The biomaterials market is growing with a considerable rate due to technological advancements, growing number of elderly people and increased investments by government globally. Modern biomaterials in plastic surgery such as decellularized dermal matrixes for grafting and rise of biomaterial market in China and Taiwan are some of the factors providing ample opportunities for the biomaterials market to grow with a more considerable rate in the coming years.
North America dominates the biomaterials market due to the presence of advanced healthcare infrastructure and friendly compensation policies by Centers for Medicare and Medicaid Services in the region. North America is expected to dominate the biomaterials market in the coming years mainly due to increase in investments by the government in biomaterial sector and rise in the aging population. The region is also expected to grow with a significant rate in the coming year due to increase in new products such as botulinum toxins, hyaluronic based injectables and Botox.
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Asia-Pacific biomaterials market is growing with the highest rate due to rising patient awareness levels together with increasing healthcare expenditure in the emerging countries of the region such as China and India. Furthermore, excessive presence of unexploited opportunities in emerging Asia-Pacific economies is expected to support the market to preserve its position in the coming years.
Biomaterials are natural materials used in medical applications such as replacement of tissues and organ transplantation. Biomaterials have developed to involve biodegradable materials as they are easily dissolved in the consumer’s body. The emergence of innovative biomaterial products and advances in technology has improved biomaterials applications and performance. Biomaterials require demonstrating a unique characteristic of being biocompatible so as the consumer’s body should physiologically accept biomaterials.
Some of the factors driving the growth of the biomaterials market are rampant usage of polymers, changing lifestyles of the consumers, companies venturing into the orthobiologics market, and sheer growth anticipated for plastic surgery and wound healing applications. A massive pool of cardiac patients in Asia-Pacific, biomaterials usage in ophthalmology and neurology, and novel discoveries such as development of new biomaterials that can be directly connected to bones are some of the factors acting as opportunities for the biomaterials marker to grow with a considerable rate in the coming years. Some of the factors restraining the growth of the biomaterials market are stringent processes, adverse reactions to biomaterials and biomaterials access assurance act.
On the basis of type, the biomaterials market can be categorized as polymers, ceramics, natural biomaterials and metallic biomaterials. Ceramics includes aluminum oxide, carbon, calcium phosphate, glass, zirconia and calcium sulfate. Metallic biomaterials include cobalt-chrome alloys, stainless steel, platinum, gold, titanium and titanium alloys, and silver. Polymers include polymethylmethacrylate, silicone rubber, polyethylene, polyvinylchloride, polyester and nylon. Natural biomaterials include alginate, collagen and gelatin, chitin, hyaluronic acid and cellulose.
The biomaterials market can be categorized on the basis of applications as ophthalmology, cardiovascular, wound healing, plastic surgery and dental. Cardiovascular includes implantable cardiac defibrillators, stents, vascular grafts, sensors, pacemakers, catheters, guidewires and heart valves. Ophthalmology includes synthetic corneas, intraocular lens, functional replacements of ocular tissues and contact lens. Dental includes dental bone graft and substitutes, tissue regeneration materials, dental implants and dental membranes. Plastic surgery includes craniofacial surgery, facial wrinkle treatment, bioengineered skins, peripheral nerve repair, soft tissue fillers, and acellular dermal matrices. Wound healing includes fracture fixation devices, internal tissue sealant, skin substitutes, adhesion barrier and surgical hemostats. Cardiovascular application dominates the biomaterials market due to high prevalence rates of cardiovascular diseases together with the incidence of high unmet medical needs in the application category.
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Some of the competitors in the biomaterials market are Celanese Corporation, Evonik Industries AG, Invibio, Inc., AdvanSource Biomaterials Corporation, EI du Pont, Ceradyne, Inc., Collagen Matrix, Inc., and Biomet, Inc.
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