The global biomaterials market is growing at a CAGR of 4.1% from 2013 to 2019. Being valued at $25.2 billion in 2012, it will become worth $33.6 billion in 2019, according to a report by Transparency Market Research. Backing this growth is the fact that the National Joint Registry reported a rise of more than 7% in replacement procedures in the U.S. in 2012 alone.
The report titled “Biomaterials Market for Implantable Devices (Material Type - Metals, Polymers, Ceramics and Natural, Applications - Cardiology, Orthopedics, Dental, Ophthalmology and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, describes in detail the current size and future scope of biomaterials.
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The report provides a segmented analysis of the biomaterials market by dividing it into material-based sectors. It says that metal accounted for the biggest share in the biomaterials market in 2012. Polymer was second, and is now the fastest growing segment in this market. It is stated to grow the fastest from 2013 to 2019. The report cites reasons such as the flexibility, durability and biocompatibility of polymers for its market rise.
Polymers have found use in a maximum number of implants, such as PCTA catheters, intra-ocular lenses, heart valves, and dental prosthetics. Polymers are also used in the fields of gastroenterology and urology. The increasing number of hip and joint replacement surgeries in 2012 prompted a surge in the biomaterials market due to their demand in orthopedic applications.
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The developed nations of the U.S., Germany, Canada, France, the U.K., and Italy have recorded a growing need for biomaterials in medical implants. The report mentions the key reason for this being the baby boomer generation reaching their sixties. Dental problems, bone-related illnesses and fractures, and eye disorders are increasing in number in the U.S., fueling the demand for biomaterials.
The report puts North America as the largest biomaterials market, followed by Europe. It also says that the Asia-Pacific countries of Japan, China, South Korea, and India will play a key role in the regional growth of the biomaterials market. It says that the heavy competition for companies in the developed countries is driving them to pursue business in the developing ones.
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The report names the key players in the global biomaterials market are Corbion Purac, Biomet, Inc., Invibio, Inc., Celanese Corporation, Collagen Matrix, Inc., Ceradyne, Inc., DuPont, AdvanSource Biomaterials Corporation, and Royal DSM.
Further segments in the report are undertaken using type and geography as categories. By type, the report distinguishes between metals, polymers, ceramics, and naturals. By geography, the report identifies North America, Europe, Asia-Pacific, and Rest of the World.