Medical Biomimetics Market Size

Medical Biomimetics Market Size

Medical Biomimetics Market size was valued at over USD 32 billion in 2020 and is expected to witness more than 6.5% CAGR from 2021 to 2027. Advancements in biomimetics development technologies have improved its potential in basic research and clinical applications. Innovations and adoption of nanotechnology and medical engineering in healthcare leads to access numerous applications such as tissue engineering, plastic surgery, organ regeneration, implants, and drug delivery among others. With growing effectiveness in treatment and recovery using biomimetic products, the industry will observe lucrative growth during the forecast timeframe.

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Rising prevalence rate of chronic disease will augment the market demand in the coming years. Geriatric population is highly susceptible to several diseases such as neurological diseases, cardiovascular diseases, orthopedic diseases among several others. As per the National Kidney Foundation, one in five men and one in four women aged 65 to 74 years having chronic kidney disease in the world. Hence, increasing application of biomimetics to treat patients and use of nanotechnological platforms for better therapeutic outcomes will enhance the industry outlook during the forecast period.