The global healthcare bioconvergence market was valued at USD 111.9 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2032.
Key Pointers
- The drug discovery segment dominated the market with a revenue share of 20.2% in 2022,
- The regenerative medicine segment is expected to expand at a CAGR of 8.7% during the forecast period,
- Europe dominated the healthcare bioconvergence market with a revenue share of 29.8%,
- Asia Pacific is anticipated to witness the fastest growth rate of 8.0% during the forecast period,
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Report Scope of the Healthcare Bioconvergence Market
| Report Attribute | Details |
| Market size value in 2022 | USD 111.9 billion |
| Revenue forecast in 2032 | USD 2,371.47 billion |
| Growth rate | CAGR of 7.8% from 2023 to 2032 |
| Base year for estimation | 2022 |
| Actual estimates/Historic data | 2019 – 2021 |
| Forecast period | 2023 – 2032 |
| Quantitative units | Revenue in USD million and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors & trends |
| Segments covered | Application, region |
The significant market growth can be attributed to the increasing elderly population and the accelerating stem cell technology for the fixing of injured cells, tissues, and organs. The combination of high-tech advancements such as robotics, machine learning, ergonomics (relationship between individuals and their environment), and artificial intelligence (AI) along with biology and cloud computation is also expected to contribute to market growth in the coming years. Along with healthcare, bioconvergence helps in the improvement of various other sectors such as agriculture, energy, food, security, climate, and others. A few instances include hybrid biochemical components used during the establishment of operational 3D tissue cells for stem cell therapy, brain-computer interactions to study the root causes and precipitating activities of neurological diseases, bio-sensors & hybrid equipment for enhancing constant monitoring & diagnosis, and target-oriented delivery system in the delivery of drugs crafted of material science and nano-robotics.
Key Companies & Market Share Insights
key players operating in the global healthcare bioconvergence market include:
- BiomX
- Singota Solutions
- Anima Biotech Inc.
- Ginkgo Bioworks
- SetPoint Medical Corporation
- Zymergen Inc.
- Galvani Bioelectronics
- BICO – The Bio Convergence Company
Healthcare Bioconvergence Market Segmentations:
Application Outlook (Revenue, USD Million, 2022 – 2032)
- Drug Discovery
- Nanorobotics for Drug Delivery
- Regenerative Medicine
- Diagnostic and Biological Sensor
- Bioelectronics
- Engineered Living Materials
- Optogenetics
- Precision Medicine
Regional Outlook (Revenue,USD Million, 2022 – 2032)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Singapore
- Latin America
-
- Brazil
- Mexico
- Argentina
- Colombia
- Middle East & Africa
-
- South Africa
- Saudi Arabia
- UAE
- Israel
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