Biomaterials Market Size, Share and Industry Analysis, By Material (Metallic, Ceramic, Polymers, and Natural), By Application (Cardiovascular, Dental, Orthopedic, Plastic Surgery, Urology, Gastroenterology, and Others), and Regional Forecast, 2020-2032

The global biomaterials market size stood at USD 110.0 billion in 2019 and is projected to reach USD 420.6 billion by 2032, exhibiting a CAGR of 10.9% during the forecast period. North America dominated the biomaterials market with a market share of 40.75% in 2019.

Biomaterials play an integral role in healthcare today. They may be natural or synthetic and are used in medical applications to enhance, replace, or support damaged tissue or a biological function. Metals, ceramics, plastic, polymers, and even living cells and tissues can be used in creating a biomaterial.

They are used for a variety of applications such as in medical implants methods (including heart valves, stents, grafts, artificial joints, ligaments, tendons, dental implants) to promote the healing of human tissues (including sutures and clips), and in drug delivery systems. The biomaterials market growth is attributed to the factors such as rising prevalence of cardiovascular diseases, growing demand for implantable devices, increasing funds provided by the governmental and non-governmental organizations for the development of novel products, and growing preference for these in plastic surgery and wound healing applications.

Biomaterials Market Overview & Key Metrics

Market Size & Forecast:

• 2019 Market Size: USD 110.0 billion
• 2032 Forecast Market Size: USD 420.6 billion
• CAGR: 10.9% from 2019–2032

Market Share:

• North America dominated the biomaterials market with a 40.75% share in 2019, attributed to high government funding for R&D, a large number of orthopedic and cardiovascular procedures, and rapid product approvals.
• By material, the metallic biomaterials segment held the largest share due to their high mechanical strength, biocompatibility, and suitability for load-bearing implants such as stents, orthopedic screws, and joint replacements.

Key Country Highlights:

• United States: A major contributor to the North American market due to high surgical volume, technological innovation, and government support for biomaterial R&D. In 2017, over 1.6 million arthroplasties were performed in the U.S., with 966,000 knee replacements.
• Europe: Expected to maintain the second position during the forecast period, driven by rising demand for implantable biomaterials and an increase in new product launches by regional companies.
• Asia Pacific: Poised to register the fastest growth during the forecast period due to a rising elderly population, growing prevalence of cardiovascular and orthopedic diseases, and increasing medical tourism in countries like India, China, and Japan.
• Latin America & Middle East & Africa: Moderate growth expected, supported by increasing awareness, growing demand for dental implants and prosthetics, and investments in minimally invasive procedures.

MARKET TRENDS

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Growing Demand for Biomaterials in Plastic Surgery and Wound Healing Applications

The biomedical burden of treating injured or diseased organs continues to increase in parallel with the expanding population. Varieties of implantable devices are preferred due to their proven clinical efficacy and are currently being used as a scaffold for the reconstruction of soft or hard defects. In addition to this, they offer various advantages in wound healing applications. They promote tissue formation, preserve volume and shape, and shorten the time of wound healing. Through strategic collaborations and acquisitions, various key players are expanding their product portfolio for plastic surgery and wound healing applications. 

• North America witnessed a growth from USD 40.84 Billion in 2018 to USD 44.83 Billion in 2019.

For instance, in December 2019, Advanced Medical Solutions (AMS), a surgical and wound care company, acquired Biomatlante, a player in surgical biomaterial technologies.

MARKET DRIVERS

Increasing Incidence of Cardiovascular Diseases Globally to Fuel Market Growth

Cardiovascular diseases are one of the leading causes of death globally. Although surgical and pharmacological interventions dramatically improve cardiovascular patients' quality of life, cheaper and less invasive procedures are always preferable. Biomaterials, both natural and synthetic, exhibit great potential in cardiac repair and regeneration. The application of injectable biomaterials results in decreased left ventricular dilatation, increased angiogenesis, and preservation of cardiac function. The growing prevalence of cardiovascular diseases is thus, projected to fuel this market growth during the forecast period. 

For instance, according to CDC estimates in 2019, cardiovascular disease is the leading cause of death in the U.S., contributing to an estimate of 1 in 4 deaths every year.

Rising Demand for Implantable Devices to Provide Lucrative Growth to Market

The increasing prevalence of cardiovascular diseases, orthopedic replacements, arthritis, and sports injuries would lead to the growing demand for implantable devices. Also, unhealthy lifestyles, lack of physical activities, and rising geriatric population are triggering chronic health conditions. These factors are responsible for the increasing preference for implantable devices among the patient population. Biomaterial-based implants and devices enhance the quality of our lives by extending the functionality of essential body systems. For instance, according to CDC estimates, approximately 54.4 million adults in the U.S. were diagnosed with arthritis in 2015.

MARKET RESTRAINT

Stringent Clinical and Regulatory Processes to Hamper Market Growth

Biomaterial-based devices must undergo a stringent clinical and regulatory process to ensure their efficacy and quality. The major reason for this is the fact that most of the biomaterial devices are implantable. Hence, before their market approval, they must undergo various complicated, restrictive clinical and regulatory processes that depend on composition. This makes the market players apprehensive of investing in this market. These factors are expected to restrain the market growth during the forecast period.

