Dublin, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The "Biomaterials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global biomaterials market is experiencing significant growth, with a size of US$ 102.8 billion in 2022 and expected to reach US$ 202.7 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 11.43% during 2023-2028. Biomaterials are materials that interact with biological systems and are used in various medical applications, including neurology, cardiology, orthopedics, wound care, dentistry, and plastic surgery.
Key Market Trends:
- Musculoskeletal Conditions: The increasing prevalence of musculoskeletal conditions, coupled with a growing geriatric population, is driving market growth. Biomaterials are used in medical implants, such as heart valves, stents, artificial joints, and dental implants, addressing various health needs.
- Advanced Technologies: Advancements in molecular self-assembly, polymer synthesis, and microfabrication technologies have led to next-generation smart biomaterials. These biomaterials can adapt to physiological changes and stimuli, enhancing their applications.
- Product Innovations: Market players are focusing on product innovations to offer better services. This includes the development of biomaterials for cardiac repair and regeneration, drug delivery, and extracellular matrix substitutes.
- Cardiovascular Diseases: The rising prevalence of cardiovascular diseases is contributing to the demand for biomaterials, especially in the field of cardiology.
- Awareness and Advantages: Increasing awareness among the public about the advantages of biomaterials is boosting market growth.
Key Market Segments:
The market is segmented based on type, application, and region:
By Type:
- Natural Biomaterial
- Metallic Biomaterial
- Ceramic Biomaterial
- Polymeric Biomaterial
By Application:
- Neurology
- Cardiology
- Orthopedics
- Wound Care
- Dental
- Plastic Surgery
- Others
By Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
Key players in the global biomaterials market include BASF SE, Berkeley Advanced Biomaterials, Carpenter Technology Corporation, Collagen Matrix Inc., CoorsTek Inc., Corbion N.V., Dentsply Sirona, Evonik Industries AG, Johnson & Johnson, Koninklijke DSM N.V., Medtronic plc, Stryker Corporation, Victrex plc, and Zimmer Biomet.
Key Questions Answered:
- What was the size of the global biomaterials market in 2022?
- What is the expected growth rate during 2023-2028?
- What are the key growth drivers of the biomaterials market?
- How has COVID-19 impacted the market?
- What are the types of biomaterials and their applications?
- Which regions are key in the global biomaterials market?
- Who are the key players in the market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $102.8 Billion |
| Forecasted Market Value (USD) by 2028 | $202.7 Billion |
| Compound Annual Growth Rate | 12.0% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/sabdrp
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