Biomaterials Global Market Report 2022
Major players in the biomaterials market are Carpenter Technology Corporation, Corbion NV, Evonik Industries, Royal DSM, Berkeley Advanced Biomaterials, BASF SE, Zimmer Biomet, Johnson and Johnson, Invibio, Medtronic, Organogenesis Holdings Inc, Stryker, Wright Medical Group NV, 3M Healthcare, AdvanSource Biomaterials Corporation, Baxter, Covestro, Cam Bioceramics BV, Celanese Corporation, CoorsTek Inc, CeramTec, Victrex plc and Collagen Matrix Inc.
New York, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biomaterials Global Market Report 2022" - https://www.reportlinker.com/p06318541/?utm_source=GNW
The global biomaterials market is expected to grow from $91.08 billion in 2021 to $103.18 billion in 2022 at a compound annual growth rate (CAGR) of 13.28%. The biomaterials market is expected to reach $180.36 billion in 2026 at a compound annual growth rate (CAGR) of 15.03%.
The biomaterials market consists of sales of biomaterials by entities (organizations, sole traders, and partnerships) that refer to natural or synthetic materials used in medical applications to support, enhance, or replace damaged tissue or a biological function. Biomaterials are manmade substances that can be utilized to support tissues or structures in the body.
The main types of biomaterials are metallic biomaterial, polymeric biomaterials, natural biomaterials and ceramics.The metallic biomaterial are a stainless steels, titanium alloys, and cobalt alloys used to provide internal support to biological tissues.
The metallic biomaterials are manmade systems that are utilized in joint replacements, dental implants, orthopedic fixations, and stents to offer internal support to biological tissues. Biomaterials have a wide application in cardiovascular, orthopedic, ophthalmology, dental, plastic surgery, wound healing, tissue engineering and neurological/central nervous system and are used in hospitals and clinics, ambulatory surgical centers and other end users.
North America was the largest region in the biomaterials market in 2021. The regions covered in the biomaterials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The biomaterials market research report is one of a series of new reports that provides biomaterials market statistics, including biomaterials industry global market size, regional shares, competitors with a biomaterials market share, detailed biomaterials market segments, market trends and opportunities, and any further data you may need to thrive in the biomaterials industry. This biomaterials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rising incidence of cardiovascular diseases is driving the growth of the biomaterials market.Cardiovascular disorders are caused by high blood pressure, smoking, high cholesterol, inactivity, and other factors.
The increase in the prevalence of cardiovascular disorders is mainly due to noncontagious diseases like diabetes, chronic respiratory illness, and heart attacks due to hypertension.Biomaterials such as heart valves, cardiopulmonary bypass system, stents, vascular grafts, complete artificial heart, and pacemakers are used as a healing mechanism for damaged and diseased heart tissue.
For instance, according to the World Health Organization (WHO), in 2019, 17.9 million people worldwide died from cardiovascular diseases accounting for 32% of all global deaths. Of these, 85% of deaths were due to stroke and heart attack. It indicates that there is a high incidence of cardiovascular diseases and it is the leading cause of death globally. Therefore, the rising incidence of cardiovascular diseases will raise the demand for biomaterials.
The strategic partnership is a key trend gaining popularity in the biomaterials market.Key companies are focusing on partnerships to develop new implants and combination devices based on biomaterials by leveraging each other’s expertise, technology, and resources.
These partnerships are also focused on enhancing the adoption of biomaterials.Such partnerships enable companies to gain a competitive edge in the market and increase revenue.
For instance, in January 2019, a Netherlands company offering biomedical materials DSM Biomedical, and ProMed Pharma, a US-based leading contract manufacturer of polymer-based combination device components and drug-eluting products, announced a partnership to create novel sustained release drug implants and combination devices using DSM’s biomedical biomaterials with ProMed’s micro molding and extrusion capabilities. This partnership enables both companies to strengthen their capabilities and offer products that address growing needs in medicine.
In January 2021, Evonik Industries AG, a German specialty chemicals company acquired the LACTEL business of biodegradable polymers from DURECT Corporation for $15 million.With this acquisition, Evonik aims to expand in fast-growing markets such as biomaterials for tissue engineering, advanced drug delivery, and the 3D printing of implantable medical devices.
DURECT Corporation is a US-based specialty pharmaceutical company.
The countries covered in the biomaterials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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