Sellbyville, DE -- (SBWIRE) -- 05/23/2019 -- Global Medical Biomimetics Market is set to exceed USD 34 billion by 2024; according to a new research report by Global Market Insights. Increasing geriatric population should act as high impact rendering factor for medical biomimetics market. Increasing rate of organ transplantation has accelerated demand for prosthesis and implants. According to U.S. government's data, around 34,770 transplants were conducted in the country in 2017.

Growing adoption of biomimetic technology for organ regeneration coupled with increasing research activity pertaining to application of biomimetics in healthcare should drive medical biomimetics industry. High rate of organ failure among elderly population, should substantially increase demand for biomimetics in coming future.

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Several applications of biomimetics in medical fields including dentistry, orthopedics, cardiology, ophthalmology and others should positively impact market size growth. Moreover, significant progress of tissue engineering, nanomedicine and several medical fields utilizing biomimetics should escalate business growth. However, stringent regulations will restrain industry growth to certain extent during the forecast period.

Cardiovascular product segment dominated the industry in 2017 and is anticipated to grow at 5.9% during the forecast timeframe. Increasing incidences of cardiovascular disorders due to growing adoption of sedentary lifestyle and unhealthy diet will act as primary driver for segment growth. Furthermore, technological advancements and increasing R&D activities such as development of advanced biomimetic heart that can be used as cardiovascular research instrument should positively impact industry growth.

Drug delivery application segment is estimated to witness 6.3% CAGR during the analysis period owing to growing adoption of three-dimensional (3D) biomimetic models by pharmaceutical industry for controlled drug delivery. Advanced engineering technologies and appropriate biomaterials have enabled drug delivery in rate-adjusted way thereby fueling segmental growth.

U.S. medical biomimetics market dominated North America region in 2017 and is estimated to reach over 15.1 billion by 2024. Increasing number of people suffering from chronic conditions such as cardiac disorder, 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.

Medical Biomimetics Market, by Product

1 Cardiovascular
2 Orthopedic
3 Prostheses
4 Exoskeleton

Medical Biomimetics Market, by Application

1 Plastic surgery
2 Wound healing
3 Tissue engineering
4 Drug delivery

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Chapter 1. Methodology

1.1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2. Primary

Chapter 2. Executive Summary

2.1. Medical biomimetics Market 3600 synopsis, 2013 – 2024 (USD Million)
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Regional trends

Chapter 3. Medical Biomimetics Market Insights

3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry impact forces

3.3.1. Growth drivers
3.3.1.1. Advancements in nanotechnology
3.3.1.2. Growing elderly population and increasing rate of organ failure
3.3.1.3. Growing tissue engineering market
3.3.1.4. Favorable funding scenario

Chapter 5. Medical Biomimetics Market, By Application

5.1. Key segment trends

5.2. Plastic surgery
5.2.1. Market size, by region, 2013-2024 (USD Million)

5.3. Wound healing
5.3.1. Market size, by region, 2013-2024 (USD Million)

5.4. Tissue engineering
5.4.1. Market size, by region, 2013-2024 (USD Million)

5.5. Drug delivery
5.5.1. Market size, by region, 2013-2024 (USD Million)

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Data Tables

TABLE 1. Medical biomimetics industry 3600 synopsis, 2013 – 2024
TABLE 2. Global medical biomimetics market, 2013 – 2017 (USD Million)
TABLE 3. Global medical biomimetics market, 2018 – 2024 (USD Million)
TABLE 4. Global medical biomimetics market, by product, 2013 - 2017 (USD Million)
TABLE 5. Global medical biomimetics market, by product, 2018 - 2024 (USD Million)
TABLE 6. Global medical biomimetics market, by application, 2013 - 2017 (USD Million)
TABLE 7. Global medical biomimetics market, by application, 2018 - 2024 (USD Million)
TABLE 8. Global medical biomimetics market, by region, 2013 – 2017 (USD Million)
TABLE 9. Global medical biomimetics market, by region, 2018 – 2024 (USD Million)