Biomaterials Market is Expected to Reach $64.2 billion | MarketsandMarkets™

/EIN News/ -- Chicago, March 27, 2024 (GLOBE NEWSWIRE) -- Biomaterials market in terms of revenue was estimated to be worth $45.2 billion in 2024 and is poised to reach $64.2 billion by 2029, growing at a CAGR of 7.3% from 2024 to 2029 according to a latest report published by MarketsandMarkets™. The growth of the biomaterials market is characterized by the increasing collaborations and partnerships by major market players and the emerging applications in new therapeutic areas. Rising focus on personalized medicine and increasing regulatory approvals in biomaterials are also predicted to drive the market.

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Biomaterials Market Scope:

Report Coverage	Details
Market Revenue in 2024	$45.2 billion
Estimated Value by 2029	$64.2 billion
Growth Rate	Poised to grow at a CAGR of 7.3%
Market Size Available for	2022–2029
Forecast Period	2024–2029
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Type, By Application
Geographies Covered	North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunity	Growing interest in bio-absorbable biomaterials
Key Market Driver	Growing demand for biomaterials in wound healing and plastic surgery

Based on type, the global biomaterials market is segmented into ceramic (carbon, calcium sulfate, aluminum oxide, calcium phosphate, zirconia,  and glass), polymeric (nylon, polyethylene, silicone rubber, polymethylmethacrylate, polyvinyl chloride, polyester, polyetheretherketone, other polymeric biomaterials), metallic (cobalt-chrome alloys, titanium & titanium alloys, gold, stainless steel, silver, magnesium, and other metallic biomaterials), and natural (fibrin, collagen, chitin, cellulose, alginate, chitosan, gelatin, silk, hyaluronic acid other natural biomaterials). The metallic biomaterials segment was expected to display the highest share of the maket in 2023 due to the rise in the usage of metals and the increasing population of people over 60.

Based on application, the global biomaterials market is segmented into Ophthalmology (Functional Replacement of Ocular Tissues, Intraocular Lenses, Synthetic Corneas, Contact Lenses, Other Ophthalmology Products), Orthopedic (Orthobiologics, Spine Surgery, [Spinal Fusion, Minimally Invasive Fusion, Motion Preservation & Dynamic Stabilization {Pedicle-based Rod Systems, Interspinous Spacers, Artificial Discs}], Joint Replacement [Knee Replacement, Hip Replacement, Shoulder Replacement, Other Joint Replacement Procedures], Bioresorbable Tissue Fixation [Interference Screws, Meshes, Suture Anchors, Meniscal Repair Tacks,], Fracture Fixation [Screws, Wires, Pins, Rods, Bone Plates]), Tissue Engineering (Nanomaterials, Scaffolds, Inorganic Nanoparticles), Neurological/Central Nervous System, (Cortical Neural Prosthetics, Neural Stem Cell Encapsulation Products, Hydrogel Scaffolds, Shunting Systems), Dental (Dental Bone Grafts & Substitutes, Dental Implants, Tissue Regeneration Materials, Dental Membranes), Cardiovascular (Catheters, Heart Valves, Implantable Cardiac Defibrillators, Vascular Grafts, Stents, Sensors, Guidewires, Other Cardiovascular Products), Plastic Surgery (Facial Wrinkle Treatment Devices, Craniofacial Surgery Products, Bioengineered Skins, Soft Tissue Fillers, Acellular Dermal Matrices, Peripheral Nerve Repair Devices), Wound Healing (Internal Tissue Sealants, Wound Closure Devices, [Staples, Sutures], Adhesion Barriers, Surgical Hemostats, Skin Substitutes, Hernia Meshes), Urinary (Urethral Stents, Urinary Catheters, Other Urinary Products) and Other Applications (Gastrointestinal, Drug Delivery Systems, Bariatric Surgery). In 2023, the orthopedic segment was estimated to account for the largest market share. The increase in the prevalence of orthopedic conditions is predicted to create increasing growth of the market in this segment.

Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. In 2023, North America was estimated to hold the dominant share of the biomaterials market, followed by Europe. Rising biomaterial-based research, the increasing prevalence of cardiovascular diseases, the steady growth incidence of cancer, and the increasing need for plastic surgeries are the key factors driving the growth of this market.

The APAC region is predicted to provide the fastest expanding base for biomaterials, driven by many factors like the increasing geriatric population and rise in cardiovascular disease prevalence.

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Biomaterials market major players covered in the report, such as:

• BASF SE (Germany)
• Covestro AG (Germany)
• Celanese Corporation (US)
• Carpenter Technology Corporation (US)
• DSM (Netherlands)
• Corbion NV (Netherlands)
• Evonik Industries AG (Germany)
• Victrex Plc (UK)
• CeramTec GmbH (Germany)
• Mitsubishi Chemical Group Corporation (Japan)
• CoorsTek Inc. (US)
• Berkeley Advanced Biomaterials (US)
• CAM Bioceramics B.V. (Netherlands)
• Zeus Company Inc. (US)
• AMETEK Inc. (US)
• GELITA AG (Germany)
• The RDI Group (Collagen Solutions (US) LLC)
• Biocomposites (England)
• Noble Biomaterials (US)
• Regenity (US)
• Kuraray Co., Ltd. (Japan)
• Solesis (US)
• Institut Straumann AG (Switzerland)
• Foster Corporation (US)
• CDI Products (US)
• and Among Others

These companies boast extensive product offerings and global operations, leveraging their R&D prowess and diversified portfolios to expand their market share. They strategically employ product launches, collaborations, acquisitions, expansions, and partnerships to strengthen their foothold through innovative products and broaden their business reach.

