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The polymeric biomaterials market size is forecast to increase by USD 8.10 billion at a CAGR of 10.01% between 2023 and 2028. The rising number of hip and knee replacement surgeries is notably driving market growth. With the rising geriatric population across the world, the number of patients suffering from arthritis is simultaneously increasing. Additionally, ensuring the Department of energy in research and development is crucial to further advancements in medical technology, including pacemaker implant procedures and treatments for conditions such as rheumatoid arthritis.
Furthermore, collaborations between healthcare agencies like the Agency for Healthcare Research and Quality and dental services providers, including dentists and dental specialists, play a significant role in improving oral health and addressing issues such as edentulism and oral diseases. Moreover, advancements in surface modification techniques, such as those utilizing Poly(lactic-co-glycolic acid) (PLGA), are enhancing the biocompatibility and performance of medical implants, contributing to improved patient outcomes and reduced risks of complications, including atrioventricular block.
The market share growth by the natural polymers segment will be significant during the forecast years. Natural polymers include collagen, chitosan, hyaluronic acid, and alginate. These polymers and their derivatives are widely used in biomedical and pharmaceutical applications due to their biocompatibility, biodegradability, antimicrobial, antifungal, and biological properties. Collagen is widely used in the healthcare industry, particularly in medical devices and wound dressings. Advances in technology and manufacturing processes in the biomedical industry have led to the development of new collagen-based products, such as bone graft substitutes.
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The natural polymers segment was the largest and was valued at USD 4.54 billion in 2018. In addition, alginate is a biomaterial that finds many uses in biomedical science and engineering due to its advantageous qualities, such as biocompatibility. Because alginate hydrogels may be designed to perform several vital functions and have structural similarities to the extracellular matrices in human tissues, they have proven particularly appealing for use in wound healing, medication delivery, and tissue engineering applications. Thus, owing to the wide range of applications for natural polymers in the biomedical industry, the natural polymers segment of the market in focus is expected to grow during the forecast period.
Based on the application, the market has been segmented into orthopedics, cardiovascular diseases, dental, plastic surgery, neurology and others. The orthopedics?segment will account for the largest share of this segment.? Orthopedic polymeric biomaterials are used in the field of orthopedics to replace or repair damaged or diseased bone and joint tissue. Orthobiologics are materials derived from biological sources that can stimulate the growth and repair of bones and other tissues. The market is expected to grow during the forecast period due to the increasing demand for joint replacement surgeries and the growing global geriatric population. Additionally, advancements in biomaterials technology, such as the development of advanced degradable materials and the use of 3D printing, will also drive the growth of the orthopedic segment of the market during the forecast period.
North America is estimated to contribute 38% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.
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Further, the incidence of orthopedic diseases has increased significantly in North America. In certain cases, various surgeries, such as knee arthroplasty or total knee replacement, are recommended by physicians to resurface a knee joint that has been damaged by arthritis, where the knee replacements use polymeric biomaterials. The rising incidence and prevalence of various orthopedic conditions in the region are increasing the demand for knee replacements, which, in turn, is raising the demand for polymeric biomaterials. This is boosting the growth of the market in North America.
Furthermore, the geriatric population in North America is increasing significantly. The geriatric population is at a high risk of developing various orthopedic conditions, such as knee injuries and arthritis, which is spurring the demand for various surgeries that drive the demand for polymeric biomaterials in North America. This, in turn, is fostering the growth of the market in the region during the forecast period.
The market is driven by the rising number of hip and knee replacement surgeries, reflecting increased demand for effective treatments for musculoskeletal disorders (MSDs). An emerging trend in this market is the increasing application in clinical applications, driven by innovations in polymeric biomaterials and tissue engineering. However, the industry faces challenges, such as the presence of substitutes, which may impact market penetration and growth. Despite challenges, the market continues to witness advancements in biomaterial substances and controlled delivery of drugs, catering to the needs of patients undergoing surgeries for chronic diseases. Amidst lockdown hindrances, clinical research activities play a crucial role in driving innovation and ensuring the development of effective treatment solutions. With a focus on leveraging technologies such as 3D-printable biomaterials, stakeholders aim to address the evolving needs of patients while adhering to stringent regulatory standards set by organizations like the International Congress of Oral Implantologists (ICO).
