The biomaterials have wide range of applications into dental, cardiovascular, orthopedic, wound healing, neurology and surgery among others. The cardiovascular segment contributed on a large basis to the global biomaterials market followed by orthopedic segment. Owing to the developments, changing lifestyles of people, the other segment such as plastic surgery and wound healing segments are expected to show highest growth in near future.
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The key segments for biomaterials market are North America, Asia Pacific, Europe and Rest of the World (RoW) among others. North America is expected to grow at a faster rate owing to the increase in aging population who account for major consumption of biomaterials. The increasing investments made by the government in biomaterials market in the region is also a factor among others that contribute to growing demand for biomaterials. In addition, Asia Pacific is expected to follow North America in terms of growth due to the rising awareness for biomaterial products. Increased collaborations and conference also is expected to fuel demand for biomaterials in Asia Pacific.
Recent researches on biomaterials applications include cardiovascular biomaterials and analysis of hemocompatibility and biocompatibility. Moreover, the other research areas include polymeric surface coatings for sensors and implants and research in nano scale orthopedic biomaterials and hard or soft biomechanics. Therefore, continuous improvements are made to understand the interaction of body parts with implanted materials that has led to the progress of biomaterials from the use of any other alternative that was surgically available to use of materials which were deemed biocompatible.
Improper reimbursement facilities and lack of tissue availability are the major factors that are expected to restrain the growth of biomaterials market. In addition, high research and development costs could pose a threat to the growth of the market.
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The key players in the biomaterial market are: Angiotech Pharmaceuticals Inc., Biomet, Inc. (U.S.), Berkeley Advanced Biomaterials, Inc. (U.S.), DePuy Orthopaedics, Inc. (U.S.), DENTSPLY International, Inc. (U.S.), Orthovita, Inc. (U.S.), Wright Medical Group, Inc. (U.S.), Invibio Ltd. (U.K.), Cam Bioceramics BV, AdvanSource Biomaterials Corp.
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