The global bionics market is estimated to be valued at USD 7.94 billion in the year 2014 and is expected to reach USD 16.10 billion by 2019. During this period, the market is projected to grow at a CAGR of 15.20%.
Global Bionics Market-Market Dynamics
The report details several factors driving and restraining the market. Some of these are listed below.
It is estimated that out of the patients who need organ transplants, only 10% are provided with transplants and replacements. This has resulted in a long waiting list for the respective transplants to take place. This has been a major plus point for the bionics market. Some of the other factors contributing to the growth of this market are:
Rapidly aging global population
Increasing number of people suffering from organ failures
Rising incidents of motor accidents and other work-related accidents
Increasing technological advancements in the bionics sector
Scarcity of donor organs for those in need
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The major restraints for the market are:
Regulatory requirements for bionics
Inherent expense of these products to the patients who need them
Fear of device malfunction or failure
Criticism from certain health sector personnel advising against the use of bionics
The global bionics market includes bionic instruments for organs such as ears (cochlear), cardiac, brain and bionics for exoskeletons. Geographically, the market is divided into North America, Europe, APAC and the Rest of the World. Among these, the North American region holds the largest market share, the reason being the high per capita income in this region and the higher awareness levels among the population. Following North America, Europe is the second largest market. APAC is a market with immense potential. The need for bionics is higher than in other regions. This is a good place for new entrants to the market.
Some of the key players in the market are:
F Hoffman-La Roche Ltd
Nano Retina, Inc.
What the Report Offers
Market definition for the global bionics market along with identification of key drivers and restraints for the market.
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Market analysis for the bionics market, with region-specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
An exhaustive understanding of the worldwide market for bionics.
A comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade
An ideal opportunity for industry consultants and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered.
Wide-ranging information provided about the leading market players and the major strategies adopted by them.
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Some points from TOC:
1.1 Report Description
1.2 Research Methodology
1.3 Major Stakeholders
- Executive Summary
2.1 Key Findings
2.2 Market Overview
- Market Overview
3.1 Market Definition
3.2 Market Drivers
3.2.1 Scarcity of Donor Organs
3.2.2 Increased incidence of disabilities & organ failures
3.2.3 Technological Advancements
3.2.4 Rapidly aging population
3.3 Market Restraints
3.3.1 Expensive procedures
3.3.2 Fear of device malfunction and its consequences
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