Biomaterials Market Size Worth $488.7 Billion by 2030 at CAGR of 15.4%: Grand View Research, Inc.

SAN FRANCISCO, June 1, 2022 /PRNewswire/ -- The global biomaterials market size is expected to reach USD 488.7 billion by 2030, registering a CAGR of 15.4% over the forecast period, according to a new report by Grand View Research, 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.

Key Insights & Findings from the report:

• 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 corona virus, 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.

Get more Latest Industry Insights from 190 page market research report, "Biomaterials Market Size, Share & Trends Analysis Report By Product (Natural, Metallic, Polymer), By Application (Cardiovascular, Orthopedics, Plastic Surgery), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Biomaterials Market Growth & Trends

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 cardiomyocytes' extracellular matrix, thus replacing the traditional organ transplantation procedures.

Biomaterials Market Segmentation

Grand View Research has segmented the global biomaterials market on the basis of product, application, and region:

Biomaterials Market - Product Outlook (Revenue, USD Million, 2018 - 2030)

• Metallic
• Natural
• Ceramics
• Polymers

Biomaterials Market - Application Outlook (Revenue, USD Million, 2018 - 2030)

• 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 Biomaterial
• 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

Biomaterials Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Mexico
• Middle East and Africa (MEA)
• South Africa

List of Key Players of Biomaterials Market

• 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.

Check out more related studies published by Grand View Research:

• Biobanks Market - The global biobanks market size is expected to reach USD 100.8 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 4.6% during the forecast period. Biobanks continue to evolve with the introduction of new technologies, such as NGS, and increased focus on genomic medicine. The availability of several types of biospecimens to cater to multiple domains including drug discovery, diagnostics, and others has accelerated the diversification of biorepositories, thereby driving the market. The quality of biospecimens can significantly influence disease testing as well as preclinical and clinical research. Regulatory agencies have played a vital role in spurring the adoption of biobanking services by establishing guidelines for the effective management of samples.
• White Biotechnology Market - The global white biotechnology market size is expected to reach USD 487.08 billion by 2024, at a CAGR of 18.2% according to a new report by Grand View Research, Inc. Rising awareness and emphasis for the adoption of greener and environment-friendly technologies in various end-use industries is expected to drive the market over the next eight years.
• Bioinformatics Services Market - Global bioinformatics services market is anticipated to reach USD 4.1 billion by 2024, according to a new report by Grand View Research, Inc. Growing adoption of I.T. solutions for different studies such as cell signalling, pathway metabolism, gene-receptor interactions, and target differentiation are expected to support growth in this market over the forecast period.

Browse through Grand View Research's  Biotechnology Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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