Biomaterials Market 2022 | Asia-Pacific is expected to experience the growth rate of 14.1%
Biomaterials Market by Type (Metallic, Polymeric, Ceramic, and Natural) and Application, (Cardiovascular, Dental, Orthopedic, Wound Healing, Plastic Surgery, Ophthalmology, Tissue Engineering, Neurological Disorders, and Drug Delivery Systems): Global Opportunity Analysis and Industry Forecast, 2021-2030
According to a new report published by Allied Market Research, titled, "Biomaterials Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030," the global biomaterials market size was valued at $64.87 billion in 2020 and is projected to reach $212.40 billion by 2030, registering a CAGR of 12.7% from 2021 to 2030.
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The COVID-19 virus causes illness ranging from common cold to more severe respiratory diseases. The revenue of global biomaterials market also declined in 2020 due to the global economic recession led by the COVID-19 pandemic. For instance, orthopedics implant surgeries and non-essential dental procedures, have been delayed due to the COVID-19 pandemic, which also decreases the demand for biomaterials. Thus, the outbreak of COVID-19 has negatively impacted the biomaterials market.
The biomaterials market is segmented on the basis of type, application, and region. By type, it is bifurcated into metallic, polymeric, ceramic, and natural. Metallic biomaterials are segmented into stainless steel, titanium & titanium alloys, cobalt-chrome alloys, gold, and silver. Polymeric biomaterials are divided into polymethyl methacrylate (PMMA), polyethylene, polyester, polyvinylchloride, silicone rubber, nylon. Ceramic biomaterials are segmented into calcium phosphate, zirconia, aluminum oxide, calcium sulfate, carbon, and glass. Natural biomaterials comprise hyaluronic acid, collagen & gelatin, fibrin, cellulose, chitin, alginates, and silk. The metallic segment was the major shareholder in 2020, owing to their high specific strength, high corrosion resistance, and low modulus. In addition, they are highly used in orthopedics, dental, cardiovascular, and neurological permanent and bioresorbable implants, