Biomaterials Market By Material Type [(Metal (Alloy, Pure Metal), Ceramic (Inert, Bioresorbable), Polymer, Natural Materials, Composites)], And Application (Heart Disease, Orthopedic, Opthalmic, Dental Application, Neurostimulator) - Global Forecast to 2023

The Biomaterials Market will grow at a CAGR of 8.8% from 2018 to 2023 to reach USD 128.7 billion by 2023. Biomaterial is the growing field that focuses on the development of biocompatible materials to replace or augment the diseased or degenerated tissue of the human body. According to the American Heart Association, in 2017, cardiovascular disease (CVD) accounts for approximately 800,000 deaths in the U.S., or one out of every three deaths. Among Americans, an average of one person dies from CVD every 40 seconds. Coronary heart disease (CHD) accounts for the majority of CVD deaths, followed by stroke and heart failure. More than 90 million Americans carry a diagnosis of CVD with over 45% of non-Hispanic blacks live with CVD in the U.S. In addition, on a global level, CVD accounts for around 31% of all deaths. The estimated cost of CVD will be USD 1,044 billion by 2030.

With the growing ageing population – the retired population is projected to increase by almost 50% by 2025 and is projected to approach 100 million over the next 50 years, with one in three European citizens over 60 – and greater life expectancy is likely to increase disease prevalence and thereby the demand for medical devices in the region.

The development of biomaterials has improved the diagnosis, treatment, and monitoring of injury and illness significantly. In addition, continuing advances in medical software design now allow surgeons to use accurate models to assist them in preparing for increasingly complex surgeries. The invention of novel biomaterials, therefore, relies on multi-disciplinary innovation and imagination. Such developments offer greater hope for patients and may have far-reaching implications on the growth of the biomaterials market, globally.

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Key Findings from Biomaterials Market Report:

Metallic Biomaterials Dominates the Global Market

The use of implants has grown dramatically over the past years, driven by growing aging population and thereby the increasing incidence & prevalence of chronic diseases, and the desire of the patients to maintain the same level of activity and quality of life. Consequently, the demand for high-performance implantable biomaterials that can address unique challenges in cardiology, vascular therapy, orthopedics, trauma, spine, dental, and wound care has also been increasing steadily. Metals are used as biomaterials due to their excellent electrical and thermal conductivity and mechanical properties. Moreover, the availability of bioactive ceramics like hydroxyapatite has been improving its bone conductivity. Therefore, the wide adoption of metals in various applications has been significantly improving the patient’s life in recent years.

Cardiovascular application Segment Driving Gains

Heart failure is one of the leading causes of morbidity and mortality all over the world. More than 5 million patients are suffering from chronic heart failure post-myocardial infarction caused due to ischemic heart disease. The disease develops over a period of time due to loss of cardiomyocytes. The condition is further aggravated due to complications related to obesity, hypertension, diabetes, smoking, and alcohol consumption. Currently available treatments for diseased blood vessels, heart valves, and myocardium include organ transplantation from one individual to another, tissue transfer from a healthy site to the diseased site in the same individual (such as coronary artery bypass with autologous vein and Ross operation), and replacement by using artificial prosthesis (including synthetic vascular grafts, mechanical and biological valves and left ventricular assist device). However, advanced therapy such as tissue engineering helps to develop biological substitutes that restore, maintain, and improve tissue or organ function. This is emerging as an alternative approach to treat cardiovascular diseases. This alternative approach can be a permanent solution, a cost-effective treatment in the long term, and does not have any need of supplementary therapies that can further drive the gains in this application area.

China to Witness Fastest Growth

While North America dominates the global biomaterials market, Asia-Pacific (APAC) is estimated to be the fastest-growing region due to the presence of a significant patient pool, especially in rural/remote areas with limited healthcare access; aging population; and rising burden of chronic diseases such as diabetes, cardiovascular diseases, and arthritis. In APAC, China provides lucrative growth opportunities for the biomaterials market players. Large population base and rising patient pool with chronic diseases that require extensive treatment for prevention of such diseases, government health reforms, and well-established biomedical research laboratories in the country lay the groundwork for enormous market potential.

