As per our report, the size of the European Biomaterials Market was worth USD 36179.49 Million in 2023 and is estimated to be growing at a CAGR of 14.30%, to reach USD 70581.95 Million by 2028.
The recent upsurge in biomaterials is mainly attributed to the tremendous research on advancements in medical technology for the efficient functionality of medical implants. In addition, concerns of biocompatibility and demand for superior implant mechanical performance have added to the need for progress in medical technology.
An increase in government grants and funding and extensive polymer usage in biomaterials are some of the factors driving the growth of the European biomaterials market. Further, with the escalation in the number of geriatric patients, the demand for biomaterials in cardiology, wound healing, neurology, and plastic surgery is also on the rise. Besides, new technologies such as hydrogen scaffolding and decellularized dermal matrixes for grafting will also contribute to strong market growth.
However, adverse reactions to biomaterial implants, inflammation and fracture issues, high cost associated with, and difficulties in manufacturing are the significant factors off-putting the growth of the European biomaterials market.
This research report on the European Biomaterials market has been segmented and sub-segmented into the following categories:
By Material Type:
Alongside North America and APAC, the European biomaterials market is also growing at a higher rate, which is expected to continue in the future years. The market growth rate is directly influenced by the rising demand for environmentally friendly products in the medical sector. The most prominent application area of the biomaterial market is an orthopedic illness, owing to an increase in the number of orthopedic surgeries requiring implants. Biomaterials are used in orthobiologics, bioresorbable tissue fixation products, joint replacements, spine implants, visco-supplementation, and nonconventional modular tumor implants. Moreover, the countries like Germany and the United Kingdom are investing a significant amount of money in implant imports. This might provide an opportunity for the company to expand its business in these countries.
The German biomaterials market is expected to dominate the European market during the forecast period due to the growing demand for cardiovascular illnesses and orthopedic operations. Furthermore, the United Kingdom will have the highest growth during the predicted period due to increased funds available for biomaterials. In addition, medical technology advancements, such as the creation of smart biomaterials and the improvement of healthcare infrastructure, are driving market expansion in this area. Furthermore, the rising prevalence of musculoskeletal and chronic skeletal disease problems is projected to increase demand for biomaterial-based implants, resulting in market expansion.
In addition, the United Kingdom and France are anticipated to witness a prominent share in the European biomaterials market. Growing geriatric patients, increasing healthcare spending, and the availability of advanced healthcare infrastructure are driving the market growth.
On the other hand, the countries such as Italy and Spain are most likely contributed to the European biomaterial market in the coming years. Some of the factors driving the expansion of the biomarkers market include a rise in government grants and financing and the widespread use of polymers in biomaterials. The industry's substantial growth will also be helped by new grafting methods, such as hydrogen scaffolding and decellularized dermal matrices.
KEY MARKET PLAYERS:
Some of the major companies operating in the European biomaterials market profiled in this report are DSM, Zimmer Biomet Holdings, Inc., Evonik Industries AG, Wright Medical Technology, Inc., Corbion N.V., Berkeley Advanced Biomaterials, Bayer AG, Carpenter Technology Corporation, Covalon Technologies Ltd., BASF SE, Invibio Ltd., Inc., CAM Bioceramics BV and Collagen Matrix, Inc.
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