Biomaterials Market 2022 | Industry Overview and Regional Analysis
Posted by supriya on August 2nd, 2022
Biomaterials Market by Type (Metallic, Polymeric, Ceramic, and Natural) and Application, (Cardiovascular, Dental, Orthopedic, Wound Healing, Plastic Surgery, Ophthalmology, Tissue Engineering, Neurological Disorders, and Drug Delivery Systems): Global Opportunity Analysis and Industry Forecast, 2021-2030
According to a new report published by Allied Market Research, titled, "Biomaterials Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030," the global biomaterials market size was valued at .87 billion in 2020 and is projected to reach 2.40 billion by 2030, registering a CAGR of 12.7% from 2021 to 2030.
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The COVID-19 virus causes illness ranging from common cold to more severe respiratory diseases. The revenue of global biomaterials market also declined in 2020 due to the global economic recession led by the COVID-19 pandemic. For instance, orthopedics implant surgeries and non-essential dental procedures, have been delayed due to the COVID-19 pandemic, which also decreases the demand for biomaterials. Thus, the outbreak of COVID-19 has negatively impacted the biomaterials market.
The biomaterials market is segmented on the basis of type, application, and region. By type, it is bifurcated into metallic, polymeric, ceramic, and natural. Metallic biomaterials are segmented into stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, and silver. Polymeric biomaterials are divided into polymethyl methacrylate (PMMA), polyethylene, polyester, polyvinylchloride, silicone rubber, nylon. Ceramic biomaterials are segmented into calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon, and glass. Natural biomaterials comprise hyaluronic acid, collagen & gelatin, fibrin, cellulose, chitin, alginates, and silk. The metallic segment was the major shareholder in 2020, owing to their high specific strength, high corrosion resistance, and low modulus. In addition, they are highly used in orthopedics, dental, cardiovascular, and neurological permanent and bioresorbable implants, which drive growth of the segment.
Key Market Segments
Titanium and Titanium Alloys
Collagen and Gelatin
Drug Delivery System
Key Findings Of Study
On the basis of type, the metallic segment held largest share in the global market in 2020.
On the basis of application, the orthopedic segment dominates the global biomaterials market in 2020 and is anticipated to continue this trend during the forecast period.
On the basis of region, North America is expected to experience growth at the highest rate, registering a CAGR of 12.5% during the forecast period.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.