Global Biomaterials Market Soars to $102.8 Billion in 2022, Set to Surge to $202.7 Billion by 2028, Reveals New Report


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:

  1. 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.
  2. 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.
  3. 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.
  4. Cardiovascular Diseases: The rising prevalence of cardiovascular diseases is contributing to the demand for biomaterials, especially in the field of cardiology.
  5. 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:

  1. What was the size of the global biomaterials market in 2022?
  2. What is the expected growth rate during 2023-2028?
  3. What are the key growth drivers of the biomaterials market?
  4. How has COVID-19 impacted the market?
  5. What are the types of biomaterials and their applications?
  6. Which regions are key in the global biomaterials market?
  7. Who are the key players in the market?



Key Attributes:

Report AttributeDetails
No. of Pages142
Forecast Period2022 - 2028
Estimated Market Value (USD) in 2022$102.8 Billion
Forecasted Market Value (USD) by 2028$202.7 Billion
Compound Annual Growth Rate12.0%
Regions CoveredGlobal

For more information about this report visit https://www.researchandmarkets.com/r/sabdrp

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Attachment

 
Global Biomaterials Market

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