Rising Musculoskeletal Conditions and Smart Biomaterials Propel Global Market Growth to 2028

News provided by

Oct 26, 2023, 19:00 ET

DUBLIN, Oct. 26, 2023 /PRNewswire/ -- The "Biomaterials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global biomaterials market is experiencing significant growth, with a size of US$ 102.8 billion in 2022 and expected to reach US$ 202.7 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 11.43% during 2023-2028. Biomaterials are materials that interact with biological systems and are used in various medical applications, including neurology, cardiology, orthopedics, wound care, dentistry, and plastic surgery.

Key Market Trends:

Musculoskeletal Conditions: The increasing prevalence of musculoskeletal conditions, coupled with a growing geriatric population, is driving market growth. Biomaterials are used in medical implants, such as heart valves, stents, artificial joints, and dental implants, addressing various health needs.
Advanced Technologies: Advancements in molecular self-assembly, polymer synthesis, and microfabrication technologies have led to next-generation smart biomaterials. These biomaterials can adapt to physiological changes and stimuli, enhancing their applications.
Product Innovations: Market players are focusing on product innovations to offer better services. This includes the development of biomaterials for cardiac repair and regeneration, drug delivery, and extracellular matrix substitutes.
Cardiovascular Diseases: The rising prevalence of cardiovascular diseases is contributing to the demand for biomaterials, especially in the field of cardiology.
Awareness and Advantages: Increasing awareness among the public about the advantages of biomaterials is boosting market growth.

Key Market Segments:

The market is segmented based on type, application, and region:

By Type:

Natural Biomaterial
Metallic Biomaterial
Ceramic Biomaterial
Polymeric Biomaterial

By Application:

Neurology
Cardiology
Orthopedics
Wound Care
Dental
Plastic Surgery
Others

By Region:

North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

Key players in the global biomaterials market include BASF SE, Berkeley Advanced Biomaterials, Carpenter Technology Corporation, Collagen Matrix Inc., CoorsTek Inc., Corbion N.V., Dentsply Sirona, Evonik Industries AG, Johnson & Johnson, Koninklijke DSM N.V., Medtronic plc, Stryker Corporation, Victrex plc, and Zimmer Biomet.

Key Questions Answered:

What was the size of the global biomaterials market in 2022?
What is the expected growth rate during 2023-2028?
What are the key growth drivers of the biomaterials market?
How has COVID-19 impacted the market?
What are the types of biomaterials and their applications?
Which regions are key in the global biomaterials market?
Who are the key players in the market?

For more information about this report visit https://www.researchandmarkets.com/r/9qd6bu

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets