Biomaterials Market Report 2023-2028 | Industry Overview Size, Share, Growth, Trends Analysis

How Big is the Global Biomaterials 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.

What are Biomaterials?

Biomaterials are specially crafted materials designed to interact with biological systems, with a key emphasis on their ability to coexist harmoniously and perform effectively. They possess a non-toxic and non-immunogenic nature, ensuring they do not provoke adverse reactions when in contact with biological environments. They have made substantial contributions to the fields of tissue engineering and regenerative medicine, offering effective solutions to patients awaiting organ and tissue transplants. They also play a pivotal role in advancing diagnostic tools, resulting in quicker and more precise disease detection. They are used in the development of neurological devices, such as electrodes and neural implants for conditions like Parkinson's disease or epilepsy. Biomaterials are also employed in the production of intraocular lenses, corneal implants, and other devices used in eye surgeries and treatments.

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Global Biomaterials Market Trends and Drivers:

At present, the increasing prevalence of chronic diseases and the growing aging population are catalyzing the demand for advanced biomaterials that can seamlessly integrate with the human body. Besides this, the rising popularity of minimally invasive surgical procedures, as they reduce the duration of hospitalization and formation of post-operative scarring, is encouraging medical companies to use high-quality biomaterials for the development of innovative medical devices. In addition, the growing awareness and inclination toward regenerative medicine and tissue engineering are spurring the development and adoption of biomaterials that can stimulate tissue repair and regeneration. Apart from this, technological advancements and the convergence of biotechnology and materials science are contributing to the market growth. Additionally, the increasing incorporation of nanotechnology and 3D printing, enabling the development of highly customized and patient-specific implants and scaffolds, is supporting the market growth. Moreover, the rising utilization of artificial intelligence (AI) and machine learning (ML) is enhancing the design and development of biomaterials and accelerating the discovery of novel materials with superior properties and biocompatibility. Furthermore, cross-disciplinary collaborations between material scientists, biologists, and medical experts are fostering a rich ecosystem of knowledge exchange, which is instrumental in driving breakthroughs in biomaterials science.

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
Zimmer Biomet.

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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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This release was published on openPR.