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Biomimetic Technology Market Size Forecasted to be Worth USD 17.73 Billion by 2027

Biomimetic Technology Market

The global biomimetic technology market is expected to be valued at USD 17.73 Billion by 2027 from 8.21 Billion in 2019, registering a CAGR of 10.8% through the forecast period. This growth is attributable to increasing number of elderly population across the globe, which is boosting need for advanced healthcare. Such factors are boosting the demand for advanced treatments for diseases, such as cardiac, orthopedic problems, neurosurgery and, in turn, are driving growth of the global biomimetic technology market. Additionally, the increase in cases of organ failures among the geriatric population is estimated to offer opportunities for growth during the forecast period. However, the market is witnessing sluggish growth owing to the stringent regulatory guidelines imposed by several governments globally.

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Key Highlights from Report

  • In October 2020, AeroVironment, Inc. announced collaboration with Viasat Inc. for improving the connectivity and enhancing transmission safety of the AeroVironment optical data link radios.
  • The Molecular Bionics sub-segment is projected to acquire the largest market share and to expand at a CAGR of 10.9% over the forecast period. This growth is attributable to its wide adoption in tissue regeneration, drug delivery, and molecular genetics.
  • Based on application, the drug delivery sub-segment is estimated to hold the largest market share over the forecast period. This growth is attributable to optimized vaccine production and the adoption of site-specific drug delivery with nanocarriers.
  • The healthcare sub-segment is forecast to dominate the market over the estimated timeframe owing to rising number of prosthetic populations.
  • Based on end-use, the research institutes sub-segment is expected to witness the fastest market growth owing to the rising investment from government institutions.
  • Owing to the increased investment in R&D activities, coupled with the implementation of many government initiatives for the adoption of advanced solutions, North America is predicted to acquire the largest market share in the biomimetic technology market.
  • Key participants in the biomimetic technology market include Chas A Blatchford & Sons Ltd., Hstar Technologies Corporation, Applied Biomimetic A/S, Veryan Medical Ltd., SynTouch LLC, Wright Medical Group, Inc., Biohorizons Implant Systems, Inc, AeroVironment, Inc.,  Forschungszentrum Jülich GmbH, and BioMimetic Laboratories, Inc.

Emergen Research has segmented the Global Biomimetic Technology Market on the basis of type, application, end-use, and region:

  • Type Outlook (Revenue, USD Billion; 2017-2027)
    • Molecular Bionics
    • Information and Control Bionics
    • Mechanical Bionics
    • Energy Bionics
    • Others
  • Application Outlook (Revenue, USD Billion; 2017-2027)
    • Drug Delivery
    • Wound Healing
    • Prosthetics
    • Tissue Engineering
    • Surveillance
    • Rescue
    • Security and Safety
    • Underwater Research
    • Traffic Monitoring
    • Others
  • End-Use Outlook (Revenue, USD Billion; 2017-2027)
    • Biotechnology
    • Healthcare
    • Defense
    • Research Institutes
    • Others
  • Regional Outlook (Revenue, USD Billion; 2017-2027)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. U.K.
      3. France
      4. BENELUX
      5. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. India
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. U.A.E.
      3. Rest of MEA

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