“During the projected period, the rise in AI-related activities and increase in the expenditures towards healthcare, defense and construction will shape Bioinspired Materials industry trends in the coming years.”
United States, Rockville, MD, June 15, 2022 (GLOBE NEWSWIRE) -- The Bioinspired Materials Market revenues were estimated at US $40.1 Bn in 2021 and is anticipated to grow at a CAGR of 5.7% during 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 73.6 Bn.
A study that combines Bioinspireds, robotics, and artificial intelligence, Bioinspired intelligence, and robotics, has yielded unique and fascinating discoveries as well as practical applications of Bioinspired Materials. The renowned ATLAS humanoid robot, for example, is created with state-of-the-art hardware and control systems, displaying human-level agility by replicating the human body shape. The popular neural network method, which simulates genuine biological neurons, is another good example. Face recognition, medical image processing are just a few examples of where it's been applied in artificial intelligence.
In order to resolve these challenges, next-generation Bioinspireds blends biology with other technologies. Nanotechnology, in particular, 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. Furthermore, Bioinspired techniques have the potential to open up new topics of study. Various hybrid composites inspired by nature have been produced and utilized as a template for tissue engineering to govern biological processes. Bones and nacres, for example, are built and structured in a hierarchical manner.
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Key Takeaways from the Market Study
Global Bioinspired Materials Market is expected to reach a market size of US$ 42.4 Bn by 2022.
Market revenue through medical applications is expected to grow with the highest CAGR of 7% during the forecast period.
North America remained the most dominant market with a market share of approximately 44% in 2021.
The market in Asia Pacific is set to experience the highest CAGR of 6.6% during 2022-2032.
The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Bioinspired Materials Market are focused on R&D to produce innovative technological solutions.
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 Bioinspireds or biomimicry in the future.
In September 2021, Pixium Vision SA, a bioelectronics company that created revolutionary Bioinspired 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.
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Market Segments Covered in Bioinspired Materials Market Analysis
By Material :
Biomimetic Ceramics & Glass
Biomimetic Metals & Alloys
By Application :
By Region :
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Fact.MR, in its new offering, presents an unbiased analysis of the Bioinspired Materials Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Bioinspired Materials Market across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
About the Chemical and Material Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Chemical and Material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the Bioinspired Materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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