Biomaterials Market to Witness Substantial Growth in the Next Five Years
Increasing cases of cardiovascular diseases and advancements
in medicinal innovation to drive global biomaterials market
According
to TechSci Research report, “Global Biomaterials
Market By Product (Implants, Valves, Joint Replacement, Contact Lenses and
Others), By Material Type (Metallic, Natural, Ceramics, Polymeric, Living Cell
and Tissue), By Type (Bioinert, Bioresorbable, Bio Tolerant and Bioactive), By Application
(Ophthalmology, Cardiovascular, Orthopedic, Wound Healing, Plastic Surgery,
Neurology, Dental, Others), By End User (Private Hospitals, Government
Hospitals, Specialty Clinics), By Region, Forecast & Opportunities, 2025”, the market is expected to grow at a significant CAGR until
2025. The reason behind the growth of biomaterials market is rising demand for
medical implants, growing trend and demand for plastic surgeries, rising
prevalence of musculoskeletal, neurological, orthopedic disorders and chronic
skeletal medical condition, coupled with heavy funding by government
organizations to launch new products worldwide. Additionally, biomaterials find
applications in various products including dental, derma, contact lenses, blood
vessel prosthesis, gene transfer and drug delivery. Moreover, growing aging
population base, rising number of hip and knee replacement procedures among old
age people and increasing number of cosmetic procedures worldwide are some
other key factors anticipated to drive the growth of biomaterials market. Furthermore,
scientists are continuously focusing on developing new types of biomaterials to
widen their application in life science. Development of new and improved
biomaterials is further fueling the market growth. People are also now getting
more aware of the advantages of biomaterials products. Countries like China and
India serve as major market for biomaterials due to the large population base and
increasing incidences of cardiovascular diseases.
However, there are some factors which might restrict
the growth of biomaterials market. High cost of biomaterial production and strict
rules & regulations in healthcare sector are some major barriers to the
growth of this market.
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The global biomaterials market is segmented based on product, material
type, type, application, end user, company and region. Based on material type,
the biomaterials market is segmented into metallic, natural, ceramics,
polymeric, living cell and tissue. Among them, the metallic biomaterial segment
dominated the market in 2019 owing to its application in orthopedic procedures
for bone support and replacement as they are strong and resistant to fatigue
degradation. Metallic biomaterials are also used in dental, cardiovascular, and
cosmetic surgeries.
Based on application, the global market for biomaterials has been
segmented into ophthalmology, cardiovascular, orthopedic, wound healing,
plastic surgery, neurology, dental and others. Orthopedic disorder is expected
to hold lion’s share during the forecast period, owing to the increase in
number of orthopedic surgeries using implants such as orthobiologics,
bioresorbable tissue fixation products, joint replacements, spine implants, and
nonconventional modular tumor implants.
Koninklijke DSM N.V., Bayer AG,
Corbion NV, Wright Medical Technology, Inc., Zimmer Biomet Holdings, Inc.,
Collagen Matrix, Inc., Noble Biomaterials Inc, Covalon Technologies Ltd,
Olympus corporation, Johnson & Johnson, Cook Medical, Smith and Nephew,
Becton Dickinson, Medtronic and Angiodynamics are some of the
leading players operating in global biomaterials market.
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“Based on application, Plastic
surgery and wound healing segments are expected to show robust growth until
2025 in biomaterials market. With advancement in healthcare industry,
biomaterials are being utilized in numerous application which is expected to boost
the global biomaterials market during the forecast period. Moreover, people are
now aware of the benefits of biomaterials and hence, they are not hesitant in trying
out its medical applications. Additionally, research and development activities
for development of bioinert and innovative materials is what needs to be done
to further fuel the growth of biomaterials market across the globe.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Biomaterials Market By Product (Implants,
Valves, Joint Replacement, Contact Lenses and Others), By Material Type
(Metallic, Natural, Ceramics, Polymeric, Living Cell and Tissue), By Type
(Bioinert, Bioresorbable, Bio Tolerant and Bioactive), By Application
(Ophthalmology, Cardiovascular, Orthopedic, Wound Healing, Plastic Surgery,
Neurology, Dental, Others), By End User (Private Hospitals, Government
Hospitals, Specialty Clinics), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global biomaterials
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global biomaterials market.
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