IMARC Group, a leading market research company, has recently releases report titled “Biomaterials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Biomaterials Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big Is The Biomaterials Market?
The global biomaterials market size reached US$ 102.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 202.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.43% during 2023-2028.
What are Biomaterials?
Biomaterials are substances that are specifically designed to interface with biological systems to treat, augment, or replace biological functions. They can be obtained from nature or manufactured in the laboratory by using polymers, metallic components, ceramics, and composite materials. Biomaterials are strong, lightweight, chemically inert, corrosion-resistant, etc., and aid in restoring numerous functions and facilitating healing among individuals after an injury or a disease. Consequently, they find wide-ranging applications in neurology, cardiology, orthopedics, ophthalmology, wound care, dentistry, plastic surgery, etc., across the globe.
What Are The Growth Prospects And Trends In The Biomaterials Industry?
The increasing number of individuals with musculoskeletal conditions is primarily augmenting the biomaterials market. Furthermore, the expanding geriatric population is positively influencing the global market. Apart from this, the widespread adoption of biomaterials to manufacture implantable cardiac defibrillators, catheters, stents, pacemakers, sensors, heart valves, vascular grafts, and guide wires that are used in cardiac repair, regeneration, surgical processes, etc., is acting as another significant growth-inducing factor.
Moreover, the rising usage of these substances in dissolvable dressings and sutures, clips, and staples for wound closure is bolstering the market growth. Besides this, the development of smart biomaterials capable of transporting bioactive molecules and transmitting bioelectric signals similar to biological tissues for accurate physiological functioning is also catalyzing the global market. Additionally, the growing advancements in molecular self-assembly and polymer synthesis are further propelling the global market. In line with this, the introduction of three-dimensional (3D) printing technology to create patient-specific devices for tissue engineering and drug delivery systems is expected to fuel the biomaterials market in the coming years.
What Is Included In Market Segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Natural Biomaterial
- Metallic Biomaterial
- Ceramic Biomaterial
- Polymeric Biomaterial
Breakup by Application:
- Neurology
- Cardiology
- Orthopedics
- Wound Care
- Dental
- Plastic Surgery
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- BASF SE
- Berkeley Advanced Biomaterials
- Carpenter Technology Corporation
- Collagen Matrix Inc.
- CoorsTek Inc.
- Corbion N.V.
- Dentsply Sirona
- Evonik Industries AG
- Johnson & Johnson
- Koninklijke DSM N.V.
- Medtronic plc
- Stryker Corporation
- Victrex plc
- and Zimmer Biomet
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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