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Bioinspired Materials Market

Bioinspired Materials Market

Bioinspired Materials Market Analysis by Materials (Biomimetic Polymers, Biomimetic Ceramics & Glass, Biomimetic Metals & Alloys), by Application (Medical, Automotive, Defence, Electronics) & Region - Global Forecast 2022-2032

Bioinspired Materials Market
FACT7427MR

Bioinspired Materials Market Outlook

The global sales of the Bioinspired Materials in 2021 was held at US$ 40.1 Bn. With 5.7%, the projected market growth during 2022 - 2032 is expected to be slightly lower than the historical growth.

Revenue through Medical application is expected to be the highest revenue generator, with a projected CAGR of over 7% during 2022 – 2032.

Market Analysis

Values

Bioinspired Materials Market CAGR (2022-2032)

5.7%

Bioinspired Materials Market Size (2022)

US$ 42.4 Bn

Bioinspired Materials Market Size (2032)

US$ 73.6 Bn

Revenue of Bioinspired Materials Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Bioinspired Materials Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Bioinspired Materials Market increased at around 5.9% CAGR.

Over the projected period, the worldwide market for Bioinspired Materials is predicted to grow at 5.7% CAGR. The market is expected to be driven by rising demand for pharmaceuticals, robotic systems, information technology, telecom, and the auto sector.

In terms of their characteristics, Bioinspired Materials are intelligent and dynamic, with a wide range of extrinsic and intrinsic features that help in their adaptability to changing environmental circumstances. These adaptive changes are triggered by the chemical composition of these components. This broadens the spectrum of products that might be used in robotics and surgical implants. Several companies use Bioinspired Materials as they can endure a wide range of pressure and heat.

Biomimetics is built on the notion that the environment is the best model for creating new things, and it has resulted in outstanding productivity and functionality. This notion has also resulted in real gains in terms of waste reduction and research expense reduction. Biomimetics has facilitated and enhanced human existence through a variety of useful items based on designs derived from creatures.

Biomimetics will have a significant influence in the future when it comes to treating illnesses, physical impairments, and wounds by combining medicine, science, and biomedical engineering. In order to solve challenges, next-generation biomimetics blends biology with other technologies. Nanotechnology, for instance, is emerging as a vital subject that will be used to better understand materials and their structures, as well as to speed up the creation of secondary structures in proteins.

  • Bioinspired Materials Market was valued at US$ 40.1 Bn in 2021. According to Fact.MR, Bioinspired Materials Market revenue is projected to increase by 1.7X between 2022 and 2032, reaching roughly US$ 73.6 Bn in 2032.
  • Biomimetic revenue through medical applications accounts for the highest projected CAGR of over 7%.
  • In terms of Materials, Revenue through Biomimetic Ceramics & Glass accounts for the highest CAGR of 6.4% during the projected period (2022-32).
  • US is the dominant region in the Bioinspired Materials Market with an absolute dollar growth opportunity of over US$ 10.3 Bn.

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What Factors are Propelling Bioinspired Materials Demand?

The increase in popularity for Bioinspired Materials, mostly from research in nanotech, automation, health care industry, automation, and weapons, is propelling the global market for Bioinspired Materials. Technical advancements and R&D in the sector of highly efficient Bioinspired Materials, on the other hand, are likely to provide excellent growth opportunities for leading Bioinspired Materials market participants in the coming years.

Biomimetics might be employed in the future as a method of innovation that seeks long-term answers to human problems by replicating nature's tried-and-true patterns and techniques, hence generating demand.

The high cost of manufacturing Bioinspired Materials, on the other hand, is a significant hindrance to the market's growth.

Which Region is projected to Offer the Largest Opportunity for Bioinspired Materials Market?

In 2021, North America held the largest share of 44% in the global Bioinspired Materials Market. This is due to the region's large customer base and presence of key players. Moreover, the growing application of Bioinspired Materials in industries such as medicine, architecture, electronics, and informatics is anticipated to spur the Bioinspired Materials market in North America over the forecasted timeframe.

Due to the growing defense, medical and construction expenditure in North America, the demand for Bioinspired Materials like Biomimetic ceramic and glasses, metals, and alloys will be extensively used. North America holds around 34% of the global Bioinspired Materials market share. The growing regional expenditure in the defense and medical sector makes it the largest procurer of Bioinspired Materials.

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Country-wise Analysis

Which Country Lies at the CenterStage for Bioinspired Materials Market Revenue?

The United States is expected to account for the highest market value of US$ 24 Bn by the end of 2032. The presence of prominent market players such as APC International, CTS Corporation, and Applied Biomimetic, as well as an increase in the aging population, are significant factors pushing the growth of Bioinspired Materials in the country.

Category-wise Insights

Why Medical Application is projected to Witness the Fastest Growth?

Bioinspired Materials revenue through medical application is forecasted to grow at the highest CAGR of over 7% during 2022-2032. Several biomimetics applications in medical sector such as dentistry, urology, cardiology, optometry, and others could boost market size growth.

Owing to the growing aging population and the rising frequency of neurological, cardiovascular, and orthopedic illnesses, the medical biomimetics sector will rise at a fast pace. Technological advancements in the healthcare industry is another element driving the biomimetic materials market growth.

Recent advancements in nanotechnology have demonstrated dynamic biomimetic activity and have the ability to illustrate single cells with tremendous output. Throughout the projection timeframe, the rising prevalence of organ failure and the growing aging population will boost the medical biomimetics market share.

