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    Biomaterials Market Growth Analysis

    Biomaterials Market Growth Analysis
    Report code - SR2221 Delivery - 2 Weeks
    Biomaterials Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportu See more...

    Market Highlights

    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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    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, who are at a higher risk of osteoarthritis, osteoporosis, and other musculoskeletal problems, is another factor driving up demand for orthopedic implants. For the purpose of 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 moulding and extrusion capabilities.

    In order 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.

    Segments Analysis

    By Product Type

    The market is divided into metallic, natural, ceramics, and polymers. Due to the broad range of product applications, the polymer 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 biomaterials 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

    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 major players in the biomaterials market:

    • 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.

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

    • In order 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 in April 2022. (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.

    The overall competitive landscape has been affected due to many key factors.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s biomaterials market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    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 industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Biomaterials Market 

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The market is expected to grow at a CAGR of 16.3% during the forecast period.

    The market size was estimated to grow from US$ 123 billion in 2021 to US$ ~219 billion in 2028.

    The key Players in the market are 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.

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

    Due to the broad range of product applications, the polymer product category led the market in terms of revenue in 2021 and is predicted to maintain its dominance throughout the forecast period.

    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, who are at a higher risk of osteoarthritis, osteoporosis, and other musculoskeletal problems, is another factor driving up demand for orthopaedic implants.

    The market is studied from 2016 2028.

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