MEDICAL BIOMIMETICS MARKET ANALYSIS

Market Challenges And Opportunities

Global Medical Biomimetics Market – Driver

The increasing incidence of chronic diseases

The increasing prevalence of chronic diseases such as cardiovascular diseases in developed and developing economies is predicted to propel the growth of the medical biomimetics market during the forecast period. For instance, according to the data provided by the Center for Disease Control and Prevention- a science-based, data-driven, service organization that protects the public's health in the U.S., on May 15, 2023, coronary artery diseases are among the most common type of heart disease in the U.S. because of which nearly 695,000 lives were lost in 2021.

Increased research and development activities

The increasing research and development activities to invent newer medical biomimetics can drive the growth of the global medical biomimetics market. For instance, in July 2020, Corneat Vision- a clinical-stage, biomimetic implants and technology company, received regulatory approval to begin a clinical trial of the CorNeat KPro, a synthetic cornea that bio-integrates with the eye wall at Beilinson Hospital in Israel.

Global Medical Biomimetics Market: Restraint

Product Recalls

The advent of recall of products from market circulation can restrain the growth of the global medical biomimetics market. For instance, in October 2022, F. Hoffmann-La Roche Ltd- a Switzerland-based biopharmaceutical company voluntarily recalled its new eye therapy Susvimo- an implant approved for wet age-related macular degeneration (AMD) that works by mimicking the structure of the cornea, after suspecting leakage fears.

Strict compliance with regulatory guidelines and adopting GMP can serve as an effective counterbalance against the above restraint.

Side effects and risk of biomimetic procedures

The side effects of engineering biomimetic dental and paradental tissues can restrain the growth of global medical biomimetics market. The most common side effect is sensitivity or general discomfort after a biomimetic restorative dentistry procedure. The risks of biomimetic dentistry include further tooth decay and a potential need to have a filling or other dental procedure redone.

This can be overcome by obtaining proper guidance from doctors, surgeons, or healthcare practitioners about the potential benefits and risks of biomimetic procedures.