The global biomimetic technology market is expected to reach $18.51 billion by 2028.
The North American region accounted for the largest market revenue share of 46.70% in 2017. The region is one of the early adopters of biomimetic technology and is leading in biomimetic medical and robotic development. The North America biomimetic technology market is followed by Europe, which is estimated to be second in terms of revenue generation in the year 2017.
Europe is expected to grow at a CAGR of 9.73% during the forecast period 2018-2028. The region is focused on the development of both medical and robotics biomimetic technologies. For instance, in Germany, nano drones have become extremely valuable tools for combat and surveillance activities in defense, thus expected to drive the biomimetic nano drones market.
According to Swati Chaturvedi, an Senior Analyst, “The biomimetic technology market is witnessing a fast-paced growth worldwide. North America and Europe dominate the market in terms of revenue generation owing to the presence of developed countries. Furthermore, the new field of bio-inspired technologies would lead to the creation of bio-inspired devices and materials that could transform the medical industry.”
Some of the key players in the global biomimetic technology market include AeroVironment, Inc., and Wright Medical Group Inc., Avinent, Biomimetic Technology Inc., Chas. A. Blatchford & Sons Ltd, Hstar Technologies, Syntouch LLC, and Veryan Medical, among others.
The prominent players in the biomimetic technologies market adopted strategies of new product launch, contracts, mergers and acquisitions, and collaboration to expand their business.
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary, and SWOT analysis.
The segmentation has been done based on the end-user: Medical and Robotics. Based on application, the market is segmented into prosthetics, drug delivery, tissue engineering, wound healing in medical industry and search & rescue, surveillance, underwater research, security and safety, and traffic monitoring in robotics. The report also includes a comprehensive section on the geographical analysis including country-wise analysis for more than 15 different countries.
This report is a meticulous compilation of research on more than 50 players in the biomimetic technology ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also includes around 10 company profiles including AeroVironment, Inc., and Wright Medical Group Inc., Avinent, Biomimetic Technology Inc., Chas. A. Blatchford & Sons Ltd, Hstar Technologies, Syntouch LLC, and Veryan Medical, among others.
Key questions answered in the report: