IQ4I Research & Consultancy published a new report on “Implantable Biomaterials Global Market – Forecast To 2022”

A biomaterial is a substance intended to interface with biological systems to evaluate, treat, augment, or replace any tissue, organ, or function of the body for a life time, such as total hip replacements, as well as those that interact with the body for short periods of time, such as soft contact lenses. The source of biomaterials can be derived from natural or synthetic by variety of processes laboratory using metallic, ceramic, polymer, natural and composite raw materials. The selection of biomaterial is dependent on the application and properties of materials. Biomaterials are used to develop and manufacture implantable medical devices and grafts in many medical conditions. As estimated by IQ4I Research, implantable biomaterials global market is expected to grow at a strong CAGR to reach $21,124.2 million by 2022.

The increasing aging population, increasing demand for minimally invasive procedures, increasing research and development investments, growing demand for plastic surgery, miniaturization of implant devices, advance technologies and reimbursements are the factors driving the biomaterials global market. However, limitations of biomaterial based products, stringent regulations posed on biomaterial based products, complications due to implant rejection, cytotoxicity, and corrosion of biomaterials implant are restraining the growth of biomaterials global market.

Advancements and newer technologies like 3D printing are revolutionizing implantable biomaterials market. 3D Printing promises to produce complex biomedical devices using computer design based on patient-specific anatomical data. Before 3D Printing can be used routinely for the regeneration of complex tissues (e.g. bone, cartilage, muscles, vessels, nerves in the craniomaxillofacial complex), and complex organs with intricate 3D microarchitecture (e.g. liver, lymphoid organs). The commonly used 3D printing technologies are Fused Deposition Modeling, Selective Laser Sintering, Stereolithography, and 3D Plotting/Direct-Write/ Bioprinting. With the increase in 3D printing technology better and anatomically accurate implants can be manufactured which directly affects the consumption of biomaterials by medical implants manufacturing companies.

A leading advanced materials and 3D printing company, Oxford Performance Materials, Inc. (OPM), has announced that it has received 510(k) clearance from the US Food & Drug Administration (FDA) for its 3D printed OsteoFab Patient-Specific Facial Device. Currently, it is the only cleared 3D printed polymeric implant for facial indications of its kind, although it is not completely new territory for OPM as the company previously got FDA clearance for another kind of 3D printed medical implant in February 2013.

Amedica Corporation is the first company to create medical silicon nitride ceramics using a 3D printing process called robotic deposition, or robocasting. The 3D printed products have been shown to possess similar properties to traditionally manufactured alternatives.

In February 2016 BioArchitects received 510(k) clearance by the U.S. Food and Drug Administration – FDA, for the company’s 3D printed patient specific titanium cranial/craniofacial plate implant. Designed for the repair of defects in the non-loadbearing bones of the head and face, each custom designed plate is permanently attached to the skull and/or face with self-tapping titanium screws.

The implantable biomaterials global market is segmented based on type, application, and geography. The market by type is divided into Metallic biomaterials, Synthetic polymers, Ceramic biomaterials, Natural biomaterials and Composite biomaterials. The implantable biomaterials application is further sub-segmented into Cardiovascular, Orthopedic, Dental, Plastic Surgery, Wound Healing, Ophthalmology, Neurology and Other Applications. The Orthopedic occupied highest market in implantable biomaterials application market.

Geographically, North American regions held the largest market share and U.S. dominates the North American region with market share of 79.2% and expected to show a CAGR due to the high advanced healthcare facilities, increasing ageing population, increased growing awareness about the technological advancements, availability of Medicare and third party insurance facilities, easy availability of skilled personnel are driving the market growth. In Asia-Pacific region Japan dominates the biomaterials market with share of 30.7% and expected to grow at a strong CAGR due to high levels of healthcare expenditure and a massive elderly population, technological advancements and reimbursement by Japan’s National Health Insurance (NHI) system are the major factors contributing the biomaterials market in Japan. Japan has world’s largest and fastest rates of aging population in the world which results in high rates of orthopedic, dental, ophthalmology and cardiovascular disorders. In Rest of the World regions Latin America countries especially Brazil dominates the implantable biomaterials market with share of 50.7% and is expected to grow at the strong rate due to The growth in this market is mainly due to the high acceptance of technological advancements, Medicare facilities, sophisticated infrastructure related to healthcare and high expenditure and mainly the easy availability of skilled personnel and treatment style has led the Brazil as the dominant region of biomaterials market.

Some of the prominent players in implantable biomaterials market include Solvay Advanced Polymers, LLC (Belgium), Evonik Industries AG (Germany), Carpenter Technology Corporation (U.S.), Royal DSM (Netherlands), Johnson Matthey Plc (U.K.), Morgan Advanced Materials plc (U.K.), Materion (U.S.), Victrex PLC (Invibio Biomaterial Solutions ) (U.K.) and Collagen solutions (U.K.), Corbion N.V. (Netherlands), Landec Corporation (U.S.).

IQ4I (Intelligence Quotient for Innovation) Research and Consultancy Pvt. Ltd. is a global strategy, consulting and a leading market research company. Our clients include leading businesses, investment banks, researchers and government agencies.

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This release was published on openPR.