Medical Biomimetics Market
Number of pages: 100 | Report Format: PDF | Published date: June 15, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 31.11 billion |
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Revenue Forecast in 2031 |
US$ 54.83 billion |
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CAGR |
6.5% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Type, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global medical biomimetics market was valued at US$ 31.11 billion in 2022 and is expected to register a revenue CAGR of 6.5% to reach US$ 54.83 billion by 2031.
Medical Biomimetics Market Fundamentals
Biomimicry is a fusion of approaches requiring the detection, perception, observance, identification, and detailed study of these systems and organisms. Biomimetics uses natural methods and organisms to inspire new scientific, technical, and technological solutions suitable for interventional use in dentistry and medicine, including tissue bioengineering. A similar journey invites elucidating the underlying mechanisms and connections between the structure and function of the stimulating natural system(s) for applied and translational biomimetics, biomimicry, or biomimetics to us humans, whether as sole individuals or in groups and when healthy end-users/consumers or patients needing therapies.
Popular examples include the development of swimsuits with fluid-drag reduction features inspired by the shape of a shark's skin, the design of airplane wings after bird wings, and the development of strong building structures modeled by turban shells. The topic of medical biomimetics has a rich history and several practical applications. Over the past few years, there have been positive advancements in manufacturing surgical equipment. These surgical tools replicate the functions of hands, feet, and mouths by cutting, stinging, sucking, and grasping. They were developed with biomimicry in mind.
The most recent biomimetic materials to be developed include Se-modified carbon nitride nanosheets, magnesium-strontium hydroxyapatite, polydimethylsiloxane, dimethylglyoxime-urethane, etc. Biomedical, oil-water separation, sensors, tissue engineering, genome technology, and ultrasound imaging are just a few of the sectors where applications of biomimetic and biological materials are unavoidable. Biomimetics has been proposed to understand various physical components' structural and functional characteristics, such as proteins, amino acids, and phospholipids. This has led to the development of protein-functionalized nanoparticles, peptide-functionalized gold nanoparticles, and carbohydrate-functionalized nanoparticles.
Medical Biomimetics Market Dynamics
Increases in the elderly population, organ failure rates, and nanotechnology innovation drive market growth. Chronic renal disease destroys the kidney and impairs its ability to function, which causes kidney failure. According to the National Renal Foundation, around 3,500 kidneys are donated yearly, and about 37 million adult Americans suffer from chronic renal disease. Biomimetics also has a bright future in regenerative medicine for treating various illnesses. Because they combine manufactured and biological components, biomimetic nanoplatforms that may be used for medication delivery can offer greater therapeutic efficacy.
The discipline of bioengineering with the greatest rate of growth is medical biomimetics. It imitates traits found in animals and plants to cure and defend against germs and sickness and control disease. A technology that mimics or exploits nature to improve the quality of human life is known as medical biomimetics. Medical biomimetics is becoming more popular in creating surgical equipment and devices. For instance, Nexa3D and Henkel collaborated in September 2021 to develop the first linked SKOP stethoscope for WeMed. The WeMed SKOP stethoscope is the first linked stethoscope to be additively made. It was generated using the NXE400 3D printer using materials from Henkel and is based on the biomimetics concept.
The application of biomimetics in tools and technologies for artificial organ fabrication has increased, primarily because older people are more susceptible to organ malfunction and failure. Organ transplantation has benefited from rising biomimetics knowledge and usage, which will fuel market expansion in the future. All nations must keep up their campaigns to promote organ donation, but creating other treatments, including bioengineering, is also critical. Several businesses are creating goods based on biomimetics. For instance, CorNeat Vision created the CorNeat KPro implant, a proprietary artificial cornea that offers a durable medical treatment for blindness and corneal injuries. The device is on a 510K clearance and CE marking path, and it is anticipated that marketing approval will occur in late 2024. The firm obtained a USD 2.44 million grant from the European Innovation Council in October 2021 to fund clinical activities, automation, and manufacturing procedures that would allow the company to provide this treatment to the market.
The market is also anticipated to increase due to rising R&D efforts and the expanding application potential of medical biomimetics in the diagnostic imaging market area, including ultrasound, ECGs, and CT scans. For instance, Imperial College London is right now creating a flexible, steerable probe that is biomimetic. This research aims to precisely place minimally invasive instrumentation (electrodes, catheters for deep brain stimulation), perform clinical analysis and diagnosis (sampling, biopsy), micro neurosurgery, and localized drug delivery to access deep brain regions with the least damage.
