Dublin, April 30, 2024 (GLOBE NEWSWIRE) -- The "Global Biomaterials Market by Type (Metallic (Gold, Magnesium), Ceramic (Aluminum Oxide, Carbon), Polymer (Polyethylene, Polyester), Natural (Hyaluronic acid, Collagen, Gelatin)), Application (Orthopedic, Dental, CVD, Ophthalmology) - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global biomaterials market is projected to reach USD 64.2 billion by 2029 from USD 45.2 billion in 2024, at a CAGR of 7.3% during the forecast period of 2024 to 2029. Factors such as the Increasing awareness of sustainable and biodegradable materials are predicted to uplift the market in the coming years. Additionally, rising prevalence of chronic diseases and aging populations worldwide is driving the demand for medical implants which will provide lucrative market growth. However, biocompatibility issues associated with biomaterials are predicted to restrict the market. 
The metallic biomaterials segment held the dominant share in the biomaterials market
Based on type, the global biomaterials market is segmented into polymeric (polymethylmethacrylate, polyethylene, polyester, polyvinylchloride, silicone rubber, nylon, polyetheretherketone, other polymeric biomaterials), metallic (stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, silver, magnesium, and other metallic biomaterials), natural (hyaluronic acid, collagen, fibrin, cellulose, chitin, alginate, gelatin, chitosan, silk, other natural biomaterials), and ceramic (calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon and glass). The conventional use of metallic biomaterials is expected to drive the expansion of the biomaterials market.
The largest share of 2023 was occupied by the Orthopedic segment
Based on application, the biomaterials market is classified into Tissue Engineering, Ophthalmology, Neurological/Central Nervous System,, Cardiovascular, Wound Healing, Urinary, Dental, Plastic Surgery, and Other Applications. The orthopedic segment leads, due to the rise in the prevalence of musculoskeletal injuries, osteoporosis, and osteoarthritis and other orthopedic disorders.
APAC region estimated to grow at a faster pace
The biomaterials market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. APAC region is projected to grow at the highest CAGR during the forecast period. are expected to support biomaterials market growth in the region. Increasing awareness of personalized medicine, technological advancements and innovation and rising incidence of chronic diseases are the reasons which support market growth in this region.
Research Coverage
This report provides a detailed picture of the biomaterials market. It aims to estimate the size and future growth potential of the market across different segments, such as type, application and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
In this report, the biomaterials market has been segmented based on type, application, and region. Some of the prominent players in the biomaterials market are BASF SE (Germany), Covestro AG (Germany), Celanese Corporation (US), Corbion (Netherlands), Royal DSM (Netherlands), Evonik Industries (Germany), Carpenter Technology Corporation (US), Berkeley Advanced Biomaterials (US), Cam Bioceramics B.V. (Netherlands), CoorsTek Inc. (US), CeramTec (Germany), and GELITA AG (Germany).
Key Attributes
| Report Attribute | Details |
| No. of Pages | 664 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $45.2 Billion |
| Forecasted Market Value (USD) by 2029 | $64.2 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Premium Insights
- Increasing Demand for Implantable Devices to Drive Market
- US and Metallic Biomaterials Commanded Largest Share in North American Biomaterials Market in 2023
- Metallic Biomaterials to Witness Highest Growth Rate During Forecast Period
- Orthopedic Segment to Grow at Highest CAGR During Study Period
Market Dynamics
- Drivers
- Growing Demand for Biomaterials in Wound Healing and Plastic Surgery
- Growing Use of Biomaterials in Various Therapeutic Areas
- Rising Funding and Investments in Regenerative and Personalized Medicine
- Growing Demand for Implantable Devices
- Restraints
- Biocompatibility Issues
- Opportunities
- Growing Interest in Bioabsorbable Biomaterials
- Expanding Healthcare Market in Emerging Economies
- Rising Opportunities in Personalized, Smart, Nanoengineered, and Sustainable Biomaterials
- Challenges
- Durability and Long-Term Performance Issues
Companies Featured
- BASF SE
- Covestro AG
- Celanese Corporation
- Carpenter Technology Corporation
- Evonik Industries AG
- DSM
- Corbion Nv
- Victrex PLC
- Ceramtec GmbH
- Mitsubishi Chemical Corporation
- Coorstek Inc.
- Berkeley Advanced Biomaterials
- Cam Bioceramics B.V.
- Zeus Company Inc.
- Ametek Inc.
- Gelita AG
- Collagen Solutions (US) LLC)
- Biocomposites
- Noble Biomaterials, Inc.
- Regenity
- Kuraray Co. Ltd.
- Solesis
- Institut Straumann AG
- Foster Corporation
- CDI Products
For more information about this report visit https://www.researchandmarkets.com/r/9uarjc
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