LAMEA Healthcare Bioconvergence Market Size, Share & Industry Trends Analysis Report By Application (Drug Discovery, Precision Medicine, Regenerative Medicine, Diagnostic & Biological Sensors, Bioelectronics, Nanorobotics for Drug Delivery, Engineered Living Materials, and Optogenetics), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Healthcare Bioconvergence Market would witness market growth of 9.4% CAGR during the forecast period (2022-2028).
The term "healthcare bioconvergence" refers to the fusion of biology with other engineering fields such as Artificial Intelligence (AI), Machine Learning (ML), physics, chemistry, nanotechnology, electronics, computer science, advanced genetic engineering, and material science, all of which are intended to improve human health. The human body is very intricate and composed of many intricate systems.
Following a multidisciplinary and comprehensive strategy makes perfect sense in order to deliver an effective answer to treating the human body, which is precisely what bioconvergence enables innovators to do. Through its ground-breaking advances in therapy, regenerative medicine, diagnostics, and many other fields, Bioconvergence lays the road to attain this holistic route.
When it comes to genuine ideas, breakthroughs, and research, as well as company growth and funding opportunities, the healthcare industry has a lot of untapped potential thanks to this method of developing new goods and services. Drugs are delivered to targeted cancerous tissues using miniature delivery systems, avoiding collateral tissue damage.
The population of the Middle East is aging rapidly, and as age is the primary risk factor for cancer, its incidence and prevalence are rising among all the populations in the area. The national and community-based healthcare services are facing enormous problems as a result of these developments. As per the World Health Organization, one in five UAE adults and adults aged 18 and over are obese. These people, supported by relatively high-income levels, will need higher quality healthcare as the prevalence of lifestyle diseases rises.
The Brazil market dominated the LAMEA Healthcare Bioconvergence Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,088.8 million by 2028. The Argentina market is exhibiting a CAGR of 10% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 9.2% during (2022 - 2028).
Based on Application, the market is segmented into Drug Discovery, Precision Medicine, Regenerative Medicine, Diagnostic & Biological Sensors, Bioelectronics, Nanorobotics for Drug Delivery, Engineered Living Materials, and Optogenetics. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BiomX, Inc., Singota Solutions, Anima Biotech Inc., Ginkgo Bioworks Holdings, Inc., SetPoint Medical Corporation, Galvani Bioelectronics, Ltd. (GlaxoSmithKline plc and Verily Life Sciences), and BICO Group AB (publ).
Scope of the Study
Market Segments Covered in the Report:
- Drug Discovery
- Precision Medicine
- Regenerative Medicine
- Diagnostic & Biological Sensors
- Nanorobotics for Drug Delivery
- Engineered Living Materials
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- BiomX, Inc.
- Singota Solutions
- Anima Biotech Inc.
- Ginkgo Bioworks Holdings, Inc.
- SetPoint Medical Corporation
- Galvani Bioelectronics, Ltd. (GlaxoSmithKline plc and Verily Life Sciences)
- BICO Group AB (publ)
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