Markets
- 3.2.3.2 Collaboration with Other Bionic Devices Companies and Healthcare Providers
- 3.2.3.3 Ongoing Research and Development
- 3.3 Harnessing the Power of Artificial Intelligence in Prosthetic Technology
- 3.4 COVID-19 Impact Analysis
- 3.5 Porter's Five Forces Analysis
- 3.5.1 Bargaining Power of Suppliers
- 3.5.2 Bargaining Power of Buyers
- 3.5.3 Competitive Rivalry
- 3.5.4 Threat from Substitutes
- 3.5.5 Threat of New Entrants
- 3.6 PEST Analysis
4 Bionic Devices Market Analysis by Fixation
- 4.1 Key Findings
- 4.2 Fixation Segment: Market Attractiveness Index
- 4.3 Bionic Devices Market Size Estimation and Forecast by Fixation
- 4.4 Implantable Bionics
- 4.4.1 Market Size by Region, 2023-2033 (US$ Billion)
- 4.4.2 Market Share by Region, 2023 & 2033 (%)
- 4.5 External Bionics
- 4.5.1 Market Size by Region, 2023-2033 (US$ Billion)
- 4.5.2 Market Share by Region, 2023 & 2033 (%)
5 Bionic Devices Market Analysis by Type
- 5.1 Key Findings
- 5.2 Type Segment: Market Attractiveness Index
- 5.3 Bionic Devices Market Size Estimation and Forecast by Type
- 5.4 Heart Bionics
- 5.4.1 Market Size by Region, 2023-2033 (US$ Billion)
- 5.4.2 Market Share by Region, 2023 & 2033 (%)
- 5.5 Neural Bionics
- 5.5.1 Market Size by Region, 2023-2033 (US$ Billion)
- 5.5.2 Market Share by Region, 2023 & 2033 (%)
- 5.6 Cochlear Implants
- 5.6.1 Market Size by Region, 2023-2033 (US$ Billion)
- 5.6.2 Market Share by Region, 2023 & 2033 (%)
- 5.7 Orthopaedic Bionics
- 5.7.1 Market Size by Region, 2023-2033 (US$ Billion)
- 5.7.2 Market Share by Region, 2023 & 2033 (%)
- 5.8 Exoskeleton Bionics
- 5.8.1 Market Size by Region, 2023-2033 (US$ Billion)
- 5.8.2 Market Share by Region, 2023 & 2033 (%)
- 5.9 Others
- 5.9.1 Market Size by Region, 2023-2033 (US$ Billion)
- 5.9.2 Market Share by Region, 2023 & 2033 (%)
6 Bionic Devices Market Analysis by Technology
- 6.1 Key Findings
- 6.2 Technology Segment: Market Attractiveness Index
- 6.3 Bionic Devices Market Size Estimation and Forecast by Technology
- 6.4 Electronic Bionics
- 6.4.1 Market Size by Region, 2023-2033 (US$ Billion)
- 6.4.2 Market Share by Region, 2023 & 2033 (%)
- 6.5 Mechanical Bionics
- 6.5.1 Market Size by Region, 2023-2033 (US$ Billion)
- 6.5.2 Market Share by Region, 2023 & 2033 (%)
7 Bionic Devices Market Analysis by End-users
- 7.1 Key Findings
- 7.2 End-users Segment: Market Attractiveness Index
- 7.3 Bionic Devices Market Size Estimation and Forecast by End-users
- 7.4 Hospitals
- 7.4.1 Market Size by Region, 2023-2033 (US$ Billion)
- 7.4.2 Market Share by Region, 2023 & 2033 (%)
- 7.5 ASCs
- 7.5.1 Market Size by Region, 2023-2033 (US$ Billion)
- 7.5.2 Market Share by Region, 2023 & 2033 (%)
- 7.6 Others
- 7.6.1 Market Size by Region, 2023-2033 (US$ Billion)
- 7.6.2 Market Share by Region, 2023 & 2033 (%)
8 Bionic Devices Market Analysis by Region
- 8.1 Key Findings
- 8.2 Regional Market Size Estimation and Forecast
9 North America Bionic Devices Market Analysis
- 9.1 Key Findings
- 9.2 North America Bionic Devices Market Attractiveness Index
- 9.3 North America Bionic Devices Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 9.4 North America Bionic Devices Market Size Estimation and Forecast by Country
- 9.5 North America Bionic Devices Market Size Estimation and Forecast by Fixation
- 9.6 North America Bionic Devices Market Size Estimation and Forecast by Type
- 9.7 North America Bionic Devices Market Size Estimation and Forecast by Technology
- 9.8 North America Bionic Devices Market Size Estimation and Forecast by End-users
- 9.9 U.S. Bionic Devices Market Analysis
- 9.10 Canada Bionic Devices Market Analysis
10 Europe Bionic Devices Market Analysis
- 10.1 Key Findings
- 10.2 Europe Bionic Devices Market Attractiveness Index
