Medical Biomimetics Market Business Growth, Statistics 2021-2025
Category: #headlines  By Ronak Bora  Date: 2021-08-03
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Medical Biomimetics Market Business Growth, Statistics 2021-2025

Growing geriatric population base along with increasing cases of organ failure are expected to be some of the growth rendering factors for medical biomimetics market. The industry covers a wide-ranging of application areas such as dentistry, ophthalmology orthopedics, and cardiovascular in the healthcare sector.

Cases of cardiovascular diseases have reportedly risen across various countries. Factors like lack of physical activities, unhealthy diet, and high adoption of western culture have elevated the cases of CVD. There is also a large presence of elderly population prone to CVD across countries like the U.S. According to the U.S. Census Bureau's 2017 National Population Projections, that there will be nearly 78 million people aged more than 65 years, while 76.7 million under 18 years of age in the U.S. by 2035. Figures that indicate a potential increase in the demand for medical biomimetics products in the coming years.

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As per a new research report published by GMI, the medical biomimetics market is estimated to reach over USD 35 billion by 2025.  Companies like Veryan Medical, Applied Biomimetic, Abbott, Avinent, BioHorizons IPH, Biomimetics Technologies, and BioHorizons are among the major players functioning in the medical biomimetics industry. These industry players are collaborating with universities and other research institutes to strengthen the development of innovative biomimetic products.

Underpinning some of the prominent trends in medical biomimetics market:

1)         Advancements in Germany healthcare sector

The Germany medical biomimetics market is expected to witness lucrative growth in light of rising geriatric population base that is mostly inclined to suffer from organ failure as well as high technological advancements in the healthcare sector.

Increasing prevalence of cardiovascular disorders, ophthalmology, and orthopedic in the region are likely to stimulate the requirement for medical biomimetics products. As per a report, in 2018, Germany dominated the Europe medical biomimetics market, and is projected to grow at 5.8% during the forecast period.

2)         Biomimetics orthopedic to gain grip

Mounting cases of injuries and accidents have resulted in the requirement for prosthetic limbs. Growing demand for implants and orthopedic prosthesis in many regions is expected to boost the need for biomimetics orthopedic. Technological advancements and innovations like the development of augmented bone graft are some of the factors expected to positively boost product demand. Reports indicate that the orthopedic product sector seized more than 30% of the market share in 2018 and is assessed to witness momentous growth during the estimated period.

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3)         Demand for cosmetic surgeries in Saudi Arabia

The Saudi Arabia medical biomimetics industry will be driven by rising awareness, technological advancements, and growing adoption of surgical procedures by women. As per a report, the Saudi Arabia medical biomimetics market is projected to witness a 5.2% CAGR during the prediction timeframe.

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine 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 spo...

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