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Medical Biomimetics Market Future Challenges and Industry Growth Outlook by 2020-2025

Author : Ronak Bora | Published Date : 2020-09-15 

Medical Biomimetics Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Rising incidences of organ failure along with increasing elderly population will emerge as major growth drivers for medical biomimetics market over coming years. As per the U.S. Census Bureau's 2017 National Population Projections, approximately 78 million residents may be more than 65 years, while 76.7 million will be under 18 years of age in the U.S. by 2035, which is likely stimulate the demand for biomimetics products.

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Further growing adoption of unhealthy lifestyle, eating habits and lack of physical activity has increased the prevalence of cardiovascular diseases. As a result, demand for biomimetic cardiovascular products has significantly increased. Besides, wide applications of biomimetics in healthcare sector in the fields of dentistry, cardiovascular, orthopedics, and ophthalmology will be instrumental in the industrial growth.

Numerous research activities involving development of innovative and efficient biomimetic products along with advancements in tissue engineering, nanotechnology with the help of biomimetics technology will also contribute to industry expansion.

Elaborating on research activities in biomimetics, University of Toronto, in 2018, had developed a 3D handheld skin printer device which prints a “bio-ink” composed of collagen, skin cells and fibrin on the wounded skin. The fibrin present in the ink plays the role of a strong catalyst in healing the wounds by allowing the printed skin to adhere to the natural skin cells. This research represents an advancement in the field of skin reconstruction.

According to GMI report, medical biomimetics market is poised to reach USD 35 billion by 2025.

Owing to a substantial rise in the demand for orthopedic prosthesis and implants, orthopedic product segment acquired  a market share of 30% in 2018 and is anticipated to show similar growth  during the forecast period. Rising number of accidents and injuries have impelled the demand for prosthetic limbs. Additionally, technological developments pertaining to augment bone graft will positively influence the segmental growth.

Speaking of technological developments in this field, GreenBone, an Italian startup has introduced an innovative bone graft scaffold made from rattan wood for patients suffering from bone defects. Bone graft scaffold made from rattan wood enables bone regeneration as it has similar load bearing capacity as that of a natural bone. Moreover, it has an internal architecture which consists of channels for transporting xylem which resembles the blood vessels in a bone. This product helped the company receive approval of CE mark allowing them to enter the market with their innovative product offering.

Medical biomimetics industry across Saudi Arabia is expected to register a CAGR of 5.2% during the forecast timeframe owing to technological advancements, rising adoption of cosmetic surgeries among women, and growing awareness regarding healthy choices in the region. Further, growing incidences of coronary heart diseases along with unhealthy lifestyle including tobacco smoking and alcohol consumption will drive the demand for biomimetic products in the region.

Major industry players are focused on implementing strategies such as collaborating with research institutes and universities to promote the development of advanced biomimetic products. For instance, in 2018, University of Minnesota Technology Commercialization launched Vascudyne Inc., a start-up that focuses on developing of biologically engineered tissue with regenerative capacity that can be useful in medical and therapeutic applications.

Some of the prominent players in the industry are Abbott, Avinent, Veryan Medical, Biomimetics Technologies, Applied Biomimetic, and BioHorizons IPH 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/medical-biomimetics-market

Partial Chapter of the Table of Content 

Chapter 4.  Medical Biomimetics Market, By Product

4.1. Key segment trends

4.2. Cardiovascular

4.2.1.  Market size, by region, 2014-2025 (USD Million)

4.3. Orthopedic

4.3.1.  Market size, by region, 2014-2025 (USD Million)

4.3.2.  Prostheses Market size, by region, 2014-2025 (USD Million)

4.3.3.  Exoskeleton Market size, by region, 2014-2025 (USD Million)

4.4. Ophthalmology

4.4.1.  Market size, by region, 2014-2025 (USD Million)

4.5. Dental

4.5.1.  Market size, by region, 2014-2025 (USD Million)

4.6. Others

4.6.1.  Market size, by region, 2014-2025 (USD Million)

Chapter 5.  Medical Biomimetics Market, By Application

5.1. Key segment trends

5.2. Plastic surgery

5.2.1.  Market size, by region, 2014-2025 (USD Million)

5.3. Wound healing

5.3.1.  Market size, by region, 2014-2025 (USD Million)

5.4. Tissue engineering

5.4.1.  Market size, by region, 2014-2025 (USD Million)

5.5. Drug delivery

5.5.1.  Market size, by region, 2014-2025 (USD Million)

5.6. Others

5.6.1.  Market size, by region, 2014-2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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