Healthcare Bioconvergence Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

Healthcare Bioconvergence Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global healthcare bioconvergence market provides qualitative and quantitative analysis for the period from 2021-2030. The global healthcare biconvergence market was valued at USD 112.74 billion in 2022 and is expected treach USD 232.57 billion in 2030, with a CAGR of 8.3% during the forecast period 2023-2030. The study on healthcare bioconvergence market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

The increasing aging geriatric population and growing utilization of stem cells for healing damaged tissues, and organs drive the Healthcare BiConvergence market. As per the World Health Organization, “It is projected that the number of individuals in the world whare 60 or older will reach up t2.1 billion by 2050. Between 2020 and 2050, the number of people 80 or older is projected treach 426 million”. Stem cells are cells with the potential tdevelop intmany different types of cells in the body. They serve as a repair system for the body. As the aging population is highly suffering from damaged cells and weak organs, the demand for stem cells increases.

The global healthcare biconvergence market is bifurcated by Application and By End User. By Application, the segment is further bifurcated intDrug Discovery, Nanorobotics for Drug Delivery, Regenerative Medicine, Diagnostic and Biological Sensors, Bioelectronics, Engineered Living Materials, and Others. The drug discovery segment is anticipated thave significant market growth during the forecast period. The growth of the segment is attributed tthe various benefits as drug discovery is required tprepare new drugs ttreat the symptoms of new diseases but alstprevent the spread of new diseases by vaccination. The drug development industry is impacted by the increased occurrence of diseases such as those that affect the central nervous system, cardiovascular problems, and infectious infections. As the market demand for drug discovery increases, pharmaceutical companies are alsintegrating recent technologies such as AI-based platforms treduce the time required for the drug discovery process. The increasing R&D activities alsinfluence the growth rate of the market, the expansion of biotechnology sectors alspropels the market of drug discovery segment during the forecast period.

The global healthcare biconvergence market is segmented intthe Asia Pacific, North America, Europe, the Middle East & Africa, and South America. North America is predicted tbe the dominating region within the global market share. A few of the factors influencing the expansion of the geriatric population are the rise in chronic diseases like cancer and the geriatric population. For instance, the American Cancer Society reports that in the U.S., there were 608,570 cancer deaths and approximately 1.9 million newly diagnosed cancer cases. Therefore, these issues have increased the need for healthcare biconvergence. Additionally, the region's dominant position is a result of its advanced healthcare infrastructure, significant investments in research and development, and a robust regulatory environment.

Report Findings

1) Drivers

The increasing aging population and growing utilization of stem cells for healing damaged cells, tissues, and organs drive the healthcare bioconvergence market.

Integration of high-tech technologies and advancement of life science propels the growth of the healthcare bioconvergence market.

2) Restraints

Adoption of technologies in healthcare is associated with risks such as cybersecurity and data privacy which can limit the growth of the health biconvergence market.

3) Opportunities

Increasing healthcare expenditure on technological advancement in emerging countries can lead tmarket expansion.

Research Methodology

A) Primary Research

Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include

1. Key Opinion Leaders associated with Infinium Global Research

2. Internal and External subject matter experts

3. Professionals and participants from the industry

Our primary research respondents typically include

1. Executives working with leading companies in the market under review

2. Product/brand/marketing managers

3. CXO level executives

4. Regional/zonal/ country managers

5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications

2. Government/institutional publications

3. Trade and associations journals

4. Databases such as WTO, OECD, World Bank, and among others.

5. Websites and publications by research agencies

Segment Covered

The global healthcare bioconvergence market is segmented on the basis of application, and end user.

The Global Healthcare Bioconvergence Market by Application

Drug Discovery

Nanorobotics for Drug Delivery

Regenerative Medicine

Diagnostic and Biological Sensors

Bioelectronics

Engineered Living Materials

Others

The Global Healthcare Bioconvergence Market by End User

Pharmaceutical & Biotechnology Industry

Contract Research Organization

Others

Company Profiles

The companies covered in the report include

BiomX

Singota Solutions

Anima Biotech Inc.

GinkgBioworks

SetPoint Medical

Zymergen (acquired by Ginkgo)

Galvani Bioelectronics

BICO

Abpred/Protein-sol

Pangea Biomed

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the healthcare bioconvergence market.

2. Complete coverage of all the segments in the healthcare bioconvergence market tanalyze the trends, developments in the global market and forecast of market size up t2030.

3. Comprehensive analysis of the companies operating in the global healthcare bioconvergence market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.

4. IGR- Growth Matrix presents an analysis of the product segments and geographies that market players should focus tinvest, consolidate, expand and/or diversify.