Which Component of Bioinspired Materials is expected to Score Highest Growth in the Coming Years?

Biomimetic Ceramics & Glass commanded the largest revenue as well as a CAGR of nearly 6.4%, during the forecast period. Dental and bone implants made of ceramics are increasingly widely utilized in medicine. Bioceramic coatings are routinely used on joint replacements to minimize wear and inflammation.

Bioceramics are also used in pacemakers, renal dialysis machines, and respirators, among other medical applications. In 2021, the global demand for medical ceramics and ceramic components was estimated to be at US$ 22.4 Bn. Owing to their properties like hardness and resistance to damage, they are extensively used in dental bridging.

Bioglass is commonly used in bone grafting biomaterials, periodontal defect repair, cranial repair, critical care, internal bleeding reduction, circulatory regeneration stimulation, and nerve repair. It disintegrates and can help the natural bone heal itself.

As a result, it is a well-suited solution for tissue engineering applications. Despite its brittleness, it is still widely utilized to promote bone formation, owing to new types of bioactive glasses based on borate and borosilicate compositions.

What is the impact of Covid-19 on the Bioinspired Materials Market?

The Covid-19 pandemic-related lockdown has led to a temporary prohibition on imports and export, interrupting the supply chain and hampering the growth of the Bioinspired Materials industry in 2020. However, the market began to improve in the second quarter of 2021 when biomimetic material production resumed and other industrial operations began.

The pandemic has not only hampered the growth of automotive, defense, and electronics, but also medical biomimetics. Taxation of imports of medical biomimetic products and restrictions on the production of active pharmaceutical components had jeopardized downstream healthcare services and medical equipment manufacturing.

However, in the post-pandemic scenario, the situation has improved, leading to an increase in the number of vehicles produced, especially the number of electric vehicles which have grown exponentially. In the recent past, owing to cold wars between some of the neighboring countries across the globe, the demand for defense equipment has spiked. This has influenced the demand for Bioinspired Materials, directly or indirectly.

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Competitive Analysis

Players in the Bioinspired Materials market are constantly developing their existing product offerings. To help chemical and material organizations implement cost-effective solutions and preserve competitive advantage in the market, the companies are focusing on alliances, technology collaborations, and product launch strategies.

Some of the recent developments of key Bioinspired Materials providers are as follows:

  • In April 2022, CTS Corporation has paid US$ 74.4 Mn in cash to buy Ferroperm’s authorized share capital, subject to some terms and conditions. Ferroperm is recognized for its cutting-edge piezoceramic technology and high-quality products. Ferroperm has amassed a sizable clientele in Europe and North America. Ferroperm's use in medical treatments complements their current competence in medical imaging and diagnostics, which will enhance the demand for biomimetics or biomimicry in the future.
  • In April 2022, Spartan Radar announced that it has raised a total of US$ 25 Mn in Lidar technology. The shift in automobile sector toward lower degree of automation makes radar more appealing than Lidar. The company's product which is called Biomimetic Radar promises to be able to emulate human vision processes for improved attention and context. It claims that its algorithms significantly speed up processing and eliminate radar's historical flaws, such as low resolution and erroneous detections.
  • In January 2021, with its move to Gaithersburg, Maryland, Applied Biomimetic Inc., a provider of convergence of polymer and protein-membrane technologies, announced that it has relocated and expanded its headquarters, laboratory, and production. They will be able to significantly increase their manufacturing arena with the new facility.
  • In September 2021, Pixium Vision SA, a bioelectronics company that created revolutionary biomimetic vision systems to enable blind people to live more independently, has completed the first PRIMAvera critical phase implantation in Germany. The Federal Institute for Drugs and Medical Devices in Germany approved the PRIMAvera research as the final step toward European market authorization.

Similarly, recent developments related to Bioinspired Materials services have been tracked by the team at Fact.MR, which are available in the full report.

Bioinspired Materials Market Report Scope

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

US$ Bn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel.

Key Market Segments Covered

  • Materials
  • Application
  • Region

Key Companies Profiled

  • APC International  
  • CeramTec    
  • CTS Corporation    
  • Kyocera Corporation       
  • Lord Corporation  
  • Noliac AS     
  • Piezo Kinetics         
  • TDK Corporation   
  • Wright Medical Group     
  • Applied Biomimetic          

Pricing

Available upon Request

Market Segments Covered in Bioinspired Materials Market Analysis

  • By Material :

    • Biomimetic Polymers
    • Biomimetic Ceramics & Glass
    • Biomimetic Metals & Alloys
    • Others Materials
  • By Application :

    • Medical
    • Automotive
    • Defence
    • Electronics
    • Other Applications
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- FAQs -

The global Bioinspired Materials Market is worth more than US$ 40.1 Bn at present.
The value of the Bioinspired Materials Market is projected to increase at a CAGR of around 5.7% during 2022 – 2032.
The value of the Bioinspired Materials Market increased at a CAGR of around 5.9% during 2017 – 2021.
The rise in demand for Bioinspired Materials from a variety of end-use sectors, as well as the advancement of technology in the healthcare sector and the rapid advancement of artificial intelligence and automation, are some of the key trends that are push
The market for Bioinspired Materials Market share in China is projected to expand at around 8.4% during 2022 – 2032.
While the market in South Korea is expected to have market share of nearly 6%, the market in Japan is projected to register a market share of 5.4% during 2022 - 2032.

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