Polymeric Biomaterials Global Market Report 2024

The polymeric biomaterials market size has grown rapidly in recent years. It will grow from $50.97 billion in 2023 to $59.69 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth during the historic period can be attributed to several factors, including increased demand for medical implants, improved biocompatibility of materials, the emergence of tissue engineering, a rise in orthopedic surgeries, and the development of advanced drug delivery systems.

The polymeric biomaterials market size is expected to see rapid growth in the next few years. It will grow to $113.07 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to several factors, including the advancement of regenerative medicine and personalized medicine, growing environmental concerns, the adoption of 3D printing technology, advancements in chronic disease management, and the increasing popularity of minimally invasive surgery techniques. Major trends expected during this period include progress in polymer chemistry, innovations in biomedical engineering, regulatory approvals for new technologies, integration of advanced technologies, and increased academic research in the field.

The rise in chronic diseases prevalence is expected to drive the growth of the polymeric biomaterials market in the foreseeable future. Chronic diseases, characterized by long-lasting conditions that progress slowly and persist over time, are increasingly prevalent due to factors such as aging populations, lifestyle choices, economic burdens, healthcare needs, and public health challenges. Polymeric biomaterials play a crucial role in treating chronic diseases by offering innovative solutions that enhance medical treatments' effectiveness and contribute to individuals' overall quality of life. These materials are also integral to developing various medical devices and implants, such as stents, catheters, and joint replacements, essential for managing chronic conditions requiring surgical intervention. For example, the World Health Organization (WHO) reported that chronic diseases account for 74% of global deaths, including millions from cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes annually. This underscores how the growing prevalence of chronic diseases fuels the polymeric biomaterials market's expansion.

Leading companies in the polymeric biomaterials market are focusing on developing innovative solutions, such as 3D printable biomaterials, to maintain their competitive edge. 3D printable biomaterials are a class of materials compatible with three-dimensional (3D) printing technologies for medical applications, enabling the creation of structures and devices. For instance, in March 2022, Evonik Industries AG launched VESTAKEEP iC4800 3DF, a novel osteoconductive PEEK filament facilitating bone and implant fusion. This high-performance polymeric biomaterial enhances bone growth and is ideal for 3D-printed medical implants due to its biocompatibility and osteoconductive properties. The VESTAKEEP iC4800 3DF filament enables the creation of patient-specific implants, improving fusion, accelerating healing, and customizing implant designs, thus expanding Evonik's portfolio of 3D printable biomaterials for medical applications.

In May 2022, Huafon Group Co. Ltd. acquired the Biomaterials business from DuPont de Nemours Inc. for approximately $240 million, enhancing its specialized materials portfolio for medical and healthcare applications. This strategic move positions Huafon Group to capitalize on the growing demand for polymeric biomaterials across various sectors, including healthcare and biomedical research. DuPont de Nemours Inc. is renowned for its production of polymeric biomaterials and bio-based material solutions.

Major companies operating in the polymeric biomaterials market are BASF SE, 3M Company, Medtronic plc, Toray Industries Inc., Evonik Industries AG, Covestro AG, Stryker Corporation, Solvay SA, DuPont Biomaterials, Arkema Group, Mitsubishi Chemical Holdings Inc., Celanese Corporation, Royal DSM, TEIJIN Limited, Zimmer Biomet Holdings Inc., Dentsply Sirona Inc., Huafon Group, W. L. Gore & Associates Inc., Corbion NV, Integra LifeSciences Holdings Corporation, Victrex plc, Collagen Matrix, Berkeley Advanced Biomaterials, Bezwada Biomedical LLC, Covation Biomaterials, Starch Medical Inc.

North America was the largest region in the polymeric biomaterials market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polymeric biomaterials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the polymeric biomaterials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Polymeric biomaterials are engineered materials designed to interact with biological systems for therapeutic or diagnostic purposes. These materials have been developed to elicit specific biological responses and play a crucial role in tissue engineering, offering a wide range of functionalities including drug delivery, micropatterning, and microfluidics.

The primary types of polymeric biomaterial products include polylactic acid, polyglycolic acid, polyurethanes, polytetrafluoroethylene, polyaryletheretherketone, polydioxanone, and others. Polylactic acid (PLA) is a biodegradable thermoplastic polyester derived from renewable resources such as corn starch, cassava roots, or sugarcane. These materials find applications in various fields including cardiovascular, dental, orthopedic, plastic surgery, neurology, among others, and are utilized by a variety of end-users including hospitals, clinics, and others.

The polymeric biomaterials market research report is one of a series of new reports that provides polymeric biomaterials market statistics, including polymeric biomaterials industry global market size, regional shares, competitors with a polymeric biomaterials market share, detailed polymeric biomaterials market segments, market trends and opportunities, and any further data you may need to thrive in the polymeric biomaterials industry. This polymeric biomaterials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The polymeric biomaterials market consists of sales of biomedical sensors and monitors, dental products, wound care products, medical devices and implants, and dressings and bandages. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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