Global Biomaterials Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Biomaterials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global biomaterials market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global biomaterials market size reached US$ 102.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 202.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.43% during 2023-2028.
Biomaterials are produced to be compatible with living organisms and facilitate their integration for therapeutic or diagnostic purposes. They comprise a wide range of substances, such as polymers, metals, ceramics, and composites, carefully selected and fabricated to meet specific medical or biological requirements. They replace or augment tissues and organs within the human body, facilitate drug delivery, support tissue regeneration, and enable diagnostic and therapeutic applications. They play a crucial role in improving patient outcomes, advancing medical treatments, and enhancing the quality of life. They do not elicit harmful responses from the immune system of the body and can function effectively within biological environments. They enable the development of artificial tissues and organs for transplantation and regenerative medicine.
They create drug delivery systems that can release medications in a controlled and targeted manner, which helps enhance the effectiveness of drug therapies, reducing side effects, and improving patient compliance. They serve as a valuable tool in biomedical research that enables scientists to study cell behavior, tissue growth, disease mechanisms while assessing biocompatibility and safety testing. They aid in wound healing by promoting tissue regeneration and preventing infections among individuals. Besides this, they assist in reducing pain and improving the mobility of a patient. As they are beneficial in providing scaffolds for cells to grow and promote tissue regeneration, the demand for biomaterials is increasing across the globe.
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Global Biomaterials Market Trends and Drivers:
Presently, the rising utilization of biomaterials to manufacture medical implants, such as artificial joints, dental implants, and cardiovascular stents, represents one of the significant factors contributing to the growth of the market. Apart from this, the increasing adoption of biomaterials for the development of diagnostic devices and assays, such as biosensors and lab-on-a-chip systems, to enable the detection of specific biomarkers and facilitate early disease diagnosis and monitoring is supporting the market growth.
Additionally, there is a rise in the need for advanced biomaterials for joint replacements among patients suffering from joint issues. This, coupled with the increasing employment of biomaterials to create biocompatible coatings for medical devices and prevent adverse reactions when these devices meet biological tissues, is offering lucrative growth opportunities to industry investors. In line with this, the growing demand for targeted and controlled drug release is positively influencing the market. Moreover, the rising adoption of eco-friendly biomaterials to reduce carbon footprints and maintain environmental sustainability is strengthening the growth of the market. Besides this, innovations in three-dimensional (3D) printing and nanotechnology enable precise customization of biomaterials that expand their applications in medical implants and tissue engineering are bolstering the market growth.
In addition, the escalating demand for biomaterials on account of the increasing prevalence of chronic diseases, such as diabetes and cardiovascular conditions, among the masses is offering a positive market outlook.
Global Biomaterials Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: 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.
The report segmented the market on the basis of region, type and application.
Breakup by Type:
- Natural Biomaterial
- Metallic Biomaterial
- Ceramic Biomaterial
- Polymeric Biomaterial
Breakup by Application:
- Neurology
- Cardiology
- Orthopedics
- Wound Care
- Dental
- Plastic Surgery
- Others
Breakup By Regions:
- 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 AfricaKey highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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