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Biomaterials are those non-viable materials, which are natural or synthetic in nature and suited to treat or replace natural body tissues or organs on interaction with biological systems. Traditionally, biomaterials were used in military surgical operations. But in recent times, these had penetrated civilian sector at a rapid rate.
From ancient times, when bark bandages were pressed onto a wound, biomaterials had shown its presence.By 2016, doctors worldwide have implanted more than 200,000 pacemakers, 100,000 heart valves, one million orthopaedic devices and five million intraocular lenses approximately.These materials also giving proxy as bone substitute and collagen membranes etc. in regenerationprocess in orthopaedics as well as in regenerative dentistry.Naturally, this vivid use of implant is fostering the growth of ‘’Biomaterials market’’. Researchers are predicting a good future of this market, since biomaterials are backbone of major medical break such as joint replacements, prosthetic heart valves, cardiac pacemakers, kidney dialysis, hip replacement implants and many more. Mass development of such lifesaving products has leaded the growth in the fields of tissue engineering, material science etc. and has given a new platform to biomaterials market.
The biomaterials market is expected to be in between US$ 68 billion to 73 billion in 2016 and is expected to grow at a healthy CAGR.
Notable industry movements:
# Primary growth factors include prevalence of diseases such as osteoporosis and arthritis, demanding implants in bulk quantity and in turn fostering the biomaterials market.
# Geriatric people are very much prone to injuries and accidents,main causal factor for the medical implant’s growing market.
# Vast number of medical implant cases, occurring in developed nations like U.S., Canada, Spain, Germany, France and Italy are helping in expansion of this biomaterials market.
# Moreover, highly advanced plastic surgery and wound healing applications will further fuel the market growth.
# Though, absence of favorable healthcare services in developing and underdeveloped countries, stringent clinical processes, costly clinical trials etc. are playing the role of hindering factors in biomaterials market growth.
Growth factors :( driving and deterring); at a glance:
Increased number of geriatric population
Rising cases of hip and knee replacement procedures
Increased number of nephrological and cardiovascular cases
Biocompatible nature of implants, making the biomaterial popular
Strict legal and regulatory impediments
Costly ,time consuming clinical and regulatory trials
Based on type, biomaterials market is segmented into metallic, ceramic, polymeric and natural. Metallic segment is in high demand among healthcare divisions. It has four subtypes namely stainless steel, titanium and titanium alloys along with gold, silver and magnesium.
Based on application, biomaterials market is segmented into dental, ophthalmology, orthopaedic, cardiovascular, wound healing, tissue engineering and other applications.Among them, the cardiovascular segment is taking the major market share presently, which may overtake by plastic surgery and wound healing segments in coming years.
Geographical framework and growth trends:
Globally, biomaterials productionis dominated by North America followed by Europe. These two regions are grabbing the major share of the market and showing the trend to continue the same over forecast period. In coming years, Latin American nations such as Brazil and Argentina, is also expected to make new entries in this market.
However, developing countries such as China, India and Malaysia are playing the role of new but firm entrants in biomaterials market due to large patient base, dense population density and underserved medical implants.
Here in biomaterials market, the big players include-
Berkeley Advanced Biomaterials INC.
Carpenter Technology Corporation
Collagen Matrix Inc.
CAM Bioceramics BV
Evonik Industries AG
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