The global Biomaterials Market size is expected to reach USD 488.7 billion by 2030, registering a CAGR of 15.4% over the forecast period, according to a new report by Grand View Research, Inc. The application of biomaterials represents a fast-growing field in biomedical research. Recent advances in the improvement of bioactivity, compatibility, and mechanical properties of biomaterials have introduced new opportunities for their application in tissue engineering, immune engineering, and drug delivery systems.
Biocompatibility, low toxicity, and renewable nature
of polymeric biomaterials make them potent drug delivery agents in controlled
and targeted drug delivery, thus providing lucrative opportunities for the
market growth. The advent of improved drug delivery approaches, such as
PEG-coated liposomes, biopolymer-coated liposomes, and nanomaterials drug
delivery, further expands the prospects of these biopolymers in the
pharmaceutical and medical industries.
Use of biomaterials has greatly benefited the
regeneration of the cardiopulmonary system. These materials provide physical
support and physiological and chemical cues to seeded cells to assist the
tissue regeneration process. Integration of biomaterials with nanotechnology
techniques also stimulates the regeneration of damaged cardiomyocytes’ extracellular
matrix, thus replacing the traditional organ transplantation procedures.
Related Press Release@ Biomaterials Market Report
Biomaterials Market Report
Highlights
- High availability of natural and synthetic degradable polymers and
their wide usage as surgical sutures and implants resulted in the largest
revenue share of the polymers product segment
- Natural products have gained immense popularity as a source of
novel bioactive substance for the development of novel drugs, leading to
fastest growth of this segment
- Increasing incidence of chronic skeletal and musculoskeletal
conditions is expected to raise the demand for biomaterials for
orthopedics application at a large scale
- The infection from coronavirus, that is, SARS-COV-2 can be detected
using existing biomedical devices which are based on
either Polymerase Chain Reaction (PCR) or Non-PCR methods
- Improvement in the surface modification of silicone breast implants
to prevent capsular contracture is one of the factors driving the
biomaterial usage in the plastic surgery segment at the fastest rate
- Biosensor, is an analytical device that is used to detect analytes
such as biomolecules or biological elements of species produced by
micro-organisms, that is tissues, enzymes, and organelles
- North America is expected to dominate the market in terms of
revenue share owing to the presence of public and private agencies
promoting biomaterial usage by hosting events and funding initiatives
- Asia Pacific is anticipated to grow at a rapid pace owing to the
presence of several local manufacturers developing low-cost biomaterial
products, mainly in China
- Prominent players operating in the market include Medtronic,
Evonik, DSM, BASF, Berkeley Advanced Biomaterials, Covalon Technologies,
and Zimmer Biomet Holdings
- Companies are engaged in several strategic growth initiatives, such
as novel product developments, partnerships, and regional expansion to
reinforce their market presence
- For instance, in March 2022, Medtronic announced a collaboration
with Vizient to add Touch Surgery Enterprise to Vizient's portfolio, which
is an AI-powered video management and analytical platform that
provides surgical teams with simple access to procedural recordings and
insights
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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