Medical Biomimetics Market size was USD 21.4 billion in 2015, with 5.5% CAGR estimation from 2016 to 2024; as per a new research report by Global Market Insights, Inc.
Medical biomimetics is widely gaining popularity as the technology of the future, with increased support in form of funding and collaborations. Various players in the market are collaborating with scientists and designing laboratories to explore novel technologies.
The medical biomimetics industry is also witnessing favorable funding scenario in response to the rising need for research and development of biomimetic technologies. There are government funded research centres that facilitate research in the field of biomimetics. For instance, Biomembrane Plasticity Research Center and BioMimetic Robot Research Center are among those.
Apart from this, the National Institutes of Health (NIH) and National Cancer Institute (NCI) provide funding opportunities to support the development of biomimetic tissue-engineered technologies for the purpose of cancer research.
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The dominant regional market over the forecast period was North America, followed by Europe with the trend projected to continue over the forecast period due to the rapid adoption of medical biomimetic products, and huge demand for organ transplants such as liver transplant.
The countries of China, India, Brazil and Mexico offer good growth opportunities due to increased capacity for healthcare expenditure, rapidly developing medical infrastructure, and huge patient base. In addition, large geriatric population in Japan is should catapult demand for cardiovascular and orthopedic biomimetic products.
Various players operating in the medical biomimetics market share include Avinent, BioHorizons IPH, Inc., Biomimetics Technologies, Inc., Forschungszentrum Jülich GmbH, Applied Biomimetic A/S, Hstar Technologies Corporation, among others.
Browse key industry insights spread across 110 pages with 295 market data tables & 7 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) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Russia, Poland, China, India, Japan, Malaysia, Thailand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key insights from the report include:
Last updated on: 26/09/2016
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