Biomaterials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Biomaterials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global biomaterials market size reached US$ 102.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 202.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.43% during 2023-2028.

A biomaterial refers to a matter, surface or construct that can be obtained from nature or manufactured in the laboratory using polymers, metallic components, ceramics or composite materials. It interacts with biological systems and assists in restoring different functions and facilitating healing among individuals after an injury or a disease. Consequently, it finds extensive applications in neurology, cardiology, orthopedics, ophthalmology, wound care, dentistry, and plastic surgery across the globe.

Biomaterials Market Trends:
There is an increase in the number of individuals with musculoskeletal conditions around the world. This, in confluence with the rising geriatric population, represents one of the key factors impelling the growth of the market. Moreover, biomaterials are used in medical implants, including heart valves, stents, grafts, artificial joints, ligaments, tendons, hearing loss and dental implants, and devices that stimulate nerves. They are also utilized in dissolvable dressings and sutures, clips, and staples for wound closure. In addition, biomaterials aid in cardiac repair and regeneration as a carrier for drug delivery or as an extracellular matrix substitute scaffold. This, along with the burgeoning healthcare industry, is catalyzing the demand for biomaterials worldwide. Apart from this, advancements in molecular self-assembly, polymer synthesis, protein and peptide engineering, and microfabrication technologies have resulted in the introduction of next-generation smart biomaterials. These biomaterials can adapt their chemical and mechanical properties according to changes in physiological parameters and exogenous stimuli. This, coupled with the increasing focus of market players on product innovations to offer better services to end users, is positively influencing the market. Other factors strengthening the growth of the market include the rising prevalence of cardiovascular diseases and the increasing awareness among the masses about the advantages of biomaterials.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global biomaterials market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.

Breakup by Type:

Natural Biomaterial
Metallic Biomaterial
Ceramic Biomaterial
Polymeric Biomaterial

Breakup by Application:

Neurology
Cardiology
Orthopedics
Wound Care
Dental
Plastic Surgery
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, Berkeley Advanced Biomaterials, Carpenter Technology Corporation, Collagen Matrix Inc., CoorsTek Inc., Corbion N.V., Dentsply Sirona, Evonik Industries AG, Johnson & Johnson, Koninklijke DSM N.V., Medtronic plc, Stryker Corporation, Victrex plc and Zimmer Biomet.

Key Questions Answered in This Report
1. What was the size of the global biomaterials market in 2022?
2. What is the expected growth rate of the global biomaterials market during 2023-2028?
3. What are the key factors driving the global biomaterials market?
4. What has been the impact of COVID-19 on the global biomaterials market?
5. What is the breakup of the global biomaterials market based on type?
6. What are the key regions in the global biomaterials market?
7. Who are the key players/companies in the global biomaterials market?