Biomaterials Market on Hit USD 488.9 BN, Globally, by 2030 at 15.8% CAGR

According to Nova one advisor, the global Biomaterials market size is expected to hit around USD 488.9 billion by 2030 from valued at USD 135.8 billion in 2021 and growing at a CAGR of 15.8% from 2022 to 2030.

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Key Takeaways:

• High availability of natural and synthetic degradable polymers and their wide usage as surgical sutures and implants resulted in the largest revenue share of the polymers product segment
• Natural products have gained immense popularity as a source of novel bioactive substance for the development of novel drugs, leading to fastest growth of this segment
• Increasing incidence of chronic skeletal and musculoskeletal conditions is expected to raise the demand for biomaterials for orthopedics application at a large scale
• The infection from coronavirus, that is, SARS-COV-2 can be detected using existing biomedical devices which are based on either Polymerase Chain Reaction (PCR) or Non-PCR methods
• Improvement in the surface modification of silicone breast implants to prevent capsular contracture is one of the factors driving the biomaterial usage in the plastic surgery segment at the fastest rate
• Biosensor, is an analytical device that is used to detect analytes such as biomolecules or biological elements of species produced by micro-organisms, that is tissues, enzymes, and organelles
• North America is expected to dominate the market in terms of revenue share owing to the presence of public and private agencies promoting biomaterial usage by hosting events and funding initiatives
• Asia Pacific is anticipated to grow at a rapid pace owing to the presence of several local manufacturers developing low-cost biomaterial products, mainly in China
• Prominent players operating in the market include Medtronic, Evonik, DSM, BASF, Berkeley Advanced Biomaterials, Covalon Technologies, and Zimmer Biomet Holdings
• Companies are engaged in several strategic growth initiatives, such as novel product developments, partnerships, and regional expansion to reinforce their market presence
• For instance, in March 2022, Medtronic announced a collaboration with Vizient to add Touch Surgery Enterprise to Vizient's portfolio, which is an AI-powered video management and analytical platform that provides surgical teams with simple access to procedural recordings and insights

Report Scope of the Biomaterials Market

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The rising prevalence of musculoskeletal and chronic skeletal medical conditions is expected to boost the demand for biomaterial-based implants, thereby augmenting the market growth. The demand for orthopedic implants is also rising owing to the increasing geriatric population, at an increased risk of osteoarthritis, osteoporosis, and other musculoskeletal disorders. The development of various biomaterial and biomedical devices is in demand for detecting and treating coronavirus. In this pandemic, early detection of the virus is very crucial to limit the transmission of the same. The infection from the COVID-19 can be detected using existing biomedical devices which are based on either Polymerase Chain Reaction (PCR) or Non-PCR methods.

Biomaterial Technologies contribute to the development of new efficient personal protective equipment, drug deliveries, vaccines, and new therapeutics which are used to prevent or treat the infection from SARS-COV-2. Furthermore, cell-cultured models and engineered tissues had a major impact on investigating the infection, testing, and developing vaccines and therapeutics. Thus, the market resulted in varied designs of a range of diagnosis and therapeutic tools for the management of COVID-19, which includes rapid and accurate diagnostic platforms, novel vaccines, effective anti-viral drugs, and efficient models of laboratories for accessing the disease. Technological advancements have made biomaterials more versatile and have increased their utility in various fields of healthcare, such as bioengineering and tissue engineering.

The advent of smart biomaterials that interact with biological systems for several biomedical applications, ranging from the transport of bioactive molecules to the cellular functioning of the engineered functional tissues, drives revenue generation in this market. Companies are embracing the ongoing developments in novel drug delivery approaches for the controlled release of drugs, thus fueling market growth. For instance, in January 2019, DSM Biomedical partnered with ProMed Pharma to leverage its biomedical biomaterials with ProMed’s micro molding and extrusion capabilities to create novel controlled-release drug implants and combination devices.

The porous-coated and fully or partially porous orthopedic implants have gained immense popularity in recent years. This is because the porous structures reduce the elastic modulus and stimulate bone growth around the implant. Powder metallurgy, 3-D printing, and additive manufacturing are some of the potential techniques to manufacture porous metallic and ceramic implants. Growing demand for smart biomaterials that produce and transfer bioelectric signals similar to native tissues for accurate physiological functions, is expected to surge the market growth. Piezoelectric scaffolds are smart materials that play a significant role in tissue engineering. They stimulate the signaling pathways and consequently improve tissue regeneration at the impaired site. 

Regional Insights 

North America dominated the market and accounted for the largest revenue share of 38.9% in 2021 owing to the initiatives undertaken by various public and private organizations. These include the National Science Foundation and the National Institute of Standards and Technology, which provide knowledge and assistance pertaining to biomaterials usage in biomedical applications. This has resulted in the expansion of biomaterials adoption in this region. Moreover, factors such as favorable government policies and the presence of several major market players in this region have contributed to the regional market share.

In Asia Pacific, the market is expected to register the highest CAGR over the forecast period, owing to strategic initiatives adopted by the regional participants to reinforce their presence in local as well as global markets. For instance, in November 2019, a Japan-based company, Mitsubishi Chemical signed an agreement with U.S.-based AdvanSource Biomaterials to acquire their thermoplastic polyurethane elastomer business. This acquisition is expected to help the company expand its business footprint globally and capture a significant share in the international market. In India, the biomaterials market is constantly booming. The Indian biomaterials industry is dominated by orthopedic, dental, and cardiovascular biomaterials. Increasing market shares of cardiovascular and orthopedic and biomaterial products are due to an increase in orthopedic surgery, cardiovascular surgeries, and dental procedures.

Some of the prominent players in the Biomaterials Market include:

• Medtronic plc
• Evonik Industries AG
• Carpenter Technology Corporation
• Berkeley Advanced Biomaterials
• Invibio Ltd.
• Zimmer Biomet Holdings, Inc.
• BASF SE
• Covalon Technologies Ltd.
• Stryker
• Johnson & Johnson
• Dentsply Sirona
• CoorsTek Inc.
• Corbion
• Collagen Matrix, Inc. 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Biomaterials market

• Product
  • Metallic
  • Natural
  • Ceramics
  • Polymers 
• Application
  • Cardiovascular
    • Sensors
    • Stents
    • Guidewires
    • Implantable Cardiac Defibrillators
    • Pacemakers
    • Vascular Grafts
    • Others
  • Ophthalmology
    • Synthetic Corneas
    • Intraocular Lens
    • Contact Lens
    • Ocular Tissue Replacement
    • Others
  • Dental
    • Tissue Regeneration Materials
    • Dental Implants
    • Bone Grafts & Substitutes
    • Dental Membranes
    • Others
  • Orthopedic
    • Joint Replacement Biomaterials
    • Orthobiologics
    • Bioresorbable Tissue Fixation Products
    • Viscosupplementation
    • Spine Biomaterials
    • Others
  • Wound Healing
    • Fracture Healing Device
    • Adhesion Barrier
    • Skin Substitutes
    • Internal Tissue Sealant
    • Surgical Hemostats
    • Others
  • Tissue Engineering
  • Plastic Surgery
    • Facial Wrinkle Treatment
    • Soft Tissue Fillers
    • Craniofacial Surgery
    • Bioengineered Skins
    • Peripheral Nerve Repair
    • Acellular Dermal Matrices
    • Others
  • Neurology
    • Neural Stem Cell Encapsulation
    • Shunting Systems
    • Hydrogel Scaffold For CNS Repair
    • Cortical Neural Prosthetics
    • Others
  • Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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