Biomaterials Market (Updated Version Available)

Key Market Overview:

Biomaterials Market size was valued at USD 139.99 Billion in 2022, accounting for a CAGR growth of 13.7% during the forecast period (2023-2030), and the market is projected to be valued at USD 390.09 Billion by 2030.

Biomaterials are substances that are designed to interact with living systems, including biological tissues, cells, and fluids. Biomaterials are derived from nature or synthesized in the laboratory using metallic components, polymers, ceramics, or composite materials. Each material has unique properties that make it suitable for different applications. For instance, biomaterials are used to design medical devices which are used to replace or augment a natural function such as heart valves, hip replacements, and others. Furthermore, metals are often used in orthopedic implants, ceramics in dental implants, and polymers in drug delivery systems.
Key market players undergo collaboration in the biomaterials industry to develop novel materials for medical devices, specifically bone adhesives, to address the need for safer, less invasive, and more cost-effective surgical procedures. For instance, in September 2020, DSM and PBC Biomed partnered to jointly design and develop novel materials for medical devices, with an initial focus on bone adhesives through PBC Biomeds affiliate, Biomimetic Innovations, to provide safer, less invasive, and cost-effective surgical procedures. Moreover, Asia Pacific is expected to be the fastest-growing region in the biomaterials market during the forecast period. The growth is attributed to the increasing prevalence of chronic diseases in the region, such as cardiovascular diseases, diabetes, and cancer. These diseases require medical interventions that often involve the use of biomaterials, such as stents, implants, and drug delivery systems, among others which led to rising demand for biomaterials.

Biomaterials Market Report Coverage:

Report Attributes	Report Details
Study Timeline	2017-2030
Market Size in 2030 (USD Billion)	390.09 Billion
CAGR (2023-2030)	13.7 %
Base Year	2022
By Material Type	Metals Biomaterials (Stainless Steel, Titanium Alloys, Cobalt Alloys, and Others (Gold, Silver, and Magnesium)), Ceramics Biomaterials (Zirconia Ceramics, Calcium Phosphate, and Others), Polymers Biomaterials (Polyester, Polyethylene, Polypropylene, Polymethyl Methacrylate, and Others), and Natural Biomaterials (Hyaluronic Acid, Collagen, Gelatin, Fibrin, Cellulose, and Others)
By Application	Orthopedic Implants (fixation (Bone Plates, Screws, Pins, Roads, and Others), Artificial Joints, Artificial Spines, Joint Replacements (Knee Replacement, Shoulder Replacement, and Others), Synthetics Bone Grafts, and Others), Dental Implants (Dental Implants, Dental Bone Grafts, and Others), Cardiovascular Devices (Catheters, Stents, Implantable Cardiac Defibrillators, Vascular Grafts, and Others), Wound Care, Tissue Engineering, Drug Delivery Systems, and Others (Hearing Loss Implants, Devices that Stimulate Nerves)
By Geography	Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
Key Players	Medtronic plc, Johnson & Johnson, DSM N.V., Evonik Industries AG, Dentsply Sirona, Corbion N.V., Berkeley Advanced Biomaterials, Inc., Invibio Ltd., Stryker Corporation, and Covalon Technologies Ltd.

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Market Dynamics:

Driver:

The rising incidence of chronic diseases, such as cardiovascular diseases, diabetes, and cancer, created a significant demand for biomaterials. Furthermore, biomaterials are increasingly used in medical applications such as drug delivery systems, tissue engineering, and implants. For instance, in drug delivery systems, biomaterials are used to encapsulate drugs and control their release, which improves drug efficacy and reduces side effects. In tissue engineering, biomaterials are used as scaffolds to support the growth of new tissue, such as bone or cartilage, which are used to repair damaged or diseased tissue. All these above-mentioned factors are driving the demand for the biomaterials market.

