Bionics Market

As per the new market report published by Transparency Market Research “Bionics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021,” global bionics market was valued at USD 7.96 billion in 2014, growing at a CAGR of 13.2% from 2015 to 2021 to account for USD 20.49 billion in 2021.

The global bionics market is growing primarily due to the increase in the number of accidents, which is leading to paralysis or amputation of body parts. In addition, increasing cases of organ failures among the aging population is driving the growth of this market. Moreover, the concept of bionics is also being applied in other fields such as defense, in order to build exoskeletons, which can be worn by the soldiers. These exoskeleton suits or bionic suits help them to carry heavy loads and also improve their mobility in the battle field. The bionics market can be segmented into four types into: by types, by application, by technology and by regions.

Browse the full Bionics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021 report at http://www.transparencymarketresearch.com/bionics-market.html

By types, the bionic limbs held the largest market share of 28% which accounted to 2.23 billion in 2014. The bionic limbs market is expected to dominate the market during the forecast period. Their dominance is due to the rising cases of accidents, which are leading paralysis or amputation of limbs. In addition, the bionic limbs are becoming technically advance and now have the ability to be controlled through signals sent by the brain. These factors are driving the growth of bionic limbs.

By application, the healthcare services is the major segment in the global bionics market. The healthcare sector recorded revenue of USD 5.97 billion in 2014. The reason behind the growth is the increasing technological advancement in this field, which is making the bionics smarter and efficient. However, the defense...