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Biocompatible Materials Global Market Overview 2021-2023 And Forecasts 2024-2030
(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 04, 2024 (GLOBE NEWSWIRE) -- The "Biocompatible Materials - A Global Market Overview" report has been added to ResearchAndMarkets.com's offering.
The global market for Biocompatible Materials will likely maintain a robust CAGR of 11.2% during the 2024-2030 analysis period and reach a projected US$444.3 million by 2030 from an estimated US$235.4 million in 2024.
Several factors are instrumental in guiding the global Biocompatible Materials market towards a healthy growth over the analysis period, the most important ones of which comprise close mimicking of natural tissues & structures, enhancement in drug delivery & tissue integration with novel nanostructured biocompatible materials, increasing demand for regenerative medicine & personalized medicine, growing incidence of chronic diseases, increasing dental issues and the use of 3D and 4D printing technologies.
Although North America and Europe together account for the major share of the global Biocompatible Materials market, Asia-Pacific is slated to be the fastest growing market for the same, with a projected CAGR of over 14% during 2024-2030. Major factors for this include greater awareness about the positive outcomes of using Biocompatible Materials, rise in disposable incomes & increased affordability and a larger number of individuals opting for minimally invasive surgical procedures.
Biocompatible Materials Market Analysis by Type
The major types of Biocompatible Materials utilized include Polymers (Natural & Synthetic), Ceramics, Metals and Composites. Polymers are expected to corner the largest share of the global demand for Biocompatible Materials and also register the fastest growth over the 2024-2030 analysis period.
The global market for Biocompatible Materials will likely maintain a robust CAGR of 11.2% during the 2024-2030 analysis period and reach a projected US$444.3 million by 2030 from an estimated US$235.4 million in 2024.
Several factors are instrumental in guiding the global Biocompatible Materials market towards a healthy growth over the analysis period, the most important ones of which comprise close mimicking of natural tissues & structures, enhancement in drug delivery & tissue integration with novel nanostructured biocompatible materials, increasing demand for regenerative medicine & personalized medicine, growing incidence of chronic diseases, increasing dental issues and the use of 3D and 4D printing technologies.
Although North America and Europe together account for the major share of the global Biocompatible Materials market, Asia-Pacific is slated to be the fastest growing market for the same, with a projected CAGR of over 14% during 2024-2030. Major factors for this include greater awareness about the positive outcomes of using Biocompatible Materials, rise in disposable incomes & increased affordability and a larger number of individuals opting for minimally invasive surgical procedures.
Biocompatible Materials Market Analysis by Type
The major types of Biocompatible Materials utilized include Polymers (Natural & Synthetic), Ceramics, Metals and Composites. Polymers are expected to corner the largest share of the global demand for Biocompatible Materials and also register the fastest growth over the 2024-2030 analysis period.
The development and use of medical-grade synthetic polymers that mimic natural substances have been major factors driving demand for these materials. Metallic biomaterials include biocompatible metal alloys, such as titanium and stainless steel, which find application in orthopedic implants and dental prosthetics. The need for bio-ceramics has also been growing, since they offer a unique combination of properties that allow their widespread use in a range of medical and healthcare applications.
Biocompatible Materials Market Analysis by Application Area
In terms of application, Biocompatible Materials are chiefly used in Cardiovascular Devices, Dental Implants, Drug Delivery Systems, Electromedical Equipment, Hearing Aids, Ophthalmic Products, Orthopedic Implants, Prosthetics and Soft Tissue Implants. Orthopedic Implants lead the worldwide market with regard to size, the demand for which is also poised to post the fastest CAGR during the analysis period.
Biocompatible Materials Report Scope
This global report on Biocompatible Materials analyzes the market based on type and application area. In addition to providing profiles of major companies operating in this space, the latest corporate and industrial developments have been covered to offer a clear panorama of how and where the market is progressing.
Key Metrics
- Historical Period: 2021-2023 Base Year: 2023 Forecast Period: 2024-2030 Units: Value market in US$ Companies Mentioned: 25+
Key Global Players
- 3D Composites Abbott Laboratories AdvanSource ASM International Ashland, Inc. Aspect Biosystems Ltd B. Braun Melsungen AG BASF SE Baxter International, Inc. Biomaterial LLC Biomaterials Corp Celanese Corp Covestro AG DuPont Electro-Optical Systems (EOS) GmbH Ensinger EnvisionTEC, Inc. Evonik Industries AG Formlabs, Inc. Foster Corp Henkel AG & Co Johnson & Johnson Medtronic Merck KGaA Renishaw PLC Royal DSM NV Sanofi SA Shin-Etsu Chemical Co Ltd Stratasys Ltd Stryker Corp Wacker Chemie AG
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Biocompatible Materials Market
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