SEGMENTATION

By Material Analysis

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Metallic Biomaterial Segment to Hold a Leading Market Share

• The Metallic segment is expected to hold a 30.1% share in 2019.

In terms of material, the market has been segmented into metallic, ceramic, polymers, and natural biomaterials. Among them, the metallic segment is anticipated to dominate the market. Metallic ones are engineered systems designed to provide internal support to biological tissues. They are preferred the most and are largely used for joint replacements, dental implants, stents, and orthopedic fixations. Their increasing adoption for these applications is due to their good mechanical properties, such as stiffness which makes them suitable for load-bearing implants. The advantages provided by these and high cost of metals would contribute to the growth of this segment. It would also hold the dominant share during the forecast period.

By Application Analysis

Cardiovascular Segment to Account for the Maximum Share

Based on application, the market is segmented into cardiovascular, dental, orthopedic, plastic surgery, urology, gastroenterology, and others. The cardiovascular segment dominated the market in 2019. The growth is attributed to the rising prevalence of cardiovascular diseases and growing adoption of biomaterials in advanced cardiovascular devices. They exhibit a great potential in cardiac repair and regeneration. According to the Centers for Disease Control and Prevention, approximately 30.3 million people in the U.S. were diagnosed with heart disease in 2017.

The orthopedic segment is among the other major application areas. Growing prevalence of orthopedic replacements, along with the introduction of new biomaterial, are expected to boost the growth of this segment during the forecast period.

REGIONAL ANALYSIS

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Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America market was valued at USD 44.83 billion in the year 2019. This dominance was attributable to the factors such as high government funding in research and development, high prevalence of the cardiovascular diseases and orthopedic replacements in countries such as the U.S., and growing number of new product launches by key market payers. 

For instance, according to a research study, approximately 1.6 million arthoplasties were performed in the U.S. in 2017, out of which over 966,000 were knee replacements. Europe is expected to hold the second position in implantable biomaterials market during the forecast period. Increased launches of innovative products by key players are majorly responsible for market expansion in the region.

As per our market research study, Asia Pacific is expected to exhibit the highest growth rate owing to a rise in the geriatric population along with the increasing patient pool of cardiovascular diseases and orthopedic replacements. Latin America and the Middle East & Africa are expected to reflect a moderate growth, attributable to the growing adoption of biomaterials for dental prosthetic designing, growing medical tourism, and increasing spending on minimally invasive procedures. Moreover, rapid developments in the region and growing awareness are the key factors that are anticipated to boost the market growth in these regions during the forecast period.

KEY INDUSTRY PLAYERS

Industry Leaders to Strongly Focus on New Product Developments to Maintain Competitive Position

Leading players in this market include Wright Medical Technology, Inc., Invibio Ltd., and Evonik Industries AG. Expansion of their product portfolios through various new product developments and inorganic growth through acquisition, mergers, and partnerships are the major strategies adopted by these players to maintain their dominance in the market. Along with this, a strong emphasis on the strategic expansion of their global presence through the network on distribution channels spread across the globe is likely to provide a strong foothold in this market.

LIST OF KEY COMPANIES PROFILED :

• Invibio Ltd (Washington)
• Wright Medical Technology, Inc. (United States)
• Evonik Industries AG (Germany)
• Zimmer Biomet (United States)
• DePuy Synthes Companies (United States)
• DSM Biomedical, Inc. (Netherlands)
• Corbion NV (Netherlands)
• Other Players

KEY INDUSTRY DEVELOPMENTS:

• Orthopedics Inc., and Invibio Biomaterial Solutions made an announcement of the successful initiation of the study and implantation for the total knee arthroplasty (TKA) on the very first patients with the new polymer, PEEK-OPTIMA™ femoral knee component. This component offers surgeons and patients a femoral component that has the ability to correct component to bone material mismatch.
• Evonik made an announcement of the completion of its acquisition with DURECT Corporation product line of LACTEL Absorbable Polymers. This acquisition will complement company’s innovation growth field in healthcare solutions and will position a company as global leader in integrated CDMO for drug delivery solutions.
• In2Bones global Inc., and Invibio made an announcement of the signing of multi-year development agreement to start research and development and manufacturing partnership. In this agreement companies will make major investments and share technical capabilities, intellectual property, clinical data and labor.
• DSM collaborated with PBC Biomed to mutually develop novel materials for medical devices. This collaboration will focus on the development of bone adhesives through PBC Biomed's affiliate. Companies aimed at strengthening their respective abilities to help medical device companies for the development of products that will address the increasing trends in medicine.

REPORT COVERAGE

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The biomaterials market report offers qualitative and quantitative insights on the biomaterials industry and the detailed analysis of market size & growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of the market dynamics, restraints, competitive landscape, regional analysis, and opportunities. It further offers the regulatory scenario for key countries, key industry developments such as mergers & acquisitions, an overview by critical countries, and snapshots on the novel & upcoming innovations.

Report Scope & Segmentation