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Three Key Growth Drivers That Will Take the Biomaterials Market for Implantable Devices to US$33,600 Million by 2019

Biomaterials Market for Implantable Devices (Material Type - Metals, Polymers, Ceramics and Natural, Applications - Cardiology, Orthopedics, Dental, Ophthalmology and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019


Albany, NY -- (SBWIRE) -- 01/02/2015 -- What is common between medical devices such as a hip joint, an artificial heart, a breast implant or a heart valve? All of these implants feature natural or synthetic biomaterials. Biomaterials, which occur in solid or liquid form, are usually made of different types of substances such as glass, carbon, ceramics, metals, polymers and other composites. One will rarely find biomaterials being used independently - they are often combined with other materials for medical implants. Today, the scope of biomaterials for implantable devices has expanded considerably. This has created a thriving, opportunity-laden biomaterials market for implantable devices. Surgeons and medical practitioners are increasingly making use of biomaterials for implantable devices in treating a variety of conditions and diseases such as bone cancer, dental problems, cardiovascular diseases, and orthopedic injuries.

With the discovery of new types of medical problems, treatment procedures have undergone a sea change. All of these factors have indirectly laid a strong foundation for the implantable devices market, which in turn depends on suppliers of biomaterials.

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Here's what research studies say about the future of the biomaterials market for implantable devices :

For a biomaterial to be successfully used with implantable devices, it needs to be biocompatible. A material is said to be biocompatible when it can be introduced within the body without proving toxic or damaging to other living tissues. And, biomaterials have to be easy to procure and affordable to patients. Keeping these characteristics in mind, there are only a handful of materials that qualify as biomaterials. These include: certain types of polymers, ceramics, metals, and natural-origin biomaterials.

According to a recent research report, the global biomaterials market for implantable devices was estimated to be worth US$25,277.8 million as of 2012. Come 2019 and this market would have soared to nearly US$33,600 million, registering a compounded annual growth rate (CAGR) of 4.1% from 2013 through 2019. This means that this market is poised to experience moderate, but positive growth.

Let's take a quick look at three major factors driving the biomaterials market for implantable devices:

Improved life expectancy: Medical breakthroughs and the availability of medicines have helped increase the life expectancy of individuals. According to World Population Prospects 2012 Revision published by the United Nations, from 2010-2013, the global average life expectancy at birth was estimated to be 71 years. The life expectancy of females (73.5 years) was higher than that of males (68.5 year). With humans living much longer, they are also more prone to suffering from age-related disorders such as osteoporosis and arthritis - conditions that can be corrected with medical implants. This factor also heavily influences the global biomaterials market for implantable devices.

Aging population: Many countries in the world, especially the developed ones, are witness a grey wave. This means that a significant population in these countries falls under the age group of 60 years and above. An aging body is most susceptible to various diseases and medical conditions, leading to massive demand for procedures that involve graft transplant and medical implants. A growth in the medical implants market will also benefit the biomaterials market.

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Medical technology breakthroughs: Several new biomaterials have been discovered in the recent past. But what has led people to carry out research and development in the biomaterials segment? The answer would be: A rising demand for better and more efficient implantable devices to treat different conditions. The biomaterials market for implantable devices has grown because medical implants with improved functionalities are being developed. This factor has also proven to be a major propeller for the biomaterials market for implantable devices as biomaterials are an essential component of medical implants.

While in recent years, metal-based biomaterials have topped the market, the future clearly belongs to polymers as biomaterials. Polymers are not only highly biocompatible, but they are also very flexible and durable. Until 2019, market experts predict that polymer biomaterials will be in great demand for implants heart valves, PTCA, contact lenses, catheters, and more.

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