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The biomaterials market size is estimated to grow at a CAGR of 6% between 2022 and 2027. The market size is forecasted to increase by USD 12,907.35 million. The growth of the market depends on several factors, including the increasing prevalence of musculoskeletal diseases and disorders, increasing wound healing therapies, and rising demand for medical implants.
This biomaterials market report extensively covers market segmentation by type (metallic, ceramic, polymers, and natural), application (orthopedic, cardiovascular, dental, neurology, and plastic surgery and others), and geography (North America, Europe, Asia, and Rest of World (ROW). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising demand for medical implants is notably driving market growth, although factors such as stringent clinical and regulatory processes may impede growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising demand for medical implants is notably driving the market growth. Biomaterials are used in various medical devices, including implants, to replace or repair damaged tissues. Some of the common types of medical implants include hip and knee replacements, dental implants, and cardiovascular implants. The demand for medical implants is increasing, with the growing prevalence of chronic diseases and the rising geriatric population.
The properties of biomaterials are unique, which makes them ideal in medical implants. They can imitate the natural properties of human tissue, such as strength and flexibility. They also offer biocompatibility, as they can be easily integrated into the body. In addition, biomaterials can degrade over time, which enables the regeneration and growth of natural tissue. Moreover, the development of advanced biomaterials has led to the development of durable and effective implants, thereby resulting in better patient outcomes. Therefore, the demand for biomaterials is expected to grow during the forecast period.
The increasing research on regenerative medicine is a significant trend in the market. Regenerative medicine includes the use of biomaterials and other technologies that help repair or replace damaged tissues and organs or stimulate the natural healing process of the body. It is used for the treatment of various medical conditions, including cardiovascular disease, neurological disorders, and orthopedic injuries.
Biomaterials provide a framework for the growth of new tissue by promoting cell attachment. They also proliferate and regulate cell behavior. The demand for biomaterials is expected to grow significantly owing to advances in regenerative medicine research. The increasing demand for implantable medical devices is also driving the growth of the biomaterials market. Biomaterials are widely used in manufacturing devices that are used to treat conditions such as cardiovascular disease, orthopedic injuries, and cancer. These factors will support market growth during the forecast period.
The stringent clinical and regulatory processes may impede market growth. Adherence to these regulations is important for the introduction of new products into the market. Biomaterials must undergo strict testing and clinical trials to ensure that they are safe and efficient to be used before approval. However, the processes can be lengthy, costly, and unpredictable, which creates significant challenges for companies.
Regulatory agencies may require additional testing or changes to the design or manufacturing processes, which further results in delays in approval and increases the costs incurred by manufacturers. Moreover, such regulatory processes can prevent innovation, as companies may not be willing to invest in new products or technologies. Therefore, navigating the clinical and regulatory processes in different countries can impede the global biomaterials market growth during the forecast period.
The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Biomaterials Market Customer Landscape
Vendors 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.
CeramTec GmbH - The company offers biomaterials such as coating powders, specialty powders, and granules. Under the medical market segment, the company offers BIOLOX, DENSILOX, and ZERAMEX ceramic components for medical implants and also develops numerous medical equipment products, including include medical sensors.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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 13,936.76 million 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.
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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 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 the regional market growth. The increasing demand for implantable devices has also boosted the market growth in the region.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The outbreak of COVID-19 hindered the growth of the regional market in 2020 due to the implementation of stringent lockdowns. This, in turn, slowed down the production volume of biomaterials in the region, which hindered market growth in 2020. However, business activities in the region resumed with the easing of lockdowns in Q4 2020 and the initiation of large-scale COVID-19 vaccination drives in 2021. Vendors in the market in the region operated as per the guidelines laid down by regulatory bodies. Therefore, the regional market is expected to grow during the forecast period.
The biomaterials market report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The reports categorize the global biomaterials market as a part of the specialty chemicals market, which covers companies engaged in the manufacturing of various types of products under organic and inorganic chemicals. It also covers products and companies engaged in high-value-added chemicals used in the manufacturing of various products, including, but not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Biomaterials Market Scope |
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Report Coverage |
Details |
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Page number |
181 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
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Market growth 2023-2027 |
USD 12907.35 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.12 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 41% |
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Key countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
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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. |
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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 the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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