NEW YORK, Nov. 27, 2024
NEW YORK, Nov. 27, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global biomaterials market size is estimated to grow by USD 12.76 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.68% during the forecast period. Increasing prevalence of musculoskeletal diseases and disorders is driving market growth, with a trend towards increasing number of joint replacement and arthroplasty surgeries. However, high cost of bioimplants and surgeries poses a challenge.Key market players include Algenesis Corp., Artoss Inc., BASF SE, Berkeley Advanced Biomaterials, CAM Bioceramics BV, Carpenter Technology Corporation, Celanese Corp., CeramTec GmbH, CoorsTek Inc., Corbion nv, Covestro AG, Dimension Inx., Evonik Industries AG, Gelita AG, Koninklijke DSM NV, Mitsubishi Chemical Group Corp., Noble Biomaterials Inc., Riton Biomaterial Co. Ltd., Victrex Plc, and Zeus Co. Inc..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 - 2022
Segment Covered
Type (Metallic, Ceramic, Polymers, and Natural), Application (Orthopedic, Cardiovascular, Dental, Neurology, and Others), and Geography (North America, Europe, Asia, and Rest of World (ROW))
Region Covered
North America, Europe, Asia, and Rest of World (ROW)
Key companies profiled
Algenesis Corp., Artoss Inc., BASF SE, Berkeley Advanced Biomaterials, CAM Bioceramics BV, Carpenter Technology Corporation, Celanese Corp., CeramTec GmbH, CoorsTek Inc., Corbion nv, Covestro AG, Dimension Inx., Evonik Industries AG, Gelita AG, Koninklijke DSM NV, Mitsubishi Chemical Group Corp., Noble Biomaterials Inc., Riton Biomaterial Co. Ltd., Victrex Plc, and Zeus Co. Inc.
Key Market Trends Fueling Growth
The biomaterials market is experiencing significant growth due to trends in regenerative medicine and personalized medicine. Key therapeutic areas include wound healing, plastic surgery, and implantable devices. Biocompatibility is crucial for these applications, with a focus on bioabsorbable biomaterials for orthopedic applications and metallic, polymeric, and ceramic biomaterials for various medical devices. Durability and long-term performance are essential factors, with tricalcium phosphate, polylactic acid, and polyglycolic acid being popular choices. Cardiovascular and dental applications are also driving demand, with research in bioresorbable materials and nanoparticles/microspheres for drug delivery systems. Manufacturing technologies, such as biofabrication and 3D printable biomaterials, are innovating the field. An aging population, musculoskeletal disorders, and chronic diseases like osteoarthritis and cardiovascular diseases require advanced medical solutions. Environmental risks and waste management are concerns, with eco-friendly alternatives and recycling efforts underway. Research grants, tax incentives, and minimally invasive procedures/surgical techniques support market growth. Preclinical and clinical trials are ongoing for traditional treatment modalities and new technologies like nanotechnology, autologous treatments, and allograft-based treatments. Bioengineering and biologically derived materials are also gaining attention, with a focus on controlled degradation, mechanical strength, and controlled release kinetics for sustained therapeutic levels. Infection rates and healing processes are key considerations, with a focus on minimizing risks and enhancing outcomes.
The global biomaterials market is experiencing growth due to the increasing number of outpatient joint replacement procedures. These surgeries, including knee, hip, shoulder replacements, and trauma and extremities reconstruction, are becoming more common due to advancements in surgical techniques, implants, and post-operative care management. Outpatient procedures offer several advantages, such as shorter hospital stays, increased patient satisfaction, and reduced costs for both patients and healthcare systems. These benefits have led to a preference for outpatient joint replacement surgeries over traditional inpatient procedures.
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Market Challenges
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Segment Overview
This biomaterials market report extensively covers market segmentation by
1.1 Metallic- Metallic biomaterials, including 316L stainless steel, cobalt-chromium alloys, and titanium-based alloys, are essential engineering materials used in biomedical applications due to their superior thermal conductivity and mechanical properties. These materials are extensively utilized in the manufacturing of medical devices for cardiovascular, dental, and orthopedic applications. Metallic biomaterials offer superior mechanical properties such as high fracture toughness, ductility, and yield strength, making them suitable for load-bearing or permanent deformation. In orthopedic procedures like joint replacements, orthopedic fixations, and stents, metallic biomaterials are widely used due to their strength and resistance to fatigue degradation. Additionally, the increasing demand for neuromuscular stimulation devices, which require good electrical conductivity, will drive the growth of the metallic segment of the biomaterials market during the forecast period.
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Research Analysis
The Biomaterials Market encompasses a wide range of materials used in various therapeutic areas, including regenerative medicine and personalized medicine. These materials find applications in wound healing, plastic surgery, implantable devices, and orthopedic applications, among others. Biocompatibility is a crucial factor in the success of these materials, with bioabsorbable biomaterials gaining popularity due to their ability to degrade over time and be replaced by natural tissue. Nanoparticles and microspheres are also key components, enabling controlled release kinetics for sustained therapeutic levels of therapeutic agents. Ceramics, hydrogels, and polymeric constructs are also commonly used, with nanotechnology and 3D printable biomaterials offering innovative solutions. Biologically derived materials and eco-friendly alternatives are also gaining traction in the market. Healthcare investments continue to fuel the development of new and advanced biomaterials, driving the growth of this industry.
Market Research Overview
The Biomaterials Market encompasses a wide range of materials used in medical applications, including regenerative medicine and personalized medicine. Therapeutic areas such as wound healing, plastic surgery, and implantable devices are major sectors. Biocompatibility is a key consideration for biomaterials, with bioabsorbable biomaterials gaining popularity in orthopedic applications. Metallic, polymeric, ceramic, and natural biomaterials are commonly used. Durability and long-term performance are essential for medical devices, but waste management and environmental risks are growing concerns. Manufacturing technologies like biofabrication and 3D printing are driving innovation. Key therapeutic areas include cardiovascular applications, dental applications, neurological applications, and ophthalmology applications. Drug delivery systems, nanoparticles, microspheres, and hydrogels are used for controlled release of therapeutic agents. Biodegradability, chronic disease management, and advanced medical technologies are current trends. The aging population and increasing prevalence of musculoskeletal disorders, cardiovascular diseases, and dental problems drive market growth. Research grants, tax incentives, and healthcare investments support innovation. Minimally invasive procedures and surgical techniques, preclinical and clinical trials, and eco-friendly alternatives are also significant factors.
Table of Contents:
1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation
7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com/
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SOURCE Technavio