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This report categorizes the biomaterials market into the following segments and subsegments:

By Type

• Metallic Biomaterials
  • Stainless Steel
  • Titanium & Titanium Alloys
  • Cobalt-chrome Alloys
  • Silver
  • Gold
  • Magnesium
  • Other Metallic Biomaterials
• Ceramic Biomaterials
  • Aluminum Oxide
  • Zirconia
  • Calcium Phosphate
  • Calcium Sulfate
  • Carbon
  • Glass
• Polymeric Biomaterials
  • Polymethylmethacrylate
  • Polyethylene
  • Polyester
  • Polyvinylchloride
  • Silicone Rubber
  • Nylon
  • Polyetheretherketone
  • Other Polymeric Biomaterials
• Natural Biomaterials
  • Hyaluronic Acid
  • Collagen
  • Fibrin
  • Cellulose
  • Chitin
  • Alginate
  • Gelatin
  • Silk
  • Chitosan
  • Other Natural Biomaterials
• Cell therapy
  • Stem cell therapy
    • Cell transplantations
    • Stem cell therapy products
      • Autologous therapy
      • Allogenic therapy
  • Cell-based immunotherapy products
• Gene therapy
• Tissue engineering

By Application

• Cardiovascular
  • Catheters
  • Stents
  • Implantable Cardiac Defibrillators
  • Sensors
  • Heart Valves
  • Vascular Grafts
  • Guidewires
  • Other Cardiovascular Products
• Orthopedic
  • Joint Replacement
    • Knee Replacement
    • Hip Replacement
    • Shoulder Replacement
    • Other Joint Replacement Procedures
  • Spine Surgery
    • Spinal Fusion
    • Minimally Invasive Fusion
    • Motion Preservation & Dynamic Stabilization
      • Pedicle-based Rod Systems
      • Interspinous Spacers
      • Artificial Discs
  • Bioresorbable Tissue Fixation
    • Suture Anchors
    • Interference Screws
    • Meniscal Repair Tacks
    • Meshes
  • Orthobiologics
  • Fracture Fixation
    • Bone Plates
    • Screws
    • Pins
    • Rods
    • Wires
• Ophthalmology
  • Contact Lenses
  • Intraocular Lenses
  • Functional Replacement of Ocular Tissues
  • Synthetic Corneas
  • Other Ophthalmology Products
• Dental
  • Dental Implants
  • Dental Bone Grafts & Substitutes
  • Dental Membranes
  • Tissue Regeneration Materials
• Plastic Surgery
  • Soft Tissue Fillers
  • Craniofacial Surgery Products
  • Facial Wrinkle Treatment Devices
  • Bioengineered Skins
  • Peripheral Nerve Repair Devices
  • Acellular Dermal Matrices
• Wound Healing
  • Wound Closure Devices
    • Sutures
    • Staples
  • Internal Tissue Sealants
  • Surgical Hemostats
  • Adhesion Barriers
  • Hernia Meshes
  • Skin Substitutes
• Tissue Engineering
  • Scaffolds
  • Nanomaterials
  • Inorganic Nanoparticles
• Neurological/Central Nervous System
  • Shunting Systems
  • Cortical Neural Prosthetics
  • Hydrogel Scaffolds
  • Neural Stem Cell Encapsulation Products
• Urinary
  • Urinary Catheters
  • Urethral Stents
  • Other Urinary Products
• Other Applications
  • Drug Delivery Systems
  • Gastrointestinal
  • Bariatric Surgery

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East
  • GCC
    • Saudi Arabia (KSA)
    • United Arab Emirates (UAE)
    • Rest of GCC
  • Rest of Middle East
• Africa

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Key Market Stakeholders:

• Biomaterial product manufacturing companies
• Healthcare service providers (including hospitals & specialty clinics)
• National and regional research boards and organizations
• Research & development companies
• Clinical research organizations (CROs)
• Healthcare technology companies
• Biotechnology companies
• Research laboratories & academic institutes
• Market research & consulting firms
• Regulatory bodies

Report Objectives:

• To define, describe, and forecast the biomaterials market by type, application, and region
• To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
• To analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall biomaterials market
• To analyze the opportunities for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to six regions: North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and the Rest of Europe), Asia Pacific (Japan, China, India, South Korea, Australia, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina, and the Rest of Latin America), the Middle East {GCC [Saudi Arabia (KSA), United Arab Emirates (UAE), and the Rest of GCC] and the Rest of Middle East}, and Africa
• To profile the key players and analyze their market shares and core competencies2
• To track and analyze competitive developments, such as product launches, partnerships, agreements, collaborations, and expansions
• To benchmark players within the market using the proprietary “Company Evaluation Matrix” framework, which analyzes market players on various parameters within the broad categories of business and product excellence strategy.
• To benchmark players within the market using the proprietary “Company Evaluation Matrix” framework, which analyzes market players on various parameters within the broad categories of business and product excellence strategy.

Related Reports:

Dental Implants and Prosthetics Market

Collagen and Gelatin Market

Restorative Dentistry Market

Medical Ceramics Market

Dental Consumables Market

Research Insights: https://www.marketsandmarkets.com/ResearchInsight/biomaterial-market.asp

Content Source: https://www.marketsandmarkets.com/PressReleases/global-biomaterials.asp

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