Global Biomaterials Market
Global Biomaterials Market Overview:
The global market for biomaterials is expected to register a CAGR of 13.2%. Some of the variables driving this market’s development are fresh developments in the field of biomaterials, expanding implant equipment and plastic surgery market, and growing applications of biomaterials in wound care / sports injury.
Various kinds of biomaterials, such as bioinert, bioactive, bioabsorbable, etc., have been created to serve specific purposes in multiple applications. For example, when introduced into the body, bioinert biomaterials are developed to be inert or inactive. The purpose is to prevent blood clotting by providing a surface for vascular surgery. The creation of each distinctive type of biomaterial broadened the scope of implementation and, in turn, broadened the market income generation. A broad variety of biomaterials have been developed recently, such as metallic, ceramic polymeric, and natural biomaterials. Each of these types has led to applications in specialty areas, ranging from neurology to plastic surgery.
New innovations in cosmetic surgery are boosting the UK biomaterials industry, with more than 71,000 UK citizens opting for cosmetic surgery in 2015. Overall, invasive cosmetic procedures increased by 12.7% with increased demand for all procedures. Scientists are creating new techniques of using biomaterials in life science applications. The use of biomaterials in drug delivery is one successful implementation that makes its mark on the industry studied. As new and improved biomaterials are being developed, their applications are expanding. These apps provide various sources of income generation in the industry studied. Since 1995, the number of cosmetic procedures performed in the United States has increased six-fold. More inventions and improvements in biomaterials are anticipated to drive the market growth studied in the coming years.
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Global Biomaterials Market Report s Scope:
Biomaterials are substances designed to communicate with biological structures for medical purposes, either therapeutic treatment, augmentation, repair or replacement of the body s tissue function or diagnostic purposes.
Global Biomaterials Market Key Trends.
Orthopedics is believed to witness the Fastest Growth in Application-wise Segmentation:
In the biomaterials market application segmentation, orthopedics is thought to develop over the prediction era with the greatest CAGR.
The orthopedic application of biomaterials consists mainly of bone graft substitutes, which include allograft, autograft, demineralized bone matrix, bone morphogenetic proteins, cell-based matrices, and synthetic bone graft substitutes.
BMP-2 INFUSE , a recombinant DNA product, is one of Medtronic s most renowned products that helps to heal fractures faster.
Bone graft replacements discover most of their apps in spinal fusion, trauma fixation, joint reconstruction, craniomaxillofacial fixation, dental fixation, and other apps. Growth factor improved grafts are anticipated to have a strong growth rate studied in the industry. This involves factors of human development or morphogens. There is a change from autologous / allogeneic bone graft replacements for synthetic bone graft replacements. Technological advances for better osteoinductivity, osteoconductivity, and osteogenicity are expected to boost market growth.
India is expected to experience the fastest growth in the Asia-Pacific region:
The market for biomaterials is increasing rapidly in India. Orthopedic, dental and cardiovascular biomaterials have a significant share in the Indian biomaterials market. The growing orthopedic procedures, dental surgery and cardiovascular surgery are the factors for elevated market shares in orthopedic and cardiovascular biomaterial products.
Due to the elevated incidence of cardiac illnesses and growing pacemaker processes in India, the pacemaker industry is anticipated to have continuous demand and steady growth rate during the forecast period.
Medtronic is a pacemaker market leader. There is a high angioplasty rate with stent placement and a parallel demand for the same. The Indian biomaterials market is experiencing increasing demand for bone graft substitutes and the market being studied for the same is expected to rise during the forecast period.
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Global Biomaterials Market Competitive Landscape:
The market for biomaterials is moderately competitive. Some of the businesses that are well known in this industry are Koninklijke DSM N.V., Corbion NV, Biomet Inc., Noble Biomaterials, Inc. and Bayer AG. Currently, with all businesses focusing on emerging economies, some of the tiny and medium-sized businesses are also penetrating the market and competing for market share.
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