The global Biomaterials Market was valued at USD 70.86 billion in 2016 and is projected to reach USD 267.19 billion by 2025, growing at a CAGR of 15.89% from 2017 to 2025.
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A biomaterial is any substance that has been engineered to interact with biological systems for a medical purpose – either a therapeutic (treat, augment, repair or replace a tissue function of the body) or a diagnostic one.
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1. Market Drivers
1.1 Increased Funds and Grants By Government Bodies for the Development of Novel Biomaterials
1.2 Increasing Demand for Implantable Devices
1.3 Growing Demand for Biomaterials in Plastic Surgery and Wound Healing Applications
1.4 Rising Number of Hip and Knee Replacement Procedures
1.5 Rising Geriatric Population and Subsequent Increase in Incidences of Cardiovascular Diseases
1.6 Increasing Awareness About Regenerative Medicine
2. Market Restraints
2.1 Stringent Clinical & Regulatory Processes
2.2 Unfavorable Healthcare Reforms in the U.S.
1. Global Biomaterials Market, by Application:
1.3 Plastic Surgery
1.4 Wound Healing
1.5 Tissue Engineering
1.6 Neurological/Central Nervous System
1.9 Other Applications
2. Global Biomaterials Market, by Type Of Material:
2.1 Metallic Biomaterials
2.4 Natural Biomaterials
3. Global Biomaterials Market, by Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Royal DSM
2. BASF SE
3. Corbion N.V.
4. Covestro (Subsidiary of Bayer AG)
5. Invibio Ltd. (Subsidiary of Victrex PLC)
6. Carpenter Technology Corporation
7. Evonik Industries AG
8. Berkeley Advanced Biomaterails, Inc.
9. Cam BioceramicsBv
10. Celanese Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the BiomaterialsMarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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