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Reasons for Stupendous Growth of Global Bionics Market – A Report by Absolute Markets Insights

Published On 09 Dec 2021 08:10 AM


In terms of revenue, the global bionics market was valued at US$ 36,762.98 Mn in 2020 growing at a CAGR of 9.98% over the forecast period (2021 – 2029), owing to rising demand for biologically engineered prosthetic applications, coupled with the growth in awareness regarding bionics amongst individuals.

COVID-19 Pandemic Impact

The COVID-19 pandemic has adversely affected the global supply chain, which in turn has severely impaired the manufacturing sector. The bionics market relies heavily on the supply chain, and the market saw a decline in production during the early stages of the pandemic due to various import-export restrictions imposed by government bodies. However, the pandemic saw the rise of various companies that have ventured into the bionics sector, especially to offer bionic suits for various industries to increase the safety of employees, and reduce the cases of workplace fatalities. Hence, the pandemic has provided opportunities for companies to invest more into research and development, and has also enabled advanced monitoring of bionics systems through remote monitoring.

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Adults Accounted for the Highest Market Share in 2020

Absolute Markets Insights report that the adults demography segment accounted for the highest revenue share in the global bionics market in 2020. The higher revenue share can be attributed to the higher instances of fatalities amongst adults, as compared to children. Furthermore, the self healing potential of individuals reduces as they get older, which in turn is rising the demand of bionic systems to support them in their daily activities. Studies show that around 13.5% of the adults in Europe suffered from spinal trauma between the years 1988 and 2009, and around 10% of the adults had spinal fractures or dislocations. Bionic systems that can support individuals recover from injuries are on the rise, and this is a major reason for the higher share of adults in the global bionics market in 2020.

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Asia Pacific Region to Show the Highest Growth Rate during the Forecast Years (2021-2029)

Based on Absolute Markets Insights estimates, Asia Pacific region is expected to showcase the highest growth rate during the forecast years in the global bionics market. The region is seeing a rise in investment in bionics in various countries, especially India, China and Japan, amongst others, and individuals are also becoming interested in investing in bionics systems due to the growth in income in the Asia Pacific region. Also, the manufacturing of bionic suits in the Asia Pacific region has resulted in the decline of prices of these suits, which in turn makes it more accessible to the consumers and businesses in the Asia Pacific region. Government initiatives to promote bionic systems, especially in the field of military and defence, will help in the growth of the Asia Pacific bionics market in the coming years. China, for instance, had unveiled a bionic machine shark robotic system in Beijing to carry out maritime surveillance. Furthermore, Russia and China have also reached an agreement to create super soldiers that wield bionic systems in order to increase the weight carrying capacity and agility of soldiers. These factors will help the Asia Pacific region emerge as a hotbed for investors in the coming years, which in turn positively benefits the revenue growth in the Asia Pacific bionics market.

Some of key players operating in the global bionics market are Advanced Bionics AG, Bionic Prosthetics & Orthotics Group LLC., Bionic Yantra, BIONIK , CYBERDYNE INC., Ekso Bionics, MARSI BIONICS, S.L., Mobius Bionics, Open Bionics, Össur, ReWalk Robotics, Rex, Bionics Ltd., Sarcos Technology and Robotics Corporation, suitX, Xilloc Medical Int B.V., amongst others.

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Global Bionics Market

By Offerings

  • Devices
  • Services

By Application

  • Shoulders
  • Back/Spine
  • Jaw/Mouth
  • Legs and Knee
  • Eyes
  • Ears
  • Hands
  • Others  

By Type

  • Wearable
  • Non-Wearable

By Demography

  • Kids
  • Adults

By End User



  • Solar installation
  • Utilities and Telecommunications
  • Logistics and fulfilment
  • Arborists
  • Automotive Mechanics
  • Drywall Installation
  • Film equipment operation
  • Food processing
  • Shipbuilding
  • Ceramics
  • HVAC Installation and repair
  • Firefighting
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Press Release Provided By: Absolute Markets Insights