Biomaterials Market Overview:
The global biomaterials market is estimated to reach $139 by 2022, growing at a CAGR of 11.8% from 2016 to 2022. Metallic biomaterials segment is expected to contribute significantly to the global market revenue until 2022. North America held the leading position in the global market in 2015, and is expected to maintain its lead throughout the study period.
Biomaterials are artificially derived synthetic or natural materials that are used in medical technology to improve the functionality of damaged tissues and organs. These biomaterials are used to interact with biological systems for medical purposes and treatments of cardiovascular, dental, orthopedic, and neurological disorders. Moreover, biomaterials science can be implemented in various advanced medical technologies such, tissue engineering, plastic surgery, drug delivery devices, and other medical implants. Biomaterial applications are finding prominence in the research on biomed engineering, biomineralization, and biomolecules.
Increase in geriatric population, high prevalence of cardiovascular, neurological, & orthopedic disorders, and heavy funding by government organizations to launch new products, increase awareness regarding the advantages of biomaterials products, increase production of implantable products, and advancements in medical technology are the key drivers of the market. The growth of the market is hindered by factors, such as high cost of biomaterial production, occurrence of inflammatory responses due to compatibility issues, and complications associated with the use of these products.
BIOMATERIALS MARKET, SEGMENTATION
The report analyzes the biomaterials industry based on type, namely, metallic, polymeric, ceramic, and natural types. Metallic biomaterials are further segmented into stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, and silver type. Polymeric biomaterials are further divided into polymethyl methacrylate (PMMA), polyethylene, polyester, polyvinylchloride, silicone rubber, nylon, and polyetheretherketone. Ceramic biomaterials are further segmented into calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon, and glass. Natural biomaterials include hyaluronic acid, collagen & gelatin, fibrin, cellulose, chitin, alginates, and silk. The market is segmented based on application into cardiovascular, dental, orthopedic, wound healing, plastic surgery, ophthalmology, tissue engineering, neurological disorders, and drug-delivery systems. The report includes the revenue generated through sales in these aforementioned segments of the market.
TYPES OF BIOMATERIALS
Metallic biomaterial segment presently dominates the global market, whereas polymeric biomaterial segment is projected to grow rapidly during the forecast period. Metallic biomaterials are widely used in orthopedic procedures for bone support and replacement, as they are strong and resistant to fatigue degradation. They are used in dental, cardiovascular, and cosmetic surgeries. Moreover, metals are used in neuromuscular stimulation devices due to their good electrical conductivity.
GLOBAL FIBRIN MARKET SIZE, 2014-2022, ($MILLION)
Orthopedic disorder is the largest application segment of the biomaterial market, owing to the increase in the number of orthopedic surgeries using implants. Biomaterials are used for developing orthopedic 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.
TOP IMPACTING FACTORS OF GLOBAL BIOMATERIALS MARKET
The global biomaterials market size is driven by factors including an increase in geriatric population who are susceptible to diseases, such as cardiovascular, dental, orthopedic, and neurological conditions. Biomaterials are extensively used in hip and knee replacement surgeries. The high demand for implantable devices has boosted the market growth. These implantable devices are widely used in chronic degenerative diseases, such as orthopedic ailments and cardiovascular disorders.
Technological advancement in medical technology, such as development of smart biomaterials and improving healthcare infrastructure fuel the market growth. Government and private initiatives have increased awareness regarding biomaterials application and increased incidence of neurological disorders; thereby, driving the market growth in the Asia-Pacific region. However, high cost associated with biomaterial production, abrasive wear of implantable products, and biocompatibility issues with the products hamper the market growth.
The report provides comprehensive analysis of the key players operating in the global biomaterials industry, which include Royal DSM, Wright Medical Technology, Inc., Corbion N.V., Zimmer Biomet Holdings, Inc., Bayer AG, Carpenter Technology Corporation, Technologies Ltd., Evonik Industries AG, BASF SE, Invibio Ltd., and Collagen Matrix. The report presents competitive study of the market by analyzing market shares and position of major players, recent strategic moves, and detailed profiles of these players.
BIOMATERIALS MARKET KEY BENEFITS
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global biomaterials industry.
- In-depth analysis of the market is based on market estimations of key market segments for the period of 20142022.
- This study analyzes the competitive landscape and value chain to understand the competitive scenario across the geographies.
- The report provides region-wise and country-wise analysis of the biomaterials market share.
- The market scenario is comprehensively analyzed with respect to the type, and application.
BIOMATERIALS MARKET KEY SEGMENTS
- Stainless Steel
- Titanium & Titanium Alloys
- Cobalt-Chrome Alloys
- Polymethylmethacrylate (PMMA
- Silicone Rubber
- Calcium Phosphate
- Aluminum Oxide
- Calcium Sulfate
- Hyaluronic Acid
- Collagen & Gelatin
- Wound Healing
- Plastic Surgery
- Tissue Engineering
- Neurological Disorders
- Drug-Delivery Systems
- North America
- United Kingdom
- Latin America, Middle East and Africa (LAMEA)
- Saudi Arabia
- Republic of South Africa