United States Bionics Market to Grow with a Double Digit CAGR until 2026
Rising instances of organ transplant is driving the growth of United States Bionics Market, in the forecast period.
According to TechSci report on, “United States Bionics Market By Type (Orthopedic Bionics, Cardiac Bionics, Neural Bionics, Ear Bionics, Others) By Technology (Mechanical v/s Electronic) By Fixation (Internal v/s External) By Region, Competition Forecast & Opportunities, 2026”, United States bionics market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2021 to 2026. United States bionics market owes its growth to the factors like advancing medical industry in the country. United States owns the most developed and most advanced medical and healthcare facility. Moreover, the advancing technological aids support the bio-engineering aspect of the industry too. Bionics are the biologically inspired engineering that aids the applications of biological methods and systems found in nature to the study and design of engineering systems and modern technology. It is the science of making artificial systems that can function and has properties of living systems. The prototype used is that of a living organism, but holds lot more strength, and capacity than the living system. In simple terms, it is also referenced as a mimicry of the living systems using technology. Most popular bionic devices are pacemakers, cochlear implants, bionic eyes, Bionic nerve guides, robotic limbs, etc. United States bionics market is also inspired toward growth due to government regulations, technological updates, and the economic factors. Along with these factors, rising demand for artificial organs, rising geriatric population, increasing multiple organ failures, increasing numbers of patients suffering from chronic diseases and increasing focus of the government on the R&D funding are also supporting the growth of the United States bionics market in the upcoming five years.
Furthermore, major market players are actively supporting the research and development. Many research institutes are working on the devising the bionic devices that can aid in the mishaps and trauma accident cases.
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The United States bionics market is segmented by type, technology, fixation, competitional landscape, and regional distribution. Based on technology, the market is further divided into electronic and mechanical bionics. Mechanical bionics dominated the market segment and asserted its dominance on the account of rising incidences of organ failure and the low cost of mechanical bionics. Devices like mechanical heart calve, pacemakers are used for the treatment of various heart failures. Electronic bionics are expected to register fastest growth CAGR on the account of rising cases of prosthetics like artificial hands, arm, and legs. These prosthetics are battery and electronic systems that are myoelectric-controlled and can create nerve movement through sensors.
Based on type, the market is further bifurcated into orthopedic bionics, cardiac bionics, neural bionics, ear bionics, and others. Cardiac bionics are anticipated to assert its dominance over the market segment and hold the largest revenue shares of the market in the next five years due to rising instances of cardiac failures and demand of cardiac bionic devices like pacemakers. Rising obesity, and cholesterol increase problems are further substantiating the US bionics market. Due to advancing technologies and consistent research going on, neural bionics is anticipated to register the fastest growth in the CAGR in the next five years. Orthopedic bionics are also expected to register significant growth in the upcoming five years on the account of increasing traumatic accidents that lead to severed limbs and skull fractures.
A partial list of market player in the United States Bionics market includes, Medtronic USA, Inc., Zimmer Biomet Holdings, Inc., Edwards Lifesciences Corporation, Ekso Bionics Holdings Inc., Össur Americas, Inc., Advanced Bionics Corporation, BionX Medical Technologies, Inc. (Ottobock), among others. These market players hold larger shares of the market than the new market players. With the advancement of the technology, it is appropriate to say that the effective research and development of the technologically advanced medical devices would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide devices that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“The United States bionic market is segmented on the basis of fixation, into internal and external fixation. Internal fixation like pacemakers and artificial heart valve are rapidly increasing and the surge in their demand is due to the increasing heart failure cases in the country. Moreover, with advanced technology popularity of the robotics arms, and robotic legs are in demand due to increasing cases of accidents. Market players who are entering the market should focus on research and technology that provides with the advanced bionic implants, organs, and devices,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Bionics Market By Type (Orthopedic Bionics, Cardiac Bionics, Neural Bionics, Ear Bionics, Others) By Technology (Mechanical v/s Electronic) By Fixation (Internal v/s External) By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of United States bionics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States bionics market.
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