Biomaterials Market Size, Share, Growth Analysis, By Type(Natural Biomaterial, Metallic Biomaterial, Ceramic Biomaterial, Polymeric Biomaterial), By Application(Neurology, Cardiology, Orthopedics, Ophthalmology), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35H2027 | Region: Global | Published Date: June, 2024
Pages: 157 |Tables: 69 |Figures: 75

Biomaterials Market Insights

Biomaterials Market size was valued at USD 135.4 billion in 2019 and is poised to grow from USD 155.9 billion in 2023 to USD 438.1 billion by 2031, growing at a CAGR of 15.4% in the forecast period (2024-2031).

Biomaterials are synthetic or natural materials that are artificially created and utilized in medical technology to enhance the function of damaged tissues and organs. Biomaterials play an important role in the healthcare industry. They are used in medical applications to augment, replace, or sustain damaged tissue or biological functions. Biomaterials can be made from metals, ceramics, plastic, polymers, and even living cells and tissues. They are employed in a range of applications, including medical implants (such as heart valves, stents, grafts, artificial joints, ligaments, tendons, and dental implants), sutures, and clips to assist in the healing of human tissues, and drug delivery systems.

Increasing demand for biomaterials in plastic surgery and wound healing applications, rising prevalence of cardiovascular, neurological, and orthopedic disorders, growing global geriatric population, growing demand for implantable devices, and increased funds and grants from government bodies and universities for the development of novel biomaterials are all major factors driving the growth of the biomaterials market.

US Biomaterials Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 135.4 billion

Largest Segment

Metallic Biomaterial

Fastest Growth

Metallic Biomaterial

Growth Rate

15.4% CAGR

Global Biomaterials Market ($ Bn)
Country Share for North America Region (%)

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Biomaterials Market Segmental Analysis

The Global biomaterials market is segmented on the basis of type, application, and region. Based on the type, the market is segmented into natural biomaterial, metallic biomaterial, ceramic biomaterial, and polymeric biomaterial. Based on the application, the market is segmented as neurology, cardiology, orthopedics, ophthalmology, wound care, dental, plastic surgery, and other applications. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Biomaterials Market Analysis by Type

In 2021, the metallic biomaterial segment of the market is projected to hold the most lucrative share of more than 30% of the market. The segmental growth of the market is attributed to the increased adoption of metallic biomaterials over other biomaterials due to their various benefits. Metallic engineered systems are meant to provide internal support to biological tissues. They are the most commonly utilized material for joint replacements, dental implants, stents, and orthopedic fixations. Due to their mechanical qualities, including rigidity, which makes them suited for load-bearing implants, they are becoming more often used in these applications. The benefits provided by these, as well as the high cost of metals, are likely to aid the segment's growth.

Biomaterials Market Analysis by Application

In 2021, the cardiovascular segment of the market is projected to hold the most lucrative share of more than 30% of the market. The segmental growth of the market is attributed to the rising prevalence of cardiovascular diseases and the growing adoption of biomaterials in advanced cardiovascular devices. They exhibit great potential in cardiac repair and regeneration. Heart disease is the leading cause of mortality across the globe, and about 370,000 Americans lose their lives every year. In addition, the rise in the number of geriatric populations, technological advancement, and increasing investment by major players are expected to provide a significant growth rate to the market in the future years. Hence, the increased prevalence of these diseases is likely to create a wide scope for the growth of the market.

Global Biomaterials Market By Type (%)

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Biomaterials Market Regional Insights

The Global biomaterials market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the North American region is projected to hold the most substantial share of the market. The regional market is likely to be driven by the high prevalence of cardiovascular diseases and orthopedic replacements, high government funding in research and development, a growing number of new product launches by key market players, and a well-established healthcare sector. According to the American Heart Society, in 2017, CVD was the major cause of around 800,000 mortalities in the US. Direct and indirect costs associated with CVDs are estimated to be around $316 billion. Around 2,200 Americans lost their lives due to CVDs each day. CVDs claim to take more lives each year than all forms of cancer and chronic lower respiratory diseases altogether.

