Soaring Demand Set to Propel Bionics Market to $21.9 Billion by 2029

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What Is the Expected CAGR for the Bionics Market Through 2025?
In recent times, the bionics market has expanded at a significant pace. The market is projected to rise from $13.62 billion in 2024 to $15.01 billion in 2025, recording a compound annual growth rate (CAGR) of 10.3%. Factors that contributed to this substantial growth during the historical period include a higher occurrence of disabilities, advancements in healthcare facilities, escalating healthcare costs, a surge in the demand for organ donors, and an increasing number of chronic disease cases.

What's the Projected Size of the Global Bionics Market by 2029?
Anticipations predict a robust expansion of the bionics market over the forthcoming years. Its growth is estimated to reach a staggering $21.9 billion by 2029, escalating at a compound annual growth rate (CAGR) of 9.9%. The advancing growth during this forecast period can be credited to factors such as bespoke and individualized modifications, an intensifying emphasis on rehabilitation and enhancing patients' life quality, amplified public cognizance and acceptability, a surge in the aging populace, and elevation in geriatric demographics. The prediction period also forecasts significant trends including the incorporation of the internet of things, progression in artificial intelligence, the advent of wireless and miniaturized electronics, the creation of advanced haptic and sensory technologies, and energy accumulating technologies.

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Top Growth Drivers in the Bionics Industry: What's Accelerating the Market?
The growth of the bionics market is projected to be driven by the rising prevalence of physical disabilities. These disabilities hinder an individual's mobility, ability to carry out physical tasks, or sustain physical endurance. They can be due to conditions like arthritis, osteoporosis, or overall physical decline. Bionics boosts the life quality of people with physical disabilities by either replacing or enhancing their lost bodily functions, thus improving their mobility and promoting self-reliance. For illustration, a report by the UK Parliament's House of Commons Library, a government entity of the UK, in October 2024, noted a correlation between disability prevalence and age. In 2022/23, around 11% of UK children had a disability, in contrast to 23% of adults of working age and 45% of those beyond the State Pension age. Hence, the rising occurrence of physical disabilities is anticipated to fuel the bionics market's expansion.

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What Trends Will Shape the Bionics Market Through 2029 and Beyond?
Key players in the bionics market are advancing their technology offerings, such as automated insulin delivery systems like the bionic pancreas, to enhance the management of diabetes by emulating the functions of a healthy pancreas. The bionic pancreas automated insulin delivery system is a tool that autonomously regulates insulin delivery grounded on real-time glucose monitoring, aiming to replicate the natural functionality of the pancreas more closely. For example, in December 2023, Beta Bionics Inc., a biotech firm based in the US, unveiled the iLet bionic pancreas, a state-of-the-art automated insulin delivery system engineered to streamline diabetes management. This system synchronizes with continuous glucose monitors (CGMs) to gather real-time glucose data and adjust insulin delivery as needed. The system chiefly needs the patient's weight, removing the need for intricate computations like insulin-to-carb ratios or correction factors. The iLet Bionic Pancreas is equipped with a closed-loop functionality that independently handles insulin dosage, making it accessible for users and lessening the load on patients and healthcare professionals alike.

What Are the Main Segments in the Bionics Market?
The bionics market covered in this report is segmented -

1) By Types: Bionic Brain, Bionic Heart, Bionic Limbs, Bionic Vision, Exoskeleton, Other Types
2) By Fixation: Implantable Bionics, External Bionics
3) By Technology: Mechanical Bionics, Electronic Bionics
4) By Application: Healthcare, Defense

Subsegments:
1) By Bionic Brain: Neural Prosthetics, Brain-Computer Interfaces (Bcis), Deep Brain Stimulation Devices
2) By Bionic Heart: Artificial Heart, Ventricular Assist Devices (Vads), Heart Valve Prostheses
3) By Bionic Limbs: Prosthetic Arms, Prosthetic Legs, Bionic Hands And Fingers
4) By Bionic Vision: Retinal Implants, Visual Prosthetics, Bionic Eyewear
5) By Exoskeleton: Lower Body Exoskeletons, Full-Body Exoskeletons, Upper Body Exoskeletons
6) By Other Types: Bionic Ears, Bionic Skin, Bionic Organs

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Which Top Companies are Driving Growth in the Bionics Market?
Major companies operating in the bionics market are Boston Scientific Corporation, Zollner Elektronik AG, Sonova Holding AG, Ottobock SE & Co. KGaA, Cochlear Limited, Bioengineering Technology Inc., Össur hf, Hanger Inc., BionX Medical Technologies Inc., DarioHealth Corp., Cyberdyne Inc., Syncardia Systems LLC, AlterG Inc., Ekso Bionics Holdings Inc., MediTouch Ltd., ReWalk Robotics Ltd., Retina Implant AG, Human Engineering, Pixium Vision, Second Sight Medical Products Inc., Bionik Laboratories Corp., Neuroprosthetics Ltd., Sierra Bionics, Vincross Inc.

Which Regions Will Dominate the Bionics Market Through 2029?
North America was the largest region in the bionics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bionics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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