BLOOMINGTON, Minnesota, August 9, 2017 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled 'Global Biomaterials Market- Analysis and Forecast (2017-2021)', the global biomaterials market is expected to reach $151.65 billion by 2021, growing at a CAGR of 16.0% between 2017 and 2021. The overall growth in the biomaterials market is fuelled by a number of factors such as the superior properties of biomaterials, increasing funds/aids by government for research purposes, increasing wound healing therapies & plastic surgeries, increasing aging/geriatric population, rise in prevalence of cardiovascular diseases, increasing awareness of regenerative medicine, increasing orthopaedic disorders, and growing demand for implantable devices.
Biomaterials find major use in a variety of applications in healthcare and medical industry verticals including cardiovascular, orthopedics, ophthalmology, wound healing, plastic surgery, tissue engineering, and neurological/central nervous system, among other application fields. The demand for biomaterials is on a continuous rise and is expected to grow in the next five years because of the growing aging population, rise in diabetic population, orthopaedic and cardiovascular diseases and increasing obesity, use of biomaterials for cancer treatment, and stringent regulations and standards initiated and mandated by the government of various countries.
Many applications such cardiovascular, orthopedic, ophthalmology, central nervous system/neurological, dental, tissue engineering, wound healing, plastic surgery, and others, have widely adopted biomaterials due to its bio functionality and biocompatibility with the body. End-use industries have increased their investment in research and development of the biomaterials thereby driving the demand from emerging economies such as China, Brazil, and India. Additionally, patient awareness and improved lifestyle in emerging economies and the introduction of biomaterials in cancer research are expected to create a pool of opportunities in the global biomaterials market.
According to Saloni Aggarwal, an analyst at BIS Research, "metal based biomaterials dominated the global biomaterials market with the market share of approximately 24% in 2016, registering the CAGR of 14.5% between 2017 and 2021. The metallic biomaterials and their alloys are used majorly in load-bearing applications for which the desired properties are high strength, stiffness, corrosion resistance, fatigue strength, easy sterilization, shape memory, and biocompatibility, among others. For similar reasons, metals are the most widely used biomaterials for load-bearing implants and orthopedic surgeries involving metallic implants.
"Cardiovascular applications dominated the global biomaterials market with a market share of approximately 35% in 2016, registering the CAGR of 15.9% between 2017 and 2021', quotes Nikita Kheterpal, another analyst at BIS research. The American Heart Association stated that cardiovascular disease death rates account for approximately 801,000 deaths in the U.S. Approximately 2,200 Americans die of cardiovascular disease each day, i.e., an average of 1 death every 40 seconds. This increase in death ratio in North America is expected to drive the demand of biomaterials based cardiovascular systems.
This market report provides a thorough analysis of the recent trends influencing the global biomaterials market, along with a comprehensive study of the future trends and developments. The report is a compilation of various segmentations of the market, including a market breakdown by biomaterials type, application, and different geographical regions. It also includes a separate segment on competitive insights and market insights, wherein, the revenue generated from biomaterials is tracked to calculate the market size.
Some of the key players in the biomaterials market are BASF, BBS, Berkley Advanced Biomaterial Inc., Bioretec Ltd., CAM Bioceramics, Carpenter Technology Corporation, Celanese Corp., Collagen Solutions, Corbion, Covestro, Royal DSM, Evonik Industries, Invibio, Straumann, and Zimmer Biomet. These companies provide a broad product portfolio for specific needs and industrial applications.
This report is a meticulous compilation of research on more than 150 players in the biomaterials ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 50 leading companies, market participants and vendors. The report also profiles around 15 companies among which are BASF, BBS, Berkley Advanced Biomaterial Inc., Bioretec Ltd., CAM Bioceramics, Carpenter Technology Corporation, and Cleanse Corporation, among others.
Key questions answered in the report:
What is the market size in terms of revenue from 2017-2021 for the global biomaterials market?
What is the market size in terms of revenue for type such as polymer, metal, ceramic, natural, inorganic glass, regenerative, radiopaque, and hybrid biomaterial combinations in the global biomaterials market?
What is the revenue generated by the different applications in the biomaterials market?
What is the market size in terms of revenue for application such as cardiovascular, orthopedic, ophthalmology, central nervous system/neurological, dental, tissue engineering, wound healing, plastic surgery, and others?
Which type and application of the biomaterials will dominate the biomaterials market during the forecast period?
What is the market size in terms of revenue generated by different application with respect to geographical regions in the global biomaterials market?
What are the major factors which are driving the biomaterials market forward during the forecast period?
What are the major opportunities and factors challenging the growth of the global biomaterials market?
What are the new strategies adopted by the existing market players to make a mark in the industry?
Which are the existing key market players that have made a mark in the biomaterials market?
BIS Research is a global market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on various technology verticals such as 3D printing, advanced materials & chemicals, aerospace and defense, automotive, healthcare, electronics & semiconductors, robotics & UAV and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for the senior management.
Contact: Bhavya Banga Email: [email protected] BIS Research™ 9100 West Bloomington Freeway, Suite 159, Bloomington, MN 55431