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Biomaterials Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Biomaterials Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The biomaterials market size is expected to see rapid growth in the next few years. It will grow to $230 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.” - The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, October 21, 2024 /EINPresswire / -- The biomaterials market is projected to grow from $118.51 billion in 2023 to $136.08 billion in 2024, with a compound annual growth rate (CAGR) of 14.8%. This growth during the historical period can be attributed to the expanding aging population, the adoption of biomaterials in orthopedic and dental applications, rising awareness of environmental sustainability, an increase in chronic conditions, and heightened demand for medical implants.
What Is The Estimated Market Size Of The Global Biomaterials Market And Its Annual Growth Rate?
The biomaterials market is expected to reach $230 billion by 2028, with a compound annual growth rate (CAGR) of 14.0%. The anticipated growth during the forecast period can be attributed to changing consumer preferences, a surge in demand for biomaterials in 3D printing and additive manufacturing, the expansion of the biodegradable and bioresorbable biomaterials segment, the adoption of biomaterials in drug delivery systems for personalized medicine, and the increasing use of biomaterials in wound care and tissue regeneration.
Explore Comprehensive Insights Into The Global Biomaterials Market With A Detailed Sample Report:
Growth Driver Of The Biomaterials Market
The increasing prevalence of cardiovascular diseases is fueling the growth of the biomaterials market. Cardiovascular disorders are often caused by factors such as high blood pressure, smoking, high cholesterol, and physical inactivity. The rise in these conditions is primarily linked to non-communicable diseases like diabetes, chronic respiratory illnesses, coronary artery disease (CAD), and heart attacks resulting from hypertension. Biomaterials, including heart valves, cardiopulmonary bypass systems, stents, vascular grafts, complete artificial hearts, and pacemakers, are employed as therapeutic solutions for damaged and diseased heart tissue.
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Who Are the Leading Competitors in the Biomaterials Market Share?
Key players in the market include Carpenter Technology Corporation, Corbion N V, Evonik Industries AG, Heraeus Medical Components LLC, Berkeley Advanced Biomaterials Inc., Zimmer Biomet Holdings Inc., DSM Biomedical BV, PolyNovo Limited, Baxter International Inc., Stryker Corporation, Collagen Solutions plc, Invibio Ltd., Aap Implantate AG, Cam Bioceramics BV, CeramTec GmbH, CoorsTek Medical LLC, CryoLife Inc., Cerapedics Inc., Surmodics Inc., Secant Group LLC, GELITA AG, Quattroflow GmbH, Kyocera Corporation, Wright Medical Group NV, KLS Martin Group GmbH & Co KG, Meccellis Biotechnology Co Ltd., Bio-on SpA, Coloplast A/S, Collagen Matrix Inc., IntrinsiQ Materials Inc., PolyActiva Pty Ltd.
Which Key Trends Are Driving Biomaterials Market Growth?
Leading companies in the biomaterials market are emphasizing technological advancements, such as the Designed Enzymatic Biomaterials (DEB) technology platform, to provide sustainable biopolymers and enhance their competitive edge. The DEB technology platform utilizes enzymes to design and modify materials for diverse applications, including drug delivery, tissue engineering, and diagnostics.
How Is The Global Biomaterials Market Segmented?
1) By Type: Metallic Biomaterial, Polymeric Biomaterials, Natural Biomaterials, Ceramics
2) By Application: Cardiovascular, Orthopedic, Ophthalmology, Dental, Plastic Surgery, Wound Healing, Tissue Engineering, Neurological/Central Nervous System
3) By End Use: Hospitals And Clinics, Ambulatory Surgical Centers, Other End Users
Geographical Insights: North America Leading The Biomaterials Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Biomaterials Market Definition
Biomaterials refer to man-made substances that can be used to support tissues or structures within the body. These materials, whether natural or synthetic, are utilized in medical applications to support, enhance, or replace damaged tissue or biological functions.
Biomaterials Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global biomaterials market report covering trends, opportunities, strategies, and more
The Biomaterials Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on biomaterials market size, biomaterials market drivers and trends, biomaterials market major players and biomaterials market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
Browse Through More Similar Reports By The Business Research Company:
Orthopedic Biomaterials Global Market Report 2024
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What Does The Business Research Company Do?
The Business Research Company publishes over 15,000 reports across 27 industries and 60+ geographies. Our research is powered by 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. We provide continuous and custom research services, offering a range of specialized packages tailored to your needs, including Market Entry Research Package, Competitor Tracking Package, Supplier & Distributor Package, and much more.
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Oliver Guirdham
The Business Research Company
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