DUBLIN, Dec. 31, 2023 /PRNewswire/ — The “Global Biomaterials Market, By Material Type (Metallic Biomaterials, Polymeric Biomaterials, Ceramics, Natural Biomaterials), By Application (Cardiovascular, Orthopedic, Ophthalmology, Dental, Others), By Region, Forecast & Opportunities, 2027” report has been added to ResearchAndMarkets.com’s offering.
Global biomaterials market is expected to register substantial rate of growth during the forecast period owing to factors like increasing geriatric population, rapidly growing healthcare sector and its wider use in various products and applications, such as contact lenses, skin repair, blood vessel prosthesis, gene transfer, drug delivery, and dental.
Biomaterials are artificially derived synthetic or natural materials which are used to interact with biological systems for medical purposes and treatments. They are often used in medical applications to augment or replace a natural function. The biomaterial market is anticipated to grow significantly during the next five years due to discoveries in tissue engineering, regenerative medicine, and more. They often are biodegradable, and some are bio-absorbable, meaning they are eliminated gradually from the body after fulfilling a function.
Additionally, metals, ceramics, plastic, glass, and even living cells and tissue all can be used in creating a biomaterial. Moreover, heavy funding by government organizations for innovation of new products is creating new scope for the growth in biomaterials market.
Rising prevalence of cardiovascular, neurological, & orthopedic disorders, coupled with increasing awareness regarding the advantages of biomaterials products is further driving the market. Furthermore, rising prevalence of cardiovascular, neurological, & orthopedic disorders around the world is anticipated to create major demand for biomaterials through 2026.
The global biomaterials market is segmented based on product, material type, type, application, end user, and region. Based on material type, the market is segmented into metallic, natural, ceramics, polymeric, living cell and tissue. The metallic biomaterials segment held lion’s share in 2020 due to wide use of metals in the manufacturing of medical devices and their use in orthopedic procedures for bone support and replacement, as they are strong and resistant to fatigue degradation.
By region, North America dominates the biomaterials market owing to the initiatives undertaken by several public and private organizations in the region. Also, factors such as favorable government policies and presence of major market players made the region dominant in terms of revenue share in 2020.
However, Asia-Pacific region is expected to register highest CAGR in the coming years due to a large population base in countries like India and China coupled with growing incidences of chronic diseases and rising awareness about biomaterials in the region.
The market players are focusing on new researches as well as mergers and acquisitions to make a strong foothold in the global biomaterials market.
Major players operating in the global biomaterials market include
- Celanese Corporation
- Covestro AG
- BASF SE
- Medtronic Plc
- Zimmer Biomet Holdings, Inc
- Covalon Technologies Ltd
- Berkeley Advanced Biomaterials, Inc
- Koninklijke DSM NV
- Evonik Industries AG
- Xylos Corporation
Report Scope:
Global Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2023
- Forecast Period: 2023-2026
Biomaterials Market, By Material Type:
- Metallic Biomaterials
- Polymeric Biomaterials
- Ceramics
- Natural Biomaterials
Global Biomaterials Market, By Application:
- Cardiovascular
- Orthopedic
- Ophthalmology
- Dental
- Others
Global Biomaterials Market, By Region
- Asia-Pacific
- Europe
- North America
- South America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/69sbv8
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