Global Biomaterials Market By Region
  • Largest
  • Fastest

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Biomaterials Market Dynamics

Biomaterials Market Driver

  • The key factor that drives the industry growth includes increased funds and grants by government bodies and universities for the development of novel biomaterials. Over the last few years, there has been a considerable increase in the demand for and use of biomaterials in numerous medical applications all over the world. Several government agencies and institutions have offered financial assistance in the form of investments, money, and grants to encourage research into the development of innovative biomaterials. For example, the National Science Foundation awarded Drexel University USD 200,000 in March 2018 for research into how biomaterial-mediated control of macrophage behavior affects biomaterial vascularization. Such research and funding initiatives are likely to spur the creation of novel biomaterials, providing a plethora of potential for the biomaterials market to expand.

Biomaterials Market Restraint

  • The major aspect that hinders the industry growth includes stringent clinical & regulatory processes. Biomaterials are regulated under strict clinical & regulations. This is due to the fact that most biomaterial-based medical devices are implantable. Before new biomaterials are licensed for marketing, they must demonstrate that they are both safe and effective. The FDA sets tight criteria and regulations for the approval procedure in the United States. Biomaterial-based devices, such as implantable pacemakers, stents, and cardiac valves, are categorized as Class III devices by the FDA, posing the greatest risk of disease or harm. As a result, these devices must go through the premarket approval application process (the most stringent type of device marketing application). Hence, this might challenge the growth of the market.

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Biomaterials Market Competitive Landscape

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.

Biomaterials Market Top Player's Company Profiles

  • Evonik Industries AG
  • Corbion
  • BASF SE
  • Royal DSM NV
  • Invibio Ltd.
  • Carpenter Technology Corporation
  • Celanese Corporation
  • Berkeley Advanced Biomaterials, Inc.
  • Cam Bioceramics B.V.
  • Collagen Matrix, Inc.
  • Bayer AG
  • Medtronic plc
  • Wright Medical Group N.V.
  • Zimmer Biomet Holdings, Inc.
  • Stryker Corporation
  • Danaher Corporation
  • Becton, Dickinson and Company
  • Thermo Fisher Scientific Inc.
  • 3M Company
  • DuPont de Nemours, Inc.

Biomaterials Market Recent Developments

  • In May 2022, DuPont's former biomaterials division has been relaunched as a new company. Following the closing of the $240 million sales from DuPont, Huafon Group created Covation Biomaterials, a private subsidiary of Huafon Group.
  • In May 2022, Rousselot, launched Quali-Pure™ HGP 2000, a new endotoxin-controlled, pharmaceutical-grade gelatin specifically designed for vaccines and wound healing applications.

Biomaterials Key Market Trends

  • One of the key trends in the global biomaterials market is the increased demand for biomaterials in plastic surgery and wound healing applications. The biomedical cost of treating injured or diseased organs is rising along with the growing population. Implantable devices are selected due to their proven clinical efficacy, and they are being used as a scaffold for the restoration of soft and hard deformities. Furthermore, they have a number of advantages in wound healing applications. They stimulate tissue development, volume and shape preservation, and wound healing time reduction. Various major players are increasing their product portfolio for plastic surgery and wound healing applications through strategic cooperation and acquisitions. For example, in December 2019, Advanced Medical Solutions (AMS), a surgical and wound care firm, purchased Biomatlante, a surgical biomaterial technology company.

Biomaterials Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. SQ identified the key dominating segments of the market by offerings and verticals.

According to our analysis, among the type, the metallic biomaterials segment is projected to hold a dominating share during the period. Among the application, the cardiology segment is projected to hold a dominating share throughout the forecast period.

