Bionics: Technologies and Global Markets

NEW YORK, July 12, 2017 /PRNewswire/ --

Use this report to:
- Gain insight into bionics industry, major types of bionics device and rapidly evolving technologies.
- Identify key market dynamics and the factors that may influence the long-term market for bionic devices.


Read the full report: http://www.reportlinker.com/p04754986/Bionics-Technologies-and-Global-Markets.html


- Assess current market trends, drivers and restraints in respect to bionics devices, and analyze their position therein and make key business decisions.
- Evaluate the leading market players of bionics devices, their corporate profile and recent developments to draw a competitive landscape for the market leaders.

Highlights
- The global market for bionic devices reached $2.8 billion and $3.2 billion in 2015 and 2016 respectively. The market should reach $6.4 billion by 2021, growing at a compound annual growth rate (CAGR) of 15.2% from 2016 to 2021; and $12.1 billion by 2026 at a CAGR of 13.6% from 2021 to 2026.
- The bionics market for sensory devices reached $1.7 billion in 2016. The market should reach
- $4.1 billion by 2021, growing at a CAGR of 18.9% from 2016 to 2021; and $8.4 billion by 2026 at a CAGR of 15.1% from 2021 to 2026.
- The bionics market for limbs and exoskeleton reached $297 million in 2016. The market should reach $550 million by 2021, growing at a CAGR of 13.1% from 2016 to 2021; and $1.1 billion by 2026 at a CAGR of 15.3% from 2021 to 2026.

INTRODUCTION STUDY BACKGROUND
There are various definitions of "bionics," which is one of the reasons why estimates of the total size of the market for bionics vary so widely. This BCC Research study defines bionics as all electromechanical devices that are worn on or inside the body and assist the wearer in interacting with the environment (including other humans) by locomoting through it, manipulating or exerting force on it, or perceiving it. Bionics also include certain artificial replacement organs such as hearts, which are vital for the kinds of environmental interactions described above, or which process and eliminate unnecessary or damaging substances taken in from the environment.

Defined in this way, bionic devices overlap, but also are distinct from prosthetics on the one hand, and microelectronic implants on the other. Both of these product categories are covered in other BCC Research reports, such as HLC047E Disabled and Elderly Assistive Technologies and HLC016E Microelectronic Medical Implants: Products, Technologies and Opportunities.

The market for some types of bionic devices, such as artificial hearts and hearing implants, were already relatively well established in 2015 and 2016. Other kinds of bionic devices, such as powered bionic limbs, exoskeletons and eye implants are at earlier stages of commercialization, but appear poised for significant growth over the next decide. The geographical structure of the market is also changing, with the
medically advanced countries of North America, the EU and Japan losing some ground to the emerging markets of Asia and elsewhere.

STUDY GOALS AND OBJECTIVES
The goal of the report is to examine market opportunities for the bionics industry and the technologies that make possible the more advanced products that are rapidly coming into being.

Specific objectives of the report include analyzing:
- Major types of bionic device, both commercial and developmental.
- Major markets and market segmentation.
- Market drivers and constraints.
- Detailed market projections through 2026.
- Industry structure, competition and market shares.
- Factors that may influence the long-term market for bionic devices.

INTENDED AUDIENCE
The report has been written for the entire medical and healthcare interest community, but is tailored especially for readers with an interest in the marketing and management dimensions of bionic devices, such as:
- Manufacturers and distributors of bionic devices.
- Regulators and health insurers.
- Investors.
- The financial and analyst community.

SCOPE OF THE STUDY
This report covers all types of bionic devices as defined above, but focuses on the following:
- Exoskeletons.
- Limbs and appendages (e.g., hands, feet, fingers).
- Hearts.
- Ears.
- Eyes.

Certain other types of devices, which fit this report's definition of bionic, such as bionic penises, are excluded because they are experimental and the potential commercial market for them over the next 10 years is small or non-existent.

Neural implants are covered only to the extent that they form part of an electromechanical system such as a bionic arm, but are excluded if they are purely electronic/electrical in nature (e.g., spinal cord stimulators). Purely mechanical prosthetic devices such as hip implants and assistive devices that are not worn such as wheelchairs are also not covered.

The market projections do not include the cost of surgical procedures used to insert the devices, or rehabilitation or training of wearers in the use of their bionic device.

While some bionic devices are commercially available at present, the real market for bionics is long-term. The report therefore will focus mainly on identifying bionic technologies that are under development and the conditions that will determine which ones reach the market and the quantities that could potentially be sold. Given the long-term nature of the market, the report has a 10-year time frame (i.e., 2016 to 2026).

Since the market for bionic devices will continue to be focused, albeit to a diminishing degree, in the medically advanced countries, the report will present detailed market estimates for the following: the United States and Canada, and the European Union. The rest of the global market will be analyzed as a single unit.

METHODOLOGY AND INFORMATION SOURCES
The findings and conclusions of this report are based on information gathered from manufacturers and distributors of bionic devices, hospitals, doctors and other end users. Interview data were combined with information gathered through an extensive review of secondary sources such as trade publications, trade associations, company literature and online databases to produce the baseline market estimates contained in this report.

The base year for analysis and projection is 2015. At the time this report was written, in the early months of 2017, many data for 2016 were not yet available.

With 2015 as a baseline, market projections were developed for 2016 through 2026. These projections are based on a combination of a consensus among the primary contacts combined with our understanding of the key market drivers and their impact from a historical and an analytical perspective. A description of the analytical methodologies used accompanies the detailed market projections, below.

All dollar projections presented in this report are in 2015 constant dollars.

ANALYST'S CREDENTIALS
Read the full report: http://www.reportlinker.com/p04754986/Bionics-Technologies-and-Global-Markets.html

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