Dublin, April 09, 2024 (GLOBE NEWSWIRE) -- The "Global Polymeric Biomaterials Market" report has been added to ResearchAndMarkets.com's offering.
The global polymeric biomaterials market accounted for USD 51.18 billion in 2023 and is expected to reach at USD 276.15 billion by 2034 with a CAGR of 16.56% during the forecast period 2024-2034. The growing prevalence of chronic diseases, the demand for minimally invasive surgeries, technological innovations and advancements, the growing emphasis on tissue engineering, and the rise in strategic alliances and collaborations will all contribute to the market's expansion. 
New materials with better qualities are being created as a result of ongoing biomaterials research and development. Enhanced mechanical strength, regulated medication release, and enhanced biodegradability are some of these developments in biocompatible materials. These developments are driving market expansion by broadening the applications of polymeric biomaterials.
By product, the polylactic acid (PLA) segment accounted for the highest revenue-grossing segment in the global polymeric biomaterials market in 2023 owing to the increasing demand for biodegradable and sustainable materials in various medical and non-medical applications, coupled with PLA's excellent biocompatibility, mechanical properties, and versatility. For instance, Stryker Corporation introduced its new TriathlonTM implant system, which uses cutting-edge biocompatible materials, for complete knee arthroplasty in February 2024. Additionally, the polytetrafluoroethylene (PTFE) and expanded polytetrafluoroethylene (ePTFE) segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand for durable and non-reactive materials in medical and industrial applications, along with PTFE and ePTFE's unique properties such as chemical resistance, low friction, and biocompatibility.
By application, the orthopedic segment accounted for the highest revenue-grossing segment in the global polymeric biomaterials market in 2023 owing to the increasing prevalence of orthopedic disorders and surgeries, coupled with the rising adoption of polymeric biomaterials for orthopedic implants due to their biocompatibility, mechanical strength, and ability to support bone regeneration. For instance, NuVasive, Inc. introduced their next generation of spinal implant systems with enhanced biocompatible materials in December 2023. Additionally, the plastic surgery segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing aesthetic consciousness, advancements in plastic surgery techniques, and increasing demand for polymeric biomaterials in procedures such as breast augmentation, facial rejuvenation, and body contouring.
By end-user, the hospitals & clinics segment accounted for the highest revenue-grossing segment in the global polymeric biomaterials market in 2023 owing to the increased adoption of polymeric biomaterials for medical devices, implants, and drug delivery systems in clinical settings, driven by the rising number of surgeries, advancements in healthcare infrastructure, and growing patient preference for minimally invasive procedures.
Additionally, the cosmetic surgery centers segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for cosmetic procedures worldwide, fueled by factors such as increasing disposable income, changing beauty standards, advancements in cosmetic surgery techniques, and growing awareness about non-invasive and minimally invasive procedures.
North America is anticipated to have the highest revenue share during the forecast period owing to the dominance of advanced healthcare infrastructure, high healthcare spending, extensive R&D activities, favorable regulatory environment, and increasing prevalence of chronic diseases driving the demand for polymeric biomaterials in medical applications.
Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding healthcare infrastructure, increasing investments in medical research and development, rising disposable income, growing geriatric population, and rising prevalence of chronic diseases driving the adoption of polymeric biomaterials in medical applications across the region.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
Study Coverage
- Market Forecast by Product, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Company Profiles of the Top 10+ Major Market Players
- BASF
- DowDuPont
- Evonik Industries
- LyondellBasell
- Merck
- Medtronic
- Johnson & Johnson
- Stryker
- Zimmer Biomet
- B. Braun Melsungen
- NuVasive
- Orthofix International
- Osteotech Holding
- Smith & Nephew
- Integra LifeSciences
Segmentation: Polymeric Biomaterials Market Report 2023 - 2034
Polymeric Biomaterials Market Analysis & Forecast by Product
- Polylactic Acid (PLA)
- Polyglycolic Acid (PGA)
- Polyurethanes
- Polytetrafluoroethylene (PTFE) and Expanded Polytetrafluoroethylene (ePTFE)
- Polyaryletheretherketone (PEEK)
- Polydioxanone (PDO)
- Others
Polymeric Biomaterials Market Analysis & Forecast by Application
- Cardiovascular
- Dental
- Orthopedic
- Plastic Surgery
- Neurology
- Others
Polymeric Biomaterials Market Analysis & Forecast by End-User
- Hospitals & Clinics
- Research Institutes & Academic Centers
- Pharmaceutical & Biotechnology Companies
- Cosmetic Surgery Centers
- Others
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $51.18 Billion |
| Forecasted Market Value (USD) by 2034 | $276.15 Billion |
| Compound Annual Growth Rate | 16.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Research Methodology
2. Introduction
2.1. Market Definition
2.2. Global Polymeric Biomaterials Market Overview
3. Executive Summary
4. Market Environment Analysis
4.1. Porter's 5 Forces Analysis
4.2. PESTEL Analysis
4.3. SWOT Analysis
5. Market Dynamics
6. COVID-19 Impact Analysis
7. Polymeric Biomaterials Market: Product Estimates & Trend Analysis
7.1. Product Segment Opportunity Analysis
7.2. Polylactic Acid (PLA)
7.3. Polyglycolic Acid (PGA)
7.4. Polyurethanes
7.5. Polytetrafluoroethylene (PTFE) and Expanded Polytetrafluoroethylene (ePTFE)
7.6. Polyaryletheretherketone (PEEK)
7.7. Polydioxanone (PDO)
7.8. Others
8. Polymeric Biomaterials Market: Application Estimates & Trend Analysis
8.1. Application Segment Opportunity Analysis
8.2. Cardiovascular
8.3. Dental
8.4. Orthopedic
8.5. Plastic Surgery
8.6. Neurology
8.7. Others
9. Polymeric Biomaterials Market: End-User Estimates & Trend Analysis
9.1. End-User Segment Opportunity Analysis
9.2. Hospitals & Clinics
9.3. Research Institutes & Academic Centers
9.4. Pharmaceutical & Biotechnology Companies
9.5. Cosmetic Surgery Centers
9.6. Others
10. Regional Market Analysis
11. North America Polymeric Biomaterials Market
12. Europe Polymeric Biomaterials Market
13. Asia Pacific Polymeric Biomaterials Market
14. Latin America Polymeric Biomaterials Market
15. MEA Polymeric Biomaterials Market
16. Competitor Analysis
16.1. Company Market Share Analysis, 2023
16.2. Major Recent Developments
17. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/eo6wml
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