Biomaterials Market Analysis | 2022-2028

“The Biomaterials Market was estimated at US$ 123 billion in 2021 and is expected to grow at a CAGR of 16.3% during 2022-2028 to reach US$ ~219 billion in 2028”.

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Market Dynamics

Introduction

Biomaterials are substances engineered to interact with biological systems, serving various medical and healthcare applications. They can be natural or synthetic and are designed to mimic or enhance the functions of living tissues and organs. Biomaterials are used in implants, such as artificial joints and dental fixtures, as well as in drug delivery systems, tissue engineering, and diagnostic tools.

Market Drivers

The demand for biomaterial-based implants is anticipated to increase due to the increased prevalence of musculoskeletal and chronic skeletal medical disorders, which will fuel market expansion. The growing elderly population at a higher risk of osteoarthritis, osteoporosis, and other musculoskeletal problems is another factor driving up demand for orthopedic implants.

For coronavirus detection and treatment, a variety of biomaterials and biomedical equipment are required. To stop the spread of the virus in this pandemic, early virus detection is essential. Utilizing current biomedical tools based on Polymerase Chain Reaction (PCR) or Non-PCR techniques, COVID-19 infection can be found.

In this market, revenue is generated by the development of smart biomaterials that interact with biological systems for a variety of biomedical applications, including the transfer of bioactive chemicals and the cellular operation of created functional tissues. The market is expanding as a result of businesses embracing continuing advances in innovative drug delivery techniques for the controlled release of medications.

For instance, DSM Biomedical and ProMed Pharma collaborated to develop novel controlled-release medication implants and combination devices in January 2019 by combining DSM's biomedical biomaterials with ProMed's micro molding and extrusion capabilities.

To prevent or treat the SARS-COV-2 illness, biomaterial technologies help to develop new, effective personal protective equipment, medication delivery systems, vaccinations, and new therapies. Furthermore, the study of the infection, testing, and development of vaccines and medicines were greatly influenced by cell-cultured models and engineered tissues.

As a result, the market has given rise to a variety of designs for a spectrum of diagnostic and therapeutic tools for the management of COVID-19, including quick and precise diagnostic platforms, cutting-edge vaccinations, powerful antiviral medications, and effective laboratory access models. Biomaterials are becoming more useful and adaptable thanks to technological developments in areas of medicine like tissue engineering and bioengineering.

Given their numerous advantages over synthetic biomaterials in terms of biodegradability, biocompatibility, and remodeling, natural biomaterials are expected to expand at a profitable pace during the projected period. They are utilized more frequently to replace or repair the structure and functionality of damaged organs or tissues as a result of these benefits.

An analytical tool called a biosensor is used to identify analytes biomolecules or biological species components made by microorganisms, such as tissues, enzymes, organelles, etc. The sensor primarily consists of three components: an electronic system with a signal amplifier, an electrochemical, electrical, optical, thermal, or magnetic resonance transducer, and a bio-receptor (enzymes, antibodies, nucleic acids).

Orthopedic implants that are totally or partially porous as well as porous coated have become quite popular in recent years. The porous features do this by lowering the elastic modulus and promoting bone formation around the implant. Manufacturing porous metallic and ceramic implants may be possible via additive manufacturing, 3-D printing, and powder metallurgy.

The market is anticipated to rise rapidly due to the increasing need for smart biomaterials that produce and transmit bioelectric signals that are similar to those of native tissues for precise physiological activities. Piezoelectric scaffolds are intelligent substances that are crucial in tissue engineering. They increase tissue regeneration at the damaged region by stimulating the signaling pathways.

Recent Developments

Important businesses are investing heavily to grow their presence and keep a competitive edge. They are also implementing techniques including contracts, collaborations, and collaborative models to improve their product catalog. Key vendors are also leaning toward creating more novel goods to broaden their selection of biomaterials. For example,

• In April 2022, to meet the unique requirements and demand for care in ambulatory surgery centers (ASCs) and office-based laboratories, Medtronic and GE Healthcare established a partnership (OBLs). As a result of this new agreement, customers will have access to a wide range of products, financial solutions, and excellent support.
• In March 2022, Evonik Industries officially introduced EUDRATEC Fasteric, a platform for oral drug delivery technology that goes straight over the released target and is utilized for enteric fortification and quick release in the upper smaller intestine. This product development reinforced Evonik's expansion while enhancing the biocompatibility, safety, and functionality of implantable goods utilized by medical device customers.

Segments Analysis

By Product Type

“The polymers product category led the market in terms of revenue in 2021”.

The market is divided into metallic, natural, ceramics, and polymers. Due to the broad range of product applications, the polymers product category led the market in terms of revenue in 2021 and is predicted to maintain its dominance throughout the forecast period. The segment's revenue generation is also anticipated to speed up due to the widespread availability of biopolymers and advanced polymers for bio-resorbable tissue fixation and other orthopedic applications.

One of the pillars of tissue engineering is polymeric biomaterials. Continuous technological advancements in areas including micro-manufacturing, surface modification, drug delivery, nanotechnology, and high-throughput screening are crucial to expanding the use of polymeric materials in tissue engineering.

By Application Type

“The orthopedics application segment dominated the market in terms of revenue”.

The market has been divided into cardiovascular, orthopedics, ophthalmology, wound healing, neurology, plastic surgery, dental, and others. The orthopedics application segment dominated the market in terms of revenue. One of the elements promoting the segment's expansion is the growing use of metallic biomaterials in orthopedic applications because of their strong load-bearing capacity.

Additionally, it is anticipated that ongoing efforts by industry players to introduce new orthopedic implants will boost revenue growth. For instance, DiFusion Inc. got FDA approval for its Xiphos-ZF spinal interbody device in November 2019.

This device is based on a different biomaterial called Zfuze, which is a mix of titanium and poly-ether-ether-ketone. The cytokine indicators that produce inflammation and are linked to the development of fibrous tissue are significantly decreased as a result of this novel biomaterial.

Regional Analysis

“North America dominated the market and generated the greatest revenue share in 2021”.

The biomaterials market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Due to measures implemented by numerous governmental and private organizations, North America dominated the market and generated the greatest revenue share in 2021. 

The National Science Foundation and the National Institute of Standards and Technology are two of them; they offer information and support relating to the use of biomaterials in biological applications. This has led to a rise in the use of biomaterials in this area. The regional market share has also been influenced by additional elements like advantageous government policies and the existence of numerous significant market participants in this area.

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Key Players

The following are the key players in the Biomaterials Market (arranged alphabetically)

• BASF SE
• Berkeley Advanced Biomaterials
• Carpenter Technology Corporation
• Collagen Matrix, Inc.
• CoorsTek Inc.
• Corbion
• Covalon Technologies Ltd.
• Dentsply Sirona
• Evonik Industries AG
• Invibio Ltd.
• Johnson & Johnson
• Medtronic plc
• Stryker
• Zimmer Biomet Holdings, Inc.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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