The global biomaterials market size is estimated to be USD 121.4 billion in 2021 and is expected to witness a CAGR of 13.95% during the forecast period. Increasing incidence of chronic skeletal and musculoskeletal medical cases is a key driver responsible for the growth of the global biomaterials market. Additionally, R&D investment by biopharmaceutical companies for the development of novel products, increase in number of implantation & plastic surgeries, and growing demand for biologics for the treatment of chronic diseases are some of the other drivers propelling the market growth. However, high cost of biomaterial product development and risk associated with compatibility of biomaterials are expected to restrain the global market growth.
Based on material type, the market is segmented into natural, metallic, ceramic, and polymers. In 2021, the polymers segment accounted for a significant revenue share and is expected to grow with a lucrative CAGR during the forecast period. This can be attributed to the availability of polymer and wide application in tissue engineering and orthopedic implants globally. Natural biomaterials segment is projected to grow at a profitable CAGR during the forecast period. This is attributed to the associated benefits of the bio-product in contrast to synthetic biomaterials. Biomaterials offer benefits such as biodegradability, remodeling, and biocompatibility, thereby increasing their easy adoption in replacement or restoration of structurally and functionally damaged organs or tissues.
Based on application, the market is categorized into cardiovascular, dental, ophthalmology, wound healing, orthopedic, plastic surgery, tissue engineering, neurology, and others. In 2021, the orthopedic segment accounted for the dominant revenue share due to rising acceptance of metal biomaterials in orthopedic applications. High load-bearing capacity of biomaterial makes them favorable for use in orthopedic application worldwide. The plastic surgery segment is anticipated to grow at a lucrative CAGR during the forecast period due to the increasing number of plastic surgeries and application of biomaterials, thereby growing consumer awareness and adoption of safe plastic surgeries.
In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the development and awareness programs initiated by private and public organizations. Additionally, presence of leading biopharmaceutical companies, advanced healthcare infrastructure, and high investments in R&D in this region are fueling the biomaterials market growth. Asia Pacific market is projected to grow at the fastest CAGR over the forecast period owing to the strategic steps implemented by local players to strengthen their presence at a regional and global level.Competitor Insights Some of the key players in the biomaterials market are Noble Biomaterials, Inc. (U.S.); Johnson & Johnson (U.S.); Kruger Inc. (Canada); Dentsply Sirona (U.S.); Covalon Technologies Ltd. (Canada); BASF SE (Germany); Victrex plc (U.K.); Carpenter Technology Corporation (U.S.); CAM Bioceramics B.V. (Netherlands) and Evonik Industries AG (Germany). This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The biomaterials market report is categorized into the following segments and subsegments:
By Material Type
Based on material type, the market is segmented into natural, metallic, ceramic, and polymers. In 2021, the polymers segment accounted for a significant revenue share and is expected to grow with a lucrative CAGR during the forecast period. This can be attributed to the availability of polymer and wide application in tissue engineering and orthopedic implants globally. Natural biomaterials segment is projected to grow at a profitable CAGR during the forecast period. This is attributed to the associated benefits of the bio-product in contrast to synthetic biomaterials. Biomaterials offer benefits such as biodegradability, remodeling, and biocompatibility, thereby increasing their easy adoption in replacement or restoration of structurally and functionally damaged organs or tissues.
By Application
Based on application, the market is categorized into cardiovascular, dental, ophthalmology, wound healing, orthopedic, plastic surgery, tissue engineering, neurology, and others. In 2021, the orthopedic segment accounted for the dominant revenue share due to rising acceptance of metal biomaterials in orthopedic applications. High load-bearing capacity of biomaterial makes them favorable for use in orthopedic application worldwide. The plastic surgery segment is anticipated to grow at a lucrative CAGR during the forecast period due to the increasing number of plastic surgeries and application of biomaterials, thereby growing consumer awareness and adoption of safe plastic surgeries.
Regional Insights
In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the development and awareness programs initiated by private and public organizations. Additionally, presence of leading biopharmaceutical companies, advanced healthcare infrastructure, and high investments in R&D in this region are fueling the biomaterials market growth. Asia Pacific market is projected to grow at the fastest CAGR over the forecast period owing to the strategic steps implemented by local players to strengthen their presence at a regional and global level.Competitor Insights Some of the key players in the biomaterials market are Noble Biomaterials, Inc. (U.S.); Johnson & Johnson (U.S.); Kruger Inc. (Canada); Dentsply Sirona (U.S.); Covalon Technologies Ltd. (Canada); BASF SE (Germany); Victrex plc (U.K.); Carpenter Technology Corporation (U.S.); CAM Bioceramics B.V. (Netherlands) and Evonik Industries AG (Germany). This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The biomaterials market report is categorized into the following segments and subsegments:
Biomaterials Market, By Material Type (Revenue, USD Billion, 2021 - 2029)
- Natural
- Metallic
- Ceramic
- Polymers
Biomaterials Market, By Application (Revenue, USD Billion, 2021 - 2029)
- Cardiovascular
- Dental
- Ophthalmology
- Wound Healing
- Orthopedic
- Plastic Surgery
- Tissue Engineering
- Neurology
- Others
Biomaterials Market, By Region (Revenue, USD Billion, 2021 - 2029)
North America
- US
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA
Table of Contents
1. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Market Environment Analysis
6. COVID-19 Impact Analysis: Biomaterials Market
7. Market Analysis by Type of material
8. Market Analysis by Application
9. Regional Market Analysis
10. North America Biomaterials Market
11. Europe Biomaterials Market
12. Asia Pacific Biomaterials Market
13. Latin America Biomaterials Market
14. MEA Biomaterials Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
A selection of companies mentioned in this report includes:
- Noble Biomaterials Inc. (U.S.)
- Johnson & Johnson (U.S.)
- Kruger Inc. (Canada)
- Dentsply Sirona (U.S.)
- Covalon Technologies Ltd. (Canada)
- BASF SE (Germany)
- Victrex plc (U.K.)
- Carpenter Technology Corporation (U.S.)
- CAM Bioceramics B.V. (Netherlands) and Evonik Industries AG (Germany)
