According to the report “Global Biomaterials Market,” published by Market Data Forecast, the global market is projected to reach USD 125.152 Billion by 2021, at a CAGR 14% from 2016 to 2021.Biomaterials are the combination of elements, artificial or naturally derived, used in medical applications for instance replacement of tissue and organ transplantation.
Advancements in medical technology have taken a hefty toll on plastic materials that are used in medical applications, which has been further worsened by developments in the fields of medical plastic, stainless steel /titanium metal replacement implant materials, being predominantly driven by concerns of biocompatibility, in addition to demand for superior implant mechanical performance.
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Global Biomaterials Market: Drivers & Restraints
Increased use of biomaterials is mainly attributed to the tremendous research on advancements in medical technology for the efficient functionality of medical implants. In addition, Increased government grants, investment and funding, and growing usage of polymer in biomaterials are some of the factors driving the growth for global biomaterials market. However, adverse reaction to biomaterial implants, strict regulatory requirements, inflammation and fracture issues, high cost associated with and difficulties in manufacturing are the major factors off-putting the growth for global biomaterials market.
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Global Biomaterials Market: Segmentation
By Material Type
- Plastic surgery
- Wound healing
- Tissue engineering
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Global Biomaterials Market: Overview
Biomaterials are the combination of elements is the fastest growth market in coming years and also due to the increasing number of geriatric patients, the demand for usage of biomaterials in cardiology, wound healing, neurology and plastic surgery is on a rise. Besides, new technologies such as hydrogen scaffolding and decellularized dermal matrixes for grafting will contribute to the market in growing at a healthy rate throughout the forecast period.
Polymers will have the fastest growth rate in the coming years owing to its increased applications in healthcare and distinct material properties. With persistent demand from geriatrics and rising incidence of ophthalmic disorders, the mainstream usage of polymers for ophthalmological purposes will surge in the next few years.
Global Biomaterials Market: Region-wise Outlook
Further, based on application, the market is segmented into orthopaedic, dental, cardiovascular, plastic surgery, wound healing, ophthalmology, tissue engineering, neurological /central nervous systems, and other applications which include drug delivery systems, bariatric surgery, gastrointestinal and urinary applications.
Key Questions Answered
- What is the industry growth forecast from 2016 to 2021?
- What is the current and future Biomaterials Market outlook worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Biomaterials space globally?
- What are the technology & innovation trends, how will they evolve by 2021 ?
- What are the key, high growth markets that Biomaterials manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Biomaterials currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Biomaterials?
- What are the challenges and barriers that have hindered widespread adoption of Biomaterials?
Global Biomaterials Market: Key Players
Some of the key players in the global biomaterials market include Royal DSM, Zimmer Biomet Holdings, Inc., Evonik Industries AG, Wright Medical Technology, Inc., Corbion N.V., Berkeley Advanced Biomaterials, Bayer AG, Carpenter Technology Corporation, Covalon Technologies Ltd., BASF SE, Invibio Ltd., Inc., CAM Bioceramics BV, and Collagen Matrix, Inc.
Reasons to buy Global Biomaterials Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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