Business

Technological Advancements Driving Demand for Biomaterials

Biomaterial Market

Biomaterials Market:- With the surging prevalence of diseases across the globe, the investments in the healthcare industry are also growing. As per the World Health Organization, increased expenditure is the way to improve healthcare infrastructure. The rising expenditure will also result in enhanced accessibility and affordability of advanced medical services and devices, such as prosthetics and implants. In addition to all this, the rising healthcare expenditure is also projected to support ongoing research and development activities in the healthcare sector.

These factors are projected to drive the demand for biomaterials in the years to come. Biomaterials have now become an important part of the healthcare industry and are being used for facilitating healing and restoring function after a person suffers from a disease or injury. These materials are majorly utilized in medical applications for enhancing, supporting, or replacing a biological function or damaged tissue. Owing to technological advancement, the field has advanced a lot since the past few years.

Other than this, the demand for polymer biomaterials is also projected to rise in the years to come. The major applications of biomaterials are neurological condition, ophthalmology, plastic surgery, cardiovascular, wound healing, dental, and orthopedic. Among all these, the demand for biomaterials was the highest for cardiovascular applications in the past and the situation is expected to remain the same in the near future as well. This is primarily because of the growing geriatric population and surging prevalence of cardiovascular diseases.

Rising Demand

Apart from this, the demand for biomaterials is also projected to rise considerably for plastic surgery applications in the coming years, owing to the increasing consciousness of people about their physical appearance. Geographically, North America created the largest demand for biomaterials in the past and is further projected to emerge as the largest biomaterial market in the years to come as well. Technological advancements, surging geriatric population, and increased healthcare expenditure in the region are driving the demand for biomaterials.

In addition to this, the rising incidence of chronic diseases is also expected to drive the demand for biomaterials in North America. Within the region, the U.S. has been the major consumer of biomaterials, owing to advanced healthcare infrastructure. Other than this, the demand for these products is also expected to rise significantly in the Asia-Pacific region, because of the growing geriatric population, rising research and development, and increasing incidence of cardiovascular diseases.

Definition

Biomaterial refers to a non-viable substance that is used during interaction with biological systems and in medical devices. This material is used to substitute a part of a body in a psychologically acceptable, safe, and reliable method, as it poses properties such as biofunctionality, biocompatibility, adequate strength, and high-corrosion resistance. Cellulose, hydrogel, stainless steel, silicone rubber, titanium, collagen, poly(methyl methacrylate), and polyurethane are the most commonly used biomaterials. Over the years, technological advancements and emergence of innovative biomaterial products have led to the improvement of biomaterials’ performance and applications.

Moreover, the rising cases of cardiovascular diseases (CVDs) and booming elderly population are also accelerating the consumption of biomaterials, worldwide. Doctors use synthetic and natural biomaterials to repair the damages caused due to CVDs. Synthetic materials, including metals and polymers, and natural materials, which are derived from human organs and harvested animal tissues, are used to repair the injured tissues. Old people use biomaterials in abundance, as they are highly susceptible to heart diseases and often require biomaterials for hip and knee replacements.

Apart from CVD and orthopedic applications, biomaterials are also required in the treatment of dental diseases and neurological conditions. Additionally, these materials also find wide application in wound healing, ophthalmology, and plastic surgeries. These application areas use metallic, ceramic, and polymer biomaterials. Among different material types, metallic biomaterials will be utilized in the highest volume in the coming years. Whereas, the demand for polymer biomaterials is expected to grow at the highest rate during the forecast period.

According to P&S Intelligence

According to P&S Intelligence, North America consumes the largest quantity of biomaterials in the world. This is due to the huge healthcare spending, developed healthcare infrastructure, and technological advancements, in the region. Moreover, the rising aging population and increasing prevalence of CVDs will also generate the need for biomaterials in the coming years. In this region, the U.S. consumed the larger volume of biomaterials in the past and it is expected to utilize these materials at the higher rate in the coming years.

Whereas, the Asia-Pacific (APAC) biomaterial market is expected to advance at the highest rate in the foreseeable future, globally. This can be owed to the surging geriatric population, mounting healthcare expenditure, soaring incidence of CVDs, and rising research and development (R&D) activities, in the region. For instance, the 2011 Census of India revealed that there were around 104 million people aged 60 years or above in the country. Further, the United Nations Population Fund and HelpAge India estimate that the population of elderly persons will reach over 173 million by 2026.

Thus, the rising healthcare expenditure, growing prevalence of CVDs, and burgeoning elderly population will augment the usage of biomaterials in various healthcare facilities.

Hence, the market is being driven by increasing expenditure and rising research and development in the healthcare industry across the globe.

