Key Growth Drivers That Will Take the Biomaterials Market for Implantable Devices to US$33,600 Million by 2019: Transparency Market Research

20 Jan, 2016, 07:30 ET from Transparency Market Research

ALBANY, New York, January 20, 2016 /PRNewswire/ --

In a latest research report published by Transparency Market Research (TMR) "Biomaterials Market for Implantable Devices - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", the global biomaterials market is forecasted to grow at a CAGR of 4.1% between 2013 and 2019. According to the report, the market is estimated to be valued at US$33,600 million by 2019, increasing from US$25,277.8 million in 2012.Biomaterials are fabricated from either synthetic or natural origin materials that are used for medical implants. Heart valves, dental implants, artificial hip joints, and intraocular lenses are some of the commonly used medical implants for which biocompabitility and safety needs to be guaranteed, since these implants come in close proximity to internal organs in the human body. Owing to such reasons it necessary that biomaterials are biocompatible, which means they should not interfere with the physiology and not cause any immunogenic reaction in the human body.

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The biomaterials market comprises of material types such as metals, polymers, ceramics and materials derived from natural resources. Metals constituted the largest segment in the overall biomaterials market with a revenue share of more than 50% in the global biomaterials market. Major metals used in medical applications are alloys of titanium, nickel, chromium, nanosilver, stainless steel and aluminum. However, during the forecast period 2013 to 2019, polymers are expected to register fastest growth amongst all segments mainly because of increasing applications of these biomaterials and several advantages over metals which include flexibility, elasticity, bioinertness, biocompatibility, and longevity. The usage of polymers such as polytetrafluoroethylene (PTFE) and polyurethanes has become popular for synthetic vascular grafts, while the mainstream usage of polymers in ophthalmology is expected to increase with rising incidences of ophthalmic disorders and constant demand from aging population.

The demand metals, polymers, ceramics, and natural origin biomaterials has significantly increased since these have proven to be safe, affordable, and reliable. Increasing geriatric population worldwide has led to growing incidences of diseases such as arthritis and osteoporosis. Moreover, the aging people are also more prone to accidents and injuries, which has increased the demand for graft transplant surgeries and medical implants. This in turn will drive the biomaterials market. The medical implants market is propelled to counter the increasing morbidity among the elderly population, thereby propelling the biomaterials market.

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Here's what research studies say about the future of the biomaterials market for implantable devices 

For a biomaterial to be successfully used with implantable devices, it needs to be biocompatible. A material is said to be biocompatible when it can be introduced within the body without proving toxic or damaging to other living tissues. And, biomaterials have to be easy to procure and affordable to patients. Keeping these characteristics in mind, there are only a handful of materials that qualify as biomaterials. These include: certain types of polymers, ceramics, metals, and natural-origin biomaterials.

According to a recent research report, the global biomaterials market for implantable devices was estimated to be worth US$25,277.8 million as of 2012. Come 2019 and this market would have soared to nearly US$33,600 million, registering a compounded annual growth rate (CAGR) of 4.1% from 2013 through 2019. This means that this market is poised to experience moderate, but positive growth.

Technological advances introduced in the medical and healthcare industry has led to improved functionality and efficiency of medical implants and its associated procedures. This has contributed significantly to the growth of the biomaterials market. The research report segments the biomaterials market on the basis of material types which is further divided as per applications of these biomaterials for various medical conditions. In 2012, metal type biomaterials held the largest market share in the biomaterials market.

Furthermore, large number of medical implant procedures performed in developed nations such as the United States, Germany, the U.K., Spain, Canada, France, and Italy are impressively fuelling the biomaterials market. Among the key regional markets, North America dominates the global biomaterials market. Eye disorders, bone-related diseases, dental problems, and fractures have become very common in the U.S. which is fueling demand for biomaterials in the country.

Browse Regional Analysis: http://www.europlat.org/growing-demand-for-implantable-medical-devices-driving-biomaterials-market.htm

Companies mentioned in the biomaterials market for implantable devices study: 

The report profiles prominent names in the global biomaterials market for implantable devices, such as: AdvanSource Biomaterials Corporation, Biomet, Inc., Celanese Corporation, Collagen Matrix, Inc., Ceradyne, Inc., DuPont, Evonik Industries AG, Royal DSM, Corbion Purac, and Invibio, Inc.

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