Global Biomaterials Market

Biomaterial is a synthetic or biological substance which is used to make devices that help in replacing a part or an organ of the body in a safe, reliable & compatible manner. Biomaterials can either be extracted from the nature or be synthesized using artificial processes. The usage of biomaterials is determined based on the factors such as bio-functionality, biocompatibility & availability. These biomaterials are used in drug delivery devices, plastic surgeries, joint replacements, heart valves and other medical implants.

Market Dynamics

The Global market for Biomaterials was approximately $54.65 billion in 2014 and is estimated to grow at a CAGR of 13.2% over the forecasted period, reaching $115 billion by the end of 2020.

Biomaterials find their application in medicinal areas as well like - Cardiovascular Medicine, Orthopaedics, Ophthalmology, immunology, Dental Medicine, infection and others.

The launch of new products in areas like wound healing, plastic surgery and neurology is expected to drive the growth of this market. Also, technological advancements, rise in the number of geriatric population, increased funds & grants by government bodies for research purposes worldwide, growing implantable devices market, superior properties of biomaterials, rising number of hip and knee replacement procedures, increasing awareness of regenerative medicines, growing incidence of chronic diseases are fuelling the growth of this market. Moreover, increasing obesity, introduction of biomaterials in cancer research, and improved lifestyle in emerging economies such as India, China, and Brazil are expected to create further opportunities in the biomaterials industry.

However, stringent safety and validation regulations, compatibility issues, and difficulty in wearing the products are some of the reasons hindering the growth of the biomaterials market.

Market Segmentation

The global biomaterials market can be segmented based on its application in the field of medicine, its material and its types.It finds application in Cardiovascular Medicine, Orthopaedics, Ophthalmology, immunology, Dental Medicine, infection and others. Given the high prevalence rates of cardiovascular diseases, the cardiovascular medicine segment dominates the global market in terms of share, followed by the orthopaedic segment. The material segment of the global biomaterials market includes ceramics, polymers, metallic and natural biomaterials. The type segment is further divided into Bioactive Biomaterials, Bio-inert Biomaterials & Bio-resorbable Biomaterials.

Amongst all the segments, polymers sub-segment is expected to present the fastest growth in the coming years attributing to its increased applications in healthcare.

Regional/Geographic Analysis

Based on geography, the global biomaterials market is segmented into Europe, North America, Asia Pacific and Rest of the World. Owing to the sophisticated and high-tech healthcare infrastructure and amicable reimbursement policies, North America is the largest market for biomaterials, followed by Europe. Because of rising patient awareness and improving lifestyle, along with increasing healthcare expenditure, Biomaterials market in emerging countries like India and china is expected to witness the highest growth rate in the Asia-Pacific region.

Key Players

Major players in this industry globally are Biomet, Landec, Celsense, Dentsply, Noble, DuPont, Invibio, Materion, Bayer, BASF, Midatech and Oasmia,

The report contains comprehensive analysis on:

--> Global Biomaterials Market Dynamics - growth drivers, restraints and opportunities

--> Global Biomaterials Market Segment - By method and by product

--> Global Biomaterials Market Regional Analysis:

--> Key Players in the Global Biomaterials Market