A recent report published by Infinium Global Research on biomaterials market provides in-depth analysis of segments and sub-segments in global as well as regional biomaterials market
Pune, India -- (SBWIRE) -- 01/16/2020 -- A recent report published by Infinium Global Research on Biomaterials Market (Type - Metallic, Polymeric, Ceramic, and Natural; Application - Cardiovascular, Dental, Orthopedic, Wound Healing, Plastic Surgery, Ophthalmology, Tissue Engineering, Neurological Disorders, and Drug Delivery Systems): Global Industry Analysis, Trends, Size, Share and Forecasts To 2024. According to the report, the global biomaterials market is projected to grow at a CAGR of 11.5% over the forecast period of 2018-2024.
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Biomaterials Market: Insights
A biomaterial is any substance that has been engineered to interact with biological systems for a medical purpose - either a therapeutic (treat, augment, repair or replace a tissue function of the body) or a diagnostic one. These materials are used to interrelate with biological systems for medical purposes and treatments of dental, neurological disorders, cardiovascular and cardiovascular. The study of biomaterials is known as biomaterials science and this can be applied in various advanced medical technologies such as plastic surgery, tissue engineering, drug delivery devices, and others. Uses of biomaterial are finding importance in the research on biomineralization, biomolecules, and Biomed engineering.
Biomaterials Market: Drivers and Opportunities
Major factors driving the growth of the biomaterials market are the rising number of hip and knee replacement procedures among old age people, growing orthopedic and neurology disorders, technological advancements growing demand for biomaterials in plastic surgery and wound healing applications worldwide. Additionally, funds & allowances by government bodies to launch new products globally, impulsive growth anticipated for wound healing applications and plastic surgery, growing increase consciousness about the advantages of biomaterials products, and developments in medical technology are also boosting the growth of this market. On the other hand factors such as the incidence of inflammatory responses due to compatibility issues, high cost of biomaterial production and difficulties connected with the use of these products are hampering the growth of the biomaterials market. Increasing investments for material research is anticipated to create better opportunities for the biomaterial market.
Biomaterials Market: Regional Insights
In terms of geography, North America holds the largest market share in the global biomaterials market followed by Europe and the Asia Pacific. The growth in the North America region is owing to increasing biomaterial-based research; growing investments by the government in the biomaterials market, high healthcare expenditure, and an increase in the aged population are some of the factors driving the growth in this region. Furthermore, the Europe region is driven by government support for research & development and availability of funds for research. In addition, the factors responsible for the growth in the Asia Pacific region are due to increasing healthcare expenditure, improved lifestyle, and introduction of biomaterials in cancer research in emerging countries such as India, and China will help the Asia-Pacific biomaterials market to grow.
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Biomaterials Market: Segment Covered
The report on the global biomaterials market covers segments such as type and application. On the basis of type, the global biomaterials market is categorized into metallic, polymeric, ceramic and natural. On the basis of application, the global biomaterials market is categorized into cardiovascular, dental, orthopedic, wound healing, plastic surgery, ophthalmology, tissue engineering, neurological disorders, and drug delivery systems.
Biomaterials Market: Leading Players
Some of the leading companies in global biomaterial markets are AdvanSource Biomaterials Corporation, Biomet, Inc., Celanese Corporation, Ceradyne, Inc., Collagen Matrix, Inc., Corbion Purac, DuPont, Evonik Industries AG, Invibio, Inc., Orthofix Holdings, Inc.
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About The Infinium Global research
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The breast reconstruction market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the breast reconstruction market.