The global biomaterials market size is expected to reach USD 121.38 Billion in 2021 and register a revenue CAGR of 12.2%, according to the latest report by Reports and Data. Market revenue growth can be attributed to increasing number of accidents, rising prevalence of chronic diseases, and developments in biomaterials technologies.
Biomaterials are artificial or natural materials used to help in the healing process of injured tissues, muscles, bones, and organs function efficiently. These materials are being used to interact with biological systems that are designed to treat cardiovascular, orthopedic, neurological, and dental disorders. The global biomaterials market is expected to be driven by continuous technological developments and innovations in the biomaterials industry, increasing use of implantable devices, and high demand for plastic operations employing biomaterials among patients and healthcare professionals.
Biomaterials have become more versatile as a result of technological advancements, and utility of these materials in various domains of healthcare such as bioengineering and tissue engineering, is increasing rapidly. In addition, introduction of smart biomaterials that interact with biological systems for a variety of biomedical applications, ranging from transfer of bioactive chemicals to the cellular functioning of created functional tissues is driving market revenue growth to a significant extent.
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Some Key Highlights from the Report:
- Based on application (material type), the cardiovascular segment accounted for largest revenue share in 2021 and is expected to continue to contribute major revenue share over the forecast period. Natural biomaterials in cardiovascular biomaterials are expected to gain substantially high demand in the years to come, owing to various benefits offered by the product as compared to synthetic biomaterials in biocompatibility, biodegradability, and remodeling.
- Based on application, tissue engineering segment is expected to register robust revenue CAGR. Revenue growth of this segment can be attributed to rising prevalence of diabetes and obesity as a result of lifestyle changes across the globe.
- Based on end user, the hospitals & clinics segment is expected to account for major revenue share over the forecast period, as a consequence of increased hospital admissions due to rising incidence of various chronic diseases and availability of competent personnel in hospitals and clinics.
- North America market accounted for largest revenue share in 2021, due to increasing initiatives by government and private organizations, high investments by major players in research & developments and manufacturing of various products that require biomaterials are some of the key factors driving revenue growth of the market in this region.
- Asia Pacific is expected to register fastest revenue growth rate owing to increasing geriatric population along with rising patient pool in healthcare facilities due to increasing prevalence of various chronic diseases such as cardiovascular diseases and orthopedic replacement. For instance, cardiovascular diseases are one of the leading causes of mortality in countries in the region. In addition, strong presence of major players and strategic initiatives by government of countries in the region are factors supporting revenue growth of the Asia Pacific market.
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Biomaterials market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
- Covestro AG
- CRS Holdings, LLC
- Evonik Industries AG
- Victrex Plc
- AB Specialty Silicones
- Ceramtec GMBH
- Mitsubishi Chemical Holdings
- Olympus Terumo Biomaterial Corporation
- Gelita AG
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Biomaterials Market Segmentation:
- Metallic Biomaterials
- Stainless steel
- Titanium alloys
- Cobalt chrome alloys
- Polymeric biomaterial
- Polyetheretherketone (PEEK)
- Polyvinyl chloride
- Silicone rubber
- Ceramic Biomaterial
- Calcium phosphate
- Natural Biomaterial
- Implantable cardiac defibrillators
- Heart Valves
- Vascular graft
- Guide wires
- Joint Replacement
- Visco supplementation
- Bioresorbable tissue fixation
- Fracture fixation devices
- Contact lenses
- Intraocular lenses
- Functional replacement of ocular tissues
- Synthetic corneas
- Plastic surgery
- Tissue engineering
Geographic Segment Covered in the Report:
The Biomaterials report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)
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Key market aspects are illuminated in the report:
- Executive Summary: It covers a summary of the most vital studies, the Global Biomaterials market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
- Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Biomaterials market, the years measured, and the study points.
- Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
- Manufacture by Region: This Global Biomaterials report offers data on imports and exports, sales, production and key companies in all studied regional markets.
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