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Biomaterials Market Size, Share, Analysis, Global Market Research and Industry Forecast Report, 2027 (Includes Business Impact of COVID-19)

  • TBI741479
  • March 10, 2020
  • Global
  • 132 pages
  • Lucintel
                                              Industry Insights, Market Size, CAGR, High-Level Analysis: Biomaterials Market

The global biomaterials market size was estimated at USD 106.5 billion in 2019 and is expected to register a CAGR of 15.9% over the forecast period. Rising prevalence of musculoskeletal and chronic skeletal medical conditions are expected to boost the demand for biomaterial-based implants, thereby augmenting the market growth. The demand for orthopedic implants is also rising owing to increasing geriatric population, at an increased risk of osteoarthritis, osteoporosis, and other musculoskeletal disorders.
Technological advancements have made biomaterials more versatile and have increased their utility in various fields of healthcare, such as bioengineering and tissue engineering. The advent of smart biomaterials that interact with biological systems for several biomedical applications, such as from transport of bioactive molecules to cellular functioning of the engineered functional tissues, drives the revenue generation in this market.
 

Companies are embracing the ongoing developments in novel drug delivery approaches for controlled release of drugs, thus fueling the market growth. For instance, in January 2019, DSM Biomedical partnered with ProMed Pharma to leverage its biomedical biomaterials with ProMed’s micromolding and extrusion capabilities to create novel controlled release drug implants and combination devices.
The porous-coated and fully or partially porous orthopedic implants have gained immense popularity in recent years. This is because the porous structures reduce the elastic modulus and stimulatebone growth around the implant. Powder metallurgy, 3-D printing, and additive manufacturing are some of the potential techniques to manufacture porous metallic and ceramic implants.
Growing demand for smart biomaterials that produce and transfer bioelectric signals similar to native tissues for accurate physiological functions, is expected to surge the market growth. Piezoelectric scaffolds are smart materials that play a significant role in tissue engineering. They stimulate the signaling pathways and consequently improve tissue regeneration at the impaired site.
                                                                
Product Insights of Biomaterials Market

The polymer product segment dominated the market in terms of revenue in 2019 and is expected to continue leading throughout the forecast period owing to the wide range of product applications. The wide availability of biopolymers and advanced polymers for bio-resorbable tissue fixation and other orthopedic applications is also expected to accelerate revenue generation of the segment.
Polymeric biomaterials are one of the cornerstones of tissue engineering. Ongoing progression in technologies, such as micromanufacturing, surface modification, drug delivery, nanotechnology, and high-throughput screening, play an integral role in broadening the polymeric material usage in the tissue engineering field.
Natural biomaterials are anticipated to witness a lucrative growth rate during the forecast period, owing to various benefits of the product over synthetic biomaterials in terms of biodegradability, biocompatibility, and remodeling. Due to these advantages, they are increasingly used to replace or restore the structure and function of damaged organs or tissues.

Application Insights of Biomaterials Market

The orthopedic application segment has dominated the biomaterials market in terms of revenue generation in 2019. Increasing adoption of metallic biomaterials in orthopedic applications due to their high load-bearing capacity is one of the factors driving the segment growth. Besides, continuous developments for the introduction of advanced orthopedic implants by market vendors are also expected to propel the revenue generation.
For instance, in November 2019, DiFusion Inc. received FDA approval for its Xiphos-ZF spinal interbody device, which is based on a different biomaterial Zfuze, a combination of poly-ether-ether-ketone and titanium. This new biomaterial leads to significant reductions of cytokine markers that cause inflammation and are associated with fibrous tissue formation.
 

Plastic surgery application is expected to grow at a significant pace in the coming years owing to increasing number of cosmetic procedures and increased usage of biomaterials in these surgeries. As per the 2019 publication of the International Society of Aesthetic Plastic Surgery, in U.S., around 4.3 million cosmetic procedures were performed in 2018, which has positively influenced the segment growth.

Regional Insights of Biomaterials Market

North America accounted for the largest revenue share in 2019 owing to the initiatives undertaken by several public and private organizations. These include the National Science Foundation and the National Institute of Standards and Technology, which provide knowledge and assistance pertaining to biomaterials usage in biomedical applications. This has resulted in the expansion of biomaterials adoption in this region. Moreover, factors such as favorable government policies and the presence of several major market players in this region have contributed to the regional market share.
Asia Pacific is expected to register the highest CAGR over the forecast period, owing to strategic initiatives adopted by the regional participants to reinforce their presence in local as well as global markets. For instance, in November 2019, a Japan-based company, Mitsubishi Chemical signed an agreement with U.S.-based AdvanSource Biomaterials to acquire theirthermoplastic polyurethane elastomer business. This acquisition is expected to the company expand their business footprint globally and capture significant share in the international market.

Market Share Insights of Biomaterials Market

Prominent companies in the market include 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; and Collagen Matrix, Inc.
Key companies are making significant investments to expand their presence and maintain a competitive edge. They are also adopting strategies such as agreements, partnerships, and collaboration models to strengthen their product portfolio. Moreover, key vendors are inclined toward the development of more innovative products to expand their biomaterials offerings.
For instance, in October 2019, Evonik Industries commercially launched its bioresorbable PLA-PEG copolymers that are designed to use in implantable medical devices. This product development improved the biocompatibility, safety, and performance of implantable products used by medical device customers and further strengthened Evonik’s growth.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Biomaterials Market Research Report
This report forecasts revenue growth at global, regional, & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global biomaterials market
 report on the basis of product, application, and region:


Product Outlook (Revenue, USD Million, 2019 - 2030)


Metallic


Natural


Ceramics


Polymers


Application Outlook (Revenue, USD Million, 2019 - 2030)


Cardiovascular


Sensors


Stents


Guidewires


Implantable Cardiac Defibrillators


Pacemakers


Vascular Grafts


Others


Ophthalmology


Synthetic Corneas


Intraocular Lens


Contact Lens


Ocular Tissue Replacement


Others


Dental


Tissue Regeneration Materials


Dental Implants


Bone Grafts & Substitutes


Dental Membranes


Others


Orthopedic


Joint Replacement Biomaterials


Orthobiologics


Bioresorbable Tissue Fixation Products


Viscosupplementation


Spine Biomaterials


Others


Wound Healing


Fracture Healing Device


Adhesion Barrier


Skin Substitutes


Internal Tissue Sealant


Surgical Hemostats


Others


Tissue Engineering


Plastic Surgery


Facial Wrinkle Treatment


Soft Tissue Fillers


Craniofacial Surgery


Bioengineered Skins


Peripheral Nerve Repair


Acellular Dermal Matrices


Others


Neurology


Neural Stem Cell Encapsulation


Shunting Systems


Hydrogel Scaffold For CNS Repair


Cortical Neural Prosthetics


Others


Others

 

Table of Contents
Chapter 1 Research Methodology & Scope                 1.1 Information Procurement                 1.2 Information or Data Analysis                 1.3 Market Formulation & ValidationChapter 2 Executive Summary                 2.1 Biomaterials Market Outlook                 2.2 Biomaterials Market: Segment Outlook                 2.3 Biomaterials Market: Competitive Insights Chapter 3 Biomaterials Market Variables, Trends & Scope                 3.1 Penetration & Growth Prospect Mapping For Product, 2019                 3.2 Biomaterials Market: Regulatory Framework           
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