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Bionic Devices Market Share

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

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Bionic Devices Market Share

The bionic devices industry is oligopolistic in nature, with companies competing to offer superior bionic devices in this business space. Prominent players such as Medtronic plc, Boston Scientific Corporation, and Abbott hold a significant share in this market. These companies are diligently directing their efforts towards continuous type innovation to gain substantial market share.

Some of the eminent market participants operating in the bionic devices industry include:

Medtronic plc
Sonova
Cochlear Ltd
MED-EL Medical Electronics
Ossur corporate
Ekso Bionics
ReWalk Robotics
Scheck & Siress
Open Bionics
Abbott
Boston Scientific
Syncardia

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.