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Market Summary
The global biomaterials market was valued at USD 192.10 billion in 2023. It is expected to grow at a CAGR of 12.4% during the forecast period of 2024-2032 and attain a market value of USD 550.08 billion by 2032. The market growth is driven by the rising prevalence of chronic diseases and aging population across the globe. Patent applications are focused on advanced technologies such as natural biomaterial, metallic biomaterial, ceramic biomaterial, and polymeric biomaterial among others.
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