Biomaterials Market Size, Share and Demand Forecast to 2030

The biomaterials market captured $112.7 billion in 2021, and it is projected to rise at a rate of 13.4%, to reach $349.1 billion in 2030. The growth of the industry is ascribed to the increasing count of technological advancements, rising incidence of chronic musculoskeletal conditions, and surging government support in the form of grants and funds.

Biomaterials play a vital role in medical sector in many ways like, restoring function and enabling healing after an injury or suffering from a disease. Biomaterials can be both synthetic or natural and can enhance, support, or replace the injured tissue.

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The first usage of biomaterials was done way back when Egyptians made use of sutures made from animal sinew. The contemporary use of biomaterials is in biology, medicine, physics, and chemistry.

Rising Elderly Population Boosts Biomaterials Industry

• The elderly population needs extensive care as it is more susceptible to illnesses because of its low immunity levels. With the changes in ligaments and tendons with age, the flexibility of the joints reduces and motion is restricted.

• Hence, older people are at a high risk of musculoskeletal injuries, orthopedic disorders, and dental problems. This boosts the requirement for knee joint and hip implants, intraocular lenses, and prosthetic limbs and arms.

• The high risk of organ or tissue failure in the elderly population also creates a high demand for biomaterials.

• Further, the high count of elderly people with cardiovascular diseases results in the increasing demand for pacemakers and artificial heart valves.

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Biomaterials Transform Medical Device Industry

Biomaterials have transformed the medical device industry by offering cost-effective treatments for a number of conditions. Such materials are easy to fabricate, resilient, highly biocompatible, inert, and strong. Advances in tissue regeneration and implants have made biomaterials ideal for blood vessel prostheses, artificial tissues, heart valves, breast implants, and contact lenses.

Plastic Surgeries To Experience Fastest Growth

The plastic surgeries category is projected to experience the fastest growth, at a rate of 15%, in the future. Biomaterials are utilized for cosmetic as well as reconstructive purposes in plastic surgeries.

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