The global biomaterials market was valued at $64,874 million in 2020 and is projected to reach $2,12,405.2 million by 2030, registering a CAGR of 12.7% from 2021 to 2030.
Biomaterial is a groundbreaking technological innovation of medical technology that can enhance the functionalities of damaged tissues or organs. Biomaterials are materials of either synthetic or natural origin that are used for interaction with biological systems for medical purposes such as treating or repairing damage tissues. They are used in joint replacements, plastic surgeries, drug delivery devices, skin repair, heart valves, and other medical implants. The recent success in the usage of biomaterials witnessed in the fields of cardiovascular medicine, immunology, orthopedics, dental medicine, infection, and ophthalmology opens new avenues for biomaterials technology.
The main factors that drive the growth of the biomaterials market include, increase in geriatric population, rise in prevalence rates of cardiovascular & orthopedic disorders, advancement in medical technology, and increase in awareness regarding implantable devices. In addition, increase in funding by government to increase R&D activities in the field of biomaterials and increase in awareness about the advantages of biomaterials products further drive the growth of the market. However, high cost of biomaterial implants and compatibility issues are expected to hamper the market growth. On the other hand, introduction of new technologies, namely, decellularized dermal matrixes for grafting and hydrogen scaffolding, and launch of new products in field of plastic surgery, wound healing, and neurology profitable opportunities for the growth of the market during the forecast period.
The biomaterial market is segmented on the basis of type, application, and region to provide a detailed assessment of the market. By Type, the market is segmented into metallic, polymeric, ceramic, and natural. Metallic biomaterials are again segmented into stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, and silver. In addition, polymeric biomaterials are again divided into polymethyl methacrylate (PMMA), polyethylene, polyester, polyvinylchloride, silicone rubber, nylon, and polyetheretherketone. Furthermore, ceramic biomaterials are again bifurcated into calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon, and glass. Moreover, natural biomaterials sub segmented into hyaluronic acid, collagen & gelatin, fibrin, cellulose, chitin, alginates, and silk.
On the basis of application, the market is classified into cardiovascular, dental, orthopedic, wound healing, plastic surgery, ophthalmology, tissue engineering, neurological disorders, and drug delivery systems. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players profiled in the report include Carpenter Technology Corporation, Corbion N.V, Covalon Technologies Ltd., Evonik Industries, Linden Capital Partners (Collagen Matrix, Inc.), Noble Biomaterials Inc., Royal DSM, Victrex plc., Stryker Corporation (Wright Medical Group N.V), and Zimmer Biomet Holdings, Inc.
Biomaterial is a groundbreaking technological innovation of medical technology that can enhance the functionalities of damaged tissues or organs. Biomaterials are materials of either synthetic or natural origin that are used for interaction with biological systems for medical purposes such as treating or repairing damage tissues. They are used in joint replacements, plastic surgeries, drug delivery devices, skin repair, heart valves, and other medical implants. The recent success in the usage of biomaterials witnessed in the fields of cardiovascular medicine, immunology, orthopedics, dental medicine, infection, and ophthalmology opens new avenues for biomaterials technology.
The main factors that drive the growth of the biomaterials market include, increase in geriatric population, rise in prevalence rates of cardiovascular & orthopedic disorders, advancement in medical technology, and increase in awareness regarding implantable devices. In addition, increase in funding by government to increase R&D activities in the field of biomaterials and increase in awareness about the advantages of biomaterials products further drive the growth of the market. However, high cost of biomaterial implants and compatibility issues are expected to hamper the market growth. On the other hand, introduction of new technologies, namely, decellularized dermal matrixes for grafting and hydrogen scaffolding, and launch of new products in field of plastic surgery, wound healing, and neurology profitable opportunities for the growth of the market during the forecast period.
The biomaterial market is segmented on the basis of type, application, and region to provide a detailed assessment of the market. By Type, the market is segmented into metallic, polymeric, ceramic, and natural. Metallic biomaterials are again segmented into stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, and silver. In addition, polymeric biomaterials are again divided into polymethyl methacrylate (PMMA), polyethylene, polyester, polyvinylchloride, silicone rubber, nylon, and polyetheretherketone. Furthermore, ceramic biomaterials are again bifurcated into calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon, and glass. Moreover, natural biomaterials sub segmented into hyaluronic acid, collagen & gelatin, fibrin, cellulose, chitin, alginates, and silk.
