The “Global Biomimetic Technology Market: Focus on Medical & Robotics: (End-User and Application) – Analysis and Forecast, 2018-2028” report has been added to ResearchAndMarkets.com’soffering.
The global biomimetic technology market was valued at $6.80 billion in 2017
Rising demand for biomimetic nano drones for search and rescue, surveillance, and biomimetic technologies in medical prosthetics are the main factors driving the global biomimetic technology market.
Biomimetic technology market is anticipated to exhibit fast-paced growth during the forecast period 2018-2028. Biomimetics is a field that has the potential to drive the major technological advances in various end-user industries such as medical and robotics.
The emerging biomimetic technology is an asset in medical and robotics sectors. The biomimetic technology is of interest to engineers and researchers, as it is commonly used in robotics, nanotechnology, medical industry, artificial intelligence (AI), and the military. Search & Rescue & Prosthetics are the leading market applications in the global biomimetic technology market
On the basis of application, the biomimetic technology market is classified 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 prosthetics segment dominated the biomimetic technology market in the medical sector. The growth in the market is mainly due to the increasing amputee population based on increasing accidents, diabetes, and vascular diseases, the dominance of the market is one of the crucial factors expected to drive the biomimetic prosthetic market.
The robotics biomimetic technology market is expected to grow at the highest CAGR of 18.66% during the forecast period from 2018 to 2028. The penetration of biomimetic technology for nano drones in military/law enforcement has emerged with the development of latest innovations in nano technology.
Globally, North America is one of the most prominent regions, which is continuously advancing its technologies related to bionic medical treatments. The North America region is one of the early adopters of biomimetic technology and is leading in biomimetic robots and medical material 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.
The company profiles in the report 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.