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Bionic Devices Market Trends

Report ID: GMI4609
Published Date: Nov 2023
Report Format: PDF

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Bionic Devices Market Trends

Technological advancements in the bionic devices industry have significantly transformed the landscape of managing various conditions in recent years. The introduction of advanced bionic devices and their integration into the treatment of patients with disabilities is poised to drive an accelerated product adoption.

Innovations in materials science, including the adoption of lightweight yet durable alloys, coupled with sophisticated myoelectric sensors, have propelled the development of prosthetic limbs that offer a more natural and intuitive user experience.
In addition, the introduction of wearable exoskeletons which include a combination of advanced sensors, actuators, and artificial intelligence algorithms allows for enhanced human strength and endurance, with applications ranging from rehabilitation to assisting individuals with mobility impairments in performing daily activities. Such advancements contribute to more effective treatment, as the device can dynamically respond to the changing needs of the patient.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

Bionic devices industry size was USD 5.3 billion in 2022 and is expected to cross USD 12.1 billion by 2032 due to the rising incidence of chronic conditions leading to amputation, the growing incidence of hearing loss, and the increasing advancements in product technology worldwide.

Bionic devices industry from the neural bionics segment recorded USD 3.5 billion in 2022 and is expected to register appreciable CAGR from 2023-2032 due to the ongoing innovations in neural interface technologies, brain-machine interfaces, and neurostimulation devices.

North America bionic devices industry size is expected to reach USD 4.7 billion by 2032 due to the presence of key industry players, the increasing incidence of hearing loss, technological advancements, and the growing geriatric population in the region.

Medtronic plc, Sonova, Cochlear Ltd, MED-EL Medical Electronics, Ossur corporate, Ekso Bionics, ReWalk Robotics, and Scheck & Siress are some of the major bionic devices companies worldwide.