The global biomaterials market size reached US$ 91.23 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 182.11 Billion by 2027 exhibiting a CAGR of 11.70% during 2022-2027.
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Biomaterials refer to natural or synthetic materials designed to interact with biological systems to facilitate healing or restore function in individuals after an injury or disease. They are either derived from nature or artificially manufactured in the laboratory using polymers, metallic elements, ceramics, or composite materials. They are widely used in medical implants, biosensors, drug delivery systems, and devices to supplement or replace natural body functions. As a result, biomaterials find extensive applications across neurology, cardiology, orthopedics, ophthalmology, wound care, dentistry, and plastic surgery.
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Biomaterials Market Trends and Drivers:
The global biomaterials market is primarily driven by the increasing prevalence of musculoskeletal conditions and cardiovascular diseases. Additionally, the surging product adoption in cardiac repair and regeneration as a career drug delivery or extracellular matrix substitute scaffold is another major growth-inducing factor.
Moreover, there has been widespread product adoption in dissolvable dressings, clips, sutures, and staples to facilitate wound closure. In line with this, the rising applications of biomaterials in medical implants, such as hearing loss and dental implants, stents, artificial joints, tendons, and heart valves, have catalyzed the product demand. Furthermore, the development of next-generation smart biomaterials due to recent advancements in molecular self-assembly, polymer synthesis, and protein and peptide engineering has propelled market growth.
Other factors, including the expanding healthcare industry, aging population, growing awareness regarding the benefits of biomaterials, and product innovations, are also anticipated to create a favorable market outlook.
The report has been segmented the market into following categories:
Breakup by Type:
- Natural Biomaterial
- Metallic Biomaterial
- Ceramic Biomaterial
- Polymeric Biomaterial
Breakup by Application:
- Wound Care
- Plastic Surgery
- 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
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List of Major Key Players:
The major players in the market are 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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