Market Research Report
Global Biomaterials - Market and Technology Forecast to 2028: COVID-19 included Market Forecasts by Region, by Application, Current Market Overview, Market Trends and Leading Company Profiles
|Global Biomaterials - Market and Technology Forecast to 2028: COVID-19 included Market Forecasts by Region, by Application, Current Market Overview, Market Trends and Leading Company Profiles|
Published: February 17, 2020
Market Info Group
Content info: 258 Pages
Delivery time: 1-2 business days
On the interaction of the fields' biology and material, science comes biomaterials, they are genetically engineered specimens that can interact with the biological aspects of a living organism. They are used in therapeutic and diagnostic approaches to repair damaged or impaired parts of the human body.
The applications of biomaterials are widespread and due to technological advancements, the prospects of this market have been improving with time. Due to the use of biomaterials in therapeutics, medical diagnosis, as well as bioengineering and tissue engineering the growth of this sector has been exponential. Moreover, due to funding associated with scientific research in this field, it is expected to further propel the biomaterials market.
The global biomaterials market has a market size of USD 120 billion in 2020 and it is estimated to reach USD 369 Billion by 2028. The CAGR of this market is expected to be 15% during the forecast period 2020-2028. The market revenue generated for the Biomaterials market in the year of 2019 was estimated to be around USD 105 Billion. This report accounts for the value chain analysis of this market, it hereafter takes into perspective the end-users and the applications. To probe further into the analysis of this market, it is segmented based on Application and Region.
APAC is expected to be the largest and the fastest growing sector in the global market. This is due to the expanding outreach of the health care industry within this market. Moreover, the growing technological advancement and increasing infrastructure that supports R&D in areas like Japan further propel the growth of this sector. Moreover; the rapidly growing geriatric population coupled with the increasing number of ring cosmetic and plastic surgeries in Asian countries augments the growth of the market in a positive direction.
The growth of hip/ knee replacement surgery also supports the market growth of APAC. Furthermore, biomaterials are used to implant/rebuild/repair damaged parts of the human body hereafter it is also used as a diagnostic approach to treat cardiovascular diseases. Owing to the changing lifestyle of people this is one issue that has been prevalent and hereafter due to the application of biomaterials in its clinical treatment, it aids in the growth of this market. On the basis of the application, the plastic surgery segment is projected to drive the market this is due to the extensive use of biomaterials for covering gaping holes, soft tissues wounds, etc. By type, the polymer biomaterials market is anticipated to hold the largest market share.
"The Global Biomaterials- Market and Technology Forecast to 2028" report focuses on key market trends between the forecast period from 2020 to 2028. The Biomaterials market in this report is segmented based on Application and Region. The study period for this report is from 2018-2028
The market is segmented based on Type and Region.