The global biomaterials market size is expected to reach USD 348.4 billion by 2027, registering a CAGR of 15.9% over the forecast period, according to a new report by Radiant Insights, Inc. The application of biomaterials represents a fast-growing field in biomedical research. Recent advances in the improvement of bioactivity, compatibility, and mechanical properties of biomaterials have introduced new opportunities for their application in tissue engineering, immune engineering, and drug delivery systems.
Biocompatibility, low toxicity, and renewable nature of polymeric biomaterials make them potent drug delivery agents in controlled and targeted drug delivery, thus providing lucrative opportunities for the market growth. The advent of improved drug delivery approaches, such as PEG-coated liposomes, biopolymer-coated liposomes, and nanomaterials drug delivery, further expands the prospects of these biopolymers in the pharmaceutical and medical industries.
Use of biomaterials has greatly benefited the regeneration of the cardiopulmonary system. These materials provide physical support and physiological and chemical cues to seeded cells to assist the tissue regeneration process. Integration of biomaterials with nanotechnology techniques also stimulates the regeneration of damaged cardiomyocyte’s extracellular matrix, thus replacing the traditional organ transplantation procedures.
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Further key findings from the report suggest:
• 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
• 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
• North America is expected to dominate the biomaterials 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 November 2019, Evonik partnered with BellaSeno GmbH for development and commercialization of 3D printed breast implant by using Evonik’s RESOMER bioresorbable polymer.
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Table of Contents
Chapter 1 Research Methodology & Scope
1.1 Information Procurement
1.2 Information or Data Analysis
1.3 Market Formulation & Validation
Chapter 2 Executive Summary
2.1 Biomaterials Market Outlook
2.2 Biomaterials Market: Segment Outlook
2.3 Biomaterials Market: Competitive Insights
Chapter 3 Biomaterials Market Variables, Trends & Scope
3.1 Penetration & Growth Prospect Mapping For Product, 2019
3.2 Biomaterials Market: Regulatory Framework
3.3 Biomaterials Market: Technology Overview
3.4 Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Rising demand as a consequence of accidental injuries & chronic conditions
3.4.1.2 Advances in biomaterials technologies
3.4.1.3 Expansion in the usage scope of biomaterials
3.4.2 Market restraint analysis
3.4.2.1 High expense associated with the development of biomaterials
3.4.2.2 Problems related to biocompatibility of biomaterials
3.5 Biomaterials Market - SWOT Analysis, By Factor (Political & Legal, Economic And Technological)
3.6 Industry Analysis - Porter’s
3.7 Major Deals & Strategic Alliances Analysis
3.7.1 Product developments
3.7.2 Merger & acquisition
3.7.3 Collaboration & partnership
3.7.4 Agreement
Continued…
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