The medical biomimetics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Medical Biomimetics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Medical Biomimetics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Medical Biomimetics Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the medical biomimetics market are focused on developing innovative products with advanced technologies, such as suture anchor system to increase their profitability in market. A suture anchor system is a medical device used in orthopedic and sports medicine procedures for securing soft tissues, such as tendons or ligaments, to bone. Suture anchor systems strive to replicate and improve upon the natural attachment of soft tissues to bone, offering a functional and biomechanically optimized solution mirroring physiological tissue connection in the human body. For instance, in December 2022, Stryker Corporation, a US-based multinational medical technologies company, launches Citrefix, a disposable suture anchor system, incorporates a resorbable biomimetic anchor body using Citregen, an elastomeric material crafted from a citrate polymer, specifically engineered to emulate bone chemistry. This design allows for controlled resorption without inducing chronic inflammation. It is a disposable suture anchor system that is designed to help grafted tissue heal and healthy bone grow when used in orthopedic surgical applications.
The medical biomimetics market covered in this report is segmented –
1) By Type: Cardiovascular, Orthopedic, Ophthalmology, Dental, Other Types
2) By Application: Wound Healing, Tissue Engineering, Drug Delivery, Other Applications
3) By End User: Hospitals, Specialty Clinics, Other End Users
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Medical Biomimetics Market Report Structure
3. Medical Biomimetics Market Trends And Strategies
4. Medical Biomimetics Market – Macro Economic Scenario
5. Medical Biomimetics Market Size And Growth
…..
27. Medical Biomimetics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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