PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1449536
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1449536
The global biomaterialss market is projected to reach USD 64.2 Bn by 2029 from USD 45.2 Bn in 2024, at a CAGR of 7.3% during the forecast period of 2024 to 2029. Factors such as the Increasing awareness of sustainable and biodegradable materials are predicted to uplift the market in the coming years. Additionally, rising prevalence of chronic diseases and aging populations worldwide is driving the demand for medical implants which will provide lucrative market growth. However, biocompatibility issues associated with biomaterials are predicted to restrict the market.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) Billion |
Segments | By Type, By Application |
Regions covered | North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa |
"The metallic biomaterials segment held the dominant share in the biomaterials market."
Based on type, the global biomaterials market is segmented into polymeric (polymethylmethacrylate, polyethylene, polyester, polyvinylchloride, silicone rubber, nylon, polyetheretherketone, other polymeric biomaterials), metallic (stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, silver, magnesium, and other metallic biomaterials), natural (hyaluronic acid, collagen, fibrin, cellulose, chitin, alginate, gelatin, chitosan, silk, other natural biomaterials), and ceramic (calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon and glass). The conventional use of metallic biomaterials is expected to drive the expansion of the biomaterials market.
"The largest share of 2023 was occupied by the Orthopedic segment"
Based on application, the biomaterials market is classified into Tissue Engineering (Inorganic Nanoparticles, Nanomaterials, Scaffolds), Ophthalmology (Intraocular Lenses, Synthetic Corneas, Contact Lenses, Functional Replacement of Ocular Tissues, Other Ophthalmology Products), Neurological/Central Nervous System, (Neural Stem Cell Encapsulation Products, Cortical Neural Prosthetics, Hydrogel Scaffolds, Shunting Systems), Cardiovascular (Guidewires, Catheters, Implantable Cardiac Defibrillators, Stents, Sensors, Vascular Grafts, Heart Valves, Other Cardiovascular Products), Wound Healing (Internal Tissue Sealants, Surgical Hemostats, Hernia Meshes, Wound Closure Devices, [Staples, Sutures], Adhesion Barriers, Skin Substitutes), Urinary (Urethral Stents, Urinary Catheters, Other Urinary Products), Dental (Tissue Regeneration Materials, Dental Bone Grafts & Substitutes, Dental Membranes, Dental Implants), Plastic Surgery (Acellular Dermal Matrices, Facial Wrinkle Treatment Devices, Bioengineered Skins, Craniofacial Surgery Products, Soft Tissue Fillers, Peripheral Nerve Repair Devices), and Other Applications (Bariatric Surgery, Gastrointestinal, Drug Delivery Systems). This is due to the rise in the prevalence of musculoskeletal injuries, osteoporosis, and osteoarthritis and other orthopedic disorders.
"APAC region estimated to grow at a faster pace."
The biomaterials market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. APAC region is projected to grow at the highest CAGR during the forecast period. are expected to support biomaterials market growth in the region. Increasing awareness of personalized medicine, technological advancements and innovation and rising incidence of chronic diseases are the reasons which support market growth in this region.
This report provides a detailed picture of the biomaterials market. It aims to estimate the size and future growth potential of the market across different segments, such as type, application and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall biomaterials market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.