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

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.