Overview and Scope
Medical biomimetics refers to the development and application of innovative technologies that replicate and enhance natural physiological processes, aiming to create functional and biomechanically optimized solutions in the field of healthcare. Medical biomimetics plays a crucial role in advancing the field of artificial organs and tissues. It is extensively employed in the design of drug delivery systems that emulate biological processes, improving the precision and efficiency of targeted medication delivery.
Sizing and Forecast
The medical biomimetics market size has grown strongly in recent years. It will grow from $33.8 billion in 2023 to $36.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to increased biomimetic materials, increased research funding, aging population, rising chronic diseases.
The medical biomimetics market size is expected to see steady growth in the next few years. It will grow to $47.69 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to increasing demand for organ transplants, growing awareness of biomimetics applications, rising healthcare expenditure, expanding biotechnology sector, advancements in tissue engineering. Major trends in the forecast period include Bio-inspired prosthetics, biomimetic sensors, synthetic biology applications, smart drug delivery systems, biologically inspired robotics, Personalized medicine, 3D printing technologies, artificial intelligence in diagnostics, nanotechnology applications, regenerative medicine.
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Segmentation & Regional Insights
The medical biomimetics market covered in this report is segmented –
1) By Type: Cardiovascular, Orthopedic, Ophthalmology, Dental, Other Types2) By Application: Wound Healing, Tissue Engineering, Drug Delivery, Other Applications3) By End User: Hospitals, Specialty Clinics, Other End Users
North America was the largest region in the medical biomimetics market in 2023. The regions covered in the medical biomimetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing rates of obesity and heart disease are expected to propel the growth of the medical biomimetics market going forward. Obesity is a medical condition where excess body fat has accumulated to an unhealthy level, while heart disease refers to a range of conditions that affect the heart and blood vessels. Biomimetics aids in the development of assistive devices such as orthotics and prosthetics, which can help individuals with diabetes or obesity manage their conditions. For instance, in May 2022, according to the Centers for Disease Control and Prevention, a US-based government agency, severe obesity in the US increased from 4.7% to 9.2% in 2021, and adults aged 20 to 39 years had a prevalence of obesity of 39.8%, while those aged 40 to 59 years had a prevalence of 44.3%. Furthermore, in March 2022, according to a report published by the Office for National Statistics, a UK-based government department, the number of deaths from heart disease increased from 19,440 in 2020 to 20,061 in 2021. Therefore, increasing rates of obesity and heart disease are driving the growth of the medical biomimetics market.
Key Industry Players
Major companies operating in the medical biomimetics market are BASF SE, Bayer Aktiengesellschaft, Abbott Laboratories, Stryker Corporation, Zimmer Biomet Holdings Inc., Otsuka Medical Device Company Ltd., LivaNova PLC, Össur hf., Forschungszentrum Jülich GmbH, Biohorizons Implant Systems Inc., Inventia Plc, Blatchford Limited, Keystone Dental Corporation, Xtant Medical Holdings Inc., AVINENT Science and Technology, SynTouch Inc., Curasan Inc., CorNeat Vision Inc., Hstar Technologies Co. Ltd., Veryan Medical Ltd., Swedish Biomimetics 3000 ApS, Osteopore International Pte Ltd., KitoTech Medical Ltd., Vandstrom Inc.
The medical biomimetics market report table of contents includes:
1. Executive Summary2. Medical Biomimetics Market Characteristics3. Medical Biomimetics Market Trends And Strategies4. Medical Biomimetics Market - Macro Economic Scenario5. Global Medical Biomimetics Market Size and Growth...32. Global Medical Biomimetics Market Competitive Benchmarking33. Global Medical Biomimetics Market Competitive Dashboard34. Key Mergers And Acquisitions In The Medical Biomimetics Market35. Medical Biomimetics Market Future Outlook and Potential Analysis36. Appendix
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