Global Biomaterials Market was valued US$ 70.98 Bn in 2017 and is expected to reach US$ 251.28 Bn by 2026, at a CAGR of 17.12 % during a forecast period.
The biomaterials market is segmented into the type of material, application, and region.
Further, the global biomaterials market based on a type of material includes metallic, ceramic, polymers, and natural. In terms of application, the global biomaterials market is classified into cardiovascular, orthopedic, dental, plastic surgery, wound healing, neurology, tissue engineering, and ophthalmology.
Based on regions, the global biomaterials market is divided into five main regions are America, Europe, Asia-pacific, Latin America and Middle East & Africa.
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Biomaterials are broadly used in drug delivery as capsules or Nano-shells. Generally, they are biodegradable as well as bioresorbable so that they can disappear from the organism after completing their function. Biomaterials are natural or synthetic in nature and regardless of their origin, they are compatible to be used in place of living tissues.
On the basis of type of material, the metallic biomaterials segment is expected to account for the largest share of the global market owing to their unique properties such as biocompatibility, strength, and resistance to breakage, which makes them suitable for usage in various medical applications such as orthopaedic, cardiovascular, wound healing, and dentistry. The polymeric biomaterials segment is projected to grow at the highest CAGR during the forecast period due to the increasing use of polymers in soft tissue applications such as plastic surgeries.
Based on application, the Orthopedic disorder is the largest application segment of the biomaterial market, owing to the increase in the number of orthopedic surgeries using implants, which are used in various orthopedic procedures, such as orthobiologics, bioresorbable tissue fixation products, joint replacements, spine implants, visco-supplementation, and nonconventional modular tumor implants.
The major driving factor of the global biomaterials market is rising geriatric population, cardiovascular diseases on rising side of index, advancements in medicinal innovation, government interests in research and development of biomaterials, demand for implant devices increasing, biomaterials in wound healing technology and plastic surgery in high demand, and knee and hip replacement surgeries are increasing.
Strict rules and regulations in medical fields and unsuitable medical reforms in healthcare sectors are hampering the growth of the biomaterial market.
On the basis of region, North America is expected to account for the largest share of the global market due to rising biomaterial-based research, increasing demand for plastic surgeries, increasing conferences on biomaterials, growing cancer incidence, and the rising prevalence of cardiovascular diseases are expected to drive market growth in this region.
Asia-Pacific region is expected to witness the highest growth market due to rising cosmetic and plastic surgeries in India, lucrative medical device industry and new tax policy in China, the growing number of cardiovascular diseases, increasing aging population, and rising volume of hip and knee replacement procedures in this region.
The major key player of global biomaterials market are Royal DSM, BASF SE, Corbion N.V., Covestro, Invibio Ltd., Carpenter Technology Corporation, Evonik Industries AG, Berkeley Advanced Biomaterials, Inc., CAM Bioceramics BV, Celanese Corporation, Wright Medical Technology, Inc., Zimmer Biomet Holdings, Inc., Bayer AG, and Collagen Matrix.
The scope of Global Biomaterials Market:
Global Biomaterials Market, by Type of Material:
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Global Biomaterials Market, by Application:
• Plastic Surgery
• Wound Healing
• Tissue Engineering
Global Biomaterials Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
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Key players operated in Global Biomaterials Market:
• Royal DSM
• BASF SE
• Corbion N.V.
• Invibio Ltd.
• Carpenter Technology Corporation
• Evonik Industries AG
• Berkeley Advanced Biomaterials, Inc.
• CAM Bioceramics BV
• Celanese Corporation
• Wright Medical Technology, Inc.
• Zimmer Biomet Holdings, Inc.
• Bayer AG
• Collagen Matrix.