Biomaterials Market Size – USD 108.6 Billion in 2019, Market Growth - CAGR of 14.8%, Market Trends– Advancements in Biomaterials platform and improved regulations for surgical procedures.
New York, NY -- (SBWIRE) -- 02/23/2021 -- According to the current analysis of Reports and Data, The Global Biomaterials Market was valued at USD 108.6 Billion in 2019 and is expected to reach USD 296.40 Billion by 2027 at a CAGR of 14.8%. A biomaterial is a substance or blends other than drugs that are derived from synthetic or natural sources. According to the U.S. National Institute of Health, such materials can be utilized whenever to substitute absolutely or incompletely any organ, tissue, or body function to improve individual life. Moreover, these can be useful in different advanced medical technologies such, plastic surgery, drug delivery devices, tissue engineering, and other medical implants. For instance, Metallic biomaterials are generally utilized in orthopedic procedures for bone support and replacement, as they are durable and resistant to weakness corruption. They are used in dental, cardiovascular, and cosmetic surgeries. Moreover, metals are used in neuromuscular stimulation devices because of their excellent electrical conductivity, thus driving the growth of the market for the forecast period.
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The key factors influencing the market include the growing geriatric population, acceleration in chronic disorders such as cardiovascular disorders, orthopedic disorders, and an upsurge in the sports injuries, which are anticipated to impel the market in the forecast period. For instance, according to the American Heart Association's insights in 2019, cardiovascular disease (CVD) remained the leading cause of death in the United States.
Top Players Covered in the Report Include:
Berkeley Advanced Biomaterials
Carpenter Technology Corporation
Cam Bioceramics B.V.
Besides, the increasing technological developments in the biomaterials industry, ascend in the adoption of implantable devices, heightening deprived to have better aesthetics boosting the demand for plastic surgeries using biomaterials are ascribed to propel the business in the coming years. For instance, the emerging 3D printing technology is being used for developing complex biomaterial structures. The requirement of resources and human resources for the manufacturing of such materials has been significantly reduced. Predicting the rampant investment in R&D in 3D printing innovation, the growth in the biomaterials market is significant.
However, the higher cost for the production of biomaterials and acceleration in the incompatibility due to infections and complications caused by the utilization of biomaterials is expected to hamper the business's growth shortly.
The COVID-19 impact:
The outbreak raised concern for the patient dealing with other underlying conditions. However, government authorities had laid down several guidelines to ensure patient safety and healthcare professional safety. The market has experienced a downturn over the weeks, which may continue over the next few months. The increased patient pool suffering from COVID-19 has disrupted the balance in healthcare. This pandemic has affected the Asia Pacific region the most, with China at the center of the outbreak. Most initiatives have come to a temporary halt in multiple countries changed. The production of Biomaterials and supply chain has been put on hold, causing losses to the manufacturers, dealers, and consumers. The market might be facing a downside for the period. With a rising health concern, the demand would be hitting the roof as soon as there is a development in the condition.
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Further key findings from the report suggest:
The significant market leaders are concentrating on the technological advancements for the biomaterials industry to outreach the maximum number of shares in the forecast period. For instance, In January 2019, ProMed Pharma and DSM Biomedical recently announced a business development partnership focused on polymeric drug delivery.
Natural products have gained massive popularity as a source of novel bioactive substance for the development of novel drugs, prompting the fastest growth of this segment
In November 2019, DiFusion Inc. gained FDA approval for Xiphos-ZF, a spinal interbody device, totally dependent on the other biomaterial Zfuze, a combination of poly-ether-ether-ketone and titanium.
As of 2019, North America is anticipated to hold largest share is biomaterials market. This is due to the presence of open and private offices promoting biomaterial usage by facilitating occasions and funding initiatives
Orthopedic application held the largest market share in the year 2019. The segment is additionally expected to grow at the rate of 14.6%, owing to it to the developing chronic diseases related to deformities related to bones and muscles. Expanding the incidence of chronic skeletal and musculoskeletal conditions is expected to raise the demand for biomaterials for orthopedics applications on a large scale.
