Biomaterials Market to Reach 128.7
Billion USD by 2023
Meticulous Research® – leading global
market research company published a research report titled “Biomaterials Market
by Material Type [(Metal (Alloy, Pure Metal), Ceramic (Inert, Bioresorbable),
Polymer, Natural Materials, Composites)], and Application (Heart Disease,
Orthopedic, Ophthalmic, Dental Application, Neurostimulator)- Global Forecast
to 2023”
According to this latest publication from
Meticulous Research®, the global biomaterials
market will grow at a CAGR of 8.8% from 2018 to 2023 to reach USD
128.7 billion by 2023, driven by increasing incidence of chronic conditions
with rising geriatric population, increasing demand for implantable medical
devices, rising number of hip and knee replacements, significantly growing
number of cosmetic & reconstructive plastic surgery procedures, and various
technological advancements in this field. Moreover, factors such as growing
healthcare market in emerging economies, increasing number of free trade
agreement, and rising investments in the R&D for development of new
biomaterials further provides major opportunities in the global biomaterials
market.
For more info, please download sample report:
The global biomaterials market study presents
historical market data in terms of value (2016 and 2017), estimated current
data (2018) and forecasts for 2023 by type of material (metals & alloys,
ceramics, polymers, composite materials, and natural materials), and
application (cardiovascular, orthopedic, ophthalmology, dental,
neurostimulators, and other applications). The study also evaluates industry
competitors and analyzes the market at regional and country level.
Browse in-depth Report on -
Based on type of materials, metals &
alloys held the largest share of global biomaterials market in 2017 and expected
to continue its dominance during the forecast period owing to the wide adoption
of metallic biomaterials in orthopedic implants due to their strength and
resistance to fatigue degradation to provide strong and durable support &
replacement to the damaged bones. In addition, they are also commonly used in
dental, cardiovascular, and neuromuscular stimulation devices due to their good
strength and electrical conductivity. However, composite biomaterials are the
emerging and rapidly growing biomaterials owing to their rising adoption in
various applications to optimize the level of mechanical, biological or
chemical characteristics of various basic biomaterials in the bioimplants.
On the basis of application, cardiovascular
disease area accounted for the major share in the global biomaterials market in
2017. This was mainly attributed to the rising adoption of implantable medical
devices like pacemaker, defibrillators, valves, heart monitors, and stents, and
others for the prevention of sudden cardiac deaths (SCD) in patients at high
risk for SCD with increasing incidence of cardiac arrest, atrial fibrillation,
and atherosclerosis; increasing burden of high blood pressure; and congenital
heart defects. However, other applications including plastic surgery, wound
healing, tissue engineering, urinary applications, and gastrointestinal
application are expected to grow at the fastest CAGRs than other matured
application areas during the forecast period.
Based on geography, North America accounted
for the major share of the global biomaterials market in 2017, followed by
Europe, and Asia-Pacific. The major share of the North American region is
mainly attributed to the matured healthcare market with higher healthcare
expenditure, higher penetration & adoption of implantable medical devices
and advanced surgical instruments, cordial reimbursement policies, and presence
of large pool of patients with various chronic and non-communicable diseases.
However, Asia-Pacific region offers lucrative growth potential for the biomaterials
market during the forecast period owing to the increasing base of population
with various chronic diseases, increasing awareness towards implantable devices
coupled with rising healthcare expenditure, and increasing research and
development activities in biomedical and translational field.
For more info, please download sample
report:
The key players in the global biomaterials
market are Koninklijke DSM N.V., Corbion N.V., EPTAM Plastics, Ltd., DiSanto
Technology, Inc., CoorsTek Medical LLC, Carpenter Technology Corporation, Zapp
AG, United Titanium, Inc., CAM Bioceramics B.V., Celanese Corporation, Victrex
Plc, Wright Medical Group N.V., BASF SE, Evonik Industries AG, and Zimmer
Biomet Holdings, Inc. among others.
About
Meticulous Research®
Meticulous Research® is founded in 2010 and
incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private
limited company under the Companies Act, 1956. Since its incorporation, the
company has become the leading provider of premium market intelligence in North
America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
With the meticulous primary and secondary
research techniques, we have built strong capabilities in data collection,
interpretation, and analysis of data including qualitative and quantitative
research with the finest team of analysts. We design our meticulously analyzed
intelligent and value-driven syndicate market research reports, custom studies,
quick turnaround research, and consulting solutions to address business
challenges of sustainable growth. Meticulous Research® produces global reports
and custom studies for North America, Europe, Latin America, Asia¬-Pacific, and
Middle East and Africa regions. These reports are used by our clients for
marketing and strategic planning in various sectors.
Contact
Us:
Viren Shrivastava
Meticulous
Research
Contact: +1-646-781-8004
Office No-402, 4th Floor,
Pushpak Business Hub, Wakad,
Pune . 411057 India
Email: viren@meticulousresearch.com
No comments:
Post a Comment