Scope of Biomaterials Market Study

This industry study presents historical value market data (2016 and 2017), estimated current year data (2018) and forecasts for 2023 for the following segments. The study also evaluates company market shares and analyzes industry competitors including Koninklijke DSM N.V. (The Netherlands), Corbion N.V. (The Netherlands), EPTAM Plastics, Ltd. (U.S.), DiSanto Technology, Inc. (U.S.), CoorsTek Medical LLC (U.S.), Carpenter Technology Corporation (U.S.), Zapp AG (Germany), United Titanium, Inc. (U.S.), CAM Bioceramics B.V. (The Netherlands), Celanese Corporation (U.S.), Victrex Plc (U.K.), BASF SE (Germany), Evonik Industries AG (Germany), Zimmer Biomet Holdings, Inc. (U.S.), and Wright Medical Group N.V. (U.S.) among others.

Scope of Biomaterials Market Report:

Biomaterial Market by Type of Material:

• Metals & Alloys
  • Alloys
    • Stainless Steel
    • Cobalt Base Alloys
    • Magnesium Base Alloys
    • Titanium Base Alloys
    • Others
  • Pure Metals
    • Titanium
    • Niobium
    • Zirconium
    • Gold
    • Silver
    • Others
  • Ceramics
    • Inert Ceramics
      • Alumina
      • Zirconia
      • Carbon
    • Bioactive Ceramics
      • Bioactive Glasses & Glass Ceramics
      • Others
    • Bioresorbable Ceramics
  • Polymers
    • Polymethyl Methacrylate (PMMA)
    • Polyethylene
    • Polyester
    • Polyvinyl Chloride (PVC)
    • Silicone Rubber
    • Nylon
    • Polyether Ether Ketone (PEEK)
    • Polylactic Acid, Poly Glycolic Acid, and Poly (Lactide-Co-Glycolide)
    • Other Polymers
  • Natural Materials
    • Hyaluronic Acid
    • Collagen
    • Gelatin
    • Fibrin
    • Cellulose
    • Chitin
    • Alginate
    • Silk
  • Composite Materials

Biomaterial Market by Application:

• Cardiovascular
  • Catheters
  • Stents
  • Cardiac Defibrillators
  • Pacemakers
  • Sensors
  • Heart Valves
  • Vascular Grafts
  • Guidewires
  • Ventricular Assist Devices
• Orthopedic
  • Joint Replacement
    • Knee Replacement
    • Hip Replacement
    • Shoulder Replacement
    • Others
  • Bioresorbable Tissue Fixation
  • Spine
    • Spinal Fusion
    • Minimally Invasive Fusion Surgeries
    • Motion Preservation and Dynamic Stabilization
  • Fracture Fixation
    • Bone Plates
    • Screws
    • Pins
    • Rods
    • Wires
  • Orthobiologics
• Ophthalmology
  • Contact Lenses
  • Intraocular Lenses
  • Synthetic Corneas
  • Others
• Dental
  • Dental Implants
  • Dental Prosthetics
  • Dental Abutments
  • Dental Bone Grafts & Substitutes
  • Dental Membranes
• Neurostimulators
  • Spinal Cord Stimulators
  • Deep Brain Stimulators
  • Sacral Nerve Stimulators
  • Vagus Nerve Stimulators
  • Gastric Electrical Stimulators
• Other Applications
  • Wound Healing
  • Plastic Surgery
  • Urinary Applications
  • Gastrointestinal Applications
  • Tissue Engineering
  • Bariatric Surgery

Biomaterial Market by Geography:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Rest of Asia-Pacific
• Latin America
• Middle East & Africa

Key questions answered in Biomaterials Market report:

Growing adoption of metallic biomaterial will propel the overall biomaterials market

• How does the metals and alloys will increase the adoption of biomaterials in various applications?
• How are the leading players utilizing the advantages of metal and alloys in their products?
• How is the regulatory assessment for various types of biomaterials across the globe?

Cardiovascular application accounted for the largest share of the biomaterials market

• What factors are contributing to the frequent usage of biomaterials in cardiovascular surgeries?
• How does the penetration of biomaterials in cardiovascular differ from other applications?

The Asia-Pacific biomaterials market favors both larger and local manufacturers that compete in multiple segments

• What are the top competitors in this market and what strategies do they employ to gain shares?
• What factors are driving growth and which market segments have the most potential for revenue expansion over the forecast period?
• What strategies should new companies look to enter this market use to compete effectively?
• What are the major drivers, challenges, opportunities, and trends in the global biomaterials market?
• Who are the major players in various countries and what share of the market do they hold?
• What are the geographical trends and high growth regions/countries?