Biomaterials Market Size To Reach USD 47.5 Bn In 2025

2022-06-08 13:40:43 UTC | Healthcare & Pharmaceuticals
Biomaterials Market Size To Reach USD 47.5 Bn In 2025

Biomaterials are natural or synthetic materials that can be implanted into body tissue as a part of an implanted medical device, to augment or replace an organ. Some biomaterial-based medical devices include heart valves, stents, artificial knee, and hip joints, among others.

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The report "Biomaterials Market by Type of Materials (Metallic, Ceramic, Polymers, Natural), Application (Cardiovascular, Orthopedic, Dental, Plastic Surgery, Wound Healing, Neurological disorders, Tissue Engineering, Ophthalmology) - Global Forecast to 2025",

The global biomaterials market is projected to reach USD 47.5 billion by 2025 from USD 35.5 billion in 2020, at a CAGR of 6.0% during the forecast period.

Market growth is driven mainly by factors such as the increased funds & grants by government bodies worldwide for the development of novel biomaterials, rising demand for medical implants, and the rising incidence of cardiovascular diseases, increasing research on regenerative medicine.

The metallic biomaterials segment accounted for the largest share of the type segment in the biomaterials market in 2019.

On the basis type of materials, the biomaterials market is broadly segmented into Metallic, Polymeric, Ceramic, and Natural biomaterials. In 2019, Metallic biomaterials accounted for the largest share of the biomaterials market. This can primarily be attributed to the wide use of metals in the manufacturing of medical devices used in cardiovascular, dental, and orthopedic applications.

The cardiovascular application segment accounted for the largest share of the application segment in the biomaterials market in 2019.

Based on application, the biomaterials market is categorized into seven segments— cardiovascular, orthopedic, ophthalmology, neurological/central nervous system (CNS), dental, tissue engineering, wound healing, plastic surgery, and other applications. The cardiovascular application segment accounted for the s=largest share of the biomaterials market in 2019. The large share of this segment can be attributed to the increasing prevalence of cardiovascular diseases, rising geriatric population, increasing angiography procedures, and the growing adoption of cardiac stents, pacemakers, and implantable cardiac defibrillators.

The Asia Pacific region is the fastest-growing region of the biomaterials market in 2019.

In 2019, Asia Pacific region accounted for the fastest-growing region of the biomaterials market. It is also estimated to grow at the highest CAGR in the biomaterials market during the forecast period, this is mainly due to Japan’s growing healthcare industry, increasing geriatric population, rising number of cosmetic and plastic surgeries in India, lucrative medical devices industry, and favorable tax policies in China.

Leading market players and strategies adopted

Prominent players in the biomaterials market are Royal DSM (Netherlands), BASF SE (Germany), Corbion (Netherlands), Carpenter Technology Corporation (US), Evonik Industries (Germany), Berkeley Advanced Biomaterials (US), Cam Bioceramics B.V. (Netherlands), Celanese Corporation (US), CoorStek Inc. (US), CeramTec (Germany), and GELITA AG (Germany).

Recent Developments :

·         Royal DSM (Netherlands) and ProMed Pharma (US) partnered for the development of novel sustained release drug delivery solutions in the polymeric drug delivery area.

·         Covestro AG (Germany) signed an MoU with a group of ten companies and two research organizations with an aim to build a Composite Application Center (CAC) in Singapore. This was aimed to develop end-to-end solutions for advanced composites, such as thermoplastic materials.

·         Celanese Corporation (US) announced an expansion of its production facility of thermoplastic co-polyesters. This expansion is expected to support the demand of its global engineered

Frequently Asked Questions (FAQ) in The Report:

1. What is the impact of COVID-19 on the biomaterials market?

2. Who are the key players in the biomaterials market?

3. Which type dominates in the Biomaterials market?

4. Which application segment of the global biomaterials market is expected to witness the highest growth?

5. What is the market for biomaterials?