- 10.3 Europe Bionic Devices Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 10.4 Europe Bionic Devices Market Size Estimation and Forecast by Country
- 10.5 Europe Bionic Devices Market Size Estimation and Forecast by Fixation
- 10.6 Europe Bionic Devices Market Size Estimation and Forecast by Type
- 10.7 Europe Bionic Devices Market Size Estimation and Forecast by Technology
- 10.8 Europe Bionic Devices Market Size Estimation and Forecast by End-users
- 10.9 Germany Bionic Devices Market Analysis
- 10.10 UK Bionic Devices Market Analysis
- 10.11 France Bionic Devices Market Analysis
- 10.12 Italy Bionic Devices Market Analysis
- 10.13 Spain Bionic Devices Market Analysis
- 10.14 Russia Bionic Devices Market Analysis
- 10.15 Rest of Europe Bionic Devices Market Analysis
11 Asia Bionic Devices Market Analysis
- 11.1 Key Findings
- 11.2 Asia Bionic Devices Market Attractiveness Index
- 11.3 Asia Bionic Devices Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 11.4 Asia Bionic Devices Market Size Estimation and Forecast by Country
- 11.5 Asia Pacific Bionic Devices Market Size Estimation and Forecast by Fixation
- 11.6 Asia Pacific Bionic Devices Market Size Estimation and Forecast by Type
- 11.7 Asia Pacific Bionic Devices Market Size Estimation and Forecast by Technology
- 11.8 Asia Pacific Bionic Devices Market Size Estimation and Forecast by End-users
- 11.9 Japan Bionic Devices Market Analysis
- 11.10 China Bionic Devices Market Analysis
- 11.11 India Bionic Devices Market Analysis
- 11.12 Australia Bionic Devices Market Analysis
- 11.13 South Korea Bionic Devices Market Analysis
- 11.14 Rest of Asia Bionic Devices Market Analysis
12 Latin America Bionic Devices Market Analysis
- 12.1 Key Findings
- 12.2 Latin America Bionic Devices Market Attractiveness Index
- 12.3 Latin America Bionic Devices Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 12.4 Latin America Bionic Devices Market Size Estimation and Forecast by Country
- 12.5 Latin America Bionic Devices Market Size Estimation and Forecast by Fixation
- 12.6 Latin America Bionic Devices Market Size Estimation and Forecast by Type
- 12.7 Latin America Bionic Devices Market Size Estimation and Forecast by Technology
- 12.8 Latin America Bionic Devices Market Size Estimation and Forecast by End-users
- 12.9 Brazil Bionic Devices Market Analysis
- 12.10 Mexico Bionic Devices Market Analysis
- 12.11 Argentina Bionic Devices Market Analysis
- 12.12 Rest of Latin America Bionic Devices Market Analysis
13 MEA Bionic Devices Market Analysis
- 13.1 Key Findings
- 13.2 MEA Bionic Devices Market Attractiveness Index
- 13.3 MEA Bionic Devices Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 13.4 MEA Bionic Devices Market Size Estimation and Forecast by Country
- 13.5 MEA Bionic Devices Market Size Estimation and Forecast by Fixation
- 13.6 MEA Bionic Devices Market Size Estimation and Forecast by Type
- 13.7 MEA Bionic Devices Market Size Estimation and Forecast by Technology
- 13.8 MEA Bionic Devices Market Size Estimation and Forecast by End-users
- 13.9 GCC Bionic Devices Market Analysis
- 13.10 South Africa Bionic Devices Market Analysis
- 13.11 Rest of MEA Bionic Devices Market Analysis
14 Company Profiles
- 14.1 Company Share Analysis, 2022
- 14.2 Strategic Outlook
- 14.3 Ekso Bionics
- 14.3.1 Company Snapshot
- 14.3.2 Company Overview
- 14.3.3 Financial Analysis
- 14.3.3.1 Net Revenue, 2018-2022
- 14.3.3.2 R&D, 2018-2022
- 14.3.3.3 Regional Market Shares, 2022
- 14.3.3.4 Segment Market Shares, 2022
- 14.3.4 Product Benchmarking
- 14.3.5 Strategic Outlook
- 14.4 Ossur
- 14.4.1 Company Snapshot
- 14.4.2 Company Overview
- 14.4.3 Financial Analysis
- 14.4.3.1 Net Revenue, 2018-2022
- 14.4.3.2 R&D, 2018-2022
- 14.4.3.3 Regional Market Shares, 2022
- 14.4.3.4 Segment Market Shares, 2022
- 14.4.4 Product Benchmarking
- 14.4.5 Strategic Outlook
- 14.5 Cochlear Ltd.
