The new report by Expert Market Research titled, ‘Global Biomaterials Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2024-2032’, gives an in-depth analysis of the global biomaterials market, assessing the market based on its segments like product types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2032)
- Forecast CAGR (2024-2032): 13.75%
The biomaterials market is being driven by the thriving orthopedics segment. The rising demand for biomaterials can be attributed to the increasing incidences of common orthopedic diseases like arthritis, osteoarthritis, and bursitis, increasing the demand for orthopedic implant surgeries that employ metallic biomaterials because of their remarkable load-bearing capacity. The increased risk of these diseases is becoming a growing concern which has galvanized various government organisations and private universities to invest a substantial amount in extensive research and development activities for biomaterials further, propelling the biomaterials industry.
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Meanwhile, the rising application of biomaterials for the plastic surgery segment is projected to increase substantially due to rising disposable middle-class income, which will likely provide an impetus to the market. Furthermore, in post-COVID days, as the various segment recovers from the negative impacts of the pandemic, the product is likely to witness a rise in demand, bolstered by the efforts of the government.
Biomaterials Industry Definition and Major Segments
A biomaterial is a synthetic, natural or combined substance utilised to interact with biological systems to treat, diagnose, augment, or replace any tissue, organ or help in the body’s functioning. They can be found in nature or created in a lab setting by employing a myriad of chemical approaches utilising metallic components, polymers, ceramics, and composite materials. Furthermore, biomaterials can be made from a variety of materials including metals, ceramics, plastic, glass, and even biological cells and tissue.
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The biomaterials market, on the basis of product type, can be segmented into:
- Natural Biomaterial
- Metallic Biomaterial
- Ceramic Biomaterial
- Polymeric Biomaterial
On the basis of application, the market can be categorised into:
- Neurology
- Cardiology
- Orthopaedics
- Ophthalmology
- Wound Care
- Dental
- Plastic Surgery
- Others
The regional markets for biomaterials include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Among these, North America represents the largest biomaterials market.
Biomaterials Market Trends
Rapid advancements in biomaterial technology across the regions are likely to aid the market as they have made biomaterials more reliable and versatile and increased their employment in various sectors like healthcare, tissue engineering, and biotechnology. Furthermore, the development of smart biomaterials that can interact with biological systems and adapt to the changes in physiological parameters and external stimuli is projected to aid market growth.
The increasing investments by the governments of various nations to improve their healthcare infrastructure after the onset of COVID-19 is likely to be another key trend bolstering the market growth in the forecast period. The key players’ rapid technological advancements and increasing investments to develop innovative solutions with the latest features are anticipated to significantly contribute to the market growth.
Key Market Players
The major players in the market are Koninklijke DSM N.V., Corbion N.V., Zimmer Biomet, Noble Biomaterials Inc., Bayer AG among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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