Biomaterial Industry Market Research & Statistics

 
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Global Biomaterial Industry

 

The global biomaterials industry was worth close to $38 billion in 2011, according to research from Industry Experts. The market is expected to record close to 15% yearly growth for the ten-year period ending 2017 to reach $84 billion.

 

Biomaterials are used in the manufacture of medical devices, making them biocompatible. Medical devices are subject to strict regulatory standards. Medical technology development has negatively impacted plastic materials used in medical applications.

 

Biocompatibility has become key for implant materials, with strict demands regarding mechanical performance.

 

 

 

Key Market Segments

 

  • The global orthopedic biomaterial industry generated $12 billion in 2010, representing close to 38% of the overall biomaterial market, reports Markets and Markets. Demand is fuelled by an aging population and technological advancements in the biomaterials market. Market growth is expected to reach a yearly rate of close to 13% between 2010 and 2015, which is relatively slow as a result of market maturity.

 

  • Organic and synthetic orthopedic biomaterial products are used for implant in or around bone fractures. Their function is to encourage healing or make up for declining or absent bone tissue. Biomaterials need to be biocompatible not to result in inflammation or to be rejected by the body. Kalorama Information states that biomaterial products for orthopedic surgery include xenografts, synovial fluid substitutes, autografts, polymers, allografts, bone growth factors and ceramics. Common applications for orthopedic biomaterials include bone cements, fracture fixation plates, bone defect fillers and surface coatings for hip prostheses.

 

  • The global biocompatible materialsmarket is expected to exceed $63 billion by 2015, reports Global Industry Analysts. Market growth is fuelled by rising life expectancy, an aging population, broader application areas of biomaterials, increased use of biocompatible materials, patient benefits and awareness, and comparatively shorter life cycles of medical device products.

 

  • Growth in the significant areas of biomaterial application include drug delivery, orthopedic, cardiovascular and neurological. On a yearly basis, 200,000 pacemakers and around 1 million orthopedic devices are implanted in patients worldwide. The industry is witnessing increasing use of natural substances like animal and human tissues in biomaterials for surgical use, driven by developments in tissue processing technologies, particularly in chronic conditions such as organ malfunction or failure. Leading companies operating in the global biocompatible materials industry include Orthovita, Synthes, A.P. Pharma, Integra LifeSciences, SurModics, Angiotech, SaluMedica, Biocoat, Artimplant, Dentsply International, AST Products and Invibio.

 

  • The world collagen and HA-based (Hyaluronic Acid-based) biomaterials market is expected to exceed $3.5 billion by 2017, according to research from Global Industry Analysts. Market growth will be fuelled by increasing interest in personal healthcare and a global aging population. Growth in the sector would benefit from technological advancements and developments in facial aesthetic dermal implants, bone grafting substance, and tissue engineering.

 

  • The US dominates the world market for collagen and HA-based biomaterials due to higher personal healthcare awareness and an aging population. The rest of the world constitutes the regional market recording the fastest rate of growth, expected to remain close to 12% through 2017. Hyaluronic Acid-based Biomaterials represent the leading market segment, and viscosupplements represent the largest segment among HA-based biomaterials. Facial aesthetic dermal implants represent the segment expected to record the fastest growth through 2017. Biomaterials demand for the treatment of cataracts, wrinkles and osteoarthritis is being driven by an aging worldwide population.

 

 

Market Outlook

 

The global biomaterials market is expanding due to physical disability among an increasing aging population. According to Markets and Markets, over 20% of the world’s population will be over 60 years of age in 2050, which points to vast potential for the biomaterials market. Issues that will dictate the market’s growth rate include the extensive research necessary for the development of new and higher quality products, pricing and regulations.

 

Due to the high expense of biomaterial products, performance is of particular importance as it can defend the expense factor. Moving forward, mergers and acquisitions will remain important, with the market witnessing greater collaboration between material suppliers and manufacturing outfits. US state funding of the healthcare sector may also drive the biomaterials market.

 

 

Leading Industry Associations

 

ReportLinker.com offers immediate download access to top market reports & statistics on the Biomaterial Industry from trusted sources.
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