Dublin, March 29, 2023 (GLOBE NEWSWIRE) -- The "Medical Biomimetics Market By Disease Type, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global medical biomimetics market size was valued at $35.4 billion in 2021 and is projected to reach $68.9 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.
Major factors driving the growth of the medical biomimetics market include a rise in technological advancement in drug delivery, such as the use of nanocapsules/nanospheres, nanocrystals, liposomes, nano lipid carriers/solid lipid nanoparticles, nanosponges and dendrimers based on biomimetics for targeted delivery of the drug.
For instance, according to the review article "Cell membrane-coated nanoparticles: a novel multifunctional biomimetic drug delivery system" published in November 2022, the biological roles of cell membrane surface proteins endow nanoparticles with several functions, such as immune escape, long circulation time, and targeted delivery; therefore, these proteins are being extensively used in the fields of drug delivery. According to the same source, in the biomimetic approach, the erythrocytes membrane is used to coat polymeric nanoparticles in order to reduce macrophage uptake and systemic clearance.
Furthermore, the surge in the prevalence of cardiac diseases propels the demand for bioengineering technology to grow human replacement tissues as next-generation implants such as LifeMatrix tissues drive the growth of the medical biomimetics market. For instance, according to the Centers for Disease Control and Prevention (CDC) 2022, about 697,000 people in the U.S. died from heart disease in 2020. According to the same source, every year, about 805,000 people in the U.S. have a heart attack. Out of these 805,000 people, 605,000 people have a first heart attack and 200,000 happen to people who have already had a heart attack.
In addition, the rise in the trend of biomimetics products, an increase in awareness regarding biomimetics product, an increase in the number of clinical trials of biomimetics product, rise in the discovery & development of effective medical biomimetics product, drives the growth of the medical biomimetics market.
For instance, in July 2020, CorNeat KPro, the first synthetic cornea that bio-integrated with the eye wall, received approval to begin a clinical trial at Beilinson Hospital, Israel. The CorNeat KPro implant is designed to replace deformed, scarred, or opacified corneas and is expected to fully rehabilitate the vision of corneally blind patients immediately following implantation. The device's lens, which provides optical quality equivalent to a perfect cornea, integrates with resident ocular tissue using a unique and patented synthetic non-degradable nano-fabric skirt placed under the conjunctiva.
However, the high costs of medical biomimetics, health risks, and complications associated with medical biomimetics are expected to hamper the medical biomimetics market growth. On the contrary, unmet medical demands in developing countries and lucrative opportunities in emerging economies are expected to create immense opportunities for medical biomimetics product manufacturers in the future.
Furthermore, the healthcare business is projected to witness growth, owing to a rise in the technological advancements in orthopedic products, a rise in research in the bioengineering field, and the development of advanced medical biomimetics boosting the growth of the medical biomimetics market.
Key Market Segments
By Disease Type
- Ophthalmology
- Cardiovascular
- Orthopedic
- Dental
By Application
- Wound Healing
- Tissue Engineering
- Drug Delivery
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- AVINENT Science and Technology
- CorNeat Vision
- Osteopore International Pte Ltd
- Curasan, inc.
- Biohorizons
- Otsuka Medical Devices Co., Ltd.
- Swedish Biomimetics 3000 ApS
- Keystone Dental Group
- Blatchford Limited
- Zimmer Biomet Holding Inc.
Key Market Insights
By product, the dental segment was the highest revenue contributor to the market in 2021 and is estimated to reach $ 25,126.6 million by 2031. The same segment is expected to be the fastest-growing segment with a CAGR of 7.6% during the forecast period.
By application, the wound healing segment was the highest revenue contributor to the market in 2021. The tissue engineering segment is expected to witness the highest CAGR of 7.9%.
Based on region, the North American segment was the highest revenue contributor to the market in 2021. However, the Asia-Pacific segment is expected to be the fastest-growing segment with a CAGR of 8.5% during the forecast period.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 221 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $35.4 billion |
| Forecasted Market Value (USD) by 2031 | $68.9 billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter's five forces analysis
3.3.1. Low bargaining power of suppliers
3.3.2. High bargaining power of buyers
3.3.3. Low threat of substitutes
3.3.4. Low threat of new entrants
3.3.5. Moderate intensity of rivalry
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Rise in prevalence and incidence of chronic wounds
3.4.1.2. Rise in prevalence of dental disease
3.4.1.3. Rise in prevalence of heart disease
3.4.2. Restraints
3.4.2.1. Strict regulatory rules and high per-unit cost of production
3.4.3. Opportunities
3.4.3.1. Increase in R&D and product launch
3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: MEDICAL BIOMIMETICS MARKET, BY DISEASE TYPE
CHAPTER 5: MEDICAL BIOMIMETICS MARKET, BY APPLICATION
CHAPTER 6: MEDICAL BIOMIMETICS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
Companies Mentioned
- AVINENT Science and Technology
- CorNeat Vision
- Osteopore International Pte Ltd
- Curasan, inc.
- Biohorizons
- Otsuka Medical Devices Co., Ltd.
- Swedish Biomimetics 3000 ApS
- Keystone Dental Group
- Blatchford Limited
- Zimmer Biomet Holding Inc.
For more information about this report visit https://www.researchandmarkets.com/r/p2330l
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
