The North America Healthcare Bioconvergence Market would witness market growth of 6.7% CAGR during the forecast period (2022-2028).
Traditional hardware systems in medical devices are being replaced by biological materials, intelligent machine learning, and AI-based software. New biomedical devices are created as a result of the fusion of bioengineering and medical technology. Although they are a few significant medical fields that profit from the use of Bioconvergence, gene therapy, regenerative medicine, and CAR-T are not the only ones.
Numerous fields of healthcare and biotechnology have undergone significant upheaval as a result of this strategy. By utilizing research models created to precisely foresee disease evolution in order to increase effectiveness and treatment precision, the pharmaceutical sector can also gain from this technology.
The expense of producing new pharmaceuticals can be reduced, and side effects can be reduced by testing them on simulated organs like the ones listed before. The development of diseases within the human body can be tracked using the modeled organs. Instead of evaluating the effects on lab animals, this will aid in the identification of effective pharmaceuticals for humans, speeding up the development process.
As per the Centers for Disease Control and Prevention, six out of ten Americans have a minimum of one chronic illness, such as diabetes, cancer, heart disease, or a stroke. These and other chronic illnesses are the main contributors to health care costs as well as the key causes of death and disability in the United States. In addition, heart disease is the number one killer of men, women, and members of the majority of ethnic and racial groups in the US. Cardiovascular disease claims one life in the US every 34 seconds.
The US market dominated the North America Healthcare Bioconvergence Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $38,715.8 million by 2028. The Canada market is poised to grow at a CAGR of 9.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.2% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Healthcare Bioconvergence Market is Estimated to reach $169.9 Billion by 2028, at a CAGR of 7%
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).
By Application
By Country
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