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As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Global Biomaterials Market Forecast to Grow at a CAGR of 12% between 2021 and 2026.
According to a new report by EMR titled, ‘Global Biomaterials Market Report and Forecast 2021-2026’, the global biomaterials market size was valued at USD 105.28 billion in 2020. The global biomaterials market is projected to grow at a CAGR of 12% in the forecast period of 2021-2026 to reach USD 207.8 billion by 2026.
The global biomaterials market is being driven by the rising funds and grants for the advancement of the novel biomaterials. North America registered the largest market share in the global biomaterials market in recent years. The Asia Pacific region is expected to witness the fastest growth in the forecast period due to the boost in Japan’s healthcare industry, increasing geriatric population in India and China, and the growing incidences of cardiovascular diseases in India.
Medtronic plc (NYSE: MDT) and Zimmer Biomet Holdings, Inc. (NYSE: ZBH) are some of the key players in the global biomaterials market. In September 2020, Zimmer Biomet Holdings, Inc., a leading player in the musculoskeletal healthcare industry, announced the clearance for the Persona Revision Knee System for revision knee replacement procedures. The revision system provides anatomic components to mimic a patient’s anatomy for a personalised experience. The Persona Revision Knee System, which comes with a modern, intuitive instrumentation platform, aids surgeons take a personalised approach to address revision procedures, ranging from simple to complex by offering a flexible and preferable surgical approach.
Market Analysis by Product, Application, and Region:
- The biomaterials market is divided based on product into metallic, natural, ceramics, and polymers.
- On the basis of application, the biomaterials market is divided into cardiovascular, ophthalmology, dental, orthopaedic, wound healing, tissue engineering, plastic surgery, and neurology, among others.
- Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
- The global biomaterials market is driven by the rising geriatric population, along with the increasing incidences of neurological, cardiovascular, and orthopaedic diseases.
- Huge financing from the public sector to launch new products, increase in the manufacture of implantable products, rising awareness regarding the benefits of biomaterial products, and improvement in medical technology are some of the factors aiding the growth of the biomaterials market.
- The rising number of free trade agreements (FTAs) provide great opportunities to the medical device companies to increase their growth; as a result, accelerating the market growth of biomaterials.
- The biomaterials market is being propelled forward due to the growing use of polymers in soft-tissue applications like plastic surgeries.
Key Offerings of the Report:
- The EMR report gives an overview of the global biomaterials market for the periods (2016-2020) and (2021-2026).
- The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the product, application, and regional markets of biomaterials.
- It gives an in-depth look at the regional price trends in the global biomaterials market for the periods (2016-2020) and (2021-2026).
Medtronic plc, Evonik Industries AG, Berkeley Advanced Biomaterials, Inc., CAM Bioceramics BV., Carpenter Technology Corporation, Invibio Ltd., and Zimmer Biomet Holdings, Inc., among others, are the key players in the global biomaterials market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
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