Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Global Biomaterials Market Overview
Biomaterials are artificially engineered biological substance which interacts with the biological systems. The science of biomaterials includes chemistry, biology, medicine, tissue engineering and material science. Biomaterials are developed in the laboratory artificially or can be directly synthesized from nature. They are artificial materials which can be used for implantation or replacement/repair of a normal healthy tissue in the body and are also used in regenerative dentistry followed by cartilage and bone replacement procedures in the field of orthopaedic surgery.
Its potential to generate a physiological response which is supportive to the function of biomaterial as well as performance is technically called bioactivity. In the case of bioactive ceramics, the term bioactive is often used to refer the ability of implanted materials to bond and link effectively with the neighbouring tissues. Orthopaedic biomaterial implants facilitates the regeneration and development of the bone. Its ability to mimic the natural biological processes is an important property.
The prime property of any biomaterial is its biocompatibility which can be defined as the ability of a material to perform an appropriate response in a given specific situation. If any biomaterial is not biologically compatible in the body, the host body will reject it and it may lead to severe negative health implications. Both bioactivity and biocompatibility are the most important properties of biomaterials. The other properties of biomaterials include fracture strength, elastic modulus, fracture toughness, hardness, fatigue, ductility etc.
Market Size and Forecast
The market is observing vibrant growth on account of increasing geriatric population and growing rate of hip and knee replacement surgical procedures. Rheumatoid arthritis, osteoarthritis, and various types of sports related injuries are anticipated to drive the demand for biomaterials in upcoming years. Additionally, increase in the technological advancement coupled with rising awareness for biomaterials is expected to fuel the growth of the market. Furthermore, different types of advanced research and development activities in the field of medical surgeries and biomaterial implants are also expected to boost the market growth.
The biomaterials market is anticipated to record a CAGR of 11.7% over the forecast period i.e. 2019-2027. The market is segmented by type into ceramic, polymeric, metallic and others, out of which, the metallic biomaterials segment is anticipated to have leading market share in the global biomaterials market as they are strong and have high tensile strength. These metallic biomaterial implants are extensively used in orthopaedic surgical replacement procedures. They are also used widely in cosmetic surgeries, dental replacements and cardiovascular surgeries. They extensively facilitate the development and regeneration of the damaged or broken bone.CLICK TO DOWNLOAD FREE SAMPLE REPORT
Growth Drivers
Increased Prevalence of Road Accidents
There is an increased prevalence of road accidents across the globe. Many people worldwide die on the roads every day and tens of millions of people experience fatal injuries or disabilities every year. Though, the number of road accidents have decreased worldwide, there is still an increase in the prevalence of road accidents which includes deaths and serious fatalities. These road accidents contribute to many types of disabilities or structural deformities of legs, hands, limbs etc. which makes orthopaedic replacement a necessity. These road accidents can lead to other structural deformities in the body. With an increase in the road accident related injuries or fatalities, the market is expected to expand significantly over the forecast period.
Rise in Geriatric Population
Old people are extensively susceptible to the degradation of bone and dental health and have a higher chance of suffering from bone related disorders which includes osteoarthritis, rheumatoid arthritis, osteoporosis, hip and knee problems etc. The bone related disorders takes place because calcium leaches out from the bone which results in loss in bone density. Dental health also gets affected as people age, further resulting in the implantation of dental implants. According to National Institute of Health (NIH), geriatric population across the world is anticipated to increase. Globally, 8.5% of the world population (617 million) are aged 65 and over. According to the latest report, this percentage is expected to rise approximately 17% of the total worldwide population by the year 2050 (1.6 billion). This increase in the geriatric population is expected to boost the market share over the forecast period.
Restraints
Biocompatibility Issues Related to Biomaterials
The most important property of biomaterial is biocompatibility. If it is not compatible with the biological system, the immune system will consider it foreign which will result in rejection that may lead to various types of health disorders that could be fatal. Such factors are anticipated to limit the growth of the market.
Market Segmentation
Our-in depth analysis of the global biomaterials market includes the following segments:
By Type
By Applications
By Regions
On the basis of regional analysis, the global biomaterials market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America and Europe region are anticipated to lead the market because of the increase in investment by the government and rising awareness of tissue engineering. Further, rise in the geriatric population is also fuelling the growth of the market in these regions. Middle East and Africa and Asia Pacific markets are anticipated to showcase a significant growth over forecast period which can be attributed to the growing rate of implementation of biomaterials in medical surgery procedures in these regions.
The global biomaterials market is further classified on the basis of region as follows:
Key Players
Disclaimer | Privacy Policy | Terms & Conditions
Copyright © 2020 Research Nester. All Rights Reserved
