The global biomaterials market is set to gain impetus from the increasing usage of a wide variety of biomaterials because of their clinical efficiencies. They also provide several benefits in wound healing applications. Fortune Business Insights™ published this information in a recent report, titled, “Biomaterials Market Size”, Share and Industry Analysis, By Material (Metallic Biomaterials, Ceramic Biomaterials, Polymers, and Natural Biomaterials), By Application (Cardiovascular, Dental, Orthopedic, Plastic Surgery, Urology, Gastroenterology, and Others), and Regional Forecast, 2020-2027.”
The report further mentions that the biomaterials market size was USD 110.0 billion in 2019 and is projected to reach USD 245.6 billion by 2027, thereby exhibiting a CAGR of 12.2% during the forecast period from 2020–2027.
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Leading Players operating in the Biomaterials Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
Wright Medical Technology, Inc.
Evonik Industries AG
DePuy Synthes Companies
DSM Biomedical, Inc.
An Overview of the Impact of COVID-19 on this Market:
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Rising Usage of Natural & Synthetic Biomaterials for Cardiac Repair to Aid Growth
Cardiovascular diseases are considered to be one of the major causes of death worldwide. Even though there are multiple pharmacological and surgical interventions that can be applied to enhance the quality of life of the patients affected by such diseases, less-invasive and cost-effective procedures are always more preferable. Both synthetic and natural biomaterials showcase high potential in cardiac regeneration and repair. Nowadays injectable biomaterials are used the most as they preserve cardiac functions, increase angiogenesis, and reduce left ventricular dilatation. However, there are numerous strict regulatory and clinical processes that the biomaterial-based devices have to go through to ensure their quality and efficacy. It may hamper the implantable biomaterials market growth.
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Metallic Biomaterials Segment to Lead Backed by Usage in Several Medical Applications
In terms of material, the metallic biomaterials segment held 30.1% biomaterials market share in 2019 and is likely to lead throughout the forthcoming period. They are specially developed to deliver internal support to biological tissues. They are mainly used for orthopedic fixations, stents, dental implants, and joint replacements. In addition to that, they possess various mechanical properties, such as swiftness. These make them best suited for load-bearing implants.
Detailed Table of Content:
Definitions and Assumptions
Prevalence of Key Indications (Cardiovascular Diseases, Orthopedic Disorders, etc) by Country/Region
Key Industry Trends
Key Industry Developments (Mergers, Acquisitions, and Partnerships)
Recent Advancements in Biomaterials
Global Biomaterials Market Analysis, Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Material
Market Analysis, Insights and Forecast – By Application
Market Analysis, Insights and Forecast – By Region
Middle East & Africa
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