Biomaterials Market- Global Industry Perspective and Forecast 2015 – 2020
According to the report "Biomaterials Market by Material type, by Application, and by Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2015 – 2020)", published by Market Data Forecast, the global market is projected to reach USD 125.152 Billion by 2020, at a CAGR of 14% from 2015 to 2020.
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Biomaterials can either be therapeutic or diagnostic, they are made in such a way that they can easily interact with the biological systems for a medical purpose. These materials can be synthesized in laboratory using various components such as polymers, metallic components, ceramics and composite materials or they can be obtained naturally. Biomaterials are used very widely like as a heart valve, dental applications, drug delivery or even as major parts such as hydroxyl-apatite coated hip implants.
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Biomaterials are easily accepted by the biological systems which increases their demand over plastic materials. Support from government in terms of funding, investment and grants, research on advancements in the medical technology, increasing geriatric population and rise in demand for biomaterials in neurology, plastic surgery, cardiology and wound healing are some of the major factors driving the market.
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Segmentation based on product
- Plastic surgery
- Tissue engineering
- Wound healing
By material type:
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Key players in the biomaterials market are Collagen Matrix Inc., CAM Bioceramics BV, Invibio Ltd. Inc., BASF SE, Covalon Technologies Ltd., Carpenter Technology Corporation, Bayer AG, Berkeley Advanced Biomaterials, Corbion N.V., Wright Medical Technology Inc., Evonik Industries AG, Zimmer Biomet Holdings Inc. and royal DSM.
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