On the basis of application, the market is classified into cardiovascular, dental, orthopedic, wound healing, plastic surgery, ophthalmology, tissue engineering, neurological disorders, and drug delivery systems. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players profiled in the report include Carpenter Technology Corporation, Corbion N.V, Covalon Technologies Ltd., Evonik Industries, Linden Capital Partners (Collagen Matrix, Inc.), Noble Biomaterials Inc., Royal DSM, Victrex plc., Stryker Corporation (Wright Medical Group N.V), and Zimmer Biomet Holdings, Inc.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global biomaterials market along with the current trends and future estimations to elucidate the imminent investment pockets
- A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report
- Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities
- Extensive analysis of the key segments of the industry helps to understand the application and products of biomaterials used across the globe
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market
KEY MARKET SEGMENTS
By Type
- Metallic
- Stainless Steel
- Titanium & Titanium Alloys
- Cobalt-Chrome Alloys
- Gold
- Silver
- Polymeric
- Polymethylmethacrylate (PMMA)
- Polyethylene
- Polyester
- Polyvinylchloride
- Silicone Rubber
- Nylon
- Polyetheretherketone
- Ceramic
- Calcium Phosphate
- Zirconia
- Aluminum Oxide
- Calcium Sulfate
- carbon
- Glass
- Natural
- Hyaluronic Acid
- Collagen & Gelatin
- Fibrin
- Cellulose
- Chitin
- Alginates
- Silk
By Application
- Cardiovascular
- Dental
- Orthopedic
- Wound Healing
- Plastic Surgery
- Ophthalmology
- Neurological Disorder
- Drug Delivery System
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- Carpenter Technology Corporation
- Corbion NV
- Covalon Technologies Ltd
- Evonik Industries
- Linden Capital Partners (Collagen Matrix, Inc)
- Noble Biomaterials Inc
- Royal DSM
- Victrex plc
- Stryker Corporation (Wright Medical Group NV)
- Zimmer Biomet Holdings,
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Biomaterials Market, by Type
Chapter 5: Biomaterials Market, by Application
Chapter 6: Biomaterials Market, by Region
Chapter 7: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Biomaterials Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030, the global biomaterials market size was valued at $64.87 billion in 2020 and is projected to reach $212.40 billion by 2030, registering a CAGR of 12.7% from 2021 to 2030.Biomaterials are non-drug substances, suitable for inclusion in systems, which augment or replace the function of bodily tissues or organs. Biomaterial science can be installed and operated in numerous advanced medical technologies, such as tissue engineering, plastic surgery, drug delivery devices, and other medical implants. Biomaterials are primarily employed as controlled drug release methods in drug delivery systems. Biomaterials are porous bio-ceramics that are widely utilized to deliver medications and other biologically active substances in various matrices. They are also useful in biomedical engineering, biomineralization, and biomolecule research.
The major factors that impact the growth of the biomaterials market include, global rise in geriatric population, high prevalence of cardiovascular and orthopedic disorders, high demand for implantable devices, and advancement in medical technology. Furthermore, heavy funding and investments offered by government to research institutes, laboratories, and clinics involved in the development of biodegradable biomaterials and expanding knowledge of biomaterials applications are expected to boost the market growth. However, the market is hampered by the factors such as high cost associated with biomaterial production, issues of biocompatibility, and complications involved in wearing implantable products.
The COVID-19 virus causes illness ranging from common cold to more severe respiratory diseases. The revenue of global biomaterials market also declined in 2020 due to the global economic recession led by the COVID-19 pandemic. For instance, orthopedics implant surgeries and non-essential dental procedures, have been delayed due to the COVID-19 pandemic, which also decreases the demand for biomaterials. Thus, the outbreak of COVID-19 has negatively impacted the biomaterials market.
The biomaterials market is segmented on the basis of type, application, and region. By type, it is bifurcated into metallic, polymeric, ceramic, and natural. Metallic biomaterials are segmented into stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, and silver. Polymeric biomaterials are divided into polymethyl methacrylate (PMMA), polyethylene, polyester, polyvinylchloride, silicone rubber, nylon, and polyetheretherketone. Ceramic biomaterials are segmented into calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon, and glass. Natural biomaterials comprise hyaluronic acid, collagen & gelatin, fibrin, cellulose, chitin, alginates, and silk. The metallic segment was the major shareholder in 2020, owing to their high specific strength, high corrosion resistance, and low modulus. In addition, they are highly used in orthopedics, dental, cardiovascular, and neurological permanent and bioresorbable implants, which drive growth of the segment.
By application, it is segmented into cardiovascular, dental, orthopedic, wound healing, plastic surgery, ophthalmology, tissue engineering, neurological disorders, and drug delivery systems. The orthopedic segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to rise in demand of biomaterials in orthopedic applications and continuous developments for the introduction of advanced orthopedic implants by biomaterials market players.
By Region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest share of the global biomaterials market in 2020, and is expected to remain dominant during the forecast period. This was attributed to growth in geriatric populations, increasing R&D activities, widespread technological advancements, and several developments that have taken place regarding the use of novel biomaterials in wound healing, tissue engineering, neurology, plastic surgery, and ophthalmology in the region.
Key Findings Of Study
- On the basis of type, the metallic segment held largest share in the global market in 2020
- On the basis of application, the orthopedic segment dominates the global biomaterials market in 2020 and is anticipated to continue this trend during the forecast period
- On the basis of region, North America is expected to experience growth at the highest rate, registering a CAGR of 125% during the forecast period
Companies Mentioned
- Carpenter Technology Corporation
- Corbion N.V
- Covalon Technologies Ltd.
- Evonik Industries
- Linden Capital Partners (Collagen Matrix, Inc.)
- Noble Biomaterials Inc.
- Royal DSM, Victrex plc.
- Stryker Corporation (Wright Medical Group N.V)
- Zimmer Biomet Holdings, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 155 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 64874 million |
| Forecasted Market Value ( USD | $ 212405.2 million |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
