Increasing occurrences of chronic disorders like orthopedic disorders and cardiovascular diseases, increase in the elderly population, and modern advances in the biomaterials industry are the key factors driving the growth of the biomaterials market.
Market Size: USD 108.6 billion in 2019, Market Growth: CAGR of 14.8%, Market Trends: Advances in biomaterials industry and favorable rules for surgical procedures.
The global biomaterials market is predicted to rise from USD 108.6 billion in 2019 to USD 296.40 billion by 2027, with a significant CAGR of 14.8%.
A biomaterial is a substance that is derived from natural or synthetic sources. According to the U.S. National Institute of Health, such material can be used whenever any organ or tissue is replaced entirely or incompletely to enhance individual life. Additionally, they can be used for some applications such as plastic surgery, tissue engineering, drug delivery, and various medical implants. For example, metallic biomaterials are used in orthopedic procedures for bone replacement and support. They find applications in cosmetics and cardiovascular surgeries.
The rising geriatric population, increasing cardiovascular, orthopedic disorders, and neuromuscular stimulations are fueling the market for biomaterials market. Technologically advanced in the biomaterial industry, growing awareness about implantable devices, and demand for better aesthetics are boosting the growth of the biomaterials market.
Factors such as the high production cost of biomaterials and problems associated with product incompatibility due to infections can decrease the market demand for biomaterials.
Key market players:
- Berkeley Advanced Biomaterials
- Royal DSM
- Carpenter Technology Corporation
- BASF SE
- Cam Bioceramics B.V.
- Celanese Corporation
- CoorsTek Inc.
- Evonik Industries
- GELITA AG
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Further key findings:
- The leading market players are focusing on the advanced technologies in the biomaterials sector. For example, ProMed Pharma partnered with DSM Biomedical in January 2019 for polymeric drug delivery.
- DiFusion Inc. obtained FDA approval in November 2019 for Xiphose-ZF, a spinal interbody device fully dependent on another biomaterial ZFuze.
- In context to type, the natural products sub-segment has gained immense popularity for developing novel drugs that are promoting the fastest growth of the segment.
- Based on application, the orthopedic sub-segment led the market for biomaterials in 2019 and is predicted to rise at a CAGR of 14.6% due to increasing chronic diseases associated with bones and muscles. The rising chronic musculoskeletal and skeletal conditions due to the growing need for biomaterials for orthopedics.
- North America held the largest market revenue in 2019 due to various initiatives undertaken by some public and private sectors. Several leading players in this region and promising government policies are increasing the demand for the biomaterials market in the North American region.
- The market in the Asia Pacific region is expected to expand with the highest CAGR during the projected period. Factors such as the rising geriatric populace, rising cases of cardiovascular diseases, plastic and cosmetic surgeries, along with augmented research activities are contributing to the expansion of the biomaterials market in the Asia Pacific region.
- Europe occupied around 32.3% of the market share in 2019 and a CAGR of 14.1% during the projected period.
Biomaterials Market Size, Share, Analysis By Type (Metallic, Natural, Ceramic, Polymeric), By Application (Cardiovascular, Ophthalmology, Orthopedic, Plastic Surgery, Neurology), And Region, Forecasts To 2027, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/biomaterials-market
For the purpose of this report, Reports and Data has segmented the Global Biomaterials Market on the basis of type, application, and region:
Type Outlook (Revenue in USD Million; 2017- 2027)
- Titanium and its alloys
- Gold and silver alloys
- Stainless Steel
- Cobalt-Chrome Alloy
- Aluminum Oxide
- Calcium Sulfate
- Calcium Phosphate
- Acrylic Glass
- Silicon Rubber
- Polyvinyl Chloride
- Collagen and Gelatin
- Hyaluronic Acid
Application Outlook (Revenue in USD Million; 2017- 2027)
- Occular Tissue Replacement
- Synthetic Corneas
- Hydrogel Scaffold for CNS repair
- Neural Stem Cell Encapsulation
- Cortical Neural Prosthetics
- Shunting Systems
- Joint Replacement Biomaterials
- Spine Biomaterials
- Implantable Cardiac Defibrillators
- Vascular Grafts
- Acellular Dermal Matrices
- Facial Wrinkle Treatment
- Soft Tissue Fillers
- Craniomaxillofacial Surgeries
- Bioengineered Skins
- Peripheral Nerve Repair
By Region (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Biomaterials Segmentation & Impact Analysis
4.1. Biomaterials Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Rapid Growth in the Geriatric Population
22.214.171.124. Rising Innovation in Biomaterials Products
126.96.36.199. Increased Incidence of Diabetes & Associated Chronic Wounds
4.2.3. Market restraints analysis
188.8.131.52. High cost of products for Biomaterials
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Chapter 5. Biomaterials Market By Product Type Insights & Trends
5.1. Product Type Dynamics & Market Share, 2020 & 2027
5.2. Moist Wound Dressings
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Biomaterials Market Size, Share, Analysis By Type, By Application, And Region, Forecasts To 2027
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