PUBLISHER: The Business Research Company | PRODUCT CODE: 1426241
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426241
Polymer biomaterials, composed of pharmacologically inert substances sourced from natural or synthetic origins, serve to augment the functionality of damaged tissues and organs in various therapeutic treatments.
Key types of polymer biomaterials encompass silicone rubber, polyester, polymethyl methacrylate (PMMA), polyethylene (PE), polyvinyl chloride, among others. Silicone rubber within polymer biomaterials denotes a lightly cross-linked rubber matrix integrated with a polyacrylamide hydrogel, utilized for medical and biological applications. These biomaterials vary in nature, spanning both natural and synthetic compositions. Their applications span a wide array of medical fields including cardiovascular treatment, ophthalmology, dental procedures, plastic surgery, wound healing, tissue engineering, orthopedics, neurological disorders impacting the central nervous system, and more.
The polymer biomaterial market research report is one of a series of new reports from The Business Research Company that provides polymer biomaterial market statistics, including polymer biomaterial industry global market size, regional shares, competitors with a polymer biomaterial market share, detailed polymer biomaterial market segments, market trends and opportunities, and any further data you may need to thrive in the polymer biomaterial industry. This polymer biomaterial market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The polymer biomaterial market size has grown rapidly in recent years. It will grow from $66.45 billion in 2023 to $79.06 billion in 2024 at a compound annual growth rate (CAGR) of 19.0%. Historical growth can be ascribed to several factors, including a rising need for medical devices, heightened recognition of the advantages offered by polymer biomaterials, an increase in chronic disease prevalence, and a growing demand specifically for polymer biomaterials within ophthalmology applications. These factors collectively contributed to the growth observed in the past period.
The polymer biomaterial market size is expected to see rapidly grown in the next few years. It will grow to $146.61 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. Anticipated growth in the upcoming period can be linked to several factors such as the evolution toward customized and personalized medicine, advancements in regenerative medicine, the integration of 3D printing and biofabrication technologies, and the increasing population of older adults.
The global polymer biomaterials market is experiencing significant growth due to the expanding applications of polymeric biomaterials in tissue engineering. Polymers play a vital role in regenerative medicine and tissue engineering, offering flexibility and versatile properties that allow tailoring damaged tissue's physical, chemical, and mechanical properties. Their modifiability during synthesis, adapting to tissue regeneration capabilities, makes them valuable in various tissue engineering applications. Biodegradability, along with diverse geometry and structures, further enhances their suitability for specific tissue engineering needs. This expanding role of polymer biomaterials in tissue engineering is forecasted to drive market growth in the coming years.
The rise in chronic diseases globally is expected to fuel the expansion of the polymer biomaterial market. Chronic diseases, which persist over extended periods and progress gradually, drive the use of polymer biomaterials in developing implantable devices like drug pumps or neuromodulation electrodes. These devices aid symptom management and enhance patients' quality of life. With 74% of global deaths attributed to non-communicable diseases (NCDs) annually, as reported by the World Health Organization in September 2022, chronic diseases such as cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes significantly contribute to this statistic. The increasing prevalence of chronic ailments is thus a driving force behind the growth of the polymer biomaterial market.
Companies within the polymer biomaterial market are heavily investing in bioresorbable copolymers for medical device enhancement and prolonged stability. Notably, entities like Evonik are channeling resources into bioresorbable polymers designed for implantable medical devices. Their copolymer combines the hydrophobic traits of polylactide with the hydrophilic properties of polyethylene glycol, enabling degradation rates up to six times faster while bolstering mechanical strength. This innovation enhances biocompatibility, safety, and performance of implantable products, particularly in pediatrics and wound closure applications, accelerating the healing process and ensuring long-term stability.
Leading players in the polymer biomaterial market are pioneering new technologies such as Enzymatic Biomaterials (DEB) to bolster their market profitability. Enzymatic Biomaterials (DEB) technology, a novel platform designed for producing high-performing polysaccharides, offers an entirely new approach. For instance, in June 2023, International Flavors & Fragrances Inc. introduced Enzymatic Biomaterials (DEB) technology, a sustainable biopolymer platform enabling the creation of biopolymers with superior performance akin to petroleum-based polymers. This innovative platform facilitates customization and fine-tuning of biopolymer characteristics by directly transferring functionalities from petroleum-based polymer materials, signaling a significant leap in sustainable biopolymer production.
In December 2021, ExxonMobil Corporation, a prominent US-based natural gas company, successfully acquired Materia Inc., marking a strategic move with undisclosed financial details. This acquisition aims to introduce an innovative class of structural materials to the market by merging Nobel Prize-winning technology from Materia with ExxonMobil's proprietary technology and robust production capabilities. Leveraging ExxonMobil's extensive experience and stature in launching new technologies, combined with Materia's innovative culture, dedicated team, and state-of-the-art technology, this acquisition marks the onset of an exciting new phase for Materia Inc. As a US-based chemicals company specializing in crafting polymers and catalysts, Materia Inc. is set to benefit from ExxonMobil's resources and expertise, paving the way for collaborative advancements in the field.
Major companies operating in the polymer biomaterial market include BASF SE, Corbion N.V., Zimmer Biomet Holdings Inc., Royal DSM N.V., Koninklijke DSM N.V., Covestro AG, Evonik Industries AG, Starch Medical Inc., Victrex PLC, W. L. Gore and Associates Inc., Bayer AG, DSM Biomedical B.V., Purac Biomaterials, Ticona LLC, Invibo LLC, Covalon Technologies Ltd., Osteotech Inc., Medtronic PLC, Stryker Corporation, Synthes Inc., Mitsui & Co. Ltd., Polyfibre Industries Pte Ltd., Toray Industries Inc., Stein Fibers Ltd., Diyou Fiber Corporation, Bezwada Biomedical LLC, Collagen Solutions PLC, Cam Bioceramics B.V., CeramTec GmbH, Gelita AG, AorTech Biomaterials Pty Ltd., Berkeley Advanced Biomaterials Inc., Biocomposites Ltd., BioHorizons IPH Inc., Biomerics LLC, Bioteque Corporation, Carpenter Technology Corporation, CollPlant Holdings Ltd., CoorsTek Inc., EndoShape Inc., Heraeus Medical Components LLC, Kyocera Corporation, PolyNovo Biomaterials Pty Ltd., Secant Group LLC
North America was the largest region in the polymer biomaterials market in 2023. Western Europe was the second-largest region in the global polymer biomaterials market report. The regions covered in the polymer biomaterial market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the polymer biomaterial market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The polymer biomaterials market consists of sales of PCL, PVDF, PLGA, PVP, and nylon. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Polymer Biomaterial Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on polymer biomaterial market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for polymer biomaterial? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The polymer biomaterial market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.