Report Metric Details
Market size value in 2019 USD 135.4 billion
Market size value in 2031 USD 438.1 billion
Growth Rate 15.4%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Natural Biomaterial, Metallic Biomaterial, Ceramic Biomaterial, Polymeric Biomaterial
  • Application
    • Neurology, Cardiology, Orthopedics, Ophthalmology, Wound Care, Dental, Plastic Surgery, Other Applications
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Evonik Industries AG
  • Corbion
  • BASF SE
  • Royal DSM NV
  • Invibio Ltd.
  • Carpenter Technology Corporation
  • Celanese Corporation
  • Berkeley Advanced Biomaterials, Inc.
  • Cam Bioceramics B.V.
  • Collagen Matrix, Inc.
  • Bayer AG
  • Medtronic plc
  • Wright Medical Group N.V.
  • Zimmer Biomet Holdings, Inc.
  • Stryker Corporation
  • Danaher Corporation
  • Becton, Dickinson and Company
  • Thermo Fisher Scientific Inc.
  • 3M Company
  • DuPont de Nemours, Inc.
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  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Biomaterials Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Biomaterials Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Biomaterials Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biomaterials Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biomaterials Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Biomaterials Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Biomaterials Market size was valued at USD 135.4 billion in 2019 and is poised to grow from USD 155.9 billion in 2023 to USD 438.1 billion by 2031, growing at a CAGR of 15.4% in the forecast period (2024-2031).

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Evonik Industries AG', 'Corbion', 'BASF SE', 'Royal DSM NV', 'Invibio Ltd.', 'Carpenter Technology Corporation', 'Celanese Corporation', 'Berkeley Advanced Biomaterials, Inc.', 'Cam Bioceramics B.V.', 'Collagen Matrix, Inc.', 'Bayer AG', 'Medtronic plc', 'Wright Medical Group N.V.', 'Zimmer Biomet Holdings, Inc.', 'Stryker Corporation', 'Danaher Corporation', 'Becton, Dickinson and Company', 'Thermo Fisher Scientific Inc.', '3M Company', 'DuPont de Nemours, Inc.'

The key factor that drives the industry growth includes increased funds and grants by government bodies and universities for the development of novel biomaterials. Over the last few years, there has been a considerable increase in the demand for and use of biomaterials in numerous medical applications all over the world. Several government agencies and institutions have offered financial assistance in the form of investments, money, and grants to encourage research into the development of innovative biomaterials. For example, the National Science Foundation awarded Drexel University USD 200,000 in March 2018 for research into how biomaterial-mediated control of macrophage behavior affects biomaterial vascularization. Such research and funding initiatives are likely to spur the creation of novel biomaterials, providing a plethora of potential for the biomaterials market to expand.

One of the key trends in the global biomaterials market is the increased demand for biomaterials in plastic surgery and wound healing applications. The biomedical cost of treating injured or diseased organs is rising along with the growing population. Implantable devices are selected due to their proven clinical efficacy, and they are being used as a scaffold for the restoration of soft and hard deformities. Furthermore, they have a number of advantages in wound healing applications. They stimulate tissue development, volume and shape preservation, and wound healing time reduction. Various major players are increasing their product portfolio for plastic surgery and wound healing applications through strategic cooperation and acquisitions. For example, in December 2019, Advanced Medical Solutions (AMS), a surgical and wound care firm, purchased Biomatlante, a surgical biomaterial technology company.

The Global biomaterials market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the North American region is projected to hold the most substantial share of the market. The regional market is likely to be driven by the high prevalence of cardiovascular diseases and orthopedic replacements, high government funding in research and development, a growing number of new product launches by key market players, and a well-established healthcare sector. According to the American Heart Society, in 2017, CVD was the major cause of around 800,000 mortalities in the US. Direct and indirect costs associated with CVDs are estimated to be around $316 billion. Around 2,200 Americans lost their lives due to CVDs each day. CVDs claim to take more lives each year than all forms of cancer and chronic lower respiratory diseases altogether.

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