Market Overview
The Global Biomaterials Market is expected to attain a valuation of
USD 191.5 billion in 2023, and it is further predicted to reach a market value of
USD 793.7 billion at a CAGR of 17.1% for the forecasted period of 2023 to 2032.
Biomaterials are
artificial biological substances that can be used in a lot of scientific strategies in which is act as an alternative for herbal tissues and organs as those are specifically designed to update or augment natural tissue.
Biomaterials, such as extensive sort of materials like polymers, metals, and ceramics, which might be used in the production of implants, artificial organs, and drug delivery structures. This market also can be characterized by means of its diverse programs as biomaterials are utilized in spanning orthopedics, cardiovascular, dental, and tissue engineering.
Market Dynamic
The global biomaterials marketplace is characterised with the aid of diverse dynamic elements that impact its increase and evolution. Technological advancements and innovations in biomaterial development will preserve market growth, as it's centered on improving the biocompatibility, sturdiness, and functionality of biomaterials. The aging worldwide population contributes considerably to the rising demand for biomaterials, mainly in orthopedic packages which include joint replacements and implants.
Additionally, environmental considerations and the pursuit of sustainable biomaterial answers are gaining prominence in this marketplace, reflecting a broader trend in the direction of eco-friendly and
biodegradable materials.
The market's trajectory is contingent on ongoing research breakthroughs,
healthcare infrastructure developments, and responsiveness to worldwide fitness challenges. The COVID-19 pandemic has underscored the importance of biomaterials in the healthcare sector, with multiplied interest in scientific gadgets, drug delivery systems, and tissue engineering.
Research Scope and Analysis
By Product
Based on product, polymers dominate this segment as they hold 26.5% of the market share in 2023 and are anticipated to show the following growth in the upcoming year of 2023 to 2032. Polymers dominate the biomaterials market due to their versatile nature, biocompatibility, and wide applicability across various medical fields. Polymers exhibit excellent biocompatibility with the human body which minimizes the risk of adverse reactions.
Also, a few polymers, like polyethylene and polyvinylchloride, are bioinert which reduces the likelihood of inflammation or rejection and is ideal for medical purposes. Polymers are usually light, which makes them a popular choice for lots of uses like orthopedic implants and heart devices. But, making polymers is very flexible. This lets people who make things use different ways of manufacturing like injection molding, extrusion, and 3D printing.
This versatile nature of polymers enables the production of complex shapes and structures for specific medical applications and these factors collectively contribute to its dominance in this segment.
By Application
Based on application, orthopedics dominates this segment, as it primarily focuses on the musculoskeletal system, which has witnessed a substantial increase in the use of biomaterials in the last few decades as now it holds 26.5% of the market share in 2023 and is projected to show subsequent growth in the upcoming years of 2023 to 2032.
Biomaterials make up a big part of the market because they have many uses. These materials are very important to help fix problems with bones and joints in people who need treatment. As the world watches more old people, who are prone to bone problems like arthritis and broken bones increase.
This is making the demand for materials from living things grow because they can be part of new body parts or extra joints that replace worn-out ones. Also, new changes in biomaterial technologies have led to the creation of strong and friendly materials for orthopedic use.
These improve how well an implant works and lasts longer. Orthopedic biomaterials are very important in surgeries for joint reconstruction and replacement. They use things like titanium alloys, ceramics, and polymers in hip or knee replacements often made from such materials to ensure they work well with the body's tissues forever.
The Biomaterials Market Report is segmented on the basis of the following:
By Product
- Polymers
- Metallic
- Stainless Steel
- Titanium
- Cobalt-chrome Alloys
- Gold
- Silver
- Natural
- Zirconia
- Aluminum Oxide
- Collagen and Gelatin
- Fibrin
- Cellulose
- Chitin
- Others
- Ceramics
- Polymethylmethacrylate
- Polyethylene
- Polyester
- Polyvinylchloride
- Nylon
- Others
By Application
- Orthopedic
- Ophthalmology
- Cardiovascular
- Dental
- Tissue Engineering
- Plastic Surgery
- Others
Regional Analysis
NIn 2023, North America rules the global biomaterial market with a share of 40.1%. It is expected to show fast growth in the upcoming time period of 2023 to 2032. This region dominates this market due to many reasons like being best at research, creativity, and accepting new technology.
