The biomimetics concept surfaced in the 1950s and the term ‘bionics was introduced in August 1958 in the US. Almost three decades later, the US-based Bionics Institute successfully translated medical device concepts into clinical reality. Bionics is the study of mechanical systems that function like living organisms or parts of living organisms. It is the science of constructing artificial systems that have some of the characteristics of living systems. The global bionics market size is expected to reach US$10.58 billion by 2029. Factors that are responsible for the growth of the market include increased incidence of disabilities and organ failures, technological advancements, and a high incidence of road accidents leading to amputations.
The WHO says bionics can cater to the needs of those in need of organ transplantations and replacements. It can replicate the function of damaged organs. The replication is almost the same. This level of scarcity of organs has turned into a boon for artificial organs and the bionics industry. Based on product, the market is segmented into auditory bionics/cochlear implants, heart transplants, and neural bionics. Heart bionics accounts for the largest share in this market, primarily due to a large global population with heart diseases. The bionic ear market is projected to reach US$4 billion by 2030. The global Artificial Organs and Bionics Market is expected to reach US$29.84 billion mark in 2024. The global bionic prosthetics market is projected to reach US$2.8 billion by 2030.
A key player in the bionics market is the Tunisia-based Bionic Soul, a company focused on the development and manufacturing of bionic leg prostheses. Its main offering is “affordable and customized” bionic prostheses for amputees, providing a less expensive and high-quality alternative to traditional prostheses. Founded in 2020 and based in Sousse, Bionic Souls says it is working to develop and manufacture bionic leg prostheses.
It says: “Our model is patented and combines the mechanical performance of conventional leg prostheses with the comfort and intelligence of bionic prostheses. Our solution provides greater stability through machine learning algorithms designed to adapt to different positions and avoid falls.”
Source: Bionic Soul