Biomaterials Market Size to Reach USD 2,12,405.2 Million by 2030 at CAGR 12.7% - Valuates Reports
BANGALORE, India, March 16, 2022 /PRNewswire/ -- The Biomaterials Market is Segmented by Type (Metallic, Polymeric, Ceramic, and Natural) and Application, (Cardiovascular, Dental, Orthopedic, Wound Healing, Plastic Surgery, Ophthalmology, Tissue Engineering, Neurological Disorders, and Drug Delivery Systems). The report covers global opportunity analysis, regional outlook, growth potential, industry forecast from 2021 to 2030.
The global biomaterials market size was valued at USD 64,874 Million in 2020 and is projected to reach USD 2,12,405.2 Million by 2030, registering a CAGR of 12.7% from 2021 to 2030.
Major Factors Driving The Growth Of The Biomaterials Market Are:
The biomaterials market is expected to grow due to an increase in the geriatric population, increased research on regenerative medicine, an increase in the prevalence rates of cardiovascular and orthopedic disorders, advancements in medical technology, and increased awareness about implantable devices. In addition, the government's increased funding for R&D in the field of biomaterials, as well as increased awareness of the benefits of biomaterials products, are propelling the market forward.
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Trends Influencing The Growth Of The Biomaterials Market:
The biomaterials market will benefit from the rising demand for implantable devices. The rising prevalence of cardiovascular diseases, orthopedic replacements, arthritis, and sports injuries will lead to an increase in implantable device demand. Chronic health conditions are also triggered by unhealthy lifestyles, a lack of physical activity, and an aging population. These factors are to blame for the patient population's growing preference for implantable devices. Implants and devices made of biomaterials improve the quality of our lives by extending the functionality of vital body systems.
The Biomaterials Market is expected to be fueled by increased funds and grants from government bodies and universities for the development of novel biomaterials. During the last few years, there has been a significant increase in the demand for and use of biomaterials in various medical applications all over the world. Several government agencies and universities have offered financial assistance in the form of investments, funds, and grants to encourage research into the development of novel biomaterials. Such research and funding activities are expected to spur the development of novel biomaterials, providing a plethora of opportunities for the biomaterials market to expand.
Biomaterials have become more versatile as a result of technological advancements, and their utility in various fields of healthcare, such as bioengineering and tissue engineering, has increased. The introduction of smart biomaterials that interact with biological systems for a variety of biomedical applications, ranging from the transport of bioactive molecules to the cellular functioning of engineered functional tissues, is driving the Biomaterials market growth.
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Biomaterials Market Share Analysis:
Based on region, North America is expected to grow at the fastest rate, with a CAGR of 12.5% over the forecast period.
Based on type, Due to its high specific strength, high corrosion resistance, and low modulus, the metallic segment dominated the global market in 2020 and is expected to continue to do so during the forecast period.
Because of the increased adoption of biomaterials in orthopedic applications and market players' continuous developments for the introduction of advanced orthopedic implants, the orthopedic segment held the largest market share in 2020 and is expected to remain dominant during the forecast period.
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This report includes the following companies; we can also add the other companies as you want.
- Carpenter Technology Corporation
- Corbion N.V
- Covalon Technologies Ltd.
- Evonik Industries, Linden Capital Partners (Collagen Matrix, Inc.
- Noble Biomaterials Inc.
- Royal DSM
- Victrex plc.
- Stryker Corporation (Wright Medical Group N.V)
- Zimmer Biomet Holdings, Inc.
- Others
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SIMILAR REPORTS
- The global Polymeric Biomaterials market size is estimated to be worth USD 35 Million in 2022 and is forecast to be a readjusted size of USD 59 Million by 2028 with a CAGR of 8.9% during the review period.
- The global Natural Biomaterials market size is estimated to be worth USD 62140 Million in 2022 and is forecast to a readjusted size of USD 99710 Million by 2028 with a CAGR of 8.2% during the review period.
- The global Hyaluronic Acid-based Biomaterials market was valued at USD 210.4 Million in 2020 and it is expected to reach USD 258.8 Million by the end of 2027, growing at a CAGR of 3.0% during 2021-2027.
- The global Dental Bone Graft Substitutes and Other Biomaterials market size is projected to reach USD 1094.5 Million by 2028, from USD 705.6 Million in 2021, at a CAGR of 6.0% during 2022-2028.
- The global Tissue Engineered Collagen Biomaterials market size is estimated to be worth USD 2722 Million in 2022 and is forecast to a readjusted size of USD 3839.4 Million by 2028 with a CAGR of 5.9% during the review period.
- The global Hyaluronic Acid-based Biomaterials market size is estimated to be worth USD 223.9 Million in 2022 and is forecast to a readjusted size of USD 267.3 Million by 2028 with a CAGR of 3.0% during the review period.
- The global Orthopedic Biomaterials market size is estimated to be worth USD 9716.9 Million in 2022 and is forecast to a readjusted size of USD 15590 Million by 2028 with a CAGR of 8.2% during the review period.
- The global Nerve Repair and Regeneration Biomaterials market size is estimated to be worth USD 309.9 Million in 2022 and is forecast to a readjusted size of USD 1049.2 Million by 2028 with a CAGR of 22.5% during the review period.
- The Global Biosimilar market was valued at USD 9752.7 Million in 2022, and it is anticipated to reach USD 22550 Million by 2028, registering a CAGR of about 15.0% during the forecast period (2022–2028).
- The global Biopharmaceuticals market was valued at USD 82330 Million in 2020 and is projected to reach USD 113300 Million by 2027, registering a CAGR of 4.7% from 2021 to 2027.
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To see the full list of related reports on the Biomaterials
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