Biomaterials are artificially derived synthetic or natural materials that are used in medical technology to improve the functionality of damaged tissues and organs. These biomaterials are used to interact with biological systems for medical purposes and treatments of cardiovascular, dental, orthopedic, and neurological disorders. Moreover, biomaterials science can be implemented in various advanced medical technologies such, tissue engineering, plastic surgery, drug delivery devices, and other medical implants. Biomaterial applications are finding prominence in the research on biomed engineering, biomineralization, and biomolecules.
Biomaterials Market: Key Players
The research study includes profiles of leading companies operating in the global biomaterials market. Key players profiled in the report include: Royal DSM, BASF SE, Corbion, Carpenter Technology Corporation, Evonik Industries, Berkeley Advanced Biomaterials, Cam Bioceramics B.V., Celanese Corporation, CoorsTek Inc. and GELITA AG.
In July 2019, Royal DSM entered into a partnership with ProMed Pharma. This partnership was aimed at developing novel sustained release drug delivery solutions in the polymeric drug delivery area.
Drivers for the Global Biomaterials Market:
Increase in geriatric population, high prevalence of cardiovascular, neurological, & orthopedic disorders, and heavy funding by government organizations to launch new products, increase awareness regarding the advantages of biomaterials products, increase production of implantable products, and advancements in medical technology are the key drivers of the market. Thus all these are creating a positive impact at the growth of the biomaterials market.
Opportunities for the Global Biomaterials Market:
Factors such as the increased funds & grants by government bodies worldwide for the development of novel biomaterials, rising demand for medical implants, and the rising incidence of cardiovascular diseases are driving the growth of the market. Emerging markets such as China, India, and Japan are the key areas of opportunity for players in this market. Thus all these factors are creating a lucrative opportunity for the growth of the biomaterials market.
Restrains for the Global Biomaterials Market:
A stringent clinical & regulatory processes and unfavorable healthcare reforms in the US are restraining the growth of this market. While the growth of the market is hindered by factors, such as high cost of biomaterial production, occurrence of inflammatory responses due to compatibility issues, and complications associated with the use of these products. Thus all these factors are hampering the growth of the biomaterials market.
Region Wise, Global Biomaterials Market Analysis:
Report covers the region wise analysis, global Biomaterials market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia-pacific leads the global Biomaterials market share followed by North-America and Europe. While the Asia-pacific leads the global Biomaterials market due to the Japan’s growing healthcare industry, rising geriatric population in China and India, and rising prevalence of cardiovascular diseases in India are some of the key factors driving the growth of the market in the Asia Pacific region. The strategic initiatives adopted by the regional participants to reinforce their presence in local as well as global markets. This led to fueling the growth of this market in this region.
Global Biomaterials Market: Product analysis
- Metallic Biomaterials
- Ceramic Biomaterials
- Polymeric Biomaterials
- Natural Biomaterials
Global Biomaterials Market: Application analysis
- Plastic Surgery
- Wound Healing
- Tissue Engineering
Global Biomaterials Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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