Industry Background:
The term bio is related to life and nics are related to electronics. Bionics is a technology that can easily able to be integrated with numerous parts of the human body such as leg, hand, and others. Bionic limbs are constantly evolving and becoming more lifelike in their form and function. Demand for bionic limbs has increased, due to the increase in the number of the patient. For instance, in 2012, as per an article published by the National Limb Loss Information Center, there are more than 1.7 million people living with limb loss in the United States. Hence, the rising number of the patient regarding limb will contribute to the bionic limb market growth.This growth is primarily driven by Increased Demand for Joint Replacement Surgeries in both Developing and Developed Countries
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | M Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Medical Devices sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Abiomed Inc. (United States), Activelink (Philippines), Advanced Bionics Corporation (United States), AlterG, Inc. (United States), Axosuits (Romina), BAE Systems plc (United Kingdom), Bionx Medical Technologies Inc. (United States), B-Temia Inc. (Canada), Banatechnology (Turkey) and Bionik Laboratories (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
The global bionic limbs market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Regulatory Insights:
According to The National Center for Biotechnology Information, “The EU Regulation can apply to any prosthesis, howsoever developed. Devices which are manufactured and used within health institutions, however, are considered as being ‘put into service”.
Bionic Limbs Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increased Demand for Joint Replacement Surgeries in both Developing and Developed Countries
- Increasing Number of Geriatric Population and Rising Obese Population Worldwide
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Influencing Trends | - Technology Advancement regarding Bionic Limbs
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Restraints | - Stringent Rules and Regulation
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Road Blocks / Challenges | - Lack of Awareness regarding New Technology in Some Countries
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Gaps & Opportunities | - Rising Demand from Emerging Economies such as China, India, among others
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Bionic Limbs Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Bionic Limbs Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Bionic Limbs players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Bionic Limbs Study Sheds Light on
The Bionic Limbs Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Bionic Limbs industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Bionic Limbs industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.