Biomaterials Market to Develop at Phenomenal 15.4% CAGR by 2031 | SkyQuest Technology
Westford, USA, Aug. 27, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Biomaterials market will attain a value of USD 438.1 billion by 2031, with a CAGR of 15.4% over the forecast period (2024-2031). Growing investments in the development of novel biomaterials and high demand for advanced wound care products are predicted to bolster the demand for biomaterials over the coming years. Rising demand for regenerative medicine is also projected to create new business scope for biomaterials suppliers across the forecast period.
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Browse in-depth TOC on “Biomaterials Market”
- Pages – 197
- Tables – 95
- Figures – 76
Biomaterials Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 155.9 billion |
| Estimated Value by 2031 | $ 438.1 billion |
| Growth Rate | Poised to grow at a CAGR of 15.4% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growing demand for regenerative medicine |
| Key Market Drivers | Advancements in wound care and rising investments in the development of smart biomaterials |
Metallic Biomaterials Hold Sway Over Revenue Generation Owing to High Use in Prosthetics
The growing incidence of trauma and injuries worldwide has resulted in high demand for prosthetics. Metallic biomaterials are rigid and offer excellent support to medical prosthetics and implants while also being necessarily flexible. This is why metallic biomaterials are being extensively used in the making of dental implants and other types of medical prosthetics.
Biomaterials are Projected to be Extensively Used in Cardiovascular Applications as their Incidence Rises
Poor lifestyle choices have led to a massive upsurge in the incidence of cardiovascular diseases thereby promoting the use of biomaterials. The use of biomaterials helps in repairing and regenerating cardiovascular tissues to cure patients. Growing investments in the development of novel cardiovascular treatments are helping this segment maintain a high market share.
Heavy Investments on Medical R&D Helping North America Dominate Biomaterials Demand
North America is estimated to emerge as the leading market for biomaterials providers owing to high investments in healthcare research. Growing incidence of cardiovascular disorders and the rising use of biomaterials in healthcare 3D printing are also helping this region hold the leading position. The United States and Canada are slated to be the top countries for biomaterials companies in this region.
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Biomaterials Market Insights:
Drivers
- Increasing demand for novel treatments
- Rising investments in the development of new biomaterials
- Use of biomaterials in healthcare 3D printing applications
Restraints
- High costs of biomaterials
- Issues regarding biocompatibility of biomaterials
- Ethical concerns regarding the use of biomaterials
Prominent Players in Biomaterials Market
The following are the Top Bioinformatics Companies
- Evonik Industries AG
- Corbion
- BASF SE
- Royal DSM NV
- Invibio Ltd.
- Carpenter Technology Corporation
- Celanese Corporation
- Berkeley Advanced Biomaterials Inc.
- Cam Bioceramics B.V.
- Collagen Matrix Inc.
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Key Questions Answered in Biomaterials Market Report
- What drives the global Biomaterials market growth?
- Who are the leading Biomaterials providers in the world?
- Which region leads the demand for Biomaterials in the world?
This report provides the following insights:
- Analysis of key drivers (growing demand for novel treatments of chronic diseases, high use of biomaterials in healthcare 3D printing), restraints (high costs of biomaterial development, biocompatibility issues of biomaterials, ethical concerns regarding use of biomaterials), and opportunities (high demand for regenerative medicine, development of advanced wound care solutions), influencing the growth of Biomaterials market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Biomaterials market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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