The Biomaterial Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape etc. According to the report the Biomaterials Market is estimated to be $66.12 Billion in 2015 and predicted to rise to $125.152 Billion by 2020 with a CAGR of 14%. The market is segmented on the basis of material (metallic, ceramic, polymer) and application (cardiovascular, orthopedic, dental, Plastic surgery, wound healing). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The major drivers for this market are increased funds & grants by government bodies worldwide, growing implantable devices market, technological advancements, rising number of hip and knee replacement procedures, and high growth in geriatric population coupled with growing incidence of cardiovascular diseases are driving the growth of this market. The demand of plastic surgery, wound healing application will see a rise, which will further drive the growth of the biomaterials market.
The metallic Segment is the largest share in the biomaterials market. Biocompatibility, strength, and resistance to breakage are the major reasons for the market’s growth in this segment, which makes them suitable for usage in various medical applications and procedures requiring strength and toughness. But, with the continuous research and advancement for highly biocompatible polymer and with the increasing applications, the polymeric biomaterials will soon capture the market in the coming years.
Asia-Pacific is the most promising region with India, China and Japan witnessing the fastest and sustainable growth. The high growth in India and China can be attributed to rise in demand for cosmetic and plastic surgeries, lucrative medical device industry and new tax policy in China, growing number of cardiovascular diseases along with increasing aging population, and biomaterials workshops & conferences in these regions. North America is the market leader in the global biomaterials market. North America’s leadership in the market can be attributed to the biomaterials-based research in the U.S., growing demand for plastic surgeries., conferences on biomaterials, increase in cancer incidences, growing prevalence of cardiovascular diseases, and increasing funding and R&D activities for biomaterials in Canada.
Key Players in the market are Royal 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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