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A recent report published by Infinium Global Research on healthcare bioconvergence market provides in-depth analysis of segments and sub-segments in the global as well as regional healthcare bioconvergence market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional healthcare bioconvergence market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global healthcare bioconvergence market.
The healthcare bioconvergence market indicates how different scientific fields and technological advancements are combining in the healthcare sector to produce novel solutions. To enhance patient care, diagnosis, and therapies, it integrates disciplines for instance biology, medicine, computer science, and engineering. The market includes Artificial Intelligence, telemedicine, digital health, personalized medicine, and genomics. Healthcare bioconvergence, which combines several fields, strives to improve illness prevention, diagnosis, and treatment, resulting in better healthcare outcomes. The market for healthcare bioconvergence is propelled by the demand for more precise and focused patient healthcare solutions. It has an enormous opportunity to change the face of healthcare and enhance patient experiences.
There is a growing need for cutting-edge healthcare solutions that can address age-related diseases as the world's population continues to age. To meet the requirements of the aging population, bio-convergence technologies provide potential possibilities for customized medicine, regenerative therapies, and precision diagnostics. As per the World Health Organization, the percentage of people over 60 in the world would nearly double from 12% to 22% between 2015 and 2050. Refractive errors, back and neck discomfort, osteoarthritis, chronic illness, diabetes, and other disorders are prevalent in elderly people. Furthermore, the application of stem cells in regenerative medicine has grown in widespread adoption, offering potential remedies for diseases like cardiovascular diseases, neurological disorders, and tissue injuries. This use of stem cells stimulates bio-convergence solutions in the healthcare sector. The fusion of high-tech innovations such as biotechnology, nanotechnology, machine learning, genomics, and breakthroughs in life science is fueling the growth of the healthcare bioconvergence market. For instance, in developing countries for instance India Artificial Intelligence (AI) is already being integrated into the healthcare sector for the diagnosis and early detection of diseases. India increased its AI expenditure since 2018, making it a $665 million industry. It is expected to reach $11.78 billion by 2025, adding $1 trillion to India’s economy by 2035”. The growth and change of the healthcare bioconvergence market is being driven by this fusion of technology and life science. However, to encourage the widespread use of bio-convergence technologies, it is crucial to address the risks of data breaches, unauthorized access, and misuse of personal health information.
The global healthcare bioconvergence Market is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Among the regions, Europe is anticipated to dominate the healthcare bioconvergence market during the forecast period. There’s considerable growth in this region as Europe is predicted to be the fastest-growing region within the global market share. Due to several variables, Europe now retains the biggest market share for health bio-convergence. For instance, nations with strong pharmaceutical and biotech sectors and extensive R&D capacity include Germany, the United Kingdom, and Switzerland. The first corporations to develop bioconvergence technology were European firms like Roche, Novartis, and AstraZeneca.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 112.74 Billion |
| Market Size by 2030 | USD 232.57 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 8.3% |
| Largest Market | Europe |
| No. of Pages | 180 |
| Market Drivers |
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| Market Segmentation | By Application, and By End User |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global healthcare bioconvergence market covers segments such as application, and end user. On the basis of application, the sub-markets include drug discovery, nanorobotics for drug delivery, regenerative medicine, diagnostic and biological sensors, bioelectronics, engineered living materials, and others. On the basis of end user, the sub-markets include pharmaceutical & biotechnology industry, contract research organization, and others.
The report provides profiles of the companies in the market such as BiomX, Singota Solutions, Anima Biotech Inc., Ginkgo Bioworks, SetPoint Medical, Zymergen (acquired by Ginkgo), Galvani Bioelectronics, BICO, Abpred/Protein-sol, and Pangea Biomed.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the healthcare bioconvergence market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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