Medical Biomimetics Market share to exceed $34.4 bn by 2024

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Global Medical Biomimetics Market share to hit
34.4bn by 2024 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights of Medical Biomimetics Market

• Medical Biomimetics Market is gaining high
  popularity as a future technology owing to
  enhanced support in the form of government
  funding for conducting advanced research
  pertaining to this this technology.
• For instance, the national cancer institute (NCI)
  and national institutes of health (NIH) are
  investing heavily in biomimetic
  tissue-engineering technologies to support the
  cancer research.
• Furthermore, growing old-age population, an
  increase in the rate of organ failure, and
  breakthroughs in nanotechnology are predicted to
  fuel the medical biomimetics market growth over
  the coming years.
• As per the UN, the global aging population which
  was nearly 809 million in 2012, is expected to
  reach approximately 2 billion by 2050. The UNOS
  (United Network for organ sharing) data figures
  display that there was a fifteen-fold rise in the
  number of patients requiring liver
  transplantation in the past 10 years and it is
  predicted to grow further in future with the rise
  in geriatric population as the rate of organ
  failure in elderly people is higher.

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Continued

• Medical Biomemetics technology finds applications
  in plastic surgery, drug delivery, wound healing,
  and tissue engineering. It finds large
  applications in tissue engineering sector due to
  the recent technological breakthroughs in tissue
  organ regeneration coupled with a rise in
  chronic ailments.
• Amongst the various kinds of medical biomimetics
  such as cardiovascular, dental, orthopedic, and
  ophthalmology, the cardiovascular medical
  biomimetics market dominated the global industry
  share by accounting for 36 of the overall share
  in 2015.
• The North America medical biomimetics market
  share worth USD 10 billion in 2015, is predicted
  to witness a heavy surge over the period of
  2016-2024 owing to the fast-technological
  changes, high level of patient awareness,
  increase in R D activities, and a large
  presence of aging population with high ability to
  spend on healthcare services.
• Key industry participants include Applied
  Biomimetics, Avinent, Biomimetics Technologies,
  BioHorizons, Forschungszentrum Jülich, and Hstar
  Technologies Corporation. The market players will
  invest in RD activities and partner with
  research firms to create new products, as part of
  their growth strategies.

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

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