Medical Biomimetics Market Demand, Growth, Opportunities, Top Key Player and Forecast To 2024
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. Avinent Implant System
4. BioMimetic Laboratories, Inc
5. BioTomo Pty, Ltd. (Biomimetics)
6. Chas A Blatchford & Sons Ltd. (Endolite)
7. Forschungszentrum Jülich GmbH
8. Hstar Technologies Corporation
9. SynTouch LLC
10. Veryan Medical
Cardiovascular products apparently, gained extensive momentum in the year 2017, contributing to the expansion of medical biomimetics market. Apparently cardiovascular products dominated the medical biomimetics industry in the year 2017, primarily owing to the surging prevalence of cardiovascular disorders across the developed and developing countries. The rising adoption of a sedentary lifestyle and an unhealthy diet will further propel the growth of this segment – estimates claim that cardiovascular medical biomimetics market size is expected to record a CAGR of 5.9% over 2018-2024.
The numerous technological advancements in conjunction with the rising R&D programs – like the development of an advanced biomimetic heart will further expedite cardiovascular medical biomimetics market share.
Speaking of the regional landscape, it is prudent to state that the United States is bound to emerge as one of the most profitable revenue grounds for medical biomimetics market. Seemingly, the U.S. dominated the North America medical biomimetics industry in 2017 and is anticipated to cross a valuation of USD 15.1 billion by 2024. Aided by the increasing number of people suffering from chronic conditions such as cardiac disorders, rising rate of organ transplantation and presence of organization such as 3B’s Research Group that has collaborated with universities to advance research regarding biomaterial and development of biomimetic products will drive U.S. medical biomimetics market.
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The growth of the U.S. medical biomimetics industry can also be credited to the huge geriatric patient pool and an increased number R&D medical activities. Besides, tremendous technological advancements, increased patient spending capacity on healthcare, and the rising prevalence of cardiovascular ailments should also expedite U.S. medical biomimetics industry share.
Major participants operating in global biomimetics industry include HStar Technologies Corporation, Forschungszentrum Jülich, Avinent, Biomimetics Technologies, BioHorizons, and Applied Biomimetic. This market is rather fragmented and includes the presence of numerous small and medium sized enterprises and research organizations. Global medical biomimetics market size is rather dynamic, subject to the numerous technological innovations, which have unlocked potential growth opportunities for market players to diversify their product offering and expand their global presence.
The latest trend in medical biomimetics industry is that of nanotechnology. This technology will help generate biomimetic materials that will aid biological recognition for tissue engineering devices and for drug targeting. Additionally, it will also help synthesize protein delivery systems and biomimetic gels. The rapid advancements in the field of nanotechnology will thus, favorably influence medical biomimetics market growth.
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