Biomaterials Market for Implantable Devices is Forecasted to grow at a CAGR of 4.1% between 2013 and 2019

In a latest research report published by Transparency Market Research (TMR) “Biomaterials Market for Implantable Devices - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, the global biomaterials market is forecasted to grow at a CAGR of 4.1% between 2013 and 2019. According to the report, the market is estimated to be valued at US$33,600 million by 2019, increasing from US$25,277.8 million in 2012.Biomaterials are fabricated from either synthetic or natural origin materials that are used for medical implants. Heart valves, dental implants, artificial hip joints, and intraocular lenses are some of the commonly used medical implants for which biocompabitility and safety needs to be guaranteed, since these implants come in close proximity to internal organs in the human body. Owing to such reasons it necessary that biomaterials are biocompatible, which means they should not interfere with the physiology and not cause any immunogenic reaction in the human body.

Hence, the demand metals, polymers, ceramics, and natural origin biomaterials has significantly increased since these have proven to be safe, affordable, and reliable. Increasing geriatric population worldwide has led to growing incidences of diseases such as arthritis and osteoporosis. Moreover, the aging people are also more prone to accidents and injuries, which has increased the demand for graft transplant surgeries and medical implants. This in turn will drive the biomaterials market. The medical implants market is propelled to counter the increasing morbidity among the elderly population, thereby propelling the biomaterials market. Technological advances introduced in the medical and healthcare industry has led to improved functionality and efficiency of medical implants and its associated procedures. This has contributed significantly to the growth of the biomaterials market. The research report segments the biomaterials market on the basis of material types which is further divided as per applications of these biomaterials for various medical conditions. In 2012, metal type biomaterials held the largest market share in the biomaterials market.

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Polymers will exhibit fastest growth in the coming years owing to its increased applications in healthcare and distinct material properties such as biocompatibility, bioinertness, flexibility, longevity, and durability.Polymers biomaterials have extensive applications such as in percutaneous transluminal coronary angioplasty (PTCA) catheters, contact lenses, strong frame for dental prosthesis and dentures, heart valves, and intraocular lenses. With rising incidence of ophthalmic disorders and persistent demand from geriatrics, the mainstream usage of polymers for ophthalmological purposes will surge in the next few years. In 2012, orthopedic applications of biomaterials held largest share due to increasing number of knee and hip replacement procedures performed across the globe and increasing application in sports medicine. However, ophthalmic applications will drive demand for polymers biomaterials due to increasing prevalence of ophthalmic disorders among adults, children, and elderly population.

Furthermore, large number of medical implant procedures performed in developed nations such as the United States, Germany, the U.K., Spain, Canada, France, and Italy are impressively fuelling the biomaterials market. Among the key regional markets, North America dominates the global biomaterials market. Eye disorders, bone-related diseases, dental problems, and fractures have become very common in the U.S. which is fueling demand for biomaterials in the country.

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