New York, According to a new market research report published by Global Insight Services “Biomaterials Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A biomaterial is a material engineered to interact with biological systems for a medical purpose – either a therapeutic or a diagnostic one. They can be derived either from nature, where they are called natural biomaterials, or they can be synthetic, in which case they are called artificial biomaterials. The first artificial biomaterials were made from polymers such as polyurethane and polyethylene. More recently, biomaterials have been made from a variety of different materials, including metals, ceramics, and even glass.
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Key Market Players
- BASF SE
- Stryker Corporation (Wright Medical Group N.V)
- Celanese Corporation
- Corbion
- Royal DSM
- Evonik Industries
- Carpenter Technology Corporation
Key Trends
The key trends in biomaterials technology are the development of new materials and the improvement of existing materials. New materials are being developed that are more biocompatible and can be used for a variety of applications. Improvements in existing materials are being made to make them more durable and to improve their performance.
Key Drivers
The key drivers of the global biomaterials market are the increasing demand for biomaterials from the healthcare sector and the growing awareness about the benefits of biomaterials among the general population. The healthcare sector is the largest consumer of biomaterials, accounting for more than 50% of the total demand. This is attributed to growing incidence of chronic diseases, the aging population, and the increasing demand for minimally invasive procedures. Biomaterials are increasingly being used in a wide range of applications, such as orthopedic, dental, and cardiovascular implants, and in tissue engineering. The growing awareness about the benefits of biomaterials along with its rising application is anticipated to drive the global biomaterials market growth.
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Key Market Segments
- By Product Type
- Metallic
- Polymeric
- Ceramic
- Natural
- By Application
- Cardiovascular
- Dental
- Orthopedic
- Others
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