Increasing prevalence of chronic diseases such as cardiovascular diseases, orthopedic disorders, hike in the geriatric population, and significant technological advancements in the biomaterials industry are expected to drive the growth of the Biomaterials market in the forecast period.
Market Size – USD 108.6 Billion in 2019, Market Growth – CAGR of 14.8%, Market Trends– Advancements in Biomaterials platform and improved regulations for surgical procedures.
According to the current analysis of Reports and Data, the global Biomaterials market was valued at USD 108.6 Billion in 2019 and is expected to reach USD 296.40 Billion by 2027 at a CAGR of 14.8%. A biomaterial is a substance or blends other than drugs that are derived from synthetic or natural sources. According to the U.S. National Institute of Health, such materials can be utilized whenever to substitute absolutely or incompletely any organ, tissue, or body function to improve individual life. Moreover, these can be useful in different advanced medical technologies such, plastic surgery, drug delivery devices, tissue engineering, and other medical implants. For instance, Metallic biomaterials are generally utilized in orthopedic procedures for bone support and replacement, as they are durable and resistant to weakness corruption. They are used in dental, cardiovascular, and cosmetic surgeries. Moreover, metals are used in neuromuscular stimulation devices because of their excellent electrical conductivity, thus driving the growth of the market for the forecast period.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Berkeley Advanced Biomaterials, Royal DSM, Carpenter Technology Corporation, BASF SE, Corbion, Cam Bioceramics B.V., Celanese Corporation, CoorsTek Inc., CeramTec, Evonik Industries, and GELITA AG.
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Further key findings from the report suggest
- The significant market leaders are concentrating on the technological advancements for the biomaterials industry to outreach the maximum number of shares in the forecast period. For instance, In January 2019, ProMed Pharma and DSM Biomedical recently announced a business development partnership focused on polymeric drug delivery.
- Natural products have gained massive popularity as a source of novel bioactive substance for the development of novel drugs, prompting the fastest growth of this segment
- In November 2019, DiFusion Inc. gained FDA approval for Xiphos-ZF, a spinal interbody device, totally dependent on the other biomaterial Zfuze, a combination of poly-ether-ether-ketone and titanium.
- As of 2019, North America is anticipated to hold largest share is biomaterials market. This is due to the presence of open and private offices promoting biomaterial usage by facilitating occasions and funding initiatives
- Orthopedic application held the largest market share in the year 2019. The segment is additionally expected to grow at the rate of 14.6%, owing to it to the developing chronic diseases related to deformities related to bones and muscles. Expanding the incidence of chronic skeletal and musculoskeletal conditions is expected to raise the demand for biomaterials for orthopedics applications on a large scale.
- In November 2019, Mitsubishi Chemical, a Japan-based organization, consented to an agreement with AdvanSource Biomaterials, which is U.S.-based, to acquire their thermoplastic polyurethane elastomer business.
- In January 2019, DSM Biomedical partnered with ProMed Pharma to control its biomedical biomaterials with ProMed’s micro molding and extrusion capabilities to produce novel controlled-release drug implants and corresponding combination devices.
Segments Covered in the report
Types Outlook (Revenue in Million USD; 2017- 2027)
- Calcium Phosphate
- Aluminium Oxide
- Calcium Sulfate
- Gold and silver alloys
- Cobalt-Chrome Alloy
- Titanium and its alloys
- Stainless Steel
- Silicon Rubber
- Acrylic Glass
- Polyvinyl Chloride
- Collagen and Gelatin
- Hyaluronic Acid
Applications Outlook (Revenue in Million USD; 2017- 2027)
- Implantable Cardiac Defibrillators
- Vascular Grafts
- Synthetic Corneas
- Occular Tissue Replacement
- Joint Replacement Biomaterials
- Spine Biomaterials
- Plastic Surgery
- Soft Tissue Fillers
- Bioengineered Skins
- Facial Wrinkle Treatment
- Craniomaxillofacial Surgeries
- Peripheral Nerve Repair
- Acellular Dermal Matrices
- Shunting Systems
- Cortical Neural Prosthetics
- Hydrogel Scaffold for CNS repair
- Neural Stem Cell Encapsulation
- Tissue Engineering
Key Regions Analyzed in the Report include:
- North America
o Rest of Europe
- Asia Pacific
o South Korea
o Rest of APAC
- Latin America
o Rest of LATAM
- Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of MEA
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Furthermore, it consists information about individual segment of the Biomaterials market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Key Benefits of the Report:
- Comprehensive overview of the changing dynamics of competitive landscape
- Detail oriented futuristic prospects of factors driving and restraining growth of the market
- Valuable insights on key market growth driving trends and monetary competence in the forecast period
- Strategic recommendations to key players and new entrants to overcome barriers and challenges in the market
- Revenue forecasts for the period of 2021-2027
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