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(Medical-NewsWire.com, August 09, 2018 ) Market Overview:
In the year 2018 Global Biomaterials Market was valued at USD 96642.86 Million. By the year 2023, it is predicted to reach USD 185975.2 Million with pace of 13.99% CAGR.
Biomaterial is a natural or synthetic material used in replacement of tissue, treat natural body tissues, and organs transplantation. Biomaterial has evolved to include biodegradable materials that are easily dissolved in the body. Advancement of technology and the emergence of innovative biomaterial products have enhanced medical performance and applications.
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Factors affecting market growth:
Increased investments, funding by government bodies globally. (+)
Rising collaborations between medical and pharmaceutical industries. (+)
Increasing R&D activities. (+)
Advancements of technology, and increasing applications of biomaterials. (+)
Growing number of aging population globally. (+)
Increasing prevalence of cardiovascular, orthopedic disorders and other chronic diseases across the world. (+)
Stringent regulatory requirements. (-)
Unfavorable reimbursement facilities. (-)
Immunological and inflammatory reactions. (-)
Issue of fracture fatigue. (-)
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The Global Biomaterials Market is segmented on the basis of
Neurological /central Nervous Systems.
In the global biomaterial market metallic biomaterial segment holds the largest market share as it is widely used in orthopedic procedures for bone support and replacement, dental, cardiovascular, cosmetic ant other surgeries. Besides polymeric biomaterial segment is estimated to grow rapidly during the forecast period. On the basis of application segment orthopedic disorder is the largest application segment in the global biomaterial market, due increasing of orthopedic surgeries using implants, joint replacements and spine implants.
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Leading companies for Global Biomaterial market are Berkeley Advanced Biomaterials, Bayer AG, Carpenter Technology Corporation, Covalon Technologies Ltd., BASF SE, Invibio Ltd., Inc., CAM Bioceramics BV, Collagen Matrix, Inc., Royal DSM, Zimmer Biomet Holdings, Inc., Evonik Industries AG, Wright Medical Technology, Inc., and Corbion N.V.
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