Latest News- Biomaterials Market: Metallic is expected to lead the Type segment during 2024-2028

The Biomaterials Market is being driven by Increasing prevalence of musculoskeletal diseases and disorders

The Biomaterials Market is expected to grow at a CAGR of 5.68% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 12.76 billion. The global biomaterials market is experiencing significant growth due to the increasing number of outpatient joint replacement surgeries. These procedures, which include knee replacement, hip replacement, shoulder replacement, and trauma and extremities reconstruction, are on the rise worldwide. Outpatient arthroplasty procedures, performed for patients without serious medical or psychiatric comorbidities, have become increasingly popular. Advancements in surgical techniques, implants, comprehensive blood management, multimodal pain management, and post-operative care have led to reduced hospital stays and eliminated the need for extensive formal rehabilitation. End-users prefer outpatient joint replacement surgeries due to the advantages of shorter hospital stays, increased patient satisfaction, and cost savings for both the healthcare system and the patient. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Metallic
  • Ceramic
  • Polymers
  • Natural
• Application
  • Orthopedic
  • Cardiovascular
  • Dental
  • Neurology
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing prevalence of musculoskeletal diseases and disorders
• Increasing wound healing therapies
• Rising demand for medical implants

However, the market also witnesses some limitations, which are as follows:

• High cost of bioimplants and surgeries
• Stringent clinical and regulatory processes
• Lack of awareness about biomaterial devices

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Market Scope in Biomaterials Market Research Report

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Research Analysis Overview

The Biomaterials Market encompasses the development, production, and application of materials used in various biomedical fields. Key processes include polymer synthesis for creating biocompatible materials, material characterization for understanding properties, and cell viability assays and cytotoxicity testing for assessing safety. Mechanical testing, degradation kinetics, biofilm formation, and inflammation response studies evaluate material performance. Gene expression, protein engineering, and cell signaling research facilitate tissue and organ regeneration. Drug release profiles, controlled release, and targeted delivery systems are crucial for therapeutic applications. Biomedical engineering applications include scaffold design, material selection, bioreactor technology, bioprinting resolution, ink formulation, and cell seeding. Material sterilization, implant integration, and biomaterial safety are essential considerations for clinical trials. Bioactive glass is a notable material with potential applications in bone regeneration and drug delivery.

Market Research Overview

The Biomaterials Market, a segment of the global healthcare equipment industry, encompasses biocompatible polymers, cellulose derivatives, hydrogel scaffolds, and tissue engineering applications for drug delivery systems. Technavio, a leading global technology research and consulting firm, positions this market within the larger healthcare equipment sector. This market segment includes manufacturers of advanced, differentiated, and clinically tested devices, implants, accessories, and consumables used in the diagnosis, monitoring, and treatment of diseases. The global healthcare equipment market size is determined by the combined revenue generated from these product categories.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/