Biomaterials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Biomaterials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Biomaterials Market is poised to grow at a CAGR of 13.69% over the forecast period, 2022-2027.

The COVID-19 pandemic is expected to have a significant impact on the market. Only emergency procedures have been allowed in medical care settings, which is likely to decline in the market in 2020. According to a study published in the British Journal of Surgery, in May 2020, based on a 12-week period of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries, worldwide, may be canceled or postponed in 2020. Moreover, according to a research study published in July 2020 by Ana C. Gonzales-Luna et. al., a reduction in the pacemaker implant of 73 was observed during the COVID-19 pandemic period, and a reduction of 78% of patients with the diagnosis of complete or high-grade atrioventricular block and a reduction in the de-novo pacemaker implant was observed, regardless of the etiology. The study was in the landscape of Peru and shows the impact of COVID-19 on the implant procedures in the country. According to a study conducted by the International Consortium, in May 2020, more than 580,000 planned surgeries in India may be canceled or delayed, due to the COVID-19 pandemic. Moreover, research suggests that orthopedic procedures are expected to be canceled most frequently, with 6.3 million orthopedic surgeries canceled, worldwide.

Certain factors that are driving the growth of this market are new innovations in the field of biomaterials, growing implant devices and plastic surgery market, and increasing applications of biomaterials in wound care/ sports injury. The high burden of musculoskeletal disorders like arthritis, dental diseases, accidents and other diseases or health conditions are expected to increase the demand of the implant devices around the world, which is expected to boost growth in the biomaterials market over the forecast period of the study. For instance, according to a research study published in December 2020, titled “The prevalence of rheumatoid arthritis in Spain”, the estimated prevalence of the rheumatoid arthritis in Spain was 0.82%, with the mean age of 60.48 years and rheumatoid arthritis was more prevalent in women as compared to men, and as arthritis is majorly common in geriatric population, the growing global geriatric population is further expected to increase the burden of the arthritis which is expected to have a positive impact on the growth of the studied market. As per a March 2020 update by the World Health Organization (WHO), it is estimated that oral diseases affect nearly 3.5 billion people worldwide and severe periodontal (gum) disease, which may result in tooth loss, is also very common, with almost 10% of the global population affected and this might lead to increase in the demand for the dental implants, driving growth in the biomaterials market.

However, growing number of plastic surgery expected to boost the market growth. According to the 2020 report of the International Society of Aesthetic Plastic Surgery (ISAPS), in 2020, 10.13 million surgical procedures were performed around the world as compared to 11.36 million surgical procedures in previous year. The decline in the number of surgical procedures was due to the COVID-19 pandemic as before that the number of plastic surgery procedures were on the rise, their demand is expected to grow as the number of procedures increases and studied market will grow.

Thus, all aforemention factors expected to boost the market growth over the forecast period. However, compatibility issue and strigent guideline restraint the market growth.

Key Market TrendsThe Dental Application Segment is believed to Witness the Fastest Growth

Dental biomaterials include metals, polymers, ceramics, and composites. The growing burden of dental diseases such as periodontal disease, tooth decay, oral cancer, halitosis, and dental caries are driving the demand for dental implants worldwide, which is expected to fuel growth in the studied market. According to the March 2022 update of the World Health Organization, caries of permanent teeth affects an estimated 2 billion individuals worldwide, while caries of primary teeth affect 520 million children. Also, as per the same source, oral disease prevalence continues to rise in most low- and middle-income nations, mainly to increased urbanization and changes in living conditions which is expected to increase the demand for dental implants and biomaterials and thus, the dental segment is expected to grow over the forecast period of the study.

Dental caries is a progressive infectious disease, and untreated dental caries in the elderly population can significantly impact the quality of life of older people around the world, which is a leading factor driving the growth in the studied market. For instance, according to the research study published in the International Journal of Environmental Research and Public Health, in October 2021, titled “A Systematic Review on Caries Status of Older Adults,” the prevalence and incidence of caries in elderly patients are the highest as compared to other age caries prevalence of 50% or more in their older adult population. Untreated caries varied among continents, with the highest prevalence found in Asia and Africa. In older adults, the prevalence of dental caries varied from 25% in Australia to 99% in South Africa, while the prevalence of root caries varied from 8% in Finland to 74% in Brazil. which is also expected to have a significant impact on the growth of the dental segment.

Furthermore, various strategies adopted by the key market players support the market expansion. For Instance, in January 2020, Pulpdent Corporation, dental research, and manufacturing company based in the Greater Boston area, launched their ACTIVA Presto dental material. The new white dental filling material mimics the properties of natural teeth. Thus, the above-mentioned factors are expected to boost the segment growth.

North America Dominates the Market and Expected to do the Same in the Forecast Period

North America is anticipated to account for a sizeable portion of the global biomaterials market due to the expanding target population, high adoption of cutting-edge products, and the presence of numerous pharmaceutical companies. According to a report by Weinstein Legal, published in March 2020, nearly 30 million children and adolescents participate in youth sports in the country each year.

According to the 2020 report of the American Society of Plastic Surgeons (ASPS), about 2.3 million cosmetic surgical procedures were performed in 2020. As per the same source, top five cosmetic surgical procedures were nose reshaping, eyelid surgery, facelift, liposuction, and breast augmentation. Also, as per the above-mentioned source, the top five reconstructive procedures that were performed in the United States were tumor removal (5.2 million), laceration repair (386,710), maxillofacial surgery (256,085), scar revision (263,643), and hand surgery (206,928), and as biomaterials and implants are used in cosmetic and reconstructive surgeries, the increase in these procedures is expected to boost growth in the studied market in the United States.

Furthermore, presence of well-established market players and strategic initiatives implemented by these market players along with continuous novel product launches also pave a way for the market growth. in April 2021, Noble Biomaterials announced the launch of Ionic+ fabric solution, Ionic+ Durable. Noble Biomaterials produces advanced material technologies designed for applications in the performance apparel, healthcare, industrial, and emerging wearable technology markets. Similarly, in January 2021, Essent Biologics, a biotechnology company, announced its launch as a new venture to meet the growing need for human-derived biomaterials and data to the regenerative medicine research community.

Thus, in view of the aforementioned factors, the studied market is predicted to grow tremendously over the forecast period in North America.

Competitive Landscape

The biomaterials market is moderately competitive. Some of the companies that are well known in this market are Zimmer Biomet, Corbion NV, Biomet Inc., Noble Biomaterials Inc., and Bayer AG. Currently, with the rising focus of all the companies on emerging economies, some of the small and mid-sized companies are also penetrating the market and competing for market share.

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