Medical Biomimetics Market worth over $53bn by 2027

Medical Biomimetics Market size is set to surpass USD 53 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Growing geriatric population base and increasing advancement in nanotechnology are major factors driving the market growth. Geriatric population is susceptible to suffer from orthopedic, cardiovascular, and neurological disorders. According to the WHO, in 2019, around 17.9 million people died from cardiovascular diseases. Further, several vascular diseases lead to stenosis and reduced blood perfusion; nanotechnology possesses unique value for treatment of such vascular diseases. It can offer novel opportunities in cardiovascular tissue engineering. 
 

Increasing health problems coupled with growing research and development activities to develop innovative biomimetics will further contribute to the market expansion. Rising incidence of organ failure is leading to increase in adoption of biomimetic technology for regeneration of organs. According to the National Kidney Foundation, every year, around 37 million of the adult population in the U.S. suffer from chronic kidney diseases and around 3,500 kidneys are discarded. Thus, in order to prevent discard of such organs, the demand for biomimetics will boost in the coming years.
 

Growing prevalence of cardiovascular diseases will foster the demand for medical biomimetics

Rise in cardiovascular diseases (CVDs) will stimulate the demand for several cardiovascular medical biomimetics products. Factors such as lack of physical activities and consumption of unhealthy diet has increased the risk of CVDs. Further, with support of tissue regeneration and biomimetics, various advanced products are being developed to cure cardiac disorders at chronic phase. Such tissues, with the assistance of biomimetic technology, help in recovery of cardiac function.
 

Browse key industry insights spread across 130 pages with 187 market data tables & 11 figures & charts from the report, “Medical Biomimetics Market Size By Product (Cardiovascular, Orthopedic {Prostheses, Exoskeleton}, Ophthalmology, Dental), By Application (Plastic Surgery, Wound Healing, Tissue Engineering, Drug Delivery), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021– 2027” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/medical-biomimetics-market
 

Accurate drug delivery of nanocarriers through biomimetic devices will increase product acceptance

Drug delivery application segment is projected to progress at 7.6% growth rate through 2027. Advanced nanotechnology possesses potential to demonstrate single cells at high output and displays dynamic biomimetic behaviour. This allows development of personalized medicine. Nanoparticles show progressive functions including targeting cell or organ, imaging as well as drug delivery. Biomimetic nanoparticles act as a drug delivery system that offers improved therapeutic efficiency as it comprise fabricated and biological components.
 

Increased disease burden in Europe will accelerate the market progression

Europe market is estimated to attain a CAGR of over 6.2% by 2027. Rising burden of chronic diseases including orthopaedic diseases will offer a significant industry expansion in the coming years. Further, rapid usage of advanced technology, and growing research and development activities in the region will offer robust potential to the industry.
 

Prominent companies are adopting expansion and collaborative strategies to cater the growing market demand

Some of the prominent players operating in the market are 3B’s research Group, Applied Biomimetic A/S, Avinent, Swedish Biomimetics 3000 AB, BioTomo Pty., Ltd., BioHorizons. These leaders are adopting entry and expansion strategies in various geographies to broaden their market footprint.