Biomaterials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Biomaterials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112024A5892
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Market Overview:

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.

A biomaterial refers to a matter, surface or construct that can be obtained from nature or manufactured in the laboratory using polymers, metallic components, ceramics or composite materials. It interacts with biological systems and assists in restoring different functions and facilitating healing among individuals after an injury or a disease. Consequently, it finds extensive applications in neurology, cardiology, orthopedics, ophthalmology, wound care, dentistry, and plastic surgery across the globe.

Global Biomaterials Market Report

Biomaterials Market Trends:

There is an increase in the number of individuals with musculoskeletal conditions around the world. This, in confluence with the rising geriatric population, represents one of the key factors impelling the growth of the market. Moreover, biomaterials are used in medical implants, including heart valves, stents, grafts, artificial joints, ligaments, tendons, hearing loss and dental implants, and devices that stimulate nerves. They are also utilized in dissolvable dressings and sutures, clips, and staples for wound closure. In addition, biomaterials aid in cardiac repair and regeneration as a carrier for drug delivery or as an extracellular matrix substitute scaffold. This, along with the burgeoning healthcare industry, is catalyzing the demand for biomaterials worldwide. Apart from this, advancements in molecular self-assembly, polymer synthesis, protein and peptide engineering, and microfabrication technologies have resulted in the introduction of next-generation smart biomaterials. These biomaterials can adapt their chemical and mechanical properties according to changes in physiological parameters and exogenous stimuli. This, coupled with the increasing focus of market players on product innovations to offer better services to end users, is positively influencing the market. Other factors strengthening the growth of the market include the rising prevalence of cardiovascular diseases and the increasing awareness among the masses about the advantages of biomaterials.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global biomaterials market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.

Breakup by Type:

  • Natural Biomaterial
  • Metallic Biomaterial
  • Ceramic Biomaterial
  • Polymeric Biomaterial
     

Breakup by Application:

  • Neurology
  • Cardiology
  • Orthopedics
  • Wound Care
  • Dental
  • Plastic Surgery
  • Others
     

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
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global biomaterials market was valued at US$ 102.8 Billion in 2022.

We expect the global biomaterials market to exhibit a CAGR of 11.43% during 2023-2028.

The rising demand for biomaterials, as they assist in restoring several functions and facilitating healing among individuals after an injury or a disease, is primarily driving the global biomaterials market.

The sudden outbreak of the COVID-19 pandemic had led to the postponement of elective neurology, cardiology, and orthopedics surgical procedures to reduce the risk of the coronavirus infection upon hospital visits and interaction with medical equipment, thereby negatively impacting the global market for biomaterials.

Based on the type, the global biomaterials market can be categorized into natural biomaterial, metallic biomaterial, ceramic biomaterial, and polymeric biomaterial. Currently, metallic biomaterial accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global biomaterials market include 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.

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Biomaterials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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