San Francisco, CA -- (SBWIRE) -- 05/17/2019 -- Global Medical Biomimetics Market: Overview
Biomimetics refers to the study of natural phenomena, nature, and living organisms to understand the principles of underlying mechanisms. Obtaining ideas from these sources and applying those concepts for the benefit of areas such as engineering, science, and medicine forms the core basis of research activities central to the field of biomimetics. Biomimetic principles are effectively applied to medical products such as prosthesis, implants, surgical instruments, and exoskeletons, allowing the manufacture of highly realistic varieties. For the purpose, people as well as animals are used as models.
Global Medical Biomimetics Market: Trends
One of the key factors expected to drive the global market for medical biomimetics is the rising geriatric population and the subsequent rise in demand for prosthesis and implants. The high rate of organ failure in geriatric people will stimulate the increased use of biomimetic technologies in the field of organ regeneration. Significant advances in the area of tissue engineering and incorporation of biomimetic technologies for organ regeneration are together expected to bring about a positive transformation in the field of organ transplantation in the next few years. Medical fields utilizing biomimetics include cardiology, dentistry, ophthalmology, and orthopedics.
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Global Medical Biomimetics Market: Market Potential
As the highly complex free-form surfaces of animals, humans, or other biological objects and the ones inspired by nature can be properly reproduced only with the use of additives, the 3D printing technology is being increasingly used for the speedy fabrication of made-to-measure medical products and prosthesis. Nanotechnology principles are also increasingly employed for the development of newer varieties of biomimetic materials for use in protein delivery systems, tissue engineering, and drug targeting mechanisms.
The field of robotics is also abuzz with research revolving around the applications of biomimetics in developing anthropomorphic and kinematically accurate robotic components. Recently, scientists from the University of Washington in Seattle have built, what is being called the present times' most detailed and kinematically precise robotic hands. The design, according to the scientists, has been made with the goal of human hands, which could have vast advantages in telemanipulation, wherein the operator can seamlessly leverage the ease and accuracy of performing an action to the level of manual execution. It would not be long till the medical applications of this anthropomorphic robotic arm are found.
Global Medical Biomimetics Market: Regional Analysis
From a geographical perspective, the report analyzes the market for medical biomimetics for regions such as North America, Europe, Asia Pacific, and Middle East and Africa. Presently, the North America market dominates the market owing to factors such as high rate of adoption of novel technology, high base of geriatric patients, and the presence of several companies engaged in the research and development of medical biomimetic products. The high disposable incomes of the population also allow high expenditure for healthcare and support expensive procedures.
The market in Asia Pacific is expected to exhibit growth at a promising pace in the next few years owing to the thriving medical tourism industry in the region and a rising population of geriatrics and high disposable income patients. Increased focus on the applications of biomimetics in the robotics sector will make countries such as Japan, South Korea, and Malaysia the top investment grounds for companies wanting to extend their acumen in the field of biomimetics.
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Global Medical Biomimetics Market: Competitive Outlook
The global biomimetics market features a highly dynamic vendor landscape with increased focus from companies on research and development activities aimed at the development of novel medical biomimetic products and expansion of area of application of medical biomimetics principles. The market features a large number of small, medium, and large companies, pointing towards a highly fragmented competitive landscape. Some of the key companies operating in the market are BioHorizons, Avinent, Hstar Technologies Corporation, Forschungszentrum Jülich, Biomimetics Technologies, and Applied Biomimetic.
The study presents reliable qualitative and quantitative insights into:
Market segments and sub-segments
Market trends and dynamics
Supply and demand chain of the market
Market valuation (revenue and/or volume)
Forces defining present and estimated future state of the competitive landscape
Value chain and stakeholder analysis
The regional analysis covers:
Middle East and Africa
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
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