Increasing Prevalence of Chronic Diseases to Augment the Medical Biomimetics Market Growth

Medical Biomimetics Market


Medical biomimetics are used to develop biocompatible material that allows clinicians to monitor and treat chronic diseases such as heart disease. Biomimetics can be applied in many areas, including tissue engineering, regenerative medicine, and drug delivery. The inclusion of nanotechnology played an important role for application in drug delivery systems as well as bone structures. Medical Biomimetics mimics nature in a bid to improve the lives of humans. 

Biomimetics deals with the study of adaptive and non-adaptive characteristics of living things. Sometimes, it is also referred to as somatic genomics because it studies the effect of body composition on biological traits. Over the years, the use of biomimetics in making surgical devices has increased. These bio-mimetically inspired surgical devices are provided with the functionalities of basic functions performed by the feet, hands, or mouth such as gripping, stinging, sucking, and cutting. 

Market Dynamics

Increasing incidences or prevalence of chronic diseases, such as cardiovascular diseases, are expected to drive the growth of the medical biomimetics market. For instance, according to the World Health Organization (WHO), cardiovascular diseases (CVDs) are a leading cause of death worldwide, account for around 17.9 million lives each year.

Moreover, growing geriatric population, increasing healthcare expenditure in developed and developing countries, increasing demand for prosthetics, implants for organ transplant, rising tissue engineering applications, increasing the adoption of biomimetic technology, and increasing research and development activities are expected to propel the medical biomimetics market growth.

The emergence of COVID-19 is expected to offer lucrative growth opportunities to players in the medical biomimetics market. For instance, according to WHO, worldwide, as of 9:47am CET, 13 January 2021, there have been 90,054,813 confirmed cases of COVID-19, including 1,945,610 deaths. However, the high cost of medical biomimetics devices is expected to restrain the growth of the medical biomimetics market.

Competitive Analysis

Major players operating in the medical biomimetics market are Applied Biomimetic, Osteopore International Pte Ltd., Abbott, Varian Medical Systems, EP Endovascular AB, Wright Medical Group, SynTouch Inc., and AVINENT Science & Technology.

Major players in the market are adopting various inorganic strategies such as new product development, expansion of production capabilities, mergers and acquisitions, etc. to expand their product portfolio or strengthen their market position. For instance, in November 2019, Applied Biomimetic announced the opening of its new production facility in the United States to expand its product portfolio.

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