Precedence Research, Recently Published Report on “Biomaterials Market Size, Share, Growth, Trends, Segment Forecasts, Regional Outlook 2020 - 2027”. The report offers an up-to-date analysis regarding the current market scenario, latest trends, key drivers, potential challenges, profitability graph and the overall market environment.
The global Biomaterials Market value is projected to reach US Dollar 390.92 billion by 2027 and is projected to expand at a CAGR of ~15.2% from 2020 to 2027.
Biomaterials play an important role in medical industry. They are the derived substance that directly interacts with the biological system for restoring or healing after disease or injury. Biomaterials may be synthetic or natural and are used in medical applications to enhance, support, or replace the damaged tissue or a biological function. Biomaterials are used in broad range of applications that include methods to promote healing of human tissues, medical implants, molecular probes and nanoparticles, regenerated human tissues, drug-delivery system, and biosensors.
Growth Factors
The government of various regions along with universities researching on medical sector has allocated funds for the development of novel biomaterials. The aforementioned factor expected to drive the market growth. For instance, two European Commission programs allotted USD 15.6 Billion for research on biomaterials for a period of five years from 2013 to 2017. Similarly, in March 2018, Drexel University issued USD 200,000 to the National Science Foundation for researching on how biomaterial vascularization gets affected from the biomaterial-mediated control over macrophage behavior.
However, in various regions such as Asia Pacific, Europe, and North America, government has stringent regulations for the application of biomaterial-based medical devices to ensure their efficacy and quality. The above mentioned factor expected to hamper the market growth in the coming years.
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Report Highlights
- In 2019, North America led the global biomaterials market due to initiatives taken by different private and public organizations. Furthermore, increasing number of surgeries along with the presence of numerous market players in the region account for the significant growth of the market.
- The Asia Pacific anticipated witnessing the fastest growth during the analysis period. This is attributed to the major strategies adopted by the regional players to reinforce their presence in both global as well as regional market.
- Based on product, polymer segment led the global biomaterials market with considerable revenue share in 2019 and projected to continue its dominance in the coming years. This is mainly attributed to the wide range of applications of polymer products. Besides this, natural biomaterials anticipated to register the highest growth rate over the forecast period due to numerous benefits offered by the product over synthetic biomaterials related to biocompatibility, biodegradability, and remodeling.
- By application, the orthopedic segment captured maximum revenue share in the global biomaterials market in 2019. Rising adoption of metallic biomaterials owing to their high load bearing capacity is one of the prime factors that drive the growth of the segment. Besides this, significant developments and on-going investments for the advancement in orthopedic implants by market participants are Moreover, plastic surgery analyzed to grow at a significant pace during the forecast period owing to increasing number of cosmetic procedures along with significant application of biomaterials in such surgeries. likely to propel the market growth in the next years to come.
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Regional Snapshots
In 2019, North America accounted for the maximum revenue share in the global biomaterials market. This is mainly due to significant growth in the number of surgeries in the region along with application of biomaterials in those surgeries. According to the stats presented by American Society of Plastic Surgeons (ASPS), nearly 18 Million people in the United States have undergone surgical or minimally invasive cosmetic procedures in the year 2018.
However, the Asia Pacific registered the fastest growth rate over the forecast period. Factors attributed to the prominent growth of the biomaterials market in the Asia Pacific region include rapid growth of healthcare industry in Japan, rising cosmetic & plastic surgeries, increasing geriatric population, increasing cases of knee & hip replacement procedures, rising prevalence of cardiovascular diseases, and growing research activities.
Key Players & Strategies
The global biomaterials market is highly competitive due to the presence of numerous regional as well as international players along with significant investments from these market participants to expand their presence. In addition, the market vendors adopt inorganic growth strategies such as partnerships, agreements, collaboration, and merger & acquisition to strengthen their product portfolio. Product development is the fundamental strategy that every market players adopt and invest prominently to expand their offerings. For instance, in October 2019, Evonik Industries launched its bio-resorbable PLA-PEG copolymers, which are designed to be used in implantable medical devices. The product development improved the safety, biocompatibility, and performance of implantable products that are used by medical device customers.
Some of the key players operating in the market are Evonik Industries AG, Medtronic plc, Berkeley Advanced Biomaterials, Corbion, Carpenter Technology Corporation, Zimmer Biomet Holdings, Inc., Invibio Ltd., Covalon Technologies Ltd., BASF SE, Johnson & Johnson, Stryker Corporation, CoorsTek Inc., DentsplySirona, and Collagen Matrix, Inc.among others.
Market Segmentation
By Product
- Metallic
- Ceramics
- Natural
- Polymers
By Application
- Ophthalmology
- Cardiovascular
- Dental
- Orthopedic
- Plastic Surgery
- Tissue Engineering
- Neurology
- Others
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Rest of the World
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Biomaterials Market, By Product
7.1. Biomaterials Market, by Product Type, 2020-2027
7.1.1. Metallic
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Ceramics
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Natural
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Polymers
7.1.4.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Biomaterials Market, By Application
8.1. Biomaterials Market, by Application, 2020-2027
8.1.1.1. Ophthalmology
8.1.1.2. Market Revenue and Forecast (2016-2027)
8.1.1.3. Cardiovascular
8.1.1.4. Market Revenue and Forecast (2016-2027)
8.1.2. Dental
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Wound Healing
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Orthopedic
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Plastic Surgery
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. Tissue Engineering
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.7. Neurology
8.1.7.1. Market Revenue and Forecast (2016-2027)
8.1.8. Others
8.1.8.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Biomaterials Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
Chapter 10. Company Profiles
10.1. Evonik Industries AG
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Medtronic plc
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Berkeley Advanced Biomaterials
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Corbion
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Carpenter Technology Corporation
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Zimmer Biomet Holdings, Inc.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Invibio Ltd.
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Covalon Technologies Ltd.
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. BASF SE
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Johnson & Johnson
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
10.11. Stryker Corporation
10.11.1. Company Overview
10.11.2. Product Offerings
10.11.3. Financial Performance
10.11.4. Recent Initiatives
10.12. CoorsTek Inc.
10.12.1. Company Overview
10.12.2. Product Offerings
10.12.3. Financial Performance
10.12.4. Recent Initiatives
10.13. DentsplySirona
10.13.1. Company Overview
10.13.2. Product Offerings
10.13.3. Financial Performance
10.13.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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