How Future will Impact Biomaterials Market 2019 in Healthcare and Biotechnology Industry

Factors such as the increased funds & grants by government bodies worldwide for the development of novel biomaterials, rising demand for medical implants, and the rising incidence of cardiovascular diseases are driving the growth of the market.

Emerging markets such as China, India, and Japan are the key areas of opportunity for players in this market. However, stringent clinical & regulatory processes and unfavorable healthcare reforms in the US are expected to restrain the growth of this market during the forecast period.

Increased funds and grants by government bodies and universities for the development of novel biomaterials

The demand for and usage of biomaterials in various medical applications has increased significantly across the globe over the last few years. Also, several government bodies and universities have extended their help in the form of investments, funds, and grants to promote research into the development of novel biomaterials. Mentioned below are some of the important developments in this regard:

  • Two European Commission programs allocated USD 15.6 billion for biomaterials research for a period of five years (2013–2017).
  • In March 2018, Drexel University granted USD 200,000 to the National Science Foundation for research on how biomaterial-mediated control over macrophage behavior affects biomaterial vascularization.
  • In October 2016, researchers from the University of Strathclyde received a grant of USD 106,729 (EUR 98,848) from the Engineering and Physical Sciences Research Council (EPSRC) for engineering self-assembling silk hydrogels for the delivery of stem cells.
  • In January 2016, researchers from the University of Bolton received a grant of USD 107,805 (EUR 99,845) from EPSRC for the development of multifunctional gel scaffolds for cell delivery and tissue repair.
  • In October 2015, the Department of Defense (DoD) awarded USD 6 million to the Houston Methodist Research Institute (US) for studying two new materials that would help repair complex fractures in long bones.
  • In August 2015, the EPSRC granted USD 6.04 million (GBP 5.4 million) to Morgan Alexander (professor at the University of Nottingham) to support the Next Generation Biomaterials Discovery program.

Such research and funding activities are expected to boost the development of innovative biomaterials, thus offering an array of opportunities for the growth of the biomaterials market.

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The following Companies as the Key Players in the Biomaterials Market Research Report:

Royal DSM (Netherlands), BASF SE (Germany), Corbion (Netherlands), Carpenter Technology Corporation (US), Evonik Industries (Germany), Berkeley Advanced Biomaterials (US), Cam Bioceramics B.V. (Netherlands), Celanese Corporation (US), CoorsTek Inc. (US), CeramTec (Germany), and GELITA AG (Germany).

An increasing number of free-trade agreements

Free-trade agreements (FTAs) comprise a treaty between two or more countries, aimed at reducing trade barriers such as tariffs and customs. These agreements are aimed at enabling rapid and smoother movement of goods across the member countries, improve market access, and enhance the economic relationship between the member countries. FTAs also enable the elimination of duties on trade goods, including pharmaceuticals and medical devices. As a result, FTAs offer major opportunities for medical device companies to increase their exports and expand their market reach in member countries. The recent implementations of several FTAs are thus expected to increase the demand for medical devices across the participating countries. A few of the agreements are listed below.

Biomaterials Market Regional Coverage

In the regional analysis section, the report authors have shown how different regions and countries are growing in the Biomaterials market and have predicted their market sizes for the next few years. 

  • The Middle East and Africa (GCC Countries and Egypt)
  • North America (the United States, Mexico, and Canada)
  • South America (Brazil etc.)
  • Europe (Turkey, Germany, Russia UK, Italy, France, Spain, etc.)
  • Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand,  India, Indonesia, and Australia)

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The metallic biomaterials dominated the biomaterials market in 2018

The market is segmented into metallic, polymeric, ceramic, and natural biomaterials. The metallic biomaterials segment dominated the market in 2018. The dominant share of this segment is primarily attributed to the wide use of metals in the manufacturing of medical devices used in cardiovascular, dental, and orthopedic applications. However, the polymeric biomaterials segment is expected to grow at the highest CAGR during the forecast period. This is mainly due to the increasing use of polymers in soft-tissue applications such as plastic surgeries.

See Also: Dental Implant And Prosthetic Manufacturers To Boost Dental Biomaterials

The scope of the Biomaterials Market:

Report MetricDetails
Market size available for years2017–2024
Base year considered2018
Forecast period2019–2024
Forecast unitsValue (USD)
Segments coveredType, Application, and Region
Geographies coveredNorth America, Europe, the Asia Pacific, and the Rest of the World
Companies coveredRoyal DSM (Netherlands), BASF SE (Germany), Corbion (Netherlands), Carpenter Technology Corporation (US), Evonik Industries (Germany), Berkeley Advanced Biomaterials (US), Cam Bioceramics B.V. (Netherlands), Celanese Corporation (US), CoorsTek Inc. (US), CeramTec (Germany), and GELITA AG (Germany).

Key Reasons to Purchase

  • How will the current technological trends affect the market in the long-term?
  • What are the reasons contributing to the growth of the polymeric market?
  • Which regions are likely to grow at the highest CAGR?
  • What are the challenges hindering the adoption of biomaterials?
  • What are the growth strategies being implemented by major market players?

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