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The Global Biomaterials Market size is estimated to grow by USD 12.90 billion between 2022 and 2027, accelerating at a compound annual growth rate (CAGR) of 6% during the forecast period. Biomaterials are crucial in treating musculoskeletal disorders caused by orthopedic trauma or injury, which can severely damage ligaments, tendons, muscles, nerves, and bones, impacting daily activities and quality of life. Consequently, there is an increasing demand for orthopedic biomaterials to address such conditions. Arthritis, a leading musculoskeletal disorder and a significant cause of disability in older people in the US, is projected to affect around 78 million US adults by 2040. The elderly, at higher risk, contribute to the rising use of orthopedic biomaterial devices. Improved healthcare and longer life expectancy further drive the global market.
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The market share growth by the metallic segment will be significant during the forecast period. Metallic materials are used as biomaterials owing to their high thermal conductivity and mechanical properties. The growth of this segment is attributed to factors such as the extensive use of metals in manufacturing medical devices used in cardiovascular, dental, and orthopedic applications.
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The metallic segment was valued at USD 13.93 billion in 2017 and continued to grow until 2021. Metallic biomaterials are engineered systems that are designed to provide internal support to biological tissues. They are strong and resistant to fatigue and degradation. As a result, they are widely used in orthopedic procedures such as joint replacements, orthopedic fixations, and stents, as well as in dental and cosmetic surgeries. Moreover, the demand for metals for manufacturing neuromuscular stimulation devices is increasing owing to their high electrical conductivity, which will drive the growth of the segment during the forecast period.
Orthopedic biomaterials are utilized in orthopedics to repair or replace damaged bone and joint tissue. They find application in joint replacement implants, bone graft substitutes, and orthobiologics. Joint replacement implants use biomaterials like metals, ceramics, and polymers to replace damaged joints. Bone graft substitutes promote bone growth or replace missing bone. Orthobiologics, derived from biological sources, stimulate tissue growth and repair. The orthopedic market is growing due to increased demand for joint replacement surgeries and the aging population. Advancements in biomaterials technology, including biodegradable materials and 3D printing, further contribute to market growth.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period.
The market in North America is expected to grow due to an increase in biomaterial-based research, the growing incidence of cancer, and the increasing prevalence of cardiovascular diseases. The promotion of biomaterial usage by public and private agencies through events and funding initiatives is also expected to drive the growth of the market during the forecast period. In addition, the increasing adoption of technologically advanced joint reconstruction devices and improved healthcare infrastructure are driving regional market growth. The increasing demand for implantable devices has also boosted the market growth in the region.
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Technological advancements in bioengineering, including additive manufacturing and 3-D printing, have revolutionized the market, catering to the needs of the geriatric population by providing innovative solutions for osteoarthritis and osteoporosis treatment, such as porous-coated orthopedic implants and bio-resorbable tissue fixation, while also facilitating drug delivery approaches and enhancing bone growth through advanced materials like piezoelectric scaffolds and biopolymers. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
Increasing wound healing therapies is a major factor driving the market growth. Increasing wound healing therapies, driven by the growing demand from the geriatric population and those affected by conditions like osteoarthritis and osteoporosis, are major factors propelling the market growth. Biomaterials play a pivotal role in these therapies, facilitating tissue regeneration, healing enhancement, and scar reduction. Leveraging technological advancements in bioengineering and tissue engineering, along with innovative drug delivery approaches, biomaterials enable the development of customized wound dressings such as hydrogels, foams, and films. Additionally, advancements in biomaterials, including porous-coated orthopedic implants and bio-resorbable tissue fixation, aid in accelerating healing and reducing infection risks, addressing the rising prevalence of chronic wounds. This increasing demand for wound healing therapies, supported by biomaterials, will sustain market growth in the foreseeable future.
Increasing research on regenerative medicine is a major trend in the market. The market is driven by two key factors. Firstly, there is a growing focus on regenerative medicine research, which aims to repair and replace damaged tissues using biomaterials. This holds promise for various medical conditions like cardiovascular disease and neurological disorders. Secondly, there is an increasing demand for implantable medical devices, which heavily rely on biomaterials for their production. This includes devices used in treating cardiovascular disease, orthopedic injuries, and cancer. Overall, the market is expected to grow due to regenerative medicine and the demand for medical devices.
Stringent clinical and regulatory processes are a major challenge restraining market growth. A major challenge for the market is the stringent clinical and regulatory processes. Biomaterials used in various medical applications must undergo rigorous testing and clinical trials for safety and efficacy. These processes differ across countries and involve multiple stages of approval. They can be time-consuming, expensive, and unpredictable, posing challenges for companies introducing new biomaterial products. Regulatory agencies may require additional testing or modifications, causing further delays and increased costs. These processes also hinder innovation as companies may hesitate to invest in unapproved technologies. Overall, navigating these regulatory challenges is a significant hurdle for the market.
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The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Covestro- The company offers biomaterials such as biolox contoura, ceramic hip resurfacing, and dual mobility with biolox delta ceramic.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Market is experiencing remarkable growth due to advancements in bioengineering and tissue engineering, particularly in addressing musculoskeletal and chronic skeletal medical conditions prevalent in the geriatric population, such as osteoarthritis and osteoporosis. Biomaterial-based implants, including orthopedic implants like porous-coated implants, are revolutionizing orthopedic applications with enhanced load-bearing capacity and improved biocompatibility. Technological advancements, including additive manufacturing and smart biomaterials capable of bioelectric signaling, are driving innovation in drug delivery approaches and tissue regeneration.
Companies like DSM Biomedical and ProMed Pharma are pioneering the development of novel biomaterials, including biopolymers and bio-resorbable tissue fixation products. Polymer product segments, including advanced polymers and biodegradable materials, are gaining traction in surgical procedures, supported by funds, grants, and government initiatives. The global biomaterials market, as analyzed through research studies, industry trends, and patent analysis, underscores the importance of biomaterials in advancing medical implants and novel medical devices for various applications such as cardiovascular, orthopedic, dental, and neurological interventions.
The market encompasses a wide array of materials crucial for various medical applications, including orthopedic implants and biosensors. Techniques like Polymerase Chain Reaction (PCR) and Non-PCR methods facilitate advanced research and development in biomaterials. Innovations such as porous-coated orthopedic implants and Piezoelectric scaffolds offer enhanced functionality, while materials like poly-ether-ether-ketone and titanium are widely used for their superior elastic modulus and durability. Both natural biomaterials and synthetic biomaterials are employed, emphasizing factors like biodegradability and remodeling capabilities. Companies like DiFusion Inc pioneer advancements in biomaterial technology, exemplified by products like Xiphos-ZF spinal interbody device and Zfuze. These biomaterials play crucial roles in addressing challenges such as inflammation and fibrous tissue formation, paving the way for transformative medical solutions.
The market growth analysis report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Biomaterials Market Scope |
|
Market Report Coverage |
Details |
Page number |
181 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market growth 2023-2027 |
USD 12.90 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.12 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Algenesis Corp., BASF SE, Carpenter Technology Corp., Celanese Corp., CeramTec GmbH, CoorsTek Inc., Corbion nv, Covestro AG, Dimension Inx., Evonik Industries AG, Koninklijke DSM NV, Mitsubishi Chemical Corp., Riton Biomaterial Co. Ltd., Artoss Inc., Berkeley Advanced Biomaterials, CAM Bioceramics BV, Gelita AG, Noble Biomaterials Inc., Victrex Plc, and Zeus Co. Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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