New York, USA, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Biomaterials Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Biomaterials Market Information By Types, Applications, and Region - Forecast till 2030", the market will reach USD 212.40 billion by 2030, an 7.8% CAGR.
Biomaterials Market Synopsis
Biomaterials are man-made materials, either synthetic or natural, that are used in medical technology to restore function to organs, bones, and tissues that have been injured. These biological materials make medical implants and gadgets that replace or complement natural bodily functions. Because the body does not accept foreign material to totally supplement its biological processes, implantable biomaterials are designed to decrease negative immune reactions while maintaining proper performance. Examples include contact lenses, dental implants, and replacement hip joints. They are frequently biodegradable; some are bioabsorbable, meaning that when they have served their purpose, they are gradually eliminated from the body.
Biomaterials may adapt to any purpose according to their design. Because the body does not allow foreign material to supplement its biological processes, implantable biomaterials are designed to limit undesirable immune reactions while preserving proper function. These biomaterials work with biological systems to treat heart, mouth, joints, and nervous issues. In this market, revenue is generated by developing smart biomaterials that interact with biological systems for various biomedical applications, including the transfer of bioactive chemicals and the cellular operation of created functional tissues.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 212.40 Billion |
| CAGR | 7.80% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Types, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rise in prevalence of cardiovascular diseases and Expansion in the usage scope of biomaterials |
| Growing demand for implantable devices and Growing healthcare market in emerging economies |
Biomaterials Market Competitive Landscape:
The central players in the biomaterials market are:
- BASF SE (Germany)
- CAM Bioceramics BV (Netherlands)
- Celanese Corporation (US)
- Wright Medical Technology, Inc. (US)
- Royal DSM (Netherlands)
- Corbion N.V. (Netherlands)
- Covestro (Germany)
- Invibio Ltd. (UK)
- Carpenter Technology Corporation (US)
- Evonik Industries AG (Germany)
- Berkeley Advanced Biomaterials, Inc. (US)
- Zimmer Biomet Holdings, Inc. (US)
- Bayer AG (Germany)
- Collagen Matrix (US)
Biomaterials Market U.S.P. Covered:
Market Drivers:
The main cause of death in the world is cardiovascular disease. Although surgical and pharmaceutical therapies significantly enhance the quality of life for cardiovascular patients, less expensive and invasive procedures are always preferred. Additionally, heart regeneration and repair are excellent applications for biomaterials. The application of injectable biomaterials involves improved angiogenesis, reduced left ventricular enlargement, and maintenance of heart function. Therefore, it is anticipated that the rising prevalence of cardiovascular illnesses will drive this market's growth during the forecast period.
During the projected period, emerging nations are anticipated to expand the biomaterials market considerably. This is due to several factors, including increased patient population, increased awareness of cardiovascular diseases (CVDs), improved healthcare infrastructure, higher disposable income, and less strict regulatory restrictions. The growing elderly population, at a higher risk of osteoarthritis, osteoporosis, and other musculoskeletal problems, is another factor driving up demand for orthopedic implants. For coronavirus detection and treatment, various biomaterials and biomedical equipment are required. Early virus detection is essential to stop the virus's spread in this pandemic.
Market Restraints:
Devices made of biomaterials have undergone a rigorous clinical and regulatory process to ensure both their quality and efficacy. The fact that the majority of biomaterial devices can be implanted is the main cause of this. As a result, they must go through several clinical and regulatory processes that are intricate, restrictive, and based on composition before obtaining market approval. Because of this, market participants are reluctant to invest in this market. Therefore, the factors mentioned above are anticipated to limit market expansion during the anticipated period.
Browse In-depth Market Research Report (120 Pages) on Biomaterials: https://www.marketresearchfuture.com/reports/biomaterial-market-2021
Biomaterials Market COVID 19 Analysis
To ensure that the effectiveness and quality of the devices created with biomaterials are up to par, rigorous regulatory and clinical protocols must be followed. This is because most biomaterial-made devices may be implanted inside the human body. The COVID-19 pandemic had a significant influence on general hospital treatment globally as well as on the operation of the global economy. The market for orthopedic implants is anticipated to be muted in the short term since many hospitals and clinics remain shuttered due to lockdowns, lowering the need for biomaterials. Consequently, the need for biomaterials declines as non-emergent therapies is delayed. The pandemic also significantly influenced many important European nations, including the United States, Japan, and China. Sales of these products have decreased due to the pandemic and worldwide lockdowns because most of these nations are major producers of biomaterials. The market for biomaterials was consequently slightly harmed.
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Biomaterials Market Segmentation
By Type the market is segmented into metallic, ceramics, polymeric, natural biomaterials
By Application the market is segmented into joint replacements, ophthalmology, cardiovascular, wound healing, plastic surgery, neurological conditions
Biomaterials Market Regional Insights
Due to the steps taken by numerous business and public entities, North America led the biomaterials market. Additionally, this has led to a rise in the use of biomaterials in this area. The regional market share has also been influenced by additional elements like advantageous government policies and numerous significant market participants in this region. The market for biomaterials in Europe is also expanding more quickly, and this trend is anticipated to last in the coming years. The increased demand for environmentally friendly products in the medical industry has a direct impact on the market growth rate.
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During the forecast period, the Asia-Pacific region displayed the highest CAGR. This is attributable to factors including the region's aging population, which is driving up demand for surgery and increasing the number of bone fractures. India and China are two important nations that provide considerable market share contributions to the Asia-Pacific region. The market for biomaterials is further helped by the acceptance of implanted devices, CVD awareness, and enhanced healthcare infrastructure.
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