The latest research report by Emergen Research, named ‘Global Bionics Market – Forecast to 2027 The Global Bionics Market report carefully investigates the present market scenario and the fundamental growth prospects. The report entails an organized database of the Bionics Market dynamics that helps market analysts estimate the global market growth rate over the projected timeline.
The global bionics market is poised to witness massive growth over the forecast period. A slew of factors is accountable for this market’s growth in the upcoming years, such as increasing organ failure and physical disability due to age-related or congenital disorders and the growing geriatric population. The emergence of new technologies in bionic research, the increasing number of accidents and injuries causing organ deletion, a majority of the population long awaiting organ transplants, and a lack of organ donors are the other key drivers for market growth.
The rise in traffic accidents and severe or irreversible physical injuries resulting in organ failure, organ deletion, or physical handicap are two variables that significantly contribute to the worldwide bionics market revenue growth. Other significant drivers of the global market revenue growth include the growing elderly population worldwide, the incidence of age-related illnesses and congenital conditions, the volume of organ transplants, and the development of cutting-edge bionic technologies and solutions.
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The report provides a sophisticated analysis of the insightful data of the Bionics Market industry that has been formulated based on thorough primary and secondary research. The details have further been validated and verified by the industry experts. The precise data offered by the report offers fruitful information about sales strategies to improve market performance.
COVID-19 Impact on the Global Bionics Market
The latest report specializes in analyzing the unprecedented impact of the COVID-19 outbreak on the global bionics market. The pandemic has beleaguered the global economic landscape since its fateful advent. It has led to considerable losses incurred by various businesses operating in this market, adversely affecting the production and demand cycles. The outbreak has resulted in major price volatility, disrupted supply chains, stock market volatility, lower business confidence, and the growing panic among people
Some Key Highlights From the Report :
Ear Bionics Segment Accounted for Largest Revenue Share in 2019:
Based on product type, the ear bionics segment accounted for the largest revenue share in the global bionics market in 2019. Surge in geriatric population worldwide, rising incidences of hearing disorders leading to deafness or hearing loss, increasing volumes of ear surgeries, and growing demand for highly advanced cochlear implants, auditory brainstem implants, and bone anchored hearing systems are among the major factors driving revenue growth of this segment.
Implantable Bionics Segment to Account for Fastest Revenue CAGR:
Based on method of fixation, the implantable bionics segment is expected to register the fastest revenue growth rate in the global bionics market over the forecast period. Increasing incidences of major road accidents and physical injuries, rising preference for implantable bio-implants due to many advantages over external bionics, development of cutting-edge bionic devices, and increased healthcare expenditures of people are key contributors to the growth of this segment.
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The prominent players participating in this industry include:
· 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
For the purpose of this report, Emergen Research has segmented the global bionics market based on product type, method of fixation, technology, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Ventricular Assist Device
Biventricular Assist Device (BIVAD)
Left Ventricular Assist Device (LVAD)
Right Ventricular Assist Device (RVAD)
Artificial Heart Valves
Deep Brain Stimulators (DBS)
Spinal Cord Stimulators (SCS)
Vagus Nerve Stimulators (VNS)
Sacral Nerve Stimulators (SNS)
Method of Fixation Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
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Global Bionics Market has been classified into the subsequent geographical segments:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Some of the Major Issues Addressed in the Report:
· What are the most popular market segments?
· What are the current scenario’s business risks and consequences for market growth and forecasting?
· Who are the market’s primary players, and how are they dealing with a variety of issues?
Objectives of the Global Bionics Market Study:
· An extensive study of the product portfolios of the major market players and their regional presence
· A closer look at the strategic initiatives undertaken by the leading companies across this industry, including mergers & acquisitions, collaborations, partnerships, and joint ventures
· An in-depth study of the evolving market sectors and the growth & penetration status of the global Bionics Market
· COVID-19 Impact Analysis to highlight the major opportunities and challenges
· Strategic recommendations to help readers formulate lucrative business strategies
· Identification of the emerging players and their tactical approaches to expand market presence
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