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Biomaterials Market 2023-2032 Opportunity Assessment, Industry Share, Global Outlook And Major Players | Carpenter Technology Corporation, Corbion NV, Evonik Industries, Royal DSM, Berkeley Advanced Biomaterials
Biomaterials Market
The Business Research Company's Biomaterials Global Market Report 2023 identifies rising incidence of cardiovascular diseases as the major driver for the Biomaterials Market's growth in the forecast period. Cardiovascular disorders are caused by high blood pressure, smoking, high cholesterol, inactivity, and other factors. The increase in the prevalence of cardiovascular disorders is mainly due to noncontagious diseases like diabetes, chronic respiratory illness, and heart attacks due to hypertension. Biomaterials such as heart valves, cardiopulmonary bypass system, stents, vascular grafts, complete artificial heart, and pacemakers are used as a healing mechanism for damaged and diseased heart tissue.
The global biomaterials market size will grow from $104.36 billion in 2022 to $119.95 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global biomaterials industry is expected to grow to $219.79 billion in 2027 at a CAGR of 16.3%.
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Major competitors in the biomaterials market are Carpenter Technology Corporation, Corbion NV, Evonik Industries, Royal DSM, Berkeley Advanced Biomaterials, BASF SE, Zimmer Biomet, Johnson and Johnson, Invibio, Medtronic, Organogenesis Holdings Inc., Stryker, Wright Medical Group NV, 3M Healthcare, AdvanSource Biomaterials Corporation, Baxter, Covestro, Cam Bioceramics BV, Celanese Corporation, CoorsTek Inc., CeramTec, Victrex plc and Collagen Matrix Inc.
A key trend in the Biomaterials Market includes strategic partnership. Key companies are focusing on partnerships to develop new implants and combination devices based on biomaterials by leveraging each other's expertise, technology, and resources. These partnerships are also focused on enhancing the adoption of biomaterials. Such partnerships enable companies to gain a competitive edge in the market and increase revenue. For instance, in December 2020, DuPont, a US-based producer of biomaterials, partnered with a Finland-based global chemicals company, Kemira Oyj, for development and commercialization of new breakthrough biomaterials. In the partnership, Kemira's role would be to jointly develop and market a variety of novel biobased and biodegradable goods across Kemira's major product lines. As per the conditions of the partnership, Kemira will have access to the engineered polysaccharide platform, a novel and distinctive biomaterial technology from DuPont. Through this partnership, the two parties will soon be able to sell a variety of novel, biobased, and biodegradable products in their respective core industries.
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The Biomaterials Market is segmented -
By Type: Metallic Biomaterial, Polymeric Biomaterials, Natural Biomaterials, Ceramics
By Application: Cardiovascular, Orthopedic, Ophthalmology, Dental, Plastic Surgery, Wound Healing, Tissue Engineering, Neurological/Central Nervous System
By End Use: Hospitals And Clinics, Ambulatory Surgical Centers, Other End Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Biomaterials Market.
The Business Research Company's "Global Biomaterials Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Biomaterials Market Include:
1. Executive Summary
2. Biomaterials Market Characteristics
3. Biomaterials Market Trends And Strategies
4. Biomaterials Market - Macro Economic Scenario
5. Biomaterials Market Size And Growth
……
26. Africa Biomaterials Market
27. Biomaterials Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Biomaterials Market
29. Biomaterials Market Future Outlook and Potential Analysis
30. Appendix
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