LONDON, April 26, 2016 /PRNewswire/ -- A biomaterial is a natural or synthetic material suited to replace or treat natural body tissues and organs on interaction with biological systems.
Biomaterials are revolutionizing several facets of preventive and therapeutic healthcare and are being increasingly used in the development of new medical devices, drug delivery systems, replacement technologies, prostheses, tissue repair, and diagnostic techniques. The medical fraternity across the globe has witnessed a radical paradigm shift due to the growing demand, consumption, and prominence of these materials. Biomaterials are the focus of major research efforts across the globe due to the quality-of-life benefits they offer. Incessant research globally for fulfilling the requirement of highly biocompatible products is a pivotal factor that is stimulating the growth of the global biomaterial market. This has led to immense development of metal, ceramic, polymer, and natural biomaterial-based products.
In 2015, the metallic segment is expected to account for the larger share of the global biomaterials market, by type of material, while the cardiovascular segment is expected to account for the largest share of biomaterial market, by application.
In 2015, North America is expected to account for the largest share of the global biomaterials market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). North America's large share is attributed to biomaterials-based research in the U.S., growing demand for plastic surgeries in the U.S., conferences on biomaterials in the U.S., increase in cancer incidences in the U.S., growing prevalence of cardiovascular diseases in the U.S., and increasing funding and R&D activities for biomaterials in Canada. In the coming years, the biomaterial market is expected to witness the highest growth rate in the Asian region, with emphasis on India, China, and Japan. The high growth in India and China can be attributed rising cosmetic and plastic surgeries in India, lucrative medical device industry and new tax policy in China, growing number of cardiovascular diseases and increasing aging population in China, and biomaterials workshops & conferences in China.
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (agreements, partnerships, joint ventures, collaborations, geographic expansion, new product launches, and acquisitions) to increase their market shares and establish a strong foothold in the global market.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps the firms to garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of top players in the biomaterials market. The report analyzes the biomaterials market, by type of material and by application
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the biomaterials market
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for various biomaterials across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the biomaterials market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the biomaterials market
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