The global biomaterials market was valued at USD 25,277.8 million in 2012 and is expected to reach USD 33,600 million in 2019, growing at a CAGR of 4.1% during the forecast period 2013 to 2019.
Albany, NY -- (SBWIRE) -- 05/11/2016 -- The study on the biomaterials market for implantable devices takes into consideration all the materials that constitute this market, their applications, geographical reach and degree of success in the market. The report segments and studies the global biomaterials market for implantable devices by the following types: Metals, ceramics, polymers, and natural-origin biomaterials. For the purpose of this market study, each of these materials is further analyzed according to the application type as: Cardiology, dental, orthopedics, ophthalmology and the others segment that includes neurology, urology, and gastroenterology. For a bird's eye view of the regional market dynamics, the report also analyzes the biomaterials market for implantable devices in Europe, North America, Asia Pacific and Rest of the World (RoW).
The report provides figures on the current and forecasted market size of each of the segments mentioned above. The forecast period of this report spans from 2011 through 2019. Revenue generation of the overall market and its segments has been stated in USD million, with the base years being 2011 and 2012. To lend further clarity to the growth prospects of each segment within the biomaterials market for implantable devices, our analysts provide the compounded annual growth rate (CAGR) in % form for each market segment.
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Overview of the global biomaterials market for implantable devices
The biomaterials market for implantable devices was estimated to be worth US$25,277.8 million in 2012. This study finds that the market will exhibit a CAGR of 4.1% between 2013 and 2019, soaring to a market value of US$33,600 million by the end of 2019. Biomaterials can be derived from either natural or synthetic sources, and are finding groundbreaking applications in treating diseases and medical disorders such as cardiovascular problems, dental problems, bone cancer, tissue damage, and orthopedic injuries.
Biomaterials need to exhibit the unique characteristic of being biocompatible, which means that the body should physiologically accept them and they shouldn't cause an immunogenic reaction within the body. The biomaterials market for implantable devices has found materials such as polymers, certain types of metals, and ceramics as meeting these criteria, and these are the segments that are witnessing promising growth in this industry.
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Growth Drivers and Opportunities
According to the findings of this market research report, the biomaterials market for implantable devices will find a remunerative consumer base in the aging population that is pushing up the demand for graft transplants and medical implants. The average life expectancy of humans is on the rise, and continues to increase in densely populated emerging countries.
A growing incidence of diseases such as osteoporosis and arthritis will continue to propel the need for medical implants, which in turn utilize biomaterials. The focus remains on making implants and related procedures as comfortable and painless as possible among patients.
Overview of segments and their growth prospects
The report finds that as of 2012, metals as a biomaterial for implantable devices constituted the largest share within the global biomaterials market. The polymer biomaterials segment came a close second and continues to exhibit promising growth. TMR analysts predict that the polymers segment will witness the fastest growth within the biomaterials market for implantable devices between 2013 and 2019.
According to the report, as of 2012, orthopedic applications were seen to hold a considerable share in the global biomaterials market for implantable devices because of a high number of knee and hip replacement procedures. In the near future, the biopolymers segment will receive impetus from the ophthalmic applications.
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The report also finds that countries such as United States, Germany, Canada, France, Italy, U.K., and Spain are recording a high number of medical implant procedures, whereas the same remain sluggish in other regions. North America is the largest biomaterials market for implantable devices with Europe taking the second place globally. But the competition here remains cutthroat and this has prompted many players to venture into hitherto untapped markets in the Asia-Pacific region, such as Japan, China, South Korea, India, and Taiwan.
Companies mentioned in the biomaterials market for implantable devices study
The report profiles prominent names in the global biomaterials market for implantable devices, such as: AdvanSource Biomaterials Corporation, Biomet, Inc., Celanese Corporation, Collagen Matrix, Inc., Ceradyne, Inc., DuPont, Evonik Industries AG, Royal DSM, Corbion Purac, and Invibio, Inc.
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