Dallas, Texas, Feb. 04, 2020 (GLOBE NEWSWIRE) -- The “Biomaterials Market Size 2018 by Type of Material (Metallic, Ceramic, Polymers, Natural), Applications (Orthopaedics, Cardiology, Plastic Surgery, Wound Care, Others), Region and Forecast 2019 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
This market research report on the biomaterials industry assesses the market demand, use cases & trending scenario for the period ranging from 2015 to 2025. The report highlights the historical developments from the 2015-2018 & market forecast from 2019 to 2025. The report comprises the current status & future revenue generation avenues of the market at global as well as regional and country levels. Furthermore, the global biomaterials market is segmented based on the type of materials, applications, & geography.
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This report also examines various aspects of the biomaterials industry by assessing the market using value chain analysis. It includes a qualitative narrative on market drivers, restraints, future revenue generation prospects, and key industry trends within the biomaterials industry. Furthermore, it provides an in-depth assessment of major players operating across the globe, which encompasses company profiling, financial snapshot, product portfolio, and recent developments.
Developments in the field of biomaterials are revolutionizing therapeutic and preventive healthcare. With the use of biomaterial-based devices such as hydrogel scaffolds, cortical neural prosthesis, cell interface material, bionic eye, and others, the treatment of various diseases that were previously incurable is now possible. The wooden prosthetic toe, a primitive use of biomaterials in the body, has evolved greatly. Biomaterials currently play an important role in the development of new medical devices, tissue repair and replacement technologies, drug delivery systems, prostheses, and various diagnostic techniques. Increasing collaboration between various biomaterial companies and funding by government bodies will ensure biomaterials’ prevalence in medical as well as non-medical applications in the coming years.
Some of the major companies operating in this industry include Berkeley Advanced Biomaterials, Collagen Solutions Plc, Corbion, Dentsply International Inc., Evonik Industries, Geistlich Pharma AG, DSM, Institut Straumann AG, Ceramtec, and Medtronic among other prominent players.
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The global biomaterials market is segmented based on the type of material and applications. Both segments are further breakdown at regional and country levels across North American, European, Asia Pacific, and Rest of the World. The biomaterial market surpassed 95 billion in the year 2018; North America was the largest market, followed by Europe, and Asia Pacific. The Asia Pacific region offers huge growth potential for biomaterials, due to the increasing number of cardiovascular, osteoarthritis, and dental diseases. Asia Pacific economies are slated to register the highest CAGR of over 15% to surpass 60 billion by 2025, due to collaboration between Asian and European countries, increasing research-related activities and conferences in the region, increased healthcare reforms, and awareness among patients and physicians of biomaterial usage in the treatment of various diseases.
Increased investment of a public and private nature, technological advances, greater scope for the use and deployment of biomaterials, and aging population – who are by far the greatest users of biomaterials – are the major factors that will promote the global biomaterials market growth. However, major deterrents that negatively impact the biomaterials market include immunological and inflammatory reactions, stringent regulatory systems, reimbursement, and the biomechanics issues of fracture, fatigue, and wear.
Currently, the North American region dominated the global biomaterials market, followed by Europe, Asia Pacific, and the rest of the world. However, Asia Pacific is anticipated to grow with the highest CAGR over the forecast period. The European market is characterized by a fragmented picture that affects all sectors: national pricing policies and reimbursements offered by healthcare maintenance organizations, national research, and innovation policies, etc.
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From a technological perspective, the biomaterials market is expected to experience growth due to large increases in the demand for new products that have to interact with their environment in specifically tailored ways. This especially applies to products that are expected to modify the body’s natural reactions to promote tissue and organ regeneration, the so-called “smart biomaterials”. Currently, this field relies largely on the use of “non-smart” biomaterials, which include the traditional categories of metals, ceramics, polymers, & composites.
Growth in the advanced economies is currently sluggish, and these countries are at present exploring new market avenues. In the pre-TRIPS (The Agreement on Trade-Related Aspects of Intellectual Property Rights) era, the product volume in these countries was comparable to the clinical trial capability of these countries. In emerging countries like India, the market share of imported products is maintaining a similar trend as even in the post-TRIPS era.
Biomaterials also present numerous opportunities for the continuous expansion of the market, educational curriculum and regulations. In the last 60 years, some of the classical biomaterial fields have gone through three generations of development, and each generation is significantly different from its antecedents; orthopedics probably is the best example. Low R&D costs, emerging trends in demographics, disease prevalence, and socio-economic status of the emerging markets are driving the global pharmaceutical and biomaterial companies to concentrate on emerging markets like BRIC countries (Brazil, Russia, India, and China).
The Indian biomedical and biomaterials field is on the verge of exploring open market scenario and needs advanced import policies, reduced dependence on imported technologies, thus necessitating a substantial increase in indigenous biomaterial and biomedical industries and R&D. The current scenario is that the country can develop advanced biomaterials and medical devices with an established supply chain. This can be seen from the number of clinical procedures happening in the country, which is comparable to any developed nation. Furthermore, the country needs appropriate platforms, networks, and regulatory bodies. Factors that drive the Indian market are population growth, demographic changes, socio-economic status, and lifestyle diseases, changing governmental policies, capacity to invent and synthesize new materials, and the recent emergence of biotechnology and nanotechnology at a large scale and changing epidemiological landscape.
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The Indian market limiters are lack of industrial initiatives like network between stakeholders, lack of regulatory initiatives, price control policies, appropriate business models, health insurance and competitive global players in biomedical devices. Opportunities in the area of biomaterials and biomedical industries are numerous, and hence addressing the market drivers and limiters together will contribute towards the development of the field. Key implementation strategies are (a) understanding the key functional style of other prominent & compatible sectors like pharmaceutical industry; (b) developing plug-in strategies to improve the current medical therapy, (c) encouraging radical innovation, (d) interface with old allied medical fields like Ayurveda, Unani, along with addressing the need of the emerging areas like tissue engineering and regenerative medicine. Another recent trend is that indigenous technology development and export is growing. The current government policies and campaigns like “Make in India” show clear support for growing biomedical industries in India. This conducive atmosphere can attract further FDI and can develop a manufacturing hub for globally competitive industries in the country.
Major points from Table of Contents:
Chapter 1. Introduction
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Global Biomaterials Market by Type of Material, 2015-2025 (USD Million)
Chapter 5. Global Biomaterials Market by Applications, 2015-2025 (USD Million)
Chapter 6. Global Biomaterials Market by Region, 2015-2025 (USD Million)
Chapter 7. Company Profiles
Chapter 8. Appendix
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