Worldwide Biomaterials Industry to 2027 – Top Players Analysis, Covid19 Reports, Business Development Strategies and Sales Revenue
Pune, Maharashtra, India, November 24 2020 (Wiredrelease) Allied Analytics –:The global biomaterials market is expected to reach $139 billion by 2027, from $62 billion in 2020, growing at a CAGR of 11.8% from 2020 to 2027. Metallic biomaterials segment is expected to contribute significantly to the global market revenue until 2027. North America held the leading position in the global market in 2015, and is expected to maintain its lead throughout the study period.
Drivers, restraints, and opportunities-
The biomaterials market has piqued the interest of healthcare providers, owing to the wide array of biomaterials such as metallic, polymeric, ceramic, and natural types for treating a wide range of conditions and other biotechnological applications. The major factors driving the market include increase in incidence of cardiovascular, neurological, dental, and orthopedic disorders, rise in geriatric population, high demand for implantable devices, and advancement in medical technology and innovations by key players. Increasing usage of implantable products and growing awareness of biomaterials application in emerging economies have fueled the growth of the biomaterials market.
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Biomaterials Market Research has offered exhaustive analysis of Manufacturers, Suppliers, Regions, Type and Application, Forecast to 2027. also provides essential study on the current status of the market, cover market size with respect to valuation as sales volume and providing a precise prediction of the market scenario over the forecast period from 2020 to 2027.
The report provides revenue forecast with sales, sales growth rate, and revenue growth rate forecasts of the global Biomaterials Market. The forecasts are also provided with respect to the product, application, and regional segments of the market. The forecasts are provided to understand the outlook and prospects for the market.
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Key Findings of the Biomaterials Market
In 2020, metallic biomaterials segment contributed significantly to the revenue of the global market, and is projected to maintain this trend during the forecast period.
Among biomaterials, polymeric biomaterial segment is projected to grow rapidly registering a CAGR of 13.0% from 2020 to 2027.
Tissue engineering is projected to be the fastest growing application segment of biomaterials market with CAGR of 35.6% during analysis period.
North America is the leading region in the global biomaterials market.
North America and Europe jointly contributed over three-fourths share of the overall revenue in 2020.
Asia-Pacific biomaterials market is expected to be the fastest growing region during study period.
Chinese biomaterials market is expected to grow at a significant CAGR of 18.5% from 2020 to 2027.
Metallic biomaterials segment contributed the highest revenue share to the global market, owing to highly used in orthopedic treatments for bone support and replacement, due to their strength and resistance to fatigue degradation. Polymeric biomaterials segment is projected to grow at a CAGR of 13.0% from 2016 to 2022, due to increasing demand for biodegradable products, and their use in various applications due their unique features such as flexibility, lightweight, remarkable biocompatibility, and physical & mechanical properties.
In 2015, North America accounted for significant revenue share in the global biomaterials market, and is expected to maintain this trend throughout the forecast period. This is attributed to increase in prevalence of chronic and degenerative diseases coupled with growth in geriatric population, advent of innovative technologies, heavy funding by government agencies for R&D activities, and growing need to improve quality of life in North America. However, Asia-Pacific is expected to be the fastest growing region throughout 2022, owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of cardiovascular, neurological & orthopedic disorders, increasing awareness about biomaterials advantages, and rising acceptance of advanced technologies in this region.
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The key players in this market have adopted product development & launch as their key strategies to cater to the changing needs of the industry. Furthermore, companies have collaborated with other key players to develop cost-effective and technologically efficient technologies to strengthen their market positions. The development of novel products with innovative technologies and acquisition of companies possessing innovative technologies are the top strategies adopted by leading players in the market. The key players profiled in this report include Royal DSM, Wright Medical Group N.V., Corbion N.V., Zimmer Biomet Holdings, Inc., Bayer AG, Carpenter Technology Corporation, Covalon Technologies Ltd., Evonik Industries AG, BASF SE, Victrex plc., and Collagen Matrix, Inc.
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