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Biomaterials Market Growth Opportunities by Regions, Type and Application; Trends Forecast to 2022
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Biomaterial is a nonviable material used in medical devices or during interaction with biological systems. It is an essential material used for medical applications to substitute a part or a function of body in reliable, safe, and physiologically acceptable method. It poses properties such as biocompatibility, high corrosion resistance, adequate strength, and biofunctionality. Some of the commonly used biomaterials include cellulose, silicone rubber, collagen, titanium, stainless steel, polyurethanes, poly (methyl methacrylate) and hydrogels. The emergence of innovative biomaterial products and advances in technology has improved biomaterials applications and performance.
Geographically, North America dominated the global market of biomaterial in 2015. Asia-Pacific is expected to witness the fastest growth, a CAGR of 18.3% during the forecast period. This is due to increasing geriatric population, increasing healthcare expenditure, increasing research & development, and growing incidence of cardiovascular diseases in the region.
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Some of the key companies operating in the global biomaterial market include Wright Medical Technology Inc., Corbion N.V., Royal DSM, Zimmer Biomet Holdings Inc., Collagen Matrix Inc., Berkeley Advanced Biomaterials Inc., and Cam Bioceramics BV.
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