
Bionic Devices Market Report 2023-2033
Description
Bionic Devices Market Report 2023-2033
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.
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Forecasts to 2033 and other analyses reveal commercial prospects
Segments Covered in the Report
Fixation Outlook
North America
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Table of Contents
279 Pages
- 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 Össur
- 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
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