Biomaterials Market Outlook:
Biomaterials Market size was valued at USD 143.5 billion in 2024 and is projected to reach USD 373.8 billion by the end of 2037, rising at a CAGR of 7.9% during the forecast period 2025 to 2037. In 2025, the industry size of the biomaterials is estimated at USD 154.9 billion.
The biomaterials market is fueled by the increasing rise of patient volume for chronic and surgical conditions. As per the data from the U.S. Centers for Disease Control and Prevention, nearly 900,010 knee and hip replacement procedures were done in the U.S, which mostly relied on polymers or metal-based biomaterial for implants in 2023. Additionally, more than 695,010 people in the U.S. alone suffer from cardiovascular disease each year, which fuels a significant need for stents, scaffolds, and patches made of synthetic biomaterials. On the other hand, the Horizon Europe Program has funded almost €350.9 million every year on advanced materials and regenerative therapies in the healthcare sector.
Furthermore, the consumer price index for medical care supplies rose to 4.5% year over year and is mostly used as a proxy for patient-level biomaterials, whereas the producer price index increased by 3.8% on surgical supplies and manufacturing, highlighting the inflationary pressure on manufacturing cost. The biomaterial supply chain is based on materials such as complex, biologics, metals, and spanning polymers. Most of the high-tech materials used in the advanced orthopedic and dental applications are obtained from medical grade APIs or EU-based additive manufacturing, or engineered through the U.S. In 2023, the United States imported more than USD 5.8 billion worth of Class III medical devices and biomaterials components, mostly from Germany, Switzerland, and Ireland, according to data from the U.S. International Trade Commission. The regulatory frameworks and the fast track approvals are enhancing the flow and scalability for manufactures in the space of business.
