Biomaterials Market Performance: Key Metrics and Growth

• Posted by Karls Scott November 18, 2024 Filed in Business #Biomaterials Market  24 views
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  The global biomaterials market was valued at USD 178.0 billion in 2023 and is anticipated to grow at a CAGR of 15.6% from 2024 to 2030. The demand for biomaterial-based implants is driven by the increasing prevalence of musculoskeletal and chronic skeletal conditions. Conditions such as osteoarthritis and degenerative diseases necessitate advanced biomaterials for interventions like joint replacements, which help restore mobility and alleviate pain.

  Key Drivers of Growth:
  
  

  Metallic Biomaterials

  • Provide durable, long-lasting solutions.
  • Improve functionality and enhance quality of life through integration with the body.
  • Advancements in biocompatibility, corrosion resistance, and integration capabilities drive their adoption.

  
  Technological Advancements

  Innovations in biomaterials promote healing, integration, and reduced complications post-implantation.

  Developments in nanotechnology and polymer-based constructs enhance the ability to mimic natural biological structures, enabling better treatment outcomes.

  Example: Evonik’s VESTAKEEP iC4800 3DF PEEK filament (2022) improves implant-bone fusion.

  
  Aging Population

  The rise in chronic conditions and age-related injuries among older adults heightens the demand for
  biomaterials, offering tailored solutions for this demographic.

  
  Tissue Repair Applications

  Biomaterials are increasingly used for replacing or repairing tissues like bones, teeth, and organs, addressing challenges such as donor shortages and immune rejection.

  Gather more insights about the market drivers, restrains and growth of the Global Biomaterials Market
  
  

  Regional Market Insights:

  North America Biomaterials Market Trends

  Market Leader (2023):

  • Driven by public-private initiatives (e.g., National Science Foundation, National Institute of Standards and Technology) and strong government policies.
  • Presence of major players enhances innovation and market penetration.

  U.S. Trends:

  • Largest market share in the region, supported by strategic partnerships and innovations in surgical procedures.
  • Europe
    
    

  Significant Growth Forecast:

  • Investments by key players, a robust industrial base, and supportive regulations.
  • UK: High prevalence of cardiovascular diseases boosts biomaterials for tissue restoration.
  • Germany: Key contributor with innovations in grafting and implant materials.
  • France: Aging population and neurological diseases drive demand for biomaterials.

  
  Asia Pacific Biomaterials Market Trends

  Fastest Growth Rate:

  • Regional players expand through strategic acquisitions (e.g., Mitsubishi Chemical’s 2019 deal with AdvanSource Biomaterials).
  • Japan: Dominates the market with advanced healthcare infrastructure and R&D initiatives.
  • China: Local companies lead, supported by government backing and competitive pricing.
    
    

  Middle East & Africa Biomaterials Market Trends

  Steady Growth:

  • Rising awareness and adoption of biomaterial technologies.
  • High prevalence of cardiovascular diseases in regions like UAE fuels demand for stents and grafts.
  • South Africa: Growth impeded by economic challenges but supported by initiatives like the Biomanufacturing Innovation Centre (BMIC).

  Browse through Grand View Research's Biotechnology Industry Research Reports.

  • Bioprocess Bags Market: The global bioprocess bags market size was estimated at USD 4.03 billion in 2024 and is expected to grow at a CAGR of 16.40% from 2025 to 2030.

  • Sample Preparation Market: The global sample preparation market size was valued at USD 7.88 billion in 2024 and is expected to grow at a CAGR of 6.1% from 2025 to 2030.

  Competitive Landscape:

  Key Strategies:

  • Product approvals to enhance market reach.
  • Expansion and acquisitions to strengthen market positions, diversify portfolios, and enhance competencies.

  Focus Areas:

  Innovation in 3D-printable biomaterials, regenerative medicine, and solutions for reconstructive surgery.

  The biomaterials market continues to expand, driven by technological innovations, rising healthcare demands, and strategic industry initiatives. These factors collectively position biomaterials as a critical component in addressing evolving global healthcare challenges.

  List of Key Players in Biomaterials Market

  • Medtronic
  • Evonik Industries AG
  • Carpenter Technology Corporation
  • Berkeley Advanced Biomaterials
  • Invibio Ltd.
  • Zimmer Biomet Holdings, Inc.
  • BASF SE
  • Covalon Technologies Ltd.
  • Stryker
  • Johnson & Johnson
  • Dentsply Sirona
  • CoorsTek Inc.
  • Corbion
  • Regenity Biosciences

  Order a free sample PDF of the Biomaterials Market Intelligence Study, published by Grand View Research.