Biomaterials Market Size Expected to Reach $212.40 Billion by 2030 | CAGR of 12.7%

Biomaterials market size was valued at $64.87 billion in 2020 and is projected to reach $212.40 billion by 2030, registering a CAGR of 12.7% from 2021 to 2030. Biomaterials are non-drug substances, suitable for inclusion in systems, which augment or replace the function of bodily tissues or organs. Biomaterial science can be installed and operated in numerous advanced medical technologies, such as tissue engineering, plastic surgery, drug delivery devices, and other medical implants. Biomaterials are primarily employed as controlled drug release methods in drug delivery systems. Biomaterials are porous bio-ceramics that are widely utilized to deliver medications and other biologically active substances in various matrices. They are also useful in biomedical engineering, biomineralization, and biomolecule research.

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Carpenter Technology Corporation, Corbion N.V, Covalon Technologies Ltd., Evonik Industries, .Linden Capital Partners (Collagen Matrix, Inc.), Noble Biomaterials Inc., Royal DSM, Victrex Plc

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/89

𝗖𝗼𝘃𝗶𝗱-𝟭𝟵 𝗦𝗰𝗲𝗻𝗮𝗿𝗶𝗼:
The COVID-19 virus causes illness ranging from common cold to more severe respiratory diseases. The revenue of global biomaterials market also declined in 2020 due to the global economic recession led by the COVID-19 pandemic. For instance, orthopedics implant surgeries and non-essential dental procedures, have been delayed due to the COVID-19 pandemic, which also decreases the demand for biomaterials. Thus, the outbreak of COVID-19 has negatively impacted the biomaterials market.

𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/89

The biomaterials market is segmented on the basis of type, application, and region. By type, it is bifurcated into metallic, polymeric, ceramic, and natural. Metallic biomaterials are segmented into stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, and silver. Polymeric biomaterials are divided into polymethyl methacrylate (PMMA), polyethylene, polyester, polyvinylchloride, silicone rubber, nylon. Ceramic biomaterials are segmented into calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon, and glass. Natural biomaterials comprise hyaluronic acid, collagen & gelatin, fibrin, cellulose, chitin, alginates, and silk. The metallic segment was the major shareholder in 2020, owing to their high specific strength, high corrosion resistance, and low modulus. In addition, they are highly used in orthopedics, dental, cardiovascular, and neurological permanent and bioresorbable implants, which drive growth of the segment.

By application, it is segmented into cardiovascular, dental, orthopedic, wound healing, plastic surgery, ophthalmology, tissue engineering, neurological disorders, and drug delivery systems. The orthopedic segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to rise in demand of biomaterials in orthopedic applications and continuous developments for the introduction of advanced orthopedic implants by biomaterials market players.

By Region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest share of the global biomaterials market in 2020, and is expected to remain dominant during the forecast period. This was attributed to growth in geriatric populations, increasing R&D activities, widespread technological advancements, and several developments that have taken place regarding the use of novel biomaterials in wound healing, tissue engineering, neurology, plastic surgery, and ophthalmology in the region.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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