The global biomaterials market size was worth around USD 47.15 billion in 2023 and is predicted to grow to around USD 99.65 billion by 2032 with a compound annual growth rate (CAGR) of roughly 8.67% between 2024 and 2032.
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Introduction to the Biomaterials Market
The biomaterial is a substance that is either synthetic or naturally extracted and is used in the medical field to improve the functionality of wounded organs and tissues. These substances are employed to interact with biological instruments for medical purposes. Additionally, they are employed in the medical treatment of dental, neurological, orthopaedic, and cardiac conditions. It is also employed in plastic surgery, medical implants, drug delivery apparatus, and tissue engineering. Furthermore, the introduction of novel biomaterials, including ceramic polymeric, natural, and metallic biomaterials, will facilitate the growth of the biomaterials industry during the forecast period.
Growth Dynamics of the Biomaterials Market
A biomaterial is any substance that is designed to assist biological systems in therapeutic or diagnostic applications. A biomaterial is a non-viable substance that is utilised in medical devices and is designed to interact with biological systems. Biomaterials have the capacity to produce a suitable host response in particular applications, which is known as biocompatibility.
The global biomaterials market is anticipated to be driven by the swiftly expanding healthcare sector in the future. Biomaterials are utilised in a variety of products, including contact lenses, skin restoration, blood vessel prostheses, gene transfer, drug delivery, and dental. This is the primary factor anticipated to drive the global biomaterial market’s expansion during the forecast period. In addition, the biomaterials market is being driven by the increasing prevalence of chronic diseases, the ageing population base, and the growing awareness of advanced technology around the world.
In the future, it is anticipated that the biomaterials market will generate new growth opportunities as a result of ongoing research and development activities for bioinert and innovative materials. Furthermore, the global biomaterials market is expected to be stimulated by the increasing competition among the primary market participants who are engaged in the development of innovative solutions in the years ahead.
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The Global Biomaterials Market is segmented based on product, application and region
Global Biomaterials Market: Product Segment Analysis
● Metallic
● Ceramics
● Natural
● Polymer
Global Biomaterials Market: Application Segment Analysis
● Cardiovascular
● Ophthalmology
● Dental
● Orthopedic
● Wound Healing
● Tissue Engineering
● Plastic Surgery
● Neurology
● Others
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The Global Biomaterials market profiles key players such as:
● Berkeley Advanced Biomaterials
● AdvanSource Biomaterials
● DePuy Orthopaedics
● Collagen Matrix
● Invibio
● Angiotech Pharmaceuticals
● Dentsply International
● Zimmer Biomet
● Orthovita
● Cam Bioceramics
● Wright Medical Group
By 2032, North America will contribute significantly to the industry’s overall size.
Over the forecast period, North America is anticipated to maintain its dominance in the global biomaterials market. This can be attributed to the region’s ageing population and the increasing demand for biomaterials in the fields of plastic surgery, neurology, and wound recovery. It is anticipated that the global biomaterials market will experience substantial development in the Asia Pacific region in the years ahead. This may be attributed to the increasing prevalence of chronic diseases and the increasing awareness of biomaterials. In 2018, China and India dominated the Asia Pacific biomaterials market.
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