According to a new market intelligence report by BIS Research, titled 'Global Biomimetic Technology Market - Analysis and Forecast, 2018-2028', the global biomimetic technology market is expected to reach $18.50 billion by 2028 and witness a CAGR of 10.04% during the forecast period from 2018 to 2028. Biomimetics refers to technologies which are biologically inspired including human made substances, devices, processes, and systems that imitate nature. Biomimetics is also known by other names, including biognosis, bionics, bio-inspiration, and biomimicry.
The increasing demand for bio-inspired technologies in various sectors such as medical, defense, and others is creating new opportunities for biomimetic technology market. The new field of bio-inspired technologies is expected to create bio-inspired devices and bio-materials that could transform the industry, environment and medicine.
Browse more than 22 Data Tables and 82 Figures spread through 138 Pages and in-depth TOC on "Global Biomimetic Technology Market."
According to Mr. Weber, Scientist at Bionic Engineering Network - BEN e.V, "The advanced biomaterials and biomimetic technologies developed for medical industry in tissue engineering have potential applications for cancer research. The emergence of biomimetic nanoparticles as an efficient and promising technology is expected to accentuate the growth of bionics."
The North America region accounted for the largest market revenue share of 46.70% in 2017. The region is one of the early adopters of biomimetic technology and is leading the biomimetic medical and robotic development market. The North America biomimetic technology market is followed by Europe, in terms of revenue generation in the year 2017. Europe is expected to grow at a CAGR of 9.73% during the forecast period 2018-2028. The region is focused on the development of both medical and robotics biomimetic technologies. For instance, in Germany, nano drones have become extremely valuable tools for combat and surveillance activities in defense, and are thus expected to drive the biomimetic nano drones market.
BIS Research Report: https://bisresearch.com/industry-report/biomimetic-technology-market.html
According to Swati Chaturvedi, senior analyst at BIS Research, "The biomimetic technology market is witnessing a fast-paced growth across the globe. Further, biomimetic nano drones owing to their advantageous features, such as entering narrow and confined spaces and capturing data is creating new opportunities in the defense industry. Moreover, the new field of bio-inspired technologies would lead to the creation of bio-inspired devices and materials that could transform the medical industry."
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary, and SWOT analysis. The segmentation has been done based on the end-user i.e. medical and robotics. Based on application, the market is segmented 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.
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The report also includes a comprehensive section on the geographical analysis including country-wise analysis for more than 15 different countries. This report is a meticulous compilation of research on more than 50 players in the biomimetic technology ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The prominent players in the biomimetic technologies market adopted strategies of new product launch, contracts, mergers and acquisitions, and collaboration to expand their business. The report also includes around 10 company profiles including 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.
Key questions answered in the report:
- What was the size of the biomimetic technology market in terms of value ($million) in 2017, and what will be its growth rate during the forecast period 2018-2028?
- Which biomimetic technology application and end-user is dominant during the forecast period from 2018 to 2023?
- What is the revenue generated by the different end users and applications of the biomimetic technology market with the growth rate of all segments?
- What are the major market drivers, challenges, and opportunities in the global biomimetic technology market?
- How is the competitive landscape shaping the global biomimetic technology market?
- Who are the key players in the market, along with their detailed analysis & profiles (including their financials, company snapshots, key products & services, and SWOT analysis)?