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Digital healthcare space to be encompassed by the Biomaterials Market at a CAGR of 14.5%

12-28-2022 01:56 AM CET | Health & Medicine

Press release from: Persistence Market Research

Digital healthcare space to be encompassed by the Biomaterials

The global biomaterials market was valued at US$ 112 Bn in 2021 and is expected to reach US$ 470 Bn by 2032, advancing at a high-value CAGR of 14.5% from 2022 to 2032.

North America is projected to hold the largest share of the global market throughout the forecast period.

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Current Market Trends

Leading companies in the biomaterials industry are pursuing a variety of methods, including contracts, partnerships, and R&D initiatives, to increase the scope of their product line.

The global biomaterials market has seen a rise in strategic alliances. Leading companies are collaborating to create cutting-edge biomaterial-based implants and combination devices by combining their resources, knowledge, and technological capabilities. These partnerships also seek to boost the uptake of biomaterials. These partnerships enable companies to increase their revenue share and gain a market competitive advantage.

For instance, in April 2022, GE Healthcare and Medtronic teamed together to address the demands and specialised needs for care at office-based laboratories (OBLs) and ambulatory surgery clinics (ASCs). Financial solutions will benefit consumers.

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Biomaterials Market Industry Research Segmentation

Biomaterials Market By Material: Metallic Biomaterials, Ceramic Biomaterials, Polymeric Biomaterials, Natural Biomaterials
Biomaterials Market By Application: Dental, Cardiovascular, Orthopedic, Wound Healing, Neurology, Surgery
Biomaterials Market By Region: North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa

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Market Segmentation

The biomaterials have a wide range of applications in dental, cardiovascular, orthopedic, wound healing, neurology, and surgery, among others.

The cardiovascular segment contributed substantially to the global biomaterials market, followed by the orthopedic segment. Owing to the developments, and changing lifestyles of people, the other segment such as plastic surgery and wound healing segments are expected to show the highest growth in the near future.

Market Developments

Leading players in the biomaterials market are pursuing numerous strategies such as agreements, collaborations, and R&D activities to expand their product portfolio.

Strategic collaborations are a popular trend in the global biomaterials market. Key firms are working on collaborations to develop innovative biomaterial-based implants and combination devices by using each other's resources, expertise, and technology. These collaborations are also aimed at increasing biomaterial uptake. Such collaborations allow businesses to acquire a competitive advantage in the market and raise their revenue share.

Related Reports:

Telemedicine Market
https://www.persistencemarketresearch.com/market-research/telemedicine-market.asp

Robotic Surgery Market
https://www.persistencemarketresearch.com/market-research/robotic-surgery-market.asp

Veterinary Teleradiology Market
https://www.persistencemarketresearch.com/market-research/veterinary-teleradiology-market.asp

Dental Radiology Equipment Market
https://www.persistencemarketresearch.com/market-research/dental-radiology-equipment-market.asp

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About Us:

Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

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