Medical Bionics Market Share, Size, Future Demand, and Emerging Trends

Bionics are highly advanced pieces of technology capable of integrating with different parts of the human body. Hence, the medical field, combined with these enhanced technologies, can do wonders. Due to falling from motorcycles, public transport mishaps including train crashes, and violence, people often need to undergo traumatic amputations. There are only a few cases where the re-attachment of the detached body part is possible. In many cases, a prosthetic implant of that specific body part is attached, to offer people the maximum use of the original body part.

 

Moreover, the expanding pool of geriatric people and associated organ failure will help the medical bionics market grow in the coming years. People in the age group of 65 and above will number 1.5 billion in 2050 compared to 727 million in 2020, says the UN. These people often suffer from eye problems and other functional and motor issues, which is making healthcare organizations inclined toward creating awareness about medical bionics. For instance, the Amputee Coalition of America has declared April as Limb-Loss Awareness Month, to increase awareness about limb loss prevention and coping with such an eventuality.

 

 

In the preceding years, North America held the largest market share due to the high expenditure on the healthcare sector, growing aging population, increasing number of hand and limb amputations, and economic growth. Furthermore, the APAC region is expected to showcase the fastest growth in the medical bionics market in the coming years. It is ascribed to the expanding pool of diabetic patients in the region, along with the growing geriatric population, surging chronic disease prevalence, and growing healthcare expenditure.

Therefore, the surging number of accidents and injuries leading to amputations and rising awareness about different implants are propelling the demand for medical bionics.