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Global Polymeric Biomaterials Market to Grow at a CAGR of 15.70% During 2022-2027, Aided by the Growing Demand for Polymeric Biomaterials in the Pharmaceutical and Therapeutics Industry

According to a new report by EMR titled, ‘Global Polymeric Biomaterials Market Report and Forecast 2022-2027’, the market is expected to grow at a CAGR of 15.70% between 2022 and 2027.

The growing demand for polymeric biomaterials in the pharmaceutical and therapeutics industry owing to the high biocompatibility of biopolymers is driving the market growth. In addition to this, the rising application of this material in neurology, cardiology, and orthopaedics is likely to propel the market growth, owing to the rising cases of chronic cardiovascular, musculoskeletal, and neurological illnesses. Furthermore, the rising demand for biomimetic devices is projected to boost the demand for polymeric biomaterials in the forecast period.

In September 2021, BASF SE (OTCMKTS: BASFY) announced that the company is cooperating with WPO Polymers to distribute ecovio® biopolymer for certified compostable bags in Spain and Portugal. This development strategy of BASF will expand the reach of the company in Spain and Portugal markets in the future.

In terms of region, the Asia Pacific is anticipated to witness a considerable growth in the forecast period. The market in the region is driven by the growing expansion of the healthcare industry, especially after the COVID-19 outbreak. The growing competition among biopharmaceutical companies in emerging economies is anticipated to offer lucrative growth opportunities to the market. Moreover, the rising geriatric population, along with the risk of diseases associated with it, is likely to augment the market further.

Market Breakup by Application and Region:

  • The market is segmented, based on application, into neurology, cardiology, orthopaedics, and wound care, among others.
  • Region-wise, the global market for polymeric biomaterials can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for polymeric biomaterials is being driven by the rising healthcare expenditure across the developing countries.
  • The thriving pharmaceutical and therapeutic industry is anticipated to augment the market in the forecast period.
  • In addition to this, the increasing inclination towards minimally invasive treatment procedures is likely to provide impetus to the market.
  • The market is expected to be further aided by the growing competition between the major biopharma companies.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for polymeric biomaterials for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the applications and regions of polymeric biomaterials.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global polymeric biomaterials market are Corbion NV, Bezwada Biomedicals, LLC, DSM Biomedical B.V., BASF SE, Covestro AG, Evonik Industries AG, and Starch Medical, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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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.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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