Restraint:

• Biomaterials should meet rigorous safety and efficacy standards before they are approved for use in medical applications. This is a significant barrier to entry for smaller companies and further limits the speed of innovation in the field. Hence, market growth is restricted due to stringent regulatory requirements.

• Some biomaterials are derived from animal sources which raise ethical concerns among some patients and healthcare providers. Hence, market growth is limited due to these rising ethical concerns.

Opportunities:

The growing demand for minimally invasive surgical procedures, which require smaller incisions and less recovery time, presents opportunities for the development of biomaterials that can be used in these procedures. Furthermore, advances in biomaterials technology, combined with developments in genomics and personalized medicine, present opportunities for the development of customized biomaterials that can be tailored to an individuals unique needs.

Market Segmentation:



By Material Type

The material type segment is categorized into metals biomaterials (stainless steel, titanium alloys, cobalt alloys, and others (gold, silver, and magnesium)), ceramics biomaterials (zirconia ceramics, calcium phosphate, and others), polymers biomaterials (polyester, polyethylene, polypropylene, polymethyl methacrylate, and others), and natural biomaterials (hyaluronic acid, collagen, gelatin, fibrin, cellulose, and others). In 2022, the polymers biomaterial segment accounted for the highest market share in the biomaterials market, because polymers are widely used in medical devices and implants due to their favorable properties such as biocompatibility, ease of manufacturing, and cost-effectiveness.
However, ceramics biomaterial is expected to be the fastest-growing segment in the market over the forecast period. This is because ceramics have excellent biocompatibility and mechanical properties, which make them suitable for use in various medical applications, including dental and orthopedic implants.

By Application

The application segment is categorized into orthopedic implants (fixation (bone plates, screws, pins, roads, and others), artificial joints, artificial spines, joint replacements (knee replacement, shoulder replacement, and others), synthetics bone grafts, and others), dental implants (dental implants, dental bone grafts, and others), cardiovascular devices (catheters, stents, implantable cardiac defibrillators, vascular grafts, and others), wound care, tissue engineering, drug delivery systems, and others (hearing loss implants, devices that stimulate nerves). The orthopedic implants segment accounted for the highest market share in 2022. The growth of this segment is due to the increasing prevalence of bone and joint disorders such as osteoporosis, arthritis, and injuries related to sports and accidents.
Moreover, the rising incidence of cardiovascular diseases such as coronary artery disease, heart failure, and hypertension is driving the demand for cardiovascular devices such as stents, catheters, and implantable cardiac defibrillators. Hence, cardiovascular devices are expected to be the fastest-growing segment during the forecast period.

By Region

By region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, North America accounted for the highest market share in the Biomaterials market. This is attributed to factors such as the presence of a large number of key market players, well-established healthcare infrastructure, and high healthcare expenditure. Additionally, the increasing demand for advanced medical treatments and the rising prevalence of chronic diseases are driving growth in the region.



However, Asia-Pacific is expected to be the fastest-growing region in the market during the forecast period, due to the increasing aging population, the rising prevalence of chronic diseases, and the growing demand for advanced medical treatments. Additionally, government initiatives to promote the development of biomaterials and investments by key market players in the region are expected to further boost growth.

Biomaterials Market Competitive Landscape:

The biomaterials market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-

• Medtronic plc.
• Johnson & Johnson
• DSM N.V.
• Evonik Industries AG
• Dentsply Sirona
• Corbion N.V.
• Berkeley Advanced Biomaterials, Inc.
• Invibio Ltd.
• Stryker Corporation
• Covalon Technologies Ltd.

Recent Developments:

• In July 2021, Maxx Orthopedics and Invibio Biomaterial Solutions initiated a feasibility study to evaluate the safety and effectiveness of their new all-polymer femoral knee component for primary total knee arthroplasty. The study aims to assess the products market potential.

• In December 2020, Evonik Industries AG completed its acquisition of DURECT Corporations LACTEL Absorbable Polymers product line. Further, all LACTEL employees accepted offers to join Evonik in similar roles, ensuring a smooth transition.