Global Biomaterials Market Report and Forecast 2024-2032

Global Biomaterials Market Outlook

The global biomaterial market size attained a value of USD 149.24 billion in 2023. The market is likely to grow further at a CAGR of 14.1% during the forecast period of 2024-2032 to attain a value of USD 489.17 billion by 2032.

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Orthopaedics Segment to Augment the Growth of the Global Biomaterials Industry

Based on application, the orthopaedics segment is expected to hold a significant share in the global biomaterials industry during the forecast period. This growth can be attributed to the increasing demand for orthopaedic implant surgery as a result of the rising prevalence of orthopaedic disorders, which, in turn, is enhancing the demand for metallic biomaterials for surgical procedures owing to their excellent load-bearing properties. In addition, the increasing investments to develop improved products are also aiding the market. For instance, researchers at the University of Birmingham have created a new thermoplastic biomaterial from a type of nylon. This biomaterial can be shaped using heat and is strong enough to be used as a bone implant. Such developments are expected to drive the market growth in the coming years.

North America to Occupy a Significant Market Share in the Global Biomaterials Industry

North America is predicted to hold a significant market share in the global biomaterials industry. This surge can be attributed to the favourable initiatives taken by the leading manufacturers and the government in the region to expand the usage of biomaterials in a variety of clinical applications. In addition, the growing geriatric population, which is more susceptible to illnesses and injury, is leading to an increased demand for biomaterials in applications such as cardiovascular and dental implants. For instance, in 2019, the leading biomaterial manufacturer, Zimmer Biomet Holdings Inc, announced the FDA clearance for its new Persona Revision Knee System for the revision knee replacement procedures.

Biomaterials: Market Segmentation

Biomaterials refer to a substance that is created to interact with biological systems for clinical purposes, which can be therapeutic in order to treat and repair a tissue function of the body or diagnostic. These can be derived from nature or constructed in a lab setting by utilising chemical solutions to use metallic components, polymers, ceramics or composite materials. These are used in biomedical devices that are used to augment or replace a natural body function, such as heart valves or hip implants and are very commonly used in dental applications. Materials such as certain types of metals, ceramics, plastic, glass, and even living cells and tissue can be utilised in the process of creating biomaterials.

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By product type, the market is distributed into:

• Natural Biomaterial 
• Metallic Biomaterial
• Ceramic Biomaterial 
• Polymeric Biomaterial

On the basis of application, the industry can be categorised into:

• Neurology
• Cardiology
• Orthopaedics
• Ophthalmology
• Wound Care
• Dental
• Plastic Surgery 
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Rapid Technological Advancements to Bolster the Growth of the Global Biomaterials Industry

Biomaterials are increasingly being developed to provide effective treatment and replacement facilities among patients. Through the use of advanced technological solutions, the leading manufacturers are creating biomaterials that are versatile and can be utilised in varied clinical procedures such as tissue engineering. Moreover, the development of smart biomaterials that have the ability to interact with biological systems and to respond to changes in physiological parameters and external stimuli is also expected to contribute to the market growth. In addition, the rising investments in the expansion of the healthcare infrastructure due to the growing prevalence of chronic illnesses and the rapidly ageing population are also expected to positively impact the market growth.

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Key Industry Players in the Global Biomaterials Market

The report gives a detailed analysis of the following key players in the global biomaterials market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Koninklijke DSM N.V.
• Corbion N.V.
• Zimmer Biomet
• Noble Biomaterials Inc.
• Bayer AG
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report

Biomaterials Market Report Snapshots

Biomaterials Market Size

Biomaterials Companies