Medical Biomimetics Market Expected to Reach $68.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Medical Biomimetics Market," The medical biomimetics market size was valued at $35.4 billion in 2021 and is estimated to reach $68.9 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031. Biomimetics is the study of nature and natural phenomena to understand the principles of underlying mechanisms, draw inspiration from nature, and apply ideas that could be useful in science, engineering, and medicine.

Examples of biomimetic studies include the shape of airplanes developed from the look of birds, fluid-drag reduction swimsuits inspired by the structure of the shark’s skin, and stable building structures copied from the backbone of turban shells. Biomimetics is an interdisciplinary field that comprises principles from chemistry, engineering, and biology. The principles are applied to the synthesis of materials, machines, or synthetic systems that consist of functions or operations that mimic biological processes. Synthetic or natural materials that show interaction with any part of a biological system are known as biomaterials. Biomimetic designs are used in tissue engineering, regenerative medicine, and drug delivery.

In addition, medical biomimetics is used to treat heart disease, and to solve dental problems, such as dental caries and periodontal diseases. In the orthopedic field, medical biomimetics is used to replace a missing joint or bone or to support a damaged bone. Few Medical Biomimetics Market trends include the rise in the adoption of novel biomaterials in implantable products to avoid complications and side effects associated with the procedures. 

The growth of the medical biomimetics market size is majorly driven by a rise in the prevalence of chronic disease, heart diseases, orthopedic diseases, & injuries, dental caries, and periodontal diseases, advancement in drug delivery, and a rise in funding support by various organizations for research in biomimetic material. For instance, according to World Health Organization (WHO), data published in 2022, estimated that 14% adult population is affected by periodontal disease, representing more than 1 billion cases across the world.

In addition, the rise in ophthalmic problems such as deformed, scarred, or opacified corneas and the rise in the geriatric population that is vulnerable to orthopedic disorders, dental problems, and heart attacks drives the growth of the market. For instance, according to the world health organization (WHO) in 2020, it was estimated that about 727 million persons aged 65 years or over will be worldwide. This number is projected to more than double by 2050, reaching over 1.5 billion people. The share of older people in the global population is expected to increase from 9.3 % in 2020 to 16.0 % in 2050.

In addition, biomimetic molecules promote faster and better healing outcomes, thus the increase in demand for wound healing and wound care products and the rise in awareness regarding the use of medical biomimetics drive the growth of the medical biomimetics market share in developing countries such as India and China. This is anticipated to offer remunerative opportunities for key players to invest in the market during the forecast period.

Moreover, the rise in R&D investments, a significant increase in capital income in developed countries, and a rise in key strategies including product launch, collaboration, merger, acquisition, and agreement, adopted by key players, drive the growth of the medical biomimetics market. For instance, in February 2022, NanoHive Medical, LLC, a leading innovator in 3D printed, biomimetic spinal interbody fusion solutions, announced that it has entered into a distribution agreement with Accelus, a privately held medical technology company dedicated to advancing spinal surgery treatment. The agreement expands the distribution network for NanoHive Medical’s Hive Soft Titanium portfolio of interbody fusion devices in the U.S.

On the basis of disease type, the dental segment generated maximum revenue in 2021 and is expected to witness the highest CAGR during the Medical Biomimetics Market Forecast period, owing to the high adoption of dental biomimetics products, an increase in the use of dental biomimetics products, availability of various biomimetics product for dental disease in the market and rise in prevalence of dental caries, periodontal disease such as gingivitis, periodontitis. For instance, according to the Centers for Disease Control and Prevention (CDC) in 2020, it was estimated that periodontitis affected 70% of individuals over 65 in the U.S.

By application, the wound healing segment generated maximum revenue in 2021. The tissue engineering segment is expected to witness the highest CAGR during the forecast period, owing to a rise in research and development activities for use of biomimetics products in tissue engineering, and an increase in focus on creating functional tissue grafts globally. Tissue engineering allows researchers to create models to study various diseases, such as cancer and heart disease. Thus, the rise in the prevalence of cancer such as breast cancer, heart disease, and other chronic diseases propels the demand for tissue engineering and drives the growth of the medical biomimetics market share.

Depending on the region, North America generated the maximum revenue in 2021. Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to an increase in population, the surge in healthcare expenditure, and the rise in awareness related to medical biomimetics.

KEY FINDINGS OF THE STUDY

• On the basis of disease type, the dental segment held the largest share in the Medical Biomimetics Market Analysis in 2021. The same segment is expected to witness the highest CAGR during the forecast period.
• By application, the wound healing segment held the largest share in the medical biomimetics industry in 2021. The tissue engineering segment is expected to witness the highest CAGR during the forecast period.
• On the basis of region, North America held the largest market share in 2021 and Asia-Pacific is expected to witness the highest CAGR during the forecast period.