The Latin America, Middle East and Africa Medical Biomimetics Market would witness market growth of 9.5% CAGR during the forecast period (2023-2029).
The market's need has grown as three-dimensional biomimetics models for controlled drug delivery are increasingly being used in developed economies. Devices with advanced biomimetics technology support the treatment of numerous illnesses. Companies engage in product development to create a robust product pipeline for drug delivery systems. The use of cutting-edge medical engineering technologies and vaccine delivery methods made possible by nanotechnology will boost market revenue. Additionally, there is an increase in the use of nanocarrier-based drugs delivered by biomimetic devices.
Rising R&D activities, as well as the expanding application potential of medical biomimetics, are predicted to drive expansion in the diagnostic imaging sector, which involves ultrasound and computed tomography scans. For instance, many educational institutes are developing a flexible, bioinspired steerable probe. In order to access deep brain regions with the least amount of damage, this research aims to accurately position minimally invasive instrumentation (electrodes, catheters for deep brain stimulation), micro neurosurgery, carry out clinical analysis and diagnosis (sampling, biopsy), and localized drug delivery.
The UAE's healthcare sector has significantly contributed to economic expansion in the last ten years. It has earned a reputation as one of the leading providers of healthcare services due to its state-of-the-art medical facilities. As a result, the medical tourism sector in the UAE is fast growing and producing well-known figures. As a result, the number of tourists coming to the nation for health tourism purposes is increasing yearly. Due to the high-quality healthcare facilities and government initiatives, the UAE is becoming a center for healthcare-based tourism, providing top solutions with no wait times. Hence, the increasing medical tourism sector in the region will provide medical biomimetics market growth opportunities as it can efficiently treat medical tourists visiting the region.
The Brazil market dominated the LAMEA Medical Biomimetics Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,140.8 Million by 2029. The Argentina market is exhibiting a CAGR of 10.1% during (2023 - 2029). Additionally, The UAE market would showcase a CAGR of 9.2% during (2023 - 2029).
Based on Disease Type, the market is segmented into Dental, Orthopedic, Ophthalmology, Cardiovascular and Others. Based on Application, the market is segmented into Wound Healing, Tissue Engineering, Drug Delivery and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Medical Biomimetics Market is Projected to reach USD 57.7 Billion by 2029, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Zimmer Biomet Holdings, Inc., BioHorizons, Inc. (Henry Schein, Inc.), SynTouch Inc., CorNeat Vision Ltd., Osteopore International Pte Ltd, Curasan, Inc., Otsuka Medical Devices Co., Ltd. (Otsuka Holdings Co. Ltd.), Swedish Biomimetics 3000 ApS, Keystone Dental Group and Blatchford Limited.
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