This area has a strong healthcare system, a very skilled workforce, and many renowned educational institutes. These places are making big progress in creating materials from biological materials.
The major biomaterial companies in North America and their friendly surroundings make this region important in the world market for these materials. In this area, the United States especially has a strong bio-medical industry and it is also good for big drug-making companies and medical device factories.
The area's promise to use new technology, along with big spending on study and growth makes it possible for us to keep searching how biomaterial can be used in the most modern ways.
This area also has good payment policies, a well-set up health care system, and high spending on healthcare that push the need for biomaterials in medical uses. So, the place keeps going strong in making new materials from living things. It stays on top of this fast-moving market that changes a lot.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The worldwide market for biomaterials is very competitive, with many important companies in different parts. The top firms in the biomaterials field are Royal DSM, BASF SE, Corbion N.V., Evonik Industries AG, and Zimmer Biomet Holdings along with others are always developing their product portfolios to gain a competitive edge over others. These big companies do action plans like buying up other businesses, working together, and making new products to keep their place in the market strong.
The COVID-19 pandemic has caused both problems and chances for these players. Some companies are hit by supply chain problems and a shortage of stuff. Other firms use the increased interest in healthcare to move forward with making medical things from living materials. This has caused more competition in fields like tissue engineering, regenerative medicine, and biocompatible implants.
Moreover, local players from various regions have now joined in the market which is adding to how competitive this market is. Governments and rules groups are very important in the industry. They make sure standards are followed. As the world's economy gets better from a money slump, businesses will probably work harder to find out new things using living stuff and make smart partnerships. This is because they want to have an edge over others in this changing marketplace.
Some of the prominent players in the Global Biomaterials Market are:
- Medtronic plc
- Evonik Industries AG
- Carpenter Technology Corporation
- Berkeley Advanced Biomaterials
- Invibio Ltd.
- Zimmer Biomet Holdings, Inc.
- BASF SE
- Covalon Technologies Ltd.
- Stryker
- Johnson & Johnson
- Dentsply Sirona
- CoorsTek Inc.
- Corbion
- Collagen Matrix Inc.
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Biomaterials Market:
The COVID-19 pandemic and the economic slowdown made a big impact on the global biomaterials market. The lockdowns and travel bans caused many interruptions in the production of biomaterials and their supply. Work in the biomaterials field slowed down and stopped for a time because labs were closed and resources had to be moved to fight pandemic problems. The focus of the healthcare industry shifted towards addressing immediate concerns related to the pandemic, impacting the prioritization of biomaterials research and development.
This affected how fast they could work on new research and development about bio-materials. The economic recession caused by a slow investment might have stopped or limited investment in new biomaterials projects.
However, the pandemic showed how important it is to make medical improvements. This could increase interest and money in using materials for healthcare stuff like drug delivery tools, building new tissues, or putting implants inside people.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 191.5 Bn |
| Forecast Value (2032) |
USD 793.7 Bn |
| CAGR (2023-2032) |
17.1% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Polymers, Metallic, Natural and
Ceramics), By Application (Orthopedic,
Ophthalmology, Cardiovascular, Dental, Tissue
Engineering, Plastic Surgery and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Medtronic Plc, Evonik Industries AG, Carpenter
Technology Corporation, Berkeley Advanced
Biomaterials, Invibio Ltd., Zimmer Biomet Holdings,
Inc., BASF SE, Covalon Technologies Ltd., Stryker,
Johnson & Johnson, Dentsply Sirona, CoorsTek Inc.,
Corbion, Collagen Matrix Inc, and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Biomaterials Market size is estimated to have a value of USD 191.5 billion in 2023 and is
expected to reach USD 793.7 billion by the end of 2032.
North America has the largest market share for the Global Biomaterials Market with a share of about
40.1% in 2023.
Some of the major key players in the Global Biomaterials Market are Medtronic plc, Evonik Industries
AG, Carpenter Technology Corporation, Berkeley Advanced Biomaterials, Invibio Ltd., Zimmer Biomet
Holdings, Inc., BASF SE, Covalon Technologies Ltd., Stryker, Johnson & Johnson, Dentsply Sirona,
CoorsTek Inc., Corbion, Collagen Matrix Inc. and many others.
The market is growing at a CAGR of 17.1 percent over the forecasted period.