According to the new market research report "Biomaterials Market by Type of Materials (Metallic, Ceramic, Polymers, Natural), Application (Cardiovascular, Orthopedic, Dental, Plastic Surgery, Wound Healing, Neurological disorders, Tissue Engineering, Ophthalmology) - Global Forecast to 2025", published by MarketsandMarkets™, the global Biomaterials Market is projected to reach USD 47.5 billion by 2025 from USD 35.5 billion in 2020, at a CAGR of 6.0% during the forecast period.
This market is driven by the factors such as increasing demand for medical implants, rising geriatric population, growing acceptance of implantable medical devices, and technological advancements in medical device manufacturing.
Biomaterials are materials that are used for medical purposes. They are designed to interact with biological systems, such as human tissue and organs, to replace or support biological structures, such as bones and blood vessels. Biomaterials can also be used to deliver drugs to target specific areas of the body.
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The biomaterials market is divided into two major categories: synthetic biomaterials and natural biomaterials. Synthetic biomaterials include polymers, metals, ceramics, and composites. Polymers are used in the production of medical devices, such as prostheses, drug delivery systems, and implants. Metals, such as steel and titanium, are used to fabricate medical implants, such as orthopedic implants, dental implants, and cardiovascular implants. Ceramics, such as hydroxyapatite, are used to fabricate bone grafts and other bone-related implants. Natural biomaterials include collagen, alginate, chitosan, and elastin.
The biomaterials market is further segmented into product types, applications, and regions. On the basis of product types, the market is segmented into biopolymers, metals and alloys, ceramics, and composites. On the basis of applications, the market is segmented into orthopedic and dental, cardiovascular and angioplasty, ophthalmology, drug delivery, and others. On the basis of regions, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Asia Pacific is the fastest-growing region of the biomaterials market.
The biomaterials market is segmented into North America, Europe, the Asia Pacific (APAC) and Rest of the World (RoW). Asia Pacific is the fastest-growing region of the biomaterials market. This regional segment offers significant growth opportunities to key players operating in the biomaterials market owing to the supportive regulatory framework to improve healthcare infrastructure, high production of titanium metal and its products in China, Japan’s growing healthcare industry, increasing geriatric population, rising cases of hip knee replacement procedures, rising number of cosmetic and plastic surgeries in India, lucrative medical devices industry, and favorable tax policies in China.
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Key Market Players
Some of the prominent players in the biomaterials market are BASF SE (Germany), Covestro AG (Germany), Celanese Corporation (US), Corbion (Netherlands), Royal DSM (Netherlands), Evonik Industries (Germany), Carpenter Technology Corporation (US), Berkeley Advanced Biomaterials (US), Cam Bioceramics B.V. (Netherlands), CoorsTek Inc. (US), CeramTec (Germany), and GELITA AG (Germany).
This report categorizes the global biomaterials market into the following segments and subsegments:
- Metallic Biomaterials
- Polymeric Biomaterials
- Natural Biomaterials
- Plastic Surgery
- Wound Healing
- Tissue Engineering
- Neurological/Central Nervous System Applications
- Other Applications
- North America
- Asia Pacific (APAC)
- Rest of the World (RoW)
- Royal DSM (Netherlands) and ProMed Pharma (US) partnered for the development of novel sustained release drug delivery solutions in the polymeric drug delivery area.
- Covestro AG (Germany) signed an MoU with a group of ten companies and two research organizations with an aim to build a Composite Application Center (CAC) in Singapore. This was aimed to develop end-to-end solutions for advanced composites, such as thermoplastic materials.
- Celanese Corporation (US) announced an expansion of its production facility of thermoplastic co-polyesters. This expansion is expected to support the demand of its global engineered
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