The rising number of hip and knee replacement surgeries is notably driving market growth. With the rising geriatric population across the world, the number of patients suffering from arthritis is simultaneously increasing. For patients with arthritis, total hip/knee joint replacement is the best treatment option. The design, development, and manufacturing of knee, hip, and other implants that replace a particular failed body part or organ are gaining importance among the older population. It is estimated that the number of people suffering from arthritis will increase owing to the growth in the global geriatric population.
Moreover, they are used in medical devices or implants that replace particular body parts or functions, thereby helping such patients regain the use of the affected part. Thus, the rising geriatric population globally, which is highly vulnerable to arthritis of major joints, where treatments involve the use of implants made from polymeric biomaterials, will drive the growth of the market during the forecast period.
Increasing application in clinical applications is an emerging trend shaping market growth. Polymerics have received significant attention in recent years for biomaterial design, which encompasses both fundamental research and therapeutic applications. Because of their structural flexibility, biocompatibility, biodegradability, and the ability to be functionalized with the desired biomolecules, advanced polymers have been utilized to develop biomaterials.
In addition, it combined with inorganic nanoparticles, such as graphene oxide, gold nanoparticles, and hydroxyapatite, to endow them with unique and synergetic properties in clinical applications. Thus, the increasing use of polymeric biomaterials in clinical applications will have a positive impact on the growth of the market during the forecast period.
The presence of substitutes is a significant challenge hindering market growth. Patients undergoing dental treatment are familiar with metallic materials, such as titanium and gold, which are used for dental treatments, such as the fixation of crowns and tooth implants. Moreover, metallic biomaterials possess superior mechanical properties, such as fracture resistance, ductility, and yield strength. Metallic biomaterials are basically engineered systems that are designed to provide internal support to biological tissues. Metallic biomaterials are strong as well as resistant to degradation due to material fatigue. Therefore, they are widely used in orthopedic procedures such as joint replacements, orthopedic fixations, and stents.
In addition, metallic biomaterials are used in dental as well as cosmetic surgeries. Ceramic biomaterials are another type of biocompatible materials that are used in medical applications, such as dental implants, bone substitutes, and joint replacement surgeries. Thus, the presence of substitutes which provide accurate results at reasonable costs, will hinder the growth of the market during the forecast period.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.
Anika Therapeutics Inc - The company offers polymeric biomaterial solutions that produce fibers, films, and textile biomaterials which are used in a wide variety of medical device applications partnered with Fidia Advanced Biopolymers s.r.l.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including Anika Therapeutics Inc., Aspire Biotech Inc., BASF SE, Berkeley Advanced Biomaterials, Bezwada Biomedical LLC, Corbion nv, Covestro AG, Danimer Scientific Inc., International Polymer Engineering, Koninklijke DSM NV, Medtronic Plc, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corp., RAG Stiftung, Regenity, REVA Medical LLC, RevBio Inc., Stryker Corp., Victrex Plc, and Zimmer Biomet Holdings Inc.
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 research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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3D-printable biomaterials revolutionize the field, enabling the creation of tissue scaffolds with optimal porosity and degradation rates. Materials such as Poly (lactic-co-glycolic acid) (PLGA) and Polyethylene Glycol (PEG) enhance reliability and safety in minimally invasive cell delivery systems for cartilage repair.
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Market Scope |
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Report Coverage |
Details |
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Page number |
182 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.01% |
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Market Growth 2024-2028 |
USD 8.10 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.21 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 38% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Anika Therapeutics Inc., Aspire Biotech Inc., BASF SE, Berkeley Advanced Biomaterials, Bezwada Biomedical LLC, Corbion nv, Covestro AG, Danimer Scientific Inc., International Polymer Engineering, Koninklijke DSM NV, Medtronic Plc, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corp., RAG Stiftung, Regenity, REVA Medical LLC, RevBio Inc., Stryker Corp., Victrex Plc, and Zimmer Biomet Holdings Inc. |
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Market dynamics |
Parent market analysis, market report, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, market growth 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. |
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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
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