In November 2019, Mitsubishi Chemical, a Japan-based organization, consented to an agreement with AdvanSource Biomaterials, which is U.S.-based, to acquire their thermoplastic polyurethane elastomer business.
In January 2019, DSM Biomedical partnered with ProMed Pharma to control its biomedical biomaterials with ProMed's micro molding and extrusion capabilities to produce novel controlled-release drug implants and corresponding combination devices.
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For the purpose of this report, Reports and Data have segmented into the global Biomaterials market on the basis of types, applications, and region:
Types Outlook (Revenue in Million USD; 2017- 2027)
Gold and silver alloys
Titanium and its alloys
Collagen and Gelatin
Applications Outlook (Revenue in Million USD; 2017- 2027)
Implantable Cardiac Defibrillators
Occular Tissue Replacement
Joint Replacement Biomaterials
Soft Tissue Fillers
Facial Wrinkle Treatment
Peripheral Nerve Repair
Acellular Dermal Matrices
Cortical Neural Prosthetics
Hydrogel Scaffold for CNS repair
Neural Stem Cell Encapsulation
Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of the Europe
Rest of Asia-Pacific
Middle East & Africa
The Biomaterials report is formulated through extensive primary and secondary research and further validated through industry experts and professionals. The data has been accrued through authentic sources, including interviews, documents, databases, and other sources to offer accurate insights into the industry to offer beneficial data to the readers and companies.
Key Features of the Biomaterials Market Report:
Detailed assessment and exhaustive understanding of the Biomaterials market
Significant insights into manufacturing processes, major barriers, and risks
8-year forecast estimation to offer information about the market size and market share on the global and regional levels
Evaluation of the key drivers, restraints, growth opportunities, threats, limitations, barriers, and other key elements
Identification of growth prospects and potential for the Biomaterials industry
Comprehensive analysis of the key market players and their strategies
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3.1. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2017 – 2027
Chapter 3. Indicative Metrics
3.1. Macro-Economic Indicators
3.1.1. Rising technological advancements
3.1.2. Favorable reimbursement policies
Chapter 4. COVID 19 impact assessment
4.1. Biomaterials market industry outlook (2020)
4.2. Biomaterials market expected to be negatively affected during mid-2020 due to the COVID-19 pandemic crisis
4.2.1. Scenario 1: Biomaterials market declines by xx%
18.104.22.168. Scenario 1 timeline
22.214.171.124. Key indicators for scenario 1
126.96.36.199. Covid-19 virus impact on Biomaterials market revenue, 2019–2027: scenario-1
4.2.2. Scenario-2: Biomaterials market declines by xx%
188.8.131.52. Scenario 2 timeline
184.108.40.206. Key indicators for scenario 2
220.127.116.11. Covid-19 virus impact on Biomaterials market revenue, 2019–2027: scenario-2
4.2.3. Scenario-3: Biomaterials market grows by xx%
18.104.22.168. Scenario 3 timeline
22.214.171.124. Key indicators for scenario 3
126.96.36.199. Covid-19 virus impact on Biomaterials market revenue, 2019–2027: scenario-3
4.2.4. Scenario-4: Biomaterials market grows by xx%
188.8.131.52. Scenario 4 timeline
184.108.40.206. Key indicators for scenario 4
220.127.116.11. Covid-19 virus impact on Biomaterials market revenue, 2019–2027: scenario-4
4.3. Supply chain stabilization
4.3.1. Supply scenario
4.3.2. Demand scenario
4.4. Customer mapping
4.5. Economic scenario
4.5.1. Key customers
4.5.2. Key products
4.5.3. Future opportunities and impact
4.5.4. Business threat identification
4.6. Upcoming strategies required to combat the current situation
4.7. Areas of high confidence of return on investment
Chapter 5. Global Biomaterials Segmentation & Impact Analysis
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