Global Biomaterials Market to Grow at a CAGR of 14.1% During 2024-2032, Aided by the Rapid Technological Advancements

The global biomaterials industry is being driven by the rapid technological advancements. The leading manufacturers are utilising advanced technologies in order to enhance the effectiveness of biomaterials, such as the creation of versatile biomaterials to be used in a variety of clinical procedures and the development of smart biomaterials. Moreover, the growing demand for biomaterials such as the metallic biomaterial in orthopaedic applications is expected to drive the market growth. Furthermore, the growing investments in the healthcare infrastructure by the governments to develop effective biomaterial solutions for the efficient treatment of patients are expected to aid the market.

The growing focus of the leading players to expand their portfolio and strengthen the effectiveness and utility of their products is expected to catalyse the industry growth in the forecast period. For instance, in April 2021, Zimmer Biomet Holdings Inc. (NYSE: ZBH) announced the FDA clearance for its ROSA Partial Knee System for robotically assisted partial knee arthroplasty. This product is the newest edition to Rosa Robotics, which comprises ROSA Knee System for total knee replacement surgery and ROSA ONE for neurosurgical and spine procedures. In addition, another leading biomaterial manufacturer Dentsply Sirona Inc (NASDAQ: XRAY), in a press release dated January 2021, announced the acquisition of Datum Dental Ltd., the provider of OSSIX biomaterial portfolio. Through this acquisition, Dentsply Sirona aims to ensure superior dental regeneration products that would enhance the future of implant dentistry and oral care. These developments are expected to positively impact the growth of the biomaterials industry in the forecast period.

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Market Breakup by Product Type, Application, and Region:

• The market is categorised based on product type into natural biomaterial, metallic biomaterial, ceramic biomaterial, and polymeric biomaterial.

• On the basis of application, the market can be divided into neurology, cardiology, orthopaedics, ophthalmology, wound care, dental, plastic surgery, and others. 

• Region-wise, the global market for biomaterials can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for biomaterials is being driven by the rapid technological advancements in biomaterial technology.

• The growing geriatric population with increasing issues of chronic illness such as cardiovascular ailments have significantly contributed to the market expansion. 

• The rapid adoption of biomaterials across different medical fields is also aiding the industry growth. 

• The growing investments in the research and development of biomaterial manufacturing are further propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for biomaterials for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product types, applications, and major regions of biomaterials.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global biomaterials market are Koninklijke DSM N.V., Corbion N.V., Zimmer Biomet, Noble Biomaterials Inc, Bayer AG, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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