Bionics Market Evolution: Growth Drivers and Strategies of Leading Players

I. D.'s Blog

Posted: Sun March 31 11:32 PM PDT
Member: Isha Deshpande

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 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.

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Competitive Terrain:

The global Bionics industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

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

Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Bionics market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the Bionics market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Bionics market.

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Market Segmentations of the Bionics Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Bionics market on the basis of product, application, and region:

Segments Covered in this report are:

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