USD 135.4 billion
Biomaterials Market Size, Share, Growth Analysis, By Type(Metallic, Polymeric, Ceramic, and Natural), By Application(Cardiovascular, Dental, Orthopedic, Wound Healing), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2027 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|Tables:
69
|Figures:
75
Biomaterials Market Insights
Global Biomaterials Market size was valued at USD 135.4 Billion in 2022 poised to grow from USD 155.9 Billion in 2023 to USD 438.1 Billion by 2031, growing at a CAGR of 15.4% in the forecast period (2024-2031).
Due to factors such as an older demographic, higher incidence rates of heart disease and joint problems, advancing healthcare technologies, and escalating public knowledge about devices that can be implanted in people’s bodies, there is significant growth in the global biomaterials market. This growth can also be attributed to increased government backing for biomaterials research and development along with heightened consumer comprehension regarding the merits associated with products made using biomaterials. Nevertheless, it is foreseen that compatibility challenges and the expensive nature of biomaterial implants could restrain growth of the market.
However, the introduction of new technologies—decellularized dermal matrixes for grafting and hydrogen scaffolding, for example—as well as new products in the fields of neurology, wound healing, and plastic surgery are anticipated to present lucrative growth opportunities for the market over the course of the forecast period. The goal of implantable biomaterials is to reduce the adverse immune response while maintaining proper function, as the body cannot fully integrate any foreign substance to enhance its biological functions. For the purpose of treating neurological, orthopaedic, dental, and cardiovascular disorders, among other medical conditions, these biomaterials interact with biological systems.
US Biomaterials Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Metallic Biomaterial
Fastest Growth
Metallic Biomaterial
Growth Rate
15.4% CAGR
Global Biomaterials Market ($ Bn)
Country Share by North America (%)
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Biomaterials Market Segmental Analysis
The global biomaterials market is segmented based on Type, Application, and region. In terms of Type, the market is segmented into Metallic, Polymeric, Ceramic and Natural. Based on the Application, the market is grouped into Cardiovascular, Dental, Orthopedic, Wound Healing, Plastic Surgery, Ophthalmology, Neurological Disorder and Drug Delivery System. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa.
Analysis by Type
As per categorization by type, the market is classified as metallic, polymeric, ceramic and natural. Among these, metallic type earned the largest share and continues to dominate the market. The global biomaterials market is dominated by metallic biomaterials, which are widely used in orthopaedic implants, dental applications, and cardiovascular devices. Strength, durability and biocompatibility are the most common features of these materials. Innovations focusing on improving corrosion resistance and biocompatibility drive their sustained dominance in medical applications, where mechanical stability is crucial.
The global biomaterials market is expected to witness significant expansion in the near future because of polymeric biomaterials' adaptability, low weight, and simplicity of production. The increasing adoption and utilization of them in tissue engineering, drug delivery systems and biodegradable implants, along with advancements made in polymer science have led to their rising status as the best choice for innovative medical applications.
Analysis by Application
Owing to the increasing need for joint replacements, fracture fixation devices, and spinal implants, orthopedic applications account for the majority of the global biomaterials market. Orthopedic biomaterials are revolutionizing the treatment of musculoskeletal illnesses and injuries by stimulating bone regeneration, improving material strength, and being biocompatible. This has led to the market leadership of orthopedic biomaterials.
Due to the increased prevalence of heart illness and the developments in stent, graft, and pacemaker technologies, the cardiovascular applications market is expected to grow at the quickest rate in the global biomaterials market This rapid expansion is being driven by greater usage of biomaterials that improve biocompatibility and lower the risk of thrombosis in life-saving cardiovascular operations.
Global Biomaterials Market By Type (%)
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Biomaterials Market Regional Insights
Due to its sophisticated healthcare system, significant R&D spending, and strong concentration of important industry participants, North America leads the global biomaterials market. Large government investment for medical research is beneficial to the region, especially for biomaterials used in orthopedic and cardiovascular applications. In addition, there is a growing need for novel biomaterial-based therapies due to the ageing population and the rise in chronic illness. This industry is being pushed forward through favorable regulatory environments and quick clearance procedures. The North American region's position as a global frontrunner in biomaterial market is also supported by the United States' lead in technological advancements, as well as the use of modern medical equipment.
This part of the world has seen a surge in demand for advanced healthcare materials resulting in an increase in urban centers, enhancement of healthcare facilities and provision of outpaced medical supplies. The surging healthcare costs combined with growing number of aged persons are propelling the growth of orthopedic and cardiovascular biomaterials. Countries such as India and China, for instance have robust manufacturing sectors which have made them better placed than others thus biomaterials availability has risen. In addition, the rise of medical tourism as well as government programs and policies geared towards healthcare innovation have also accelerated market growth. Asia Pacific is expected to grow into a major force in the global biomaterials market as technology usage increases.
