Medical Biomimetics Market to be dominated by Growing Occurrences of Chronic Diseases and Extensive Technological Advancements through 2027
Growing occurrences of
chronic diseases and increasing applications to drive the medical biomimetics
market in the forecast period, 2023-2027.
According to TechSci Research report, “Medical
Biomimetics Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2017-2027”, the global medical biomimetics market is
anticipated to grow at a significant rate in the forecast period, 2023-2027. The
growing applications of medical biomimetics, increasing prevalence of chronic
diseases, and extensive research and development are the primary factors
driving the demand for the global medical biomimetics market. The rise in organ
failure rates, growing technological advancements, surge in the number of
patients, rising healthcare expenditure, growing geriatric base, and rising
investment for research and technological development are expected to influence
the market demand. Also, the adoption of expansion strategies such as
partnerships, collaborations, and product launches undertaken by the market
players are also a key factor for increasing the growth of the medical
biomimetics market, globally.
However, the high cost associated with medical
biomimetics devices, stringent clinical and regulatory requirements may hamper
the growth of the global medical biomimetics market.
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data Figures spread through 110 Pages and an in-depth TOC on "Medical Biomimetics Market"
The global medical
biomimetics market is segmented into type, application, and company.
Based on type, the market is
divided into cardiovascular, orthopedic, ophthalmology, dental, and others. The
cardiovascular segment is expected to hold the largest market share. This is
attributed to the rise in the incidence of cardiovascular diseases, technological
advancements and increasing R&D activities. As per Centers for Disease
Control and Prevention, in the United States, one person dies every 34 seconds
from cardiovascular disease.
Based on application, the
market is divided into wound healing, tissue engineering, drug delivery,
plastic surgery, and others. The
wound healing segment is anticipated to grow during the forecast period. This
is attributed to the growing healthcare infrastructure, vast population pool,
and increasing healthcare spending.
Major operating companies
operating in global medical biomimetics market are:
- 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
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“North America region dominates the market in 2021 and is expected to maintain
its dominance in the coming years due to increasing prevalence of chronic diseases
and rise in the adoption rate of novel technology. The surge in research and
development activities, well-established research infrastructure, strong
presence of prominent players, rise in medical tourism and growing government
initiatives in the healthcare sector in the region are another key factor. Also,
increasing adoption of expansion strategies such as mergers, collaborations, acquisitions,
and new product development in the region are expected to propel the global medical
biomimetics market growth till 2027” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Medical Biomimetics Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented
By Type (Cardiovascular, Orthopedic, Ophthalmology, Dental, Others), By
Application (Wound Healing, Tissue Engineering, Drug Delivery, Plastic Surgery,
Others), By company and By Region”, has evaluated the future growth
potential of global medical biomimetics market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global medical biomimetics market.
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