Dublin, Feb. 15, 2024 (GLOBE NEWSWIRE) -- The "Biomaterials Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global biomaterials market, valued at US$ 160 billion in 2024, is on track for substantial growth, projected to reach US$ 455 billion by 2031.
Biomaterials, which can be synthetic or natural, play a vital role in medical applications by replacing or enhancing organs, tissues, or body functions. Biomaterials science combines elements of biology, medicine, chemistry, and tissue engineering to create materials used in various healthcare applications.
Demand Drivers for Biomaterials
- Rising Incidence of Cardiovascular Disorders: Cardiovascular diseases, fueled by factors like smoking, high blood pressure, and inactivity, have witnessed a surge in cases globally. Biomaterials, including heart valves, stents, and pacemakers, play a crucial role in the treatment of heart-related conditions. The World Health Organization reports a significant number of deaths annually due to cardiovascular diseases, highlighting the need for biomaterial-based solutions.
- Technological Advancements: Ongoing technological innovations have expanded the range of biomaterials and their applications. Smart biomaterials, capable of interacting with biological systems, offer promising prospects for various biomedical applications, including drug delivery and tissue engineering.
Regional Insights
- North America: Expected to dominate the global biomaterials market throughout the forecast period, North America boasts a robust healthcare infrastructure and supportive private and public initiatives. The region is a hub for research in gene therapies, vaccine development, and other medical advancements. Favorable government regulations and the presence of prominent market players contribute to market growth.
- Asia Pacific: Following North America, Asia Pacific is poised for significant growth in the biomaterials market. Factors such as an aging population and an increasing incidence of bone fractures have led to growing adoption and installation of biomaterials. India, in particular, is expected to witness rapid expansion in the biomaterials market, with orthopedic, cardiovascular, and dental biomaterials leading the way.
Market Developments
Leading players in the biomaterials market are focusing on strategic collaborations, research and development activities, and expansion to enhance their product portfolios. Collaborations between key firms aim to develop innovative biomaterial-based implants and combination devices, providing a competitive edge and driving market growth.
Key Companies Profiled
- Skan AG
- COMECER S.p.A
- Hosokawa Micron Ltd
- Getinge AB
- Azbil Telstar
- Robert Bosch GmbH
- Klenzaids
- Nuaire
- Iso Tech Design
- M. BRAUN INERTGAS-SYSTEME
- I.M.A. SpA
- Syntegon Technologies GmbH
- Esco Micro Pte. Ltd.
Biomaterials Industry Research Segmentation
By Material:
- Metallic Biomaterials
- Ceramic Biomaterials
- Polymeric Biomaterials
- Natural Biomaterials
By Application:
- Dental
- Cardiovascular
- Orthopedic
- Wound Healing
- Neurology
- Surgery
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/z03jls
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