Impact of COVID-19: Biomaterials Market is projected to reach a value of over USD 262.5 billion by 2027 at a CAGR of around 11.8%.
Biomaterials Market: Summary
The Global Biomaterials Market is projected to reach a value of over USD 262.5 billion by 2027 at a CAGR of around 11.8%.
Biomaterials are natural or synthetic origin materials which are used as implants to substitute damaged tissue or organ improve its functionality. These materials are used to interact with the biological system for medical purpose and treatments of dental, cardiovascular, neurological, and orthopaedic surgery. Biomaterial applications are finding prominence in the research on biomed engineering, biomineralization, and biomolecules.
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Biomaterials Market: Drivers & Challenge
- Increasing Grants and Funds by Government Bodies and Universities for Development of Novel Biomaterials
Increase in generic population, high prevalence of cardiovascular, neurological & orthopaedic disorders, and increase in awareness regarding advantages of biomaterial products are some of the factors that surging the demand for the biomaterials in various medical applications. This has attributed to various government bodies and universities are extending their help in the form of grants and funds in order to promote research & development of novel biomaterials. For instance, in March 2018, the National Science Foundation was granted USD 200 million by Drexel University granted for research on how biomaterial mediated control over macrophage behavior affects biomaterial vascularization. Thus, increasing grants and funds by government bodies and universities for the development of novel biomaterials has expected to drive the growth of the market during the forecasted period.
- Limitation of Biomaterial-based Products
In spite of various advantages offered by biomaterials in the field of medical applications, there are some limitations associated with biomaterial-based products. For instance, the toughness and stability of bioceramics decrease at a particular temperature, which makes manufacturing difficult. Moreover, ceramic implants have a shorter life cycle as they undergo continuous loosening and dislocation. Likewise, metal polymers rust easily when exposed to harsh environments such as body acids and enzymes. Thus, limitations of biomaterials-based products are expected to hinder the product market up to some extent during the forecasted period.
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Biomaterials Market: Key Segments
- Segmentation based on Type: Metallic, Polymeric, Ceramic, and Natural.
- Segmentation based on Application: Cardiovascular, Orthopedic, Ophthalmology, Wound Healing, and Others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
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Key Companies Covered
- Evonik Industries AG (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- BASF SE
- Invibio Ltd
- CRS Holdings Inc.
- Zimmer Biomet
- Berkeley Advanced Biomaterials
- Covalon Technologies Ltd.
- Dentsply Sirona
- CoorsTek Inc.
- Collagen Matrix, Inc
- CeramTec GmbH
- Other Key Companies
Biomaterials Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Biomaterials Market, by Type
- Stainless Steel
- Titanium & Titanium Alloys
- Cobalt-Chrome Alloys
- Calcium Phosphate
- Aluminum Oxide
- Hyaluronic Acid
Biomaterials Market, by Application
- Joint Replacement
- Bioresorbable Tissue Fixation
- Contact Lenses
- Intraocular Lenses
- Synthetic Corneas
- Wound Healing
- Wound Closure Devices
- Surgical Hemostats
- Internal Tissue Sealants
Biomaterials Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
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Table of Content
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL BIOMATERIALS MARKET BY TYPE, Market Size in USD Million 2019–2027)
7 GLOBAL BIOMATERIALS MARKET BY APPLICATION, Market Size in USD Million (2019–2027)
8 GLOBAL BIOMATERIALS MARKET BY REGION, Market Size in USD Million & Volume in Kiloton (2019–2027)
9 Competitive Landscape
10 Company Profiles
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