What is Medical Biomimetics Market?
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 skin structure-motivated invention of swimsuits with features such as fluid-drag reduction, airplane wings modeled on the wings of birds, and turban shells inspired by robust building structures. The field of medical biomimetics offers many practical applications. Over the past few years, the prospects of the 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.
Highlights from Medical Biomimetics Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Abbott Laboratories (United States), Avinent Science and Technology (Spain), Applied Biomimetic (United States), Blatchford Ltd. (United Kingdom), Biomimetic Solutions (United Kingdom), Hstar Technologies Corporation (United States), BioHorizons IPH, Inc. (United States), Forschungszentrum Jülich (Germany), Biomimetics Technologies (Canada) and Keystone Dental Inc. (United States) |
Key players in the Medical Biomimetics market include Veryan Medical, SynTouch Inc., Blatchford Ltd., Skyland Brand Ventures, Avinent Science and Technology, Applied Biomimetic, Biomimetic Solutions, CellCore, and Forschungszentrum Jülich. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European and United States Players will contribute to the maximum growth of Global Medical Biomimetics market throughout the forecasted period.
Abbott Laboratories (United States), Avinent Science and Technology (Spain), Applied Biomimetic (United States), Blatchford Ltd. (United Kingdom), Biomimetic Solutions (United Kingdom), Hstar Technologies Corporation (United States), BioHorizons IPH, Inc. (United States), Forschungszentrum Jülich (Germany), Biomimetics Technologies (Canada) and Keystone Dental Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are CellCore (Nigeria), BioTomo (Brazil), Skyland Brand Ventures (United States), Veryan Medical (United Kingdom) and SynTouch LLC (United States). Medical Biomimetics Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Wound Healing, Tissue Engineering, Drug Delivery, Plastic Surgery and Others |
Type | Cardiovascular, Orthopedic (Prostheses, Exoskeleton), Ophthalmology, Dental and Others |
On the basis of geography, the market of Medical Biomimetics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Tissue Engineering Applications
Market Growth Drivers:
Growing Elderly Population and Increasing Rate of Organ Failure, Favorable Funding Scenario and Increase in the Adoption of Biomimetic Technology for Organ Regeneration
Challenges:
High Per Unit Production Cost Related to Low Volume of Sales
Restraints:
Stringent Clinical and Regulatory Requirements
Opportunities:
Increase in Research and Development Activities, and Advancements in Nanotechnology and Rise in Demand for Biomimetics for Various Medical Applications
Key Target Audience
Medical Biomimetics Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
Market Leaders & Development Strategies
In September 2021, Keystone Dental Inc. the largest independent dental implant company announced the acquisition of Osteon Medical, a technology company based in Melbourne and Australia that leverages proprietary software and proprietary hardware development to deliver digital solutions to clinicians and dental laboratories to dramatically improve digital workflows. This increases Keystone's global recognition in the dental market with its innovative solutions and quality products.
In September 2020, Veryan Medical announces the launch of its revolutionary BioMimics 3D Vascular Stent System. The BioMimics 3D Vascular Stent System is designed to improve lumen diameter when treating symptomatic de novo or restenotic lesions in the native superficial femoral and proximal popliteal arteries.