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, including knee, hip, shoulder replacement, and trauma and extremities reconstruction, are on the rise due to advancements in surgical techniques, implants, comprehensive blood management, multimodal pain management, and post-operative care management. Patients with no serious medical or psychiatric comorbidities are opting for outpatient surgeries due to their advantages, such as shorter hospital stays, increased patient satisfaction, and reduced costs for both the healthcare system and the patient. This trend is expected to continue, driving demand for biomaterials in the orthopedic industry. 

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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

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Biomaterials Market encompasses various types of materials engineered to interact with biological systems for tissue regeneration and medical applications. Key players include bioactive glass ceramics, collagen-based scaffolds, hydroxyapatite coatings, polylactic acid and polyglycolic acid polymers, chitosan biomaterials, alginate hydrogels, and silk fibroin scaffolds. Cellular response assays evaluate inflammatory response, tissue regeneration, and applications in bone, cartilage, neural, vascular tissue engineering, dental, and ophthalmic fields. Biomaterial design principles, toxicity testing, biodegradability studies, mechanical strength testing, and biocompatibility standards are crucial in clinical trials for drug eluting stents, biosensors, and other advanced technologies.

Market Research Overview

The Biomaterials Market, as identified by Technavio, is a significant segment within the global healthcare equipment industry. This market encompasses the production and development of biopolymers, tissue engineering scaffolds, drug delivery systems, and biocompatible polymers. These advanced materials are integral to the fields of regenerative medicine and drug delivery systems. Technavio calculates the size of the global healthcare equipment market, which includes the Biomaterials Market, by aggregating the revenues of manufacturers producing diagnostic equipment and devices utilized across various therapy areas. The healthcare equipment sector encompasses devices, implants, accessories, and consumables, with the Devices segment including advanced, differentiated, and clinically tested data-driven devices.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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