Medical Biomimetics Market size to exceed $34.4 bn by 2024

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Medical Biomimetics Market size worth 34.4 bn by
2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Medical Biomimetics Market

• Global medical biomimetics market size is
  anticipated to reach USD 34.4 billion by 2024,
  increasing from USD 21.4 billion in 2015, with
  forecast projection of 5.5 CAGR from 2016 to
  2024.
• The cardiovascular and orthopedic segments
  together grabbed a medical biomimetics market
  share of 69 in 2015, due to the increasing
  prevalence of cardiovascular, and orthopedic
  disorders due to rise in aging population.  
• Drug delivery and tissue engineering formed the
  largest application markets of medical
  biomimetics in 2015, since various biomimetic
  scaffold that mimics certain features of the
  natural ECM such as supporting cell
  recruiting/seeding, adhesion, proliferation,
  differentiation are being artificially designed
  for tissue engineering.

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Continued...

• North America industry was valued at over USD 10
  billion in 2015, accounted for the major regional
  share. Germany and UK collectively garnered a
  share of more than 50 in the Europe medical
  biomimetics market.
• The industry is marked by high level entry
  barriers due to strict regulatory guidelines, and
  high cost of product development as well as
  research. Moreover, established players
  collaborate with research organizations to
  develop new products.
• With large pool of geriatric population, China,
  and Japan are the major revenue pockets of the
  APAC region, while Brazil and Mexico are the
  revenue puller for LATAM.

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U.S. Medical Biomimetics Market size, by Product,
2012- 2024 (USD Mn)

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360 Analysis

• Product Analysis
• Global medical biomimetics market share was
  predominantly driven by cardiovascular segment,
  followed by orthopedic and dental contributing to
  over 36 of overall revenue in 2015. The
  anticipated rise in the aging population should
  lead to rising prevalence of cardiovascular
  disorder, driving the segment growth at 5.6 CAGR
  from 2016 to 2024.
• Regional Analysis
• U.S. medical biomimetics market share leads the
  industry with largest revenue attributed to high
  level of patient awareness, rapid technological
  developments, favorable ecosystem for RD, along
  with huge presence of geriatric population with a
  high capacity for healthcare expenditure.
• Competitive Market Share
• Global medical biomimetics market share is
  dynamic due to tremendous advancements in
  technology over past five years. This has
  unleashed new opportunities for industry players
  to offer more innovative and enriched products
  and improve the overall business scenario. The
  industry is highly fragmented in nature, garnered
  by number of small players, and active
  participation of various research organizations.

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