Biomaterials Market to Witness Substantial Growth in the Next Five Years

Increasing cases of cardiovascular diseases and advancements in medicinal innovation to drive global biomaterials market

According to TechSci Research report, “Global Biomaterials Market By Product (Implants, Valves, Joint Replacement, Contact Lenses and Others), By Material Type (Metallic, Natural, Ceramics, Polymeric, Living Cell and Tissue), By Type (Bioinert, Bioresorbable, Bio Tolerant and Bioactive), By Application (Ophthalmology, Cardiovascular, Orthopedic, Wound Healing, Plastic Surgery, Neurology, Dental, Others), By End User (Private Hospitals, Government Hospitals, Specialty Clinics), By Region, Forecast & Opportunities, 2025”, the market is expected to grow at a significant CAGR until 2025. The reason behind the growth of biomaterials market is rising demand for medical implants, growing trend and demand for plastic surgeries, rising prevalence of musculoskeletal, neurological, orthopedic disorders and chronic skeletal medical condition, coupled with heavy funding by government organizations to launch new products worldwide. Additionally, biomaterials find applications in various products including dental, derma, contact lenses, blood vessel prosthesis, gene transfer and drug delivery. Moreover, growing aging population base, rising number of hip and knee replacement procedures among old age people and increasing number of cosmetic procedures worldwide are some other key factors anticipated to drive the growth of biomaterials market. Furthermore, scientists are continuously focusing on developing new types of biomaterials to widen their application in life science. Development of new and improved biomaterials is further fueling the market growth. People are also now getting more aware of the advantages of biomaterials products. Countries like China and India serve as major market for biomaterials due to the large population base and increasing incidences of cardiovascular diseases.

However, there are some factors which might restrict the growth of biomaterials market. High cost of biomaterial production and strict rules & regulations in healthcare sector are some major barriers to the growth of this market.

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The global biomaterials market is segmented based on product, material type, type, application, end user, company and region. Based on material type, the biomaterials market is segmented into metallic, natural, ceramics, polymeric, living cell and tissue. Among them, the metallic biomaterial segment dominated the market in 2019 owing to its application in orthopedic procedures for bone support and replacement as they are strong and resistant to fatigue degradation. Metallic biomaterials are also used in dental, cardiovascular, and cosmetic surgeries.

Based on application, the global market for biomaterials has been segmented into ophthalmology, cardiovascular, orthopedic, wound healing, plastic surgery, neurology, dental and others. Orthopedic disorder is expected to hold lion’s share during the forecast period, owing to the increase in number of orthopedic surgeries using implants such as orthobiologics, bioresorbable tissue fixation products, joint replacements, spine implants, and nonconventional modular tumor implants.

Koninklijke DSM N.V., Bayer AG, Corbion NV, Wright Medical Technology, Inc., Zimmer Biomet Holdings, Inc., Collagen Matrix, Inc., Noble Biomaterials Inc, Covalon Technologies Ltd, Olympus corporation, Johnson & Johnson, Cook Medical, Smith and Nephew, Becton Dickinson, Medtronic and Angiodynamics are some of the leading players operating in global biomaterials market.

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“Based on application, Plastic surgery and wound healing segments are expected to show robust growth until 2025 in biomaterials market. With advancement in healthcare industry, biomaterials are being utilized in numerous application which is expected to boost the global biomaterials market during the forecast period. Moreover, people are now aware of the benefits of biomaterials and hence, they are not hesitant in trying out its medical applications. Additionally, research and development activities for development of bioinert and innovative materials is what needs to be done to further fuel the growth of biomaterials market across the globe.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Biomaterials Market By Product (Implants, Valves, Joint Replacement, Contact Lenses and Others), By Material Type (Metallic, Natural, Ceramics, Polymeric, Living Cell and Tissue), By Type (Bioinert, Bioresorbable, Bio Tolerant and Bioactive), By Application (Ophthalmology, Cardiovascular, Orthopedic, Wound Healing, Plastic Surgery, Neurology, Dental, Others), By End User (Private Hospitals, Government Hospitals, Specialty Clinics), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global biomaterials market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global biomaterials market.

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