Biomaterials owing to their significant role in myriad applications in the contemporary healthcare are expected to witness lucrative growth during the forecast period. Biomaterials are revolutionizing various aspects of therapeutic and preventive healthcare. Biomaterials are being extensively used as critical constituents of extracorporeal devices such as kidney dialyzers and other implantable systems and in the development of new prostheses, tissue repair and diagnostic techniques. Rising prevalence of chronic diseases coupled with growing geriatric population base is a high impact rendering driver for the biomaterials market. Biomaterials provide huge potential quality-of-life benefits for all, thus are the focus of major research around the world thereby, paving the path for the further growth of the overall biomaterials market.
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Under the applications, cardiovascular segment is expected to witness most lucrative growth owing the rising prevalence of cardiac diseases globally leading to significant use of implantable manufactured using biomaterials. The orthopedic segment will also have spurred use globally owing to rising incidences of bone related disorders.
Regionally North America was the market leader in 2013, owing to the presences of large population base suffering from various disorders. Europe’s market is also expected to witness substantial growth during the forecast period owing to the support provided by the European government for biomaterials research projects to facilitate increased use of these in this region.
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Key companies operating in the global biomaterials market include Collagen Matrix Inc., Kyocera Corporation, Morgan Tecxhnical Ceramics, Noble Biomaterials Inc., Biomet Inc., Cam Bioceramics BV, Wright Medical Group Inc. and Ticona Gmbh.
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