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This report studies the global biomaterials market for the forecast period of 2016 to 2021. This market is expected to reach USD 149.17 Billion by 2021 from USD 70.90 Billion in 2016, at a CAGR of 16.0% from 2016 to 2021. Factors such as increasing funds and grants by governments worldwide, rising incidence of cardiovascular diseases, technological advancements, the growing implantable devices market, globally rising cases of hip and knee replacement procedures, rising awareness of tissue engineering, and high growth in geriatric population are driving the growth of the market.
The global biomaterials market is segmented on the basis of type of material, application, and region.
On the basis of type of material, the biomaterials market is categorized into metallic, ceramic, polymeric, and natural biomaterials. The metallic segment is further categorized into stainless steel, titanium & titanium alloys, cobalt-chrome alloys, silver, gold, and magnesium. The ceramic segment is further divided into aluminum oxide, zirconia, calcium phosphate, calcium sulphate, carbon, and glass.
The polymers segment is further segmented into polymethylmethacrylate (PMMA), polyethylene, polyester, polyvinyl chloride, silicone rubber, nylon, polyetheretherketone (PEEK), poly lactic acid, poly glycolic acid & PLGA, and other polymeric biomaterials. The natural biomaterials market is further segmented into hyaluronic acid, collagen, gelatin, fibrin, cellulose, chitin, alginate, and silk.
In 2016, the metallic segment is estimated to command the largest share of the market, by type of material. The polymeric biomaterials segment is projected to grow at the highest CAGR during the forecast period, owing to the increasing use of polymers in soft tissue applications such as plastic surgeries.
On the basis of application, the market is segmented into cardiovascular, orthopedic, dental, plastic surgery, wound healing, tissue engineering, ophthalmology, neurological /central nervous system, and other applications which include drug delivery systems, gastrointestinal applications, bariatric surgery, and urinary applications. In 2016, the cardiovascular segment is expected to account for the largest share of the biomaterials market. This can be attributed to rising prevalence of cardiovascular diseases worldwide. However, the plastic surgery segment is projected to grow at the highest CAGR from 2016 to 2021. Preference for minimally invasive cosmetic surgeries and positive public perception for these surgeries are significant factors that are expected to drive market growth in this segment.
On the basis of region, the biomaterial market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (Latin America, the Middle East, and Africa). In 2016, North America is projected to account for the largest share of the global biomaterials market, followed by Europe and Asia-Pacific. However, the Asia-Pacific market is slated to grow at the highest CAGR during the forecast period and serve as a revenue pocket for companies offering biomaterials.
A number of factors such as increased funds & grants by government bodies worldwide, growing implantable devices market, technological advancements, rising number of hip and knee replacement procedures, and high growth in geriatric population coupled with growing incidence of cardiovascular diseases are driving the growth of this market. In addition, high growth is expected for plastic surgery and wound healing applications, which will further drive the growth of the biomaterials market.
Prominent players in the global biomaterials market include Royal DSM (Netherlands), BASF SE (Germany), Corbion N.V. (Netherlands), Covestro (Germany), Invibio Ltd. (U.K.), Carpenter Technology Corporation (U.S.), Evonik Industries AG (Germany), Berkeley Advanced Biomaterials, Inc. (U.S.), CAM Bioceramics BV (Netherlands), and Celanese Corporation (U.S.).
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