According to a new market report published by Stratistics “Global Implantable Biomaterials Market Outlook (2014-2022)”, The Global Implantable Biomaterials market is accounted for $79.1 billion in 2014 and estimated to grow at a compound annual growth rate (CAGR) of 6.71% reaching $133 billion in 2022. Biomaterial is used to physically substitute any hard or soft tissue which has undergone any accidental injury or damage through some pathological processes. New technologies are intended to develop the quality of healthcare delivered through former diagnosis, less persistent treatment options and reductions in hospital stays and therapy times.
An upsurge in demand and consumption of polymer biomaterials is triggered by innovations and technological advancements in the coming years. Introducing a new biomedical device to the market requires a regulatory investment of tens of millions of dollars. So, these kinds of regulations by government are hindering the growth of this market.
On the basis of materials, the market is segregated into Metallic, Polymers, Ceramics and Natural. Metallic segment commanded the largest market and is poised to grow at a CAGR of around 7.0% during the forecast period from 2014 to 2022. Metallic biomaterials are typically used to make medical devices, such as artificial hip joints, bone plates and screws, heart pacemakers, stents and dental implants to replace worsening hard tissue in the human body, due to their reliable mechanical and biological performance. However Polymers is expected to grow at the highest CAGR of more than 8% during the forecast period.
On the basis of applications, the market is categorized into Cardiovascular, Orthopedic, Dental, Ophthalmology and Others. Orthopedic implant devices constitute a major application area for biomaterials. At current, strong requirements in orthopaedics are still to be met, both in bone and joint substitution and in the repair and regeneration of bone defects.
Browse the full market research report at "Global Implantable Biomaterials Market Outlook (2014-2022)”
This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. North America commanded the largest market revenue of the global implantable biomaterials market in 2015. North American market growth is likely to be driven by the factors such as increasing aging population, new product innovations, and increase in government investments in biomaterial sector.
The key players in the Global Implantable Biomaterials market include AdvanSource Biomaterials Corporation, Collagen Matrix, Inc., CorbionPurac, Ceradyne, Inc.Celanese Corporation, Biomet, Inc.,Evonik Industries AG, DuPont, Invibio, Inc., Orthofix Holdings, Inc.
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