The Global Biomaterials Market is projected to reach a value of over USD 262.5 billion by 2027 at a CAGR of around 11.8%.
Biomaterials are natural or synthetic origin materials which are used as implants to substitute damaged tissue or organ improve its functionality. These materials are used to interact with the biological system for medical purpose and treatments of dental, cardiovascular, neurological, and orthopaedic surgery. Biomaterial applications are finding prominence in the research on biomed engineering, biomineralization, and biomolecules.
Market Driver:
Increase in generic population, high prevalence of cardiovascular, neurological & orthopaedic disorders, and increase in awareness regarding advantages of biomaterial products are some of the factors that surging the demand for the biomaterials in various medical applications. This has attributed to various government bodies and universities are extending their help in the form of grants and funds in order to promote research & development of novel biomaterials. For instance, in March 2018, the National Science Foundation was granted USD 200 million by Drexel University granted for research on how biomaterial mediated control over macrophage behavior affects biomaterial vascularization. Thus, increasing grants and funds by government bodies and universities for the development of novel biomaterials has expected to drive the growth of the market during the forecasted period.
Market Challenge:
In spite of various advantages offered by biomaterials in the field of medical applications, there are some limitations associated with biomaterial-based products. For instance, the toughness and stability of bioceramics decrease at a particular temperature, which makes manufacturing difficult. Moreover, ceramic implants have a shorter life cycle as they undergo continuous loosening and dislocation. Likewise, metal polymers rust easily when exposed to harsh environments such as body acids and enzymes. Thus, limitations of biomaterials-based products are expected to hinder the product market up to some extent during the forecasted period.
The report on the biomaterials market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Type, Application, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Biomaterials Market, by Type
Biomaterials Market, by Application
Biomaterials Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE BIOMATERIAL MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY