Medical Biomimetics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027

The global medical biomimetics market is anticipated to observe impressive growth during the forecast period 2023-2027. The major factors include growing occurrences of chronic diseases, increasing applications of medical biomimetics, and extensive development in technology that are curbing the growth of the market. Biomimetics is an interdisciplinary field that comprises biology, engineering, and chemistry. It is used for the development of biocompatible material, which allows healthcare experts to monitor and treat chronic diseases. It is used for regenerative medicine, tissue engineering, and drug delivery. The other factors supporting the market’s growth are, rise in R&D activities, increasing favorable government funding, growing incidences of organ failure, the rising healthcare expenditure in developed and developing economies, rise in aging population base, growing number of mergers and strategic acquisitions, growing life expectancy, and rise in demand for prosthesis and implants.

Increasing Prevalence of Chronic Diseases

The growing occurrences of chronic diseases, such as cardiovascular diseases, diabetes, and others, are bolstering the growth of the market globally. Owing to the sedentary lifestyle and unhealthy eating choices, people are suffering from these diseases, which propels the growth of the market. For instance, as per the Centers for Disease Control and Prevention (CDC), roughly every 40 seconds, an American die from a heart attack. It is estimated that 805,000 Americans have a heart attack every year, 605,000 of them for the first time. Geriatric populations are highly prone to diseases such as orthopedic diseases, cardiovascular diseases as well as neurological disorders. Thus, increasing the growth of the medical biomimetics market. According to the National Kidney Foundation, one in four women and one in five men aged between 65 to 74 years have chronic kidney disease across the globe.

Advancements in Biomimetic Technologies

Rapid advancements such as robotics, 3D printing technology, and others in the healthcare sector are surging the growth of the market. The increasing adoption of various innovations in areas of nanotechnology, tissue engineering, and others is expected to create numerous opportunities which curb the market growth. The adoption of nanotechnology can aid in the development of personalized medicine, organ regeneration, plastic surgery, and drug delivery. For instance, in the U.S., in 2020, Veryan Medical launched a novel BioMimics 3D vascular stent system. BioMimics is a system that aims for superb outcomes in clinical trials.

Increasing Applications of Biomimetics

The growing demand for biomimetics in the medical sector is fueling the growth of the market. This is attributed to the increasing application in various fields such as dentistry, cardiology, orthopedics, ophthalmology, and others. Biomimetics is used for the treatment of various diseases, such as Alzheimer, prosthetics, organ transplants, and others. Moreover, an upsurge in the application of medical biomimetics in noninvasive procedures, including ECGs, CT scans, and ultrasound, in the healthcare industry is anticipated to curb the growth in the market. For instance, as per the U.S. government's data, in 2017, approximately 34,770 transplants were conducted in the nation.

Market Segmentation

The global medical biomimetics market is segmented into type, application, and company. Based on type, the market is divided into cardiovascular, orthopedic, ophthalmology, dental, and others. Based on application, the market is divided into wound healing, tissue engineering, drug delivery, plastic surgery, and others. In terms of country, the United States is expected to be a lucrative market in the forecast period due to rise in the adoption rate of novel technology in the country.

Market Players

Wright Medical Group N.V., Abbott Laboratories, Inc., Blatchford Group (Chas. A. Blatchford & Sons Ltd), BioHorizons IPH, Inc., Biomimetics Technology Inc, SynTouch Inc., Vandstrom, Inc., Gelesis, Inc., BioTomo Pty. Ltd., and Hstar Technologies Corporation are some of the leading companies operating in the market.

Report Scope:

In this report, global medical biomimetics market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Medical Biomimetics Market, By Type:

• Cardiovascular
• Orthopedic
• Ophthalmology
• Dental
• Others

Medical Biomimetics Market, By Application

• Wound Healing
• Tissue Engineering
• Drug Delivery
• Plastic Surgery
• Others

Medical Biomimetics Market, By Region:

• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Europe & CIS
• Germany
• France
• United Kingdom
• Spain
• Italy
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Egypt
• Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Medical Biomimetics Market

Available Customizations:

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