Dublin, June 19, 2023 (GLOBE NEWSWIRE) -- The "Medical Biomimetics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
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.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Medical Biomimetics Market
- 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.
- Hstar Technologies Corporation
Report Scope:
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
For more information about this report visit https://www.researchandmarkets.com/r/b15xde
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.
