Bionics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021
Albany, NY -- (SBWIRE) -- 07/21/2015 -- As per the new market report published by Transparency Market Research "Bionics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021," global bionics market was valued at USD 7.96 billion in 2014, growing at a CAGR of 13.2% from 2015 to 2021 to account for USD 20.49 billion in 2021.
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The global bionics market is growing primarily due to the increase in the number of accidents, which is leading to paralysis or amputation of body parts. In addition, increasing cases of organ failures among the aging population is driving the growth of this market. Moreover, the concept of bionics is also being applied in other fields such as defense, in order to build exoskeletons, which can be worn by the soldiers. These exoskeleton suits or bionic suits help them to carry heavy loads and also improve their mobility in the battle field. The bionics market can be segmented into four types into: by types, by application, by technology and by regions.
By types, the bionic limbs held the largest market share of 28% which accounted to 2.23 billion in 2014. The bionic limbs market is expected to dominate the market during the forecast period. Their dominance is due to the rising cases of accidents, which are leading paralysis or amputation of limbs. In addition, the bionic limbs are becoming technically advance and now have the ability to be controlled through signals sent by the brain. These factors are driving the growth of bionic limbs.
By application, the healthcare services is the major segment in the global bionics market. The healthcare sector recorded revenue of USD 5.97 billion in 2014. The reason behind the growth is the increasing technological advancement in this field, which is making the bionics smarter and efficient. However, the defense sector has been analyzed to be the fastest growing application in global bionic market during the forecast period.
By region, North America is leading the regional market for bionics and is expected to dominate the market during the forecast period. The region's dominance is due to the presence of the major bionic vendors such as Baxter International, Inc, Abiomed, Inc and Medtronic Plc among others.
Furthermore, the key players have been profiled in this report on the basis of the company overview, recent development, products/services, historical roadmap and future strategies in the bionics market. The key players in the bionics market include Abiomed, Inc, Baxter International, Inc., Asahi Kasei Medical Co. ltd, Medtronic Plc, SynCardia Systems, Inc. and Sonova Holding AG among others.
The report covers the global bionics market, and provides data in terms of revenue (USD billion) from 2015 to 2021. Market estimates on the basis of types, application and technology for each region.
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The market has been segmented as follows:
Bionics Market: By Types
Bionics Market: By Application
Bionics Market: By Technology
Bionics Market: By Geography
Rest of the World
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
Rest of the World (RoW)
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