Implantable Biomaterials Global Market Report 2024

The implantable biomaterials market size has grown rapidly in recent years. It will grow from $127.97 billion in 2023 to $144.1 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth observed in the historic period can be attributed to several factors, including clinical success leading to positive patient outcomes, advancements in tissue engineering, development of surface modification techniques, achieving significant regulatory milestones, and the introduction of biodegradable materials in this field.

The implantable biomaterials market size is expected to see rapid growth in the next few years. It will grow to $217.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. Forecasted growth relies on bioactive/bioresorbable materials, smart/responsive biomaterials, regulatory/safety standards, hybrid composites, and tissue engineering advancements. Anticipated trends include drug-eluting implants, enhanced biocompatibility, 3D printing/customization, regenerative medicine focus, and nanotechnology integration.

Government organizations' investment in the advancement of new biomaterials, as evidenced by allocations to projects such as Drexel University's USD 200,000 grant to the National Science Foundation, is a significant driver of growth in the implantable biomaterials market. This financial support fosters research on biomaterial-mediated control over macrophage behavior, influencing biomaterial vascularization. The backing from government entities is poised to fuel further advancements in implantable biomaterials.

The surge in instances of cardiovascular diseases is anticipated to propel the expansion of the implantable biomaterial market. Characterized by conditions impacting the heart and blood vessels, cardiovascular diseases are on the rise, creating a heightened demand for implantable biomaterials. These materials play a pivotal role in addressing cardiovascular issues, employed in various medical devices and procedures to repair or replace damaged tissues. As the prevalence of cardiovascular problems increases, the necessity for innovative biomaterials becomes paramount, aiming to enhance patient outcomes and improve their quality of life. Notably, statistics from March 2022 and May 2023 underscore the magnitude of the issue, citing the number of deaths attributed to heart attacks and the prevalence of cardiovascular diseases in the UK and the United States, respectively.

The implantable biomaterials market faces substantial challenges due to limitations associated with biomaterial-based products. Notably, metal biomaterials can undergo corrosion within the body, triggered by chemical reactions such as enzymatic and acidic processes, potentially leading to metal ion toxicity. Similarly, polymer biomaterial implants exhibit intensive interaction with the body, resulting in wear and tear and the absorption of essential nutrients and water from the blood. Additionally, certain biomaterial implants may hinder bone ingrowth, experience loosening over time, or become dislodged, thereby restricting their utility and exerting a negative influence on the growth of the implantable biomaterials market.

Leading companies in the implantable biomaterial market are strategically directing their efforts towards the development of cutting-edge technology and products rooted in biomaterial technology, particularly for orthopaedic surgical applications. Biomaterial technology, a discipline encompassing the development, design, and application of materials interacting with biological systems, serves as a focal point for innovation. An exemplar is Acuitive Technologies Inc., a US-based medical device manufacturer, which introduced CITREGEN in September 2021. CITREGEN, a biomaterial technology, is utilized in musculoskeletal surgeries, enhancing outcomes for patients. This innovative device facilitates the attachment of soft tissue grafts to bone in reconstruction surgeries, featuring a distinctive design. CITREGEN's chemical and mechanical properties, including citrate, phosphate, and calcium, make it well-suited for orthopaedic surgical applications. Notably, CITRELOCK, an implantable device derived from CITREGEN, exhibits compressive strength comparable to cortical bone, maintaining structural integrity throughout the healing phase. This pioneering technology represents the first thermoset biodegradable synthetic polymer employed in implantable medical devices.

In April 2022, Integer Holdings Corporation, a U.S.-based medical device company, successfully acquired Connemara Biomedical Holdings Teoranta for an undisclosed sum. This strategic acquisition positions Integer to control implantable biomaterial technology, fostering its growth in the medical device industry. Connemara Biomedical Holdings Teoranta, based in Ireland, specializes in the manufacturing of biomaterials for cardiovascular implants.

Major companies operating in the implantable biomaterials market report are BASF SE; 3M Company; Medtronic plc; Evonik Industries AG; Stryker Corporation; DuPont de Nemours Inc.; Celanese Corporation; Zimmer Biomet Holdings Inc.; Biomet Inc.; Koninklijke DSM NV; Arthrex Inc.; DePuy Synthes Companies; Carpenter Technology Corporation; Corbion NV; GELITA AG; Wright Medical Group NV; CoorsTek Inc.; CeramTec GmbH; Orthofix Holdings Inc.; Invibio Biomaterial Solutions plc; Keystone Dental Inc.; KLS Martin SE & Co.; Collagen Matrix Inc.; Cam Bioceramics BV; Aap Implantate AG; Berkeley Advanced Biomaterials Inc.; AdvanSource Biomaterials Corporation; Collagen Solutions plc; Surgival SL; SBM France SAS.

North America was the largest region in the implantable biomaterials market in 2023. Western Europe was the second largest region in the global implantable biomaterials market report. The regions covered in the implantable biomaterials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the implantable biomaterials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

These materials encompass metallic, ceramic, polymers, and natural substances. Metallic implants, often preferred in orthopedic prosthesis, enhance biological activities and are favored over polymeric and traditional ceramic biomaterials. They find applications in dental, cardiovascular, ophthalmology, orthopedic, and other medical fields, used across hospitals, ambulatory surgical centers, and specialty clinics.

The implantable biomaterials market research report is one of a series of new reports that provides implantable biomaterials market statistics, including implantable biomaterials industry global market size, regional shares, competitors with an implantable biomaterials market share, detailed implantable biomaterials market segments, market trends and opportunities, and any further data you may need to thrive in the implantable biomaterials industry. This implantable biomaterials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The implantable biomaterial market consists of sales of glass-ceramic and bioactive glasses and calcium phosphate cements. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.