However, researchers contend that patients cannot obtain cell and gene treatments due to high production costs and that industry-wide capacity increase and manufacturing technique improvement would be beneficial. Cell and gene therapy is expensive. The Institute for Clinical and Economic Review (ICER) found that the average cost of a single dosage of gene therapy is between USD 1 million and USD 2 million. Similarly, cell therapy has an average price per treatment of USD 1 million, but costs vary greatly depending on the product and the indication. Therefore, this is anticipated to restrict market growth throughout the anticipated period.
Medical Biomimetics Market Ecosystem
The global medical biomimetics market is analyzed from the following perspectives by type, application, and region.
Medical Biomimetics Market by Type
Based on the type, the global medical biomimetics market is segmented into cardiovascular, orthopedic, ophthalmology, dental, and others.
The cardiovascular segment dominated the medical biomimetics market in 2022, with a revenue share of 40.1%. With 17.9 million deaths yearly, CVD is the leading cause of mortality worldwide. More than 2.1 million people annually have CVD implants to prolong their lives. Additionally, the industry will benefit from attractive changes throughout the projected period by introducing technologically sophisticated items and government financing. To generate human replacement tissues as next-generation implants for treating CVDs, LifeMatrix has created a unique bioengineering method. The proprietary Life Matrix tissues may be produced as heart valves, blood vessels, and other cardiovascular components. Throughout the patient's lifetime, the biomimetic device aids in avoiding repeated major procedures and the hazards they entail. Additionally, in April 2021, a group of cardiovascular and cardiac professionals funded the technology with USD 149707 through Venture Kick to assist with regulatory applications and expand the clinical launch plan.
Over the forecast period, orthopedics is anticipated to show significant growth.
In the medical biomimetics market, the orthopedic sector is anticipated to have stable expansion. Bones made from biomimetics have been developed to help individuals with disabilities walk. The creation of calcium-phosphate protein templates is the subject of several scientific investigations. The biomineralization process has been used to mimic genuine tissues' shape, chemical composition, and physical characteristics.
Medical Biomimetics Market by Application
Based on the application, the global medical biomimetics market is segmented into plastic surgery, wound healing, tissue engineering, and others.
In 2022, the wound healing segment dominated the medical biomimetics market, with a 30% revenue share. Due to the rising number of surgical cases and the global rise in the incidence of chronic illnesses, there is an increasing need for products that promote wound healing and wound care. The market will also keep expanding because of certain demographic trends, including an aging population, an increase in diabetes and obesity, and an associated increase in sensitivity to chronic wounds that don't heal. In the United States, 6.9 million people—or around 2% of the country's total population—were estimated to have chronic wounds as of 2021.
Medical Biomimetics Market by Region
The global medical biomimetics market is segmented based on the region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is predicted to dominate the medical biomimetics market due to the increased prevalence of chronic illnesses, the growing elderly population, and technological breakthroughs in biomimetics. About 52 million Americans, as of 2018, were 65 years of age or older, according to the U.S. Census Bureau. The chance of developing chronic illnesses, which might occasionally result in organ failure, is increased in the elderly population. John Hopkins University found that renal disorders are likely to occur in 50 percent of those over 60. The Centers for Disease Control and Prevention also reports that roughly six out of ten people in America have one or more chronic diseases. Consequently, the factors above are anticipated to drive the medical biomimetic market in North America.
The region with the greatest CAGR throughout the predicted period is Asia Pacific. Market growth in this field is anticipated to be fueled by the rising cancer incidence in nations like China and India. For instance, the total number of cancer incidence cases estimated for India in 2022 by the US Department of Health and Human Services (HHS) is 14,61,427. A lifetime chance of contracting cancer exists in India for 1 in 9 individuals. Lung and breast cancers were the most prevalent in men and women. Estimates indicate that compared to 2020, there will be 12.8% more cancer cases in 2025. Additionally, the rising rate of heart failure in nations like China and India is increasing the demand for ACT therapy in the region.
Medical Biomimetics Market Competitive Analysis
Some of the prominent market players in the global medical biomimetics market include,
Medical Biomimetics Market Strategic Development
Biomimicry is a fusion of approaches requiring the detection, perception, observance, identification, and detailed study of these systems and organisms.
North America is dominating the global medical biomimetics market.
The estimated market size of the medical biomimetics market in 2031 is US$ 54.83 billion.
The revenue CAGR of the medical biomimetics market during the forecast period will be 6.5%
Some prominent global medical biomimetics market players include Otsuka Medical Devices Group, AVINENT Science and Technology, and Biomimetics Technologies Inc.
*Insights on financial performance are subject to the availability of information in the public domain