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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, 2020-2027

Region : Global | Format: PDF | Report ID: FBI102770

 

KEY MARKET INSIGHTS

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The global biomaterials market size stood at USD 110.0 billion in 2019 and is projected to reach USD 245.6 billion by 2027, exhibiting a CAGR of 12.2% during the forecast period.

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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.


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. Various key players through strategic collaborations and acquisitions are expanding their product portfolio for plastic surgery and wound healing applications. For instance, in December 2019, Advanced Medical Solutions (AMS), a surgical and wound care company acquired a surgical biomaterial technologies player, Biomatlante.


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 improve the quality of life of cardiovascular patients dramatically, cheaper and less invasive procedure are always more 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 preferences 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 were diagnosed with arthritis in the U.S. in 2015.


MARKET RESTRAINT


Stringent Clinical and Regulatory Processes to Hamper Market Growth


Biomaterial-based devices have to 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 need to undergo various clinical and regulatory processes which are very complicated, depend on composition, and are restrictive. This makes the market players apprehensive of investing in this market. These are the factors that 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


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


North America Biomaterials Market Size, 2016-2027 (USD Billion)

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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:



  • November 2019 DiFusion received the FDA clearance for its Xiphos-ZF spinal interbody device, the first spinal implant developed from the biomaterial Zfuze.

  • October 2019 Evonik, a global leader in this market announced the commercial launch of the world’s first bioresorbable portfolio of PLA-PEG copolymers for use in implantable medical device applications.


REPORT COVERAGE


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.


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Report Scope & Segmentation








































 ATTRIBUTE



 DETAILS



Study Period



2016-2027



Base Year



2019



Forecast Period



2020-2027



Historical Period



2016-2018



Unit



Value (USD billion)



Segmentation



By Material



  • Metallic

  • Ceramic

  • Polymers

  • Natural



By Application



  • Cardiovascular

  • Dental

  • Orthopedic

  • Plastic Surgery

  • Urology

  • Gastroenterology

  • Others



By Geography



  • North America (the U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)



Frequently Asked Questions

Fortune Business Insights says that the market was valued at USD 110.0 billion in 2019 and is projected to reach USD 245.61 billion by 2027.

The global market was valued at USD 110.0 billion in 2019.

The market is projected to grow at a CAGR of 12.2% in the forecast period (2020-2027).

The metallic biomaterial is the leading segment in the market by material.

Rising prevalence of cardiovascular diseases, growing demand for implantable devices, as well as increasing funds provided by the governmental and non-governmental organizations for the development of novel products are driving the growth of the market.

Wright Medical Technology, inc., Invibio Ltd., and Evonik Industries AG are some of the top players in the market.

North America is expected to hold the highest share in the market.

Growing preference for biomaterials in plastic surgery and wound healing applications and strategic investments by key players in expanding the market are some of the trends.

Biomaterials Market Size, Share and Global Industry Trend Forecast till 2026
  • May, 2020
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  • 2016-2018
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