- 14.5.1 Company Snapshot
- 14.5.2 Company Overview
- 14.5.3 Financial Analysis
- 14.5.3.1 Net Revenue, 2018-2022
- 14.5.3.2 R&D, 2018-2022
- 14.5.3.3 Regional Market Shares, 2022
- 14.5.3.4 Segment Market Shares, 2022
- 14.5.4 Product Benchmarking
- 14.5.5 Strategic Outlook
- 14.6 LivaNova, PLC
- 14.6.1 Company Snapshot
- 14.6.2 Company Overview
- 14.6.3 Financial Analysis
- 14.6.3.1 Net Revenue, 2018-2022
- 14.6.3.2 R&D, 2018-2022
- 14.6.3.3 Regional Market Shares, 2022
- 14.6.4 Product Benchmarking
- 14.6.5 Strategic Outlook
- 14.7 Sonova
- 14.7.1 Company Snapshot
- 14.7.2 Company Overview
- 14.7.3 Financial Analysis
- 14.7.3.1 Net Revenue, 2018-2022
- 14.7.3.2 R&D, 2018-2022
- 14.7.3.3 Regional Market Shares, 2022
- 14.7.4 Product Benchmarking
- 14.7.5 Strategic Outlook
- 14.8 Ottobock (BionX Medical Technologies, Inc.)
- 14.8.1 Company Snapshot
- 14.8.2 Company Overview
- 14.8.3 Financial Analysis
- 14.8.3.1 Net Revenue, 2018-2022
- 14.8.3.2 Regional Market Shares, 2022
- 14.8.4 Product Benchmarking
- 14.8.5 Strategic Outlook
- 14.9 Demant A/S
- 14.9.1 Company Snapshot
- 14.9.2 Company Overview
- 14.9.3 Financial Analysis
- 14.9.3.1 Net Revenue, 2018-2022
- 14.9.3.2 R&D, 2018-2022
- 14.9.3.3 Regional Market Shares, 2022
- 14.9.4 Product Benchmarking
- 14.9.5 Strategic Outlook
- 14.10 SynCardia Systems, LLC
- 14.10.1 Company Snapshot
- 14.10.2 Company Overview
- 14.10.3 Product Benchmarking
- 14.10.4 Strategic Outlook
- 14.11 PIXIUM VISION
- 14.11.1 Company Snapshot
- 14.11.2 Company Overview
- 14.11.3 Financial Analysis
- 14.11.3.1 Net Revenue, 2018-2022
- 14.11.3.2 R&D, 2018-2022
- 14.11.4 Product Benchmarking
- 14.11.5 Strategic Outlook
- 14.12 Boston Scientific Corporation
- 14.12.1 Company Snapshot
- 14.12.2 Company Overview
- 14.12.3 Financial Analysis
- 14.12.3.1 Net Revenue, 2018-2022
- 14.12.3.2 R&D, 2018-2022
- 14.12.3.3 Regional Market Shares, 2022
- 14.12.4 Product Benchmarking
- 14.12.5 Strategic Outlook
- 14.13 Medtronic Plc
- 14.13.1 Company Snapshot
- 14.13.2 Company Overview
- 14.13.3 Financial Analysis
- 14.13.3.1 Net Revenue, 2018-2023
- 14.13.3.2 R&D, 2018-2023
- 14.13.3.3 Regional Market Shares, 2023
- 14.13.3.4 Segment Market Shares, 2023
- 14.13.4 Product Benchmarking
- 14.13.5 Strategic Outlook
- 14.14 Abbott Laboratories
- 14.14.1 Company Snapshot
- 14.14.2 Company Overview
- 14.14.3 Financial Analysis
- 14.14.3.1 Net Revenue,2018-2022
- 14.14.3.2 R&D,2018-2022
- 14.14.3.3 Regional Market Shares, 2022
- 14.14.3.4 Segment Market Shares, 2022
- 14.14.4 Product Benchmarking
- 14.14.5 Strategic Outlook
- 14.15 Zimmer Biomet
- 14.15.1 Company Snapshot
- 14.15.2 Company Overview
- 14.15.3 Financial Analysis
- 14.15.3.1 Net Revenue,2018-2022
- 14.15.3.2 R&D,2018-2022
- 14.15.3.3 Regional Market Shares, 2022
- 14.15.3.4 Segment Market Shares, 2022
- 14.15.4 Product Benchmarking
- 14.15.5 Strategic Outlook
- 14.16 Johnson & Johnson
- 14.16.1 Company Snapshot
- 14.16.2 Company Overview
- 14.16.3 Financial Analysis
- 14.16.3.1 Net Revenue,2018-2022
- 14.16.3.2 R&D,2018-2022
- 14.16.3.3 Regional Market Shares, 2022
- 14.16.3.4 Segment Market Shares, 2022
- 14.16.4 Product Benchmarking
- 14.16.5 Strategic Outlook
15 Conclusion and Recommendations
- 15.1 Concluding Remarks from Visiongain
- 15.2 Recommendations for Market Players