PUBLISHER: Allied Market Research | PRODUCT CODE: 1239485
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239485
The global medical biomimetics market size was valued at $35.4 billion in 2021 and is projected to reach $68.9 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031. Biomimetics is a cutting-edge design idea that uses aspects and processes found in nature to solve challenging human problems. The term "biomimetics" consists of the two ancient Greek words i.e., "bios" and "mimesis," which translate to "life" and "imitate," respectively. Medical biomimetics is a device that draws inspiration from nature to solve complex human problems related to health. Biomimetics is used for wound healing, tissue engineering, and drug delivery. Biomimetic materials can be used to treat and preserve the tooth, cardiac regeneration, enhance natural abilities & restore the function of limbs.
Major factors driving the growth of the medical biomimetics market include a rise in technological advancement in drug delivery, such as the use of nanocapsules/nanospheres, nanocrystals, liposomes, nano lipid carriers/solid lipid nanoparticles, nanosponges and dendrimers based on biomimetics for targeted delivery of the drug. For instance, according to the review article "Cell membrane-coated nanoparticles: a novel multifunctional biomimetic drug delivery system" published in November 2022, the biological roles of cell membrane surface proteins endow nanoparticles with several functions, such as immune escape, long circulation time, and targeted delivery; therefore, these proteins are being extensively used in the fields of drug delivery. According to the same source, in the biomimetic approach, the erythrocytes membrane is used to coat polymeric nanoparticles in order to reduce macrophage uptake and systemic clearance.
Furthermore, the surge in the prevalence of cardiac diseases propels the demand for bioengineering technology to grow human replacement tissues as next-generation implants such as LifeMatrix tissues drive the growth of the medical biomimetics market. For instance, according to the Centers for Disease Control and Prevention (CDC) 2022, about 697,000 people in the U.S. died from heart disease in 2020. According to the same source, every year, about 805,000 people in the U.S. have a heart attack. Out of these 805,000 people, 605,000 people have a first heart attack and 200,000 happen to people who have already had a heart attack.
In addition, the rise in the trend of biomimetics products, an increase in awareness regarding biomimetics product, an increase in the number of clinical trials of biomimetics product, rise in the discovery & development of effective medical biomimetics product, drives the growth of the medical biomimetics market. For instance, in July 2020, CorNeat KPro, the first synthetic cornea that bio-integrated with the eye wall, received approval to begin a clinical trial at Beilinson Hospital, Israel. The CorNeat KPro implant is designed to replace deformed, scarred, or opacified corneas and is expected to fully rehabilitate the vision of corneally blind patients immediately following implantation. The device's lens, which provides optical quality equivalent to a perfect cornea, integrates with resident ocular tissue using a unique and patented synthetic non-degradable nano-fabric skirt placed under the conjunctiva.
However, the high costs of medical biomimetics, health risks, and complications associated with medical biomimetics are expected to hamper the medical biomimetics market growth. On the contrary, unmet medical demands in developing countries and lucrative opportunities in emerging economies are expected to create immense opportunities for medical biomimetics product manufacturers in the future.
Furthermore, the healthcare business is projected to witness growth, owing to a rise in the technological advancements in orthopedic products, a rise in research in the bioengineering field, and the development of advanced medical biomimetics boosting the growth of the medical biomimetics market.
The medical biomimetics market is segmented on the basis of disease type, application, and region. On the basis of disease type, the market is classified into cardiovascular, orthopedic, ophthalmology, dental, and others. On the basis of application, the market is classified into wound healing, tissue engineering, drug delivery, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, Australia, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major players profiled in the report are: AVINENT Science and Technology, BioHorizons, Blatchford Limited, CorNeat Vision, Curasan, Inc., Keystone Dental Group, Osteopore International Pte Ltd, Otsuka Medical Devices group (Veryan Medical Limited), Swedish Biomimetics 3000 ApS, and Zimmer Biomet.