Table Of Content

Chapter 1. Research Scope and Methodology

1.1 Market Definition

1.2 Market Scope

1.2.1 Global Biomaterial market breakdown by material

1.2.2 Global Biomaterial market breakdown by application

1.2.3 Global Biomaterial market breakdown by region

1.3 Research Methodology and Sources

Chapter 2. Executive Summary

2.1 Key Findings

2.2 Research Summary

Chapter 3. Market Outlook

3.1 Introduction

3.2 Opportunities in the Market

3.2.1 Growing healthcare market in emerging economies

3.2.2 Increasing number of free-trade agreements

3.3 Factors Driving Growth of the Market and its Impact on Market Forecast

3.3.1 Growing geriatric population

3.3.2 Increasing prevalence of cardiovascular diseases

3.3.3 Technological advancement

3.3.4 Growing implantable devices market and increasing number of hip and knee replacements

3.3.5 Increasing research and development activities

3.3.6 Increasing healthcare expenditure

3.3.7 Impact analysis of drivers on market forecast

3.4 Factors Hindering Growth of the Market and its Impact on Market Forecast

3.4.1 Stringent regulatory requirements

3.4.2 Limitations of biomaterials

3.4.3 Impact analysis of restraints on market forecast

Chapter 4. Global Biomaterial Market Size and Forecast 

4.1 Global Biomaterial Market, by Material

4.2 Global Biomaterial Market, by Application

4.3 Global Biomaterial Market, by Region

Chapter 5. Global Biomaterial Market, by Material

5.1 Metallic Biomaterial Market

5.1.1 Metallic biomaterial market, by type

5.1.2 Metallic biomaterial market, by region

5.2 Polymer Biomaterial Market

5.3 Ceramic Biomaterial Market

Chapter 6. Global Biomaterial Market, by Application

6.1 Biomaterial Market for Cardiovascular Application

6.2 Biomaterial Market for Orthopedic Application

6.3 Biomaterial Market for Dental Application

6.4 Biomaterial Market for Plastic Surgery

6.5 Biomaterial Market for Wound Healing

6.6 Biomaterial Market for Ophthalmology

6.7 Biomaterial Market for Neurological Condition

Chapter 7. Global Biomaterial Market, by Geography

7.1 North America Biomaterial Market

7.1.1 North America biomaterial market, by material

7.1.2 North America biomaterial market, by application

7.1.3 North America biomaterial market, by country

7.1.3.1 U.S. biomaterial market

7.1.3.1.1 U.S. biomaterial market, by material

7.1.3.1.2 U.S. biomaterial market, by application

7.2 Europe Biomaterial Market

7.2.1 Europe biomaterial market, by material

7.2.2 Europe biomaterials market, by application

7.2.3 Europe biomaterial market, by country

7.2.3.1 Germany biomaterial market

7.2.3.1.1 Germany biomaterial market, by material

7.2.3.1.2 Germany biomaterials market, by application

7.2.3.2 U.K. biomaterial market

7.2.3.2.1 U.K. biomaterial market, by material

7.2.3.2.2 U.K. biomaterial market, by application

7.2.3.3 France biomaterial market

7.2.3.3.1 France biomaterial market, by material

7.2.3.3.2 France biomaterial market, by application

7.3 Asia-Pacific Biomaterial Market

7.3.1 Asia-Pacific biomaterials market, by material

7.3.2 Asia-Pacific biomaterial market, by application

7.3.3 Asia-Pacific biomaterial market, by country

7.3.3.1 Japan biomaterial market

7.3.3.1.1 Japan biomaterial market, by material

7.3.3.1.2 Japan biomaterial market, by application

7.3.3.2 China biomaterial market

7.3.3.2.1 China biomaterial market, by material

7.3.3.2.2 China biomaterial market, by application

7.3.3.3 India biomaterial market

7.3.3.3.1 India biomaterial market, by material

7.3.3.3.2 India biomaterial market, by application

7.4 Rest of the World (RoW) Biomaterial Market

7.4.1 RoW biomaterials market, by material

7.4.2 RoW biomaterials market, by application

Chapter 8. Competitive Positioning Analysis

8.1 Porter’s Five Forces of Competitive Position Analysis

8.1.1 Bargaining power of buyers

8.1.2 Bargaining power of suppliers

8.1.3 Threat of new entrants

8.1.4 Intensity of rivalry

8.1.5 Threat of substitutes

8.2 Competitive Positioning of Global Biomaterials Market, by Material

Chapter 9. Company Profiles and Strategic Developments

9.1 Key Company Profiles

9.1.1 Wright Medical Group N.V.

9.1.1.1 Business overview

9.1.1.2 Product and service offerings

9.1.2 Corbion nv

9.1.2.1 Business overview

9.1.2.2 Product and service offerings

9.1.3 Koninklijke DSM N.V.

9.1.3.1 Business overview

9.1.3.2 Product and service offerings

9.1.4 Zimmer Biomet Holdings, Inc.

9.1.4.1 Business overview

9.1.4.2 Product and service offerings

9.1.5 Berkeley Advanced Biomaterials, Inc.

9.1.5.1 Business overview

9.1.5.2 Product and service offerings

9.1.6 Collagen Matrix, Inc.

9.1.6.1 Business overview

9.1.6.2 Product and service offerings

9.1.7 Cam Bioceramics B.V.

9.1.7.1 Business overview

9.1.7.2 Product and service offerings

9.1.8 Victrex plc

9.1.8.1 Business overview

9.1.8.2 Product and service offerings

9.2 Strategic Developments in the Biomaterials Market

9.2.1 Product approval/launch

9.2.2 Merger and acquisition

9.2.3 Other developments

Chapter 10. Appendix

10.1 List of Abbreviations

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