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Biocompatible Materials Market to Witness Widespread Expansion During 2017-2027

02-12-2018 12:39 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Biocompatible Materials Market to Witness Widespread

Global Biocompatible Materials Market: Introduction

Biocompatible materials are those materials that elicit no unfavorable reaction from tissues. Biocompatible materials are nonviable materials used in medical devices that interact with biological systems. These materials are made from metals, synthetic polymers, natural polymers and ceramics. Biocompatible materials are widely used for various applications. Its areas of application include contact lenses, heart valves, intraocular lenses, vascular grafts, artificial joints, etc. The basic materials used for the manufacturing of biocompatible materials are silicone, PMMA (acrylic), Teflon & Dacron, stainless steel, titanium & its alloys and polyurethane, among others. Some of the features of biocompatible materials are absence of carcinogenicity, toxicity, teratogenicity and immunogenicity along with high corrosion resistance.

Biocompatible materials are also used in several implants, such as joints, sutures, bone plates and dental implants. These materials either replace or restore the injured or destroyed tissues or organs. Biocompatible materials used for implants should have long-term biocompatibility with the host without being rejected and must not elicit any undesirable effects in the host. Biocompatible materials are used for various applications in the medical field, such as in surgical & medical instruments, surgical appliance and supplies, dental products & materials, drug delivery, etc. Biocompatible materials help improve the quality of life and save millions of lives.

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Global Biocompatible Materials Market: Market Dynamics

With the growth in the field of biomedical technologies, biocompatible materials market is expected to gain significant traction over the forecast period. Further, increasing demand from pharmaceutical excipients, drug delivery systems, cosmetic implants, tissue engineering and wound dressing supported by increasing socio-economical trend, i.e. rise of an affluent middle class in the emerging markets, is expected to propel the growth of biocompatible materials market. Among product type, synthetic polymers are expected to be the dominating segment. However, natural polymers are expected to outpace synthetic polymers due to widening applications in drug delivery systems and cosmetic applications. Further, among metallic biocompatible materials, titanium is considered the most biocompatible material owing to its high resistance towards body fluid effects, high strength and low density. Titanium is widely used for manufacturing of surgical instruments and implants, primarily due to its biocompatibility and the natural tendency of bones to adhere to titanium, thereby eliminating the need for additional coatings.

Medical devices and instruments are in a constant state of evolution and are in sync with the ongoing trends in the medical field. Further, the advancements in technology are driving investments for the development of new materials. Key players are focusing on the development of high quality & high performance cost effective solutions for a wide range of applications. However, biocompatible materials have to follow high standards of biocompatibility to ensure their safe use and must be tested according to various regulatory and industry standards, which might hinder the growth of biocompatible materials market.

Global Biocompatible Materials Market: Segmentation

The global biocompatible materials market, on the basis of material type, can be segmented as:

Synthetic Polymers
Natural Polymers
Metals
Ceramics

The global biocompatible materials market, on the basis of solution, can be segmented as:

Surgical and Medical Instruments
Surgical Appliances and Supplies
Dental Products and Materials
Drug Delivery
Others

Global Biocompatible Materials Market: Regional Outlook

North America and Europe are expected to dominate the global biocompatible materials market throughout the forecast period. The demand in the region is primarily driven by increasing penetration of biocompatible materials in various applications, such as in cosmetic surgery and wound management, as well as advancements in biotechnology. Further, rising medical expenditure in the region and increasing awareness regarding health and fitness is expected to boost the biocompatible materials market. Increasing investment in the medical sectors in countries such as India, China and Indonesia in the Asia Pacific coupled with rising disposable income of middle class is expected to boost the biocompatible materials market with a significant pace over the forecast period. The Middle East and Africa biocompatible materials market is expected to grow at a steady pace over the forecast period.

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Global Biocompatible Materials Market: Key players

Some of the market participants identified across the value chain of the Global Biocompatible Materials Market are:

Stratasys Ltd.
Ensinger GmbH
AdvanSource Biomaterials Corporation
Sanofi S.A.
Ashland Inc.
Baxter International Inc.
ASM International
DuPont
Biomaterial USA LLC.
Augma Biomaterials USA Inc
botiss biomaterials GmbH

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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