Global Medical Biomimetics Market: Overview
Biomimetics is an interdisciplinary field that comprises principles from chemistry, engineering, and biology. The principles are applied to the synthesis of materials, machines, or synthetic systems that consist of functions or operations that mimic biological processes. Synthetic or natural materials that show interaction with any part of a biological system are known as biomaterials. Biomimetic designs are used in tissue engineering, regenerative medicine, and drug delivery.
More particularly, medical biomimetics is a creative form of technology that uses or substantially mimics nature in a bid to improve the lives of humans. Some examples of medical biomimetics are shark’s skin structure-motivated invention of swimsuits with features such as fluid-drag reduction, airplane wings modelled on the wings of birds, and turban shells inspired robust building structures. The field of medical biomimetics offers many practical applications. Over the past few years, the prospects of use of medical biomimetics in making surgical instruments have increased. These biomimetically inspired surgical instruments are provided with the functionalities of basic functions performed by the mouth, hands, or feet, such as cutting, sucking, stinging, and gripping.
Global Medical Biomimetics Market: Key Trends
The medical biomimetics market is estimated to expand at a rapid pace in the coming years. An increase in the geriatric population, rise in rates of organ failure, increase in the adoption of biomimetic technology for organ regeneration, rise in tissue engineering applications, increase in research and development activities, and advancements in nanotechnology are anticipated to boost the market. Moreover, a rise in the application of medical biomimetics in noninvasive techniques, including CT scans, ECGs, and ultrasound, in the field of health care and rise in demand for biomimetics for various medical applications are projected to drive the medical biomimetics market. However, stringent regulations, and high per unit production cost related with low volume of sales are anticipated to hinder the growth of the medical biomimetics market.
Global Medical Biomimetics Market: Segmentation
The medical biomimetics market can be segmented based on product, application, and region. In terms of product, the medical biomimetics market can be segmented into cardiovascular, ophthalmology, dental, and orthopedic. The orthopedic segment can be further sub-segmented into prostheses and exoskeleton. The cardiovascular segment is projected to dominate the medical biomimetics market, due to a rise in the incidence of cardiovascular diseases. According to the World Health Organization (WHO), cardiovascular diseases are a leading cause of death globally. Annually, a large number of people die from cardiovascular diseases than from any other cause. Based on application, the medical biomimetics market can be segmented into wound healing, plastic surgery, drug delivery, and tissue engineering. The drug delivery segment is anticipated to lead the market, due to advancements in nanotechnology, which enable accurate and efficient nanocarrier drug delivery via biomimetic devices.
Global Medical Biomimetics Market: Regional Analysis
In terms of region, the medical biomimetics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the medical biomimetics market, due to factors such as rise in the adoption rate of novel technology, increase in the geriatric population, rise in research and development activities associated with medical biomimetics, and prominent presence of key players. The market in Asia Pacific is anticipated to expand at a high growth rate during the forecast period due to factors such as increase in initiatives undertaken by the government in the field of health care, increase in the patient population, expansion in the medical tourism industry, and a booming biotechnology industry.
Global Medical Biomimetics Market: Competitive Landscape
Key players operating in the medical biomimetics market include BioHorizons IPH, Inc., Avinent, Forschungszentrum Jülich, Biomimetics Technology Inc TM, SynTouch Inc., Wright Medical Group N.V., Veryan Medical, Applied Biomimetic, Blatchford Group (Chas. A. Blatchford & Sons Ltd), and Abbott. For gaining a competitive advantage in the medical biomimetics market, key players are actively involved in different growth strategies such as partnerships, collaborations, agreements, and new product development.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.