Global Biomaterials Market By Geography
- Largest
- Fastest
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Biomaterials Market Dynamics
Biomaterials Market Driver
Expanding Need for Biomaterials in Plastic Surgery and Wound Healing:
- Wound healing and plastic surgery are two common applications for biomaterial-based products. Biomaterials are frequently used in plastic surgery to implant, reconstruct, heal, and conceal burns, holes in the body, or soft tissue injuries in a natural and safe manner. One major factor driving the medical industry is the increase in demand for biomaterials in plastic surgery and wound healing.
Rising Number of Musculoskeletal Diseases:
- The number of musculoskeletal and chronic skeletal medical disorders is rising, which is driving up demand for implants made of biomaterials and expanding the market. The ageing population and increased risk of osteoporosis, osteoarthritis, and other musculoskeletal disorders are driving up demand for orthopaedic implants.
Restraints
Concerns with Biocompatibility:
- Large amounts of impairment and suffering are caused by orthopedic injuries and related disorders, which pose a serious threat to worldwide public health. Surgical procedures requiring the use of long-term, short-term, or biodegradable medical devices are frequently required for certain orthopedic disorders. These devices merge numerous natural or synthetic biomaterials to replace or repair many tissues including ligaments, tendons, cartilage and bone.
Issues with Durability and Long-Term Performance:
- Although long-term performance and durability are important factors, the biomaterials business is growing quickly. Patients' outcomes and commercial potential are impacted when functioning and efficacy are maintained over time. Once their intended uses are fulfilled, these biomaterials are either replaced or eliminated.
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Biomaterials Market Competitive Landscape
Leading businesses in the fiercely competitive global biomaterials market prioritise innovation, product development, and strategic alliances. Medtronic, Stryker Corporation, Johnson & Johnson, Zimmer Biomet alongside DSM Biomedical happen to be major players in this field. These companies have retained their top positions because of their diversified range of modern biomaterials, global distribution channels and aggressive research and development initiatives. An additional competition driver is from start-ups and entrants particularly in fast growing markets like Asia Pacific.
Biomaterials Market Top Player's Company Profiles
- BASF SE (Germany)
- Covestro AG (Germany)
- Celanese Corporation (US)
- Carpenter Technology Corporation (US)
- DSM (Netherlands)
- Corbion NV (Netherlands)
- Evonik Industries AG (Germany)
- Victrex Plc (UK)
- CeramTec GmbH (Germany)
- Mitsubishi Chemical Group Corporation (Japan)
- CoorsTek Inc. (US)
- Berkeley Advanced Biomaterials (US)
- CAM Bioceramics B.V. (Netherlands)
- Zeus Company Inc. (US)
- AMETEK Inc. (US)
- GELITA AG (Germany)
Biomaterials Market Recent Developments
- In July 2024, In developing a new vascular graft based on biomaterials, Medtronic aims at enhancing the long-lasting use of the graft in the case of patients suffering peripheral artery disease. This innovation is evidence to the fact that Medtronic is committed towards creating cardiovascular biomaterials for better patient care and wider range of biomaterials’ products.
- In May 2024, Zimmer Biomet introduced an innovative orthopaedic implant made from an exclusive, highly porous titanium biomaterial. This advancement further bolsters Zimmer Biomet’s position as a leader in orthopaedic biomaterials while reaffirming its commitment to providing advanced solutions for musculoskeletal health. The purpose of this discovery is to enhance osseointegration and long-term implant stability in joint replacement surgeries.
- In March 2024, The Stryker Corporation brought forth innovation with a new biodegradable polymer implant for soft tissue healing targeted at sports medicine. The implant serves as a long-lasting therapy for patients by stimulating natural recoveries of their body cells. Such a rationale is in line with Stryker's intentions of diversifying its collection of bio-materials in response to the growing field on sports health.
Biomaterials Key Market Trends
- Growing Requirement in Medical Applications for Biodegradable Biomaterials: Global biomaterials market is witnessing an increase in trend on the demand of biodegradable materials due to its use in tissue engineering, wound healing and drug delivery. Preference for these materials arises from their ability to break down within the body safely hence reducing follow-up procedures and improving the health of patients.
- Technological Progress Advancing Orthopedic Biomaterials Innovations: Innovations in nanotechnology and 3D printing are having a big impact on the orthopedic biomaterials business. These technologies facilitate the development of customized implants with enhanced mechanical and biocompatibility qualities, resulting in more efficacious therapies for musculoskeletal conditions and propelling market expansion.
Biomaterials Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, Due to factors such an ageing population, an increase in the prevalence of chronic illnesses, and technological developments in medicine, the global biomaterials market is expected to rise significantly. Still, some things like dissimilarity and costliness can hinder this kind of growth. Despite such difficulties, expansion of the market is expected to be fueled by increasing government funds allocation for R&D and introduction of new tools and treatments in various fields of medicine.
The market is expected to increase with an emphasis on using advanced biomaterials to improve patient outcomes, especially in areas like Asia Pacific where the demand for innovative treatments and healthcare infrastructure is expanding quickly.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 135.4 Billion |
| Market size value in 2031 | USD 438.1 Billion |
| Growth Rate | 15.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Biomaterials Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Biomaterials Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Biomaterials Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biomaterials Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biomaterials Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Biomaterials Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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