Biomaterials Market Outlook:
Biomaterials Market size was valued at USD 204.06 billion in 2024 and is likely to cross USD 840.01 billion by 2034, registering more than 15.2% CAGR during the forecast period i.e., between 2025-2034. In the year 2025, the industry size of biomaterials is estimated at USD 230.42 billion.
Key Biomaterials Market Insights Summary
The market in the North American region is expected to hold the largest share by 2037
The metallic biomaterials segment is projected to capture the largest share of the biomaterials market by 2037
Key Growth Trends:
Increasing Growth of Plastic Surgery and Wound Healing ApplicationsGrowing Disposable IncomeKey Players:
Covestro AG,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
Market Size and Growth Projections
- 2024 Market Size: USD 204.06 billion
- 2025 Market Size: USD 230.42 billion
- Projected Market Size: USD 840.01 billion by 2034
- Growth Forecasts: 15.2% CAGR (2025-2034)
- Largest Region: North America
- Fastest Growing Region: North America
The growing prevalence of musculoskeletal and chronic skeletal medical conditions and rising research on regenerative medicine are expected to propel the biomedical materials market growth. About 17.1 billion people are suffering from musculoskeletal conditions across the world in 2022.
Biomaterials Market Growth Drivers and Challenges:
Growth Drivers
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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
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Stringent Clinical and Regulatory Processes
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Bacterial Adhesion to Biomaterials Leading to Infection
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Expensive Cost of Biomaterials
Biomaterials Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2034 |
|
CAGR |
15.2% |
|
Base Year Market Size (2024) |
USD 204.06 billion |
|
Forecast Year Market Size (2034) |
USD 840.01 billion |
|
Regional Scope |
|
Biomaterials Market Segmentation:
Type of Materials Segment Analysis
The metallic biomaterials segment is set to account for largest biomaterials market share by the end of 2037, on the back of growing funds, and grants by government bodies and universities for the development of novel biomaterials. Also, rising geriatric population across the world is anticipated to fuel the 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 |
|
|
By Application |
|
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Customize this ReportBiomaterials Market Regional Insights:
The market in the North American region is poised to hold largest share by the end of 2037, owing to rising healthcare infrastructure, growing diabetic population, highest population pool, increasing healthcare sector in emerging economies, and rising healthcare expenditure. The number of people suffering from diabetes across the world increased by 3% during 2000-2019.
Key Biomaterials Market Players:
- 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
Recent Developments
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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.
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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
- Report ID: 1375
- Published Date: Jun 13, 2025
- Report Format: PDF, PPT
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Biomaterials Market Report Scope
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