Rising Demand For Biomaterials in the Healthcare Industry

Rising Demand For Biomaterials in the Healthcare Industry

Provided By BIS Research

The biomaterials sector is growing steadily in the healthcare industry as the demand for biomaterials is increasing with the rise in the number of orthopedic surgeries and implants. Biomaterials interact with the biological system as they are biocompatible, although the compatibility of a biomaterial differs from one application to the other, and these come in natural as well as synthetic type. Natural biomaterials are either derived from natural sources which include animal tissues harvested from animal sources such as cows or pigs or are engineered in the laboratory. These biomaterials interact with the damaged part or tissue of the body and aid in the treatment, augmentation, repairing or replacement of the tissue in the body.

The major categories of biomaterials are metal based, polymer based, ceramic based, regenerative biomaterials, inorganic glass, radiopaque biomaterials, natural biomaterials and hybrid combinations biomaterials. These materials are predominantly used in the healthcare industry in various applications which include cardiovascular, orthopedic, ophthalmology, dental, wound healing, plastic surgery, neurological/central nervous system (CNS), tissue engineering and others such as drug delivery, urinary applications among others.

GROWTH DRIVERS

Biomaterials possess unique qualities which provide support for regrowth, are biodegradable and non-immunogenic. In addition to these qualities, several other factors such as increasing funds as well as aids by government for research purposes, rise in wound healing therapies & plastic surgeries, growing geriatric population, rising prevalence of cardiovascular diseases, increasing awareness of regenerative medicine, high rate of orthopedic disorders, and growing demand for implantable devices are collectively driving the biomaterials market towards growth. However, due to the biocompatibility issues of different materials as per different applications, stringent safety regulations and limitations of the biomaterials based products are hampering the growth of the market.

According to a new market research report by BIS Research, titled ‘Global Biomaterials Market - Analysis and Forecast (2017-2021)', the global biomaterials market is expected to reach $151.65 billion by 2021, growing at a CAGR of 16% between 2017 and 2021.

Various factors are adding up to the expansion and growth of this market in a significant way. Factors such as increasing obesity among the population, the introduction of biomaterials in cancer research, and rising patient awareness and improved lifestyle in growing economies such as India, China, and Brazil are expected to create various opportunities in the biomaterials market. Metal based biomaterials dominated the global biomaterials market with a share of approximately 24% in 2016, and this segment is projected to reach $34.62 billion by 2021.

MARKET BREAKDOWN

This market study provides a comprehensive insight into the global biomaterials market, including a market breakdown by biomaterial type, sub-type, end-use applications, and different geographical regions. The section including market dynamics and comprehensive insights contains revenue generated from the biomaterials market which is tracked to calculate the market size. The report highlights the key driving and restraining forces for this market while providing a comprehensive section of the application areas of the biomaterials market.

This report puts special emphasis on the market share of the type and applications of the biomaterials, globally. The report also undertakes industry analyses in order to examine the impact of various factors and understand the overall attractiveness of the industry. A separate segment in the report examines the role of the leading market players involved in this market.

Some of the key players in the biomaterials market are:

  • BASF
  • BBS
  • Berkley Advanced Biomaterial Inc.
  • Bioretec Ltd.
  • CAM Bioceramics
  • Carpenter Technology Corporation
  • Celanese Corp.
  • Collagen Solutions
  • Corbion
  • Covestro
  • Royal DSM
  • Evonik Industries
  • Invibio
  • Straumann
  • Zimmer Biomet.

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Published by Research and Markets

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