The demand metals, polymers, ceramics, and natural origin biomaterials has significantly increased since these have proven to be safe, affordable, and reliable. Increasing geriatric population worldwide has led to growing incidences of diseases such as arthritis and osteoporosis. Moreover, the aging people are also more prone to accidents and injuries, which has increased the demand for graft transplant surgeries and medical implants. This in turn will drive the biomaterials market. The medical implants market is propelled to counter the increasing morbidity among the elderly population, thereby propelling the biomaterials market. Technological advances introduced in the medical and healthcare industry has led to improved functionality and efficiency of medical implants and its associated procedures. This has contributed significantly to the growth of the biomaterials market. The research report segments the biomaterials market on the basis of material types which is further divided as per applications of these biomaterials for various medical conditions. In 2012, metal type biomaterials held the largest market share in the biomaterials market.
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According to a recent market research report published by Transparency Market Research, the global biomaterials market is expected to expand at a CAGR of 4.1% during the period between 2013 and 2019. The report, titled “Biomaterials Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” projects the global biomaterials market to reach a valuation of US$33.6 bn by 2019. The overall market was worth close to US$25.3 bn in 2012.
In 2012, North America held the majority share in the global biomaterials market followed by Europe. These two regions together account for more than 80% of global biomaterials market and are expected to retain their position throughout the forecast period 2013 to 2019. Large number of medical implant procedures carried out in the developed nations such as the U.S., Canada, U.K., Germany, and France has been the major driver for growth of biomaterials market in North America and Europe. In Asia-Pacific region, Japan, South Korea, Australia and New Zealand are the major markets for biomaterial due to the increasing adoption of medical implant procedures in these countries. Additionally, these countries demand advanced biomaterials compared to other small developing countries in the region. However, biomaterial manufacturers view emerging countries such as China, India and Malaysia as lucrative markets due to underserved medical implants market, large patient base and high population in these nations. In Rest of the World (RoW), countries such as Brazil and South Africa are the prominent markets for biomaterials where noteworthy growth is expected in the coming years.
Biomet, Inc., AdvanSource Biomaterials Corporation, Celanese Corporation, Ceradyne, Inc., Collagen Matrix, Inc., DuPont, Royal DSM, Evonik Industries AG, Corbion Purac, and Invibio, Inc. are some of the major companies operating in the global biomaterials market for implantable devices.