Biomaterials are artificially derived synthetic or natural materials that are used in medical technology to improve the functionality of damaged tissues and organs. These biomaterials are used to interact with biological systems for medical purposes and treatments of cardiovascular, dental, orthopedic, and neurological disorders.
Portland, OR -- (SBWIRE) -- 09/28/2017 -- The Biomaterials Market has piqued the interest of healthcare providers, owing to the wide array of biomaterials such as metallic, polymeric, ceramic, and natural types for treating a wide range of conditions and other biotechnological applications.
Increase in geriatric population, high prevalence of cardiovascular, neurological, & orthopedic disorders, and heavy funding by government organizations to launch new products, increase awareness regarding the advantages of biomaterials products, increase production of implantable products, and advancements in medical technology are the key drivers of the market. The growth of the market is hindered by factors, such as high cost of biomaterial production, occurrence of inflammatory responses due to compatibility issues, and complications associated with the use of these products.
The report analyzes the biomaterials industry based on type, namely, metallic, polymeric, ceramic, and natural types. Metallic biomaterials are further segmented into stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, and silver type. Polymeric biomaterials are further divided into polymethyl methacrylate (PMMA), polyethylene, polyester, polyvinylchloride, silicone rubber, nylon, and polyetheretherketone. Ceramic biomaterials are further segmented into calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon, and glass. Natural biomaterials include hyaluronic acid, collagen & gelatin, fibrin, cellulose, chitin, alginates, and silk. The market is segmented based on application into cardiovascular, dental, orthopedic, wound healing, plastic surgery, ophthalmology, tissue engineering, neurological disorders, and drug-delivery systems. The report includes the revenue generated through sales in these aforementioned segments of the market.
Key Findings of the Biomaterials Market
- In 2015, metallic biomaterials segment contributed significantly to the revenue of the global market, and is projected to maintain this trend during the forecast period.
- Among biomaterials, polymeric biomaterial segment is projected to grow rapidly registering a CAGR of 13.0% from 2016 to 2022.
- Tissue engineering is projected to be the fastest growing application segment of biomaterials market with CAGR of 35.6% during analysis period.
- North America is the leading region in the global biomaterials market.
- North America and Europe jointly contributed over three-fourths share of the overall revenue in 2015.
- Asia-Pacific biomaterials market is expected to be the fastest growing region during study period.
- Chinese biomaterials market is expected to grow at a significant CAGR of 18.5% from 2016 to 2022.
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