Biomaterials Market size was valued at USD 42.56 Billion in 2023 and is projected to exceed USD 95.33 Billion by the end of 2036, expanding at over 6.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of biomaterials is evaluated at USD 45.01 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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.4% |
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Base Year Market Size (2023) |
USD 42.56 Billion |
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Forecast Year Market Size (2036) |
USD 95.33 Billion |
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 2036 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:
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By Type of Materials |
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By Application |
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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 2036 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.
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 Pawar
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