Global Biomimetic Materials Market is valued at approximately USD 42.34 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.7% over the forecast period 2023-2030. Biomimetic Materials are Man-made synthetic materials that mimic natural biological items found in our daily lives and have a chemical makeup that enables them to change and adapt to situations. They have extrinsic and intrinsic capabilities that allow them to change depending on surrounding environmental circumstances. It is driven by the Rapid growth of artificial intelligence, automation, and Expansion of technologies in the healthcare sector also research in the field of nanotechnology robotics, and the military. Furthermore, it is anticipated that increased application of these materials in bionics and the organ industry would propel the market for biomimetic materials throughout the course of the forecast period.
Growing organ failure rates, an ageing population, and advances in nanotechnology are the main factors driving market expansion. Kidney failure is caused by chronic renal disease, which destroys the kidney and impairs its ability to function. According to the National Kidney Foundation in July 2019, estimated that around 3,500 kidneys are discarded annually and that over 37 million adult Americans suffer from chronic kidney disease. Additionally, regenerative medicine using biomimetics to treat many ailments has a bright future. A biomimetic nano platform that may be used for medication delivery has a higher potential for therapeutic efficacy since it combines manufactured and biological components. Additionally, technological advancements and R&D towards highly efficient biomimetic materials also the rise in the utilization of biomimetic materials in the advancement of artificial organs and electronics components used as replacements for failed natural organs would further provide potential opportunities for growth in the biomimetic materials market. However, the high cost associated with the production of Biomimetic Materials stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Biomimetic Materials Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rise in the use of biomimetic materials in medical, construction, electrical, electronics and information technology are expected to augment the growth of the biomimetic materials market during the forecast period in the North American region. Asia Pacific is expected to grow significantly during the forecast period, owing to an increase in the adoption of new products and incremental expansion of the infrastructure and production industry also growing demand for biomimetic materials in industries such as healthcare, automotive, and aerospace, which are major end-users of the technology.
Major market player included in this report are:
America Piezo International
Ceram Tec Group
Piezo Kinetics Inc.
Wright Medical Group
Recent Developments in the Market:
? In January 2021, expansion of Applied Biomimetics, Inc. The company expanded its research laboratory and production units in Gaithersburg, Maryland. This will help the company in the building and maintenance of high inventory and the improvement of performance for fulfilling the requirements of customers.
Global Biomimetic Materials Market Report Scope:
? Historical Data – 2020 - 2021
? Base Year for Estimation – 2022
? Forecast period - 2023-2030
? Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
? Segments Covered - Material, Application, Region
? Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
? Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Biomimetic Ceramics & Glass
Biomimetic Metals & Alloys
Middle East & Africa
Rest of Middle East & Africa