Biomaterials Market by Type (Metallic, Polymeric, Ceramic, and Natural) and Application, (Cardiovascular, Dental, Orthopedic, Wound Healing, Plastic Surgery, Ophthalmology, Tissue Engineering, Neurological Disorders, and Drug Delivery Systems): Global Opportunity Analysis and Industry Forecast, 2021–2030. The global biomaterials market size was valued at $64,874 million in 2020 and is projected to reach $2,12,405.2 million by 2030, registering a CAGR of 12.7% from 2021 to 2030.
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Biomaterials are non-drug substances, suitable for inclusion in systems, which augment or replace the function of bodily tissues or organs. Biomaterial science can be installed and operated in numerous advanced medical technologies, such as tissue engineering, plastic surgery, drug delivery devices, and other medical implants. Biomaterials are primarily employed as controlled drug release methods in drug delivery systems. Biomaterials are porous bio-ceramics that are widely utilized to deliver medications and other biologically active substances in various matrices. They are also useful in biomedical engineering, biomineralization, and biomolecule research.
The COVID-19 virus causes illness ranging from common cold to more severe respiratory diseases. The revenue of global biomaterials market also declined in 2020 due to the global economic recession led by the COVID-19 pandemic. For instance, orthopedics implant surgeries and non-essential dental procedures, have been delayed due to the COVID-19 pandemic, which also decreases the demand for biomaterials. Thus, the outbreak of COVID-19 has negatively impacted the biomaterials market.
Key Findings Of Study
- On the basis of type, the metallic segment held largest share in the global market in 2020.
- On the basis of application, the orthopedic segment dominates the global biomaterials market in 2020 and is anticipated to continue this trend during the forecast period.
- On the basis of region, North America is expected to experience growth at the highest rate, registering a CAGR of 12.5% during the forecast period.
The biomaterials market is segmented on the basis of type, application, and region. By type, it is bifurcated into metallic, polymeric, ceramic, and natural. Metallic biomaterials are segmented into stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, and silver. Polymeric biomaterials are divided into polymethyl methacrylate (PMMA), polyethylene, polyester, polyvinylchloride, silicone rubber, nylon, and polyetheretherketone. Ceramic biomaterials are segmented into calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon, and glass. Natural biomaterials comprise hyaluronic acid, collagen & gelatin, fibrin, cellulose, chitin, alginates, and silk. The metallic segment was the major shareholder in 2020, owing to their high specific strength, high corrosion resistance, and low modulus. In addition, they are highly used in orthopedics, dental, cardiovascular, and neurological permanent and bioresorbable implants, which drive growth of the segment.
Key Market Players
- Carpenter Technology Corporation
- Corbion N.V
- Covalon Technologies Ltd.
- Evonik Industries
- .Linden Capital Partners (Collagen Matrix, Inc.)
- Noble Biomaterials Inc.
- Royal DSM
- Victrex Plc
- Stryker Corporation (Wright Medical Group N.V)
- Zimmer Biomet Holdings, Inc.
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Key Market Segments
- BY TYPE
- Metallic
- .Stainless Steel
- Titanium and Titanium Alloys
- Cobalt-Chrome Alloys
- Gold
- Silver
- Polymeric
- Polymethylmethacrylate
- Polyethylene
- Polyester
- Polyvinylchloride
- Silicone Rubber
- Nylon
- Polyetheretherketone
- Ceramic
- Zirconia
- Aluminum Oxide
- Calcium Sulfate
- Carbon
- Glass
- Natural
- Hyaluronic Acid
- Collagen and Gelatin
- Fibrin
- Cellulose
- Chitin
- Alginates
- Silk
- Metallic
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