Biomaterials Market Size & Share, by Type of Materials - (Metallic, Ceramic, Polymer, Natural); Application - (Cardiovascular, Orthopedic, Dental, Plastic Surgery, Wound healing, Neurological Disorders, Tissue Engineering, Ophthalmology) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 1375
  • Published Date: Feb 06, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Biomaterials Market size is poised to cross USD 52 Billion by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of biomaterials was over USD 40 Billion. As per the estimated statistics, the number of Americans with no teeth is more than 35 million, and over 100 million have one missing tooth between 2019-2021.

The growing prevalence of musculoskeletal and chronic skeletal medical conditions and rising research on regenerative medicine are expected to propel the growth of the biomedical materials market during the forecast period. About 17.1 billion people are suffering from musculoskeletal conditions across the world in 2022.


Biomaterials-market
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Biomaterials Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Growth of Plastic Surgery and Wound Healing Applications – The development of regenerative medicine (a science of replacing, engineering, and regenerating human cells, tissues, and organs) was helping in damaged tissue repair, restore, and establish normal functioning of organs. The demand for plastic surgeries such as nasal reconstruction, and facial corrections is growing rapidly with a rising preference to look aesthetic.  All these factors are estimated to drive the market in the coming years. The number of plastic surgeries performed in the U.S in 2019 was 2,600,000.
  • Growing Disposable Income – As per the estimations, the disposable income of Costa Rica rose by 7.5%, and 6% in Poland in 2019.
  • Development of Healthcare Infrastructure – The government of India planned to introduce a credit incentive program of USD 6.8 billion to improve healthcare infrastructure.
  • Increasing Incidence of Target Diseases such as Cancer – As per the World Health Organization, in 2020 1 in 6 deaths are from cancer.
  • Growing prevalence of cardiovascular diseases –Cardiovascular disease lead to the death of 17.9 million people in 2019 as per the estimations.

Challenges

  • Stringent Clinical and Regulatory Processes
  • Bacterial Adhesion to Biomaterials Leading to Infection
  • Expensive Cost of Biomaterials

Biomaterials Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

6%

Base Year Market Size (2022)

 USD 40 Billion

Forecast Year Market Size (2033)

 USD 52 Billion

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Biomaterials Segmentation

Type of Materials - (Metallic, Ceramic, Polymer, Natural)

The global biomaterials market is segmented and analyzed for demand and supply by type of materials into metallic, ceramic, polymer, and natural. Out of these, the metallic biomaterials segment is anticipated to hold the largest market size by the end of 2033 on the back of the growing funds, and grants by government bodies and universities for the development of novel biomaterials are estimated to fuel market growth in the coming years. Also, the rising geriatric population across the world is also anticipated to fuel market growth owing to the increased use of biomaterials in drug delivery, tissue repair, and regeneration of bone. The geriatric population with the age 60 years and over increased from 1 billion in 2020 and reached 1.4 billion in 2022 across the world.

Our in-depth analysis of the global biomaterials market includes the following segments:

 

 

      By Type of Materials

  • Metallic
  • Ceramic
  • Polymer
  • Natural

 

        By Application

  • Cardiovascular
  • Orthopedic
  • Dental
  • Plastic Surgery
  • Wound healing
  • Neurological Disorders
  • Tissue Engineering
  • Ophthalmology

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Biomaterials Industry - Regional Synopsis

Regionally, the global biomaterials market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North American region is projected to hold the largest market share by the end of 2033 owing to the rising healthcare infrastructure, growing diabetic population, highest population pool, increasing healthcare market in emerging economies, and rising healthcare expenditure. The number of people suffering from diabetes across the world increased by 3% during 2000-2019.

Research Nester
Biomaterials-market-Size
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Companies Dominating the Biomaterials Landscape

top-features-companies
    • Covestro AG
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • HMA Group Holdings, LLC
    • Victrex plc
    • Corbion N.V.
    • Mitsubishi Chemical Group Holdings
    • AB Specialty Silicones, LLC
    • CeramTec GmbH
    • Olympus Corporation
    • Gelita AG
    • Evonik Industries AG 

In-the-news

In The News

  • Olympus Corporation declared the acquisition of FH ORTHO SAS, to build its portfolio on novel solutions to use in MIS procedures in ligament repair and foot, ankle, and trauma surgery.

  •  FDA NEWS designated the Bonalive biomaterials’ bone graft substitute as Breakthrough Device. The orthopedic granules of the substitute are made of bioactive glass used to fill bony voids and gaps to protect against microbial colonization during the bone healing process.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 1375
  • Published Date: Feb 06, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising disposable income and the growing prevalence of neurological disorders are the major factors driving the growth of the botulinum toxin market.

The market is anticipated to attain a CAGR of 10% over the forecast period, i.e., 2023-2033.

High cost of botulinum toxin methods and the rise of COVID-19 are the challenges affecting the market growth.

The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Merz Pharma GmbH & Co. KgaA, USWM LLC, Revance Therapeutics, Inc., Ipsen Group, Medytox, Inc., Nestlé S.A., HUGEL, Inc., AbbVie Inc., Galderma Group, and Evolus, Inc. and Object Pharma, Inc.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product, application, gender, age group, end-user, and by region.

The hospitals segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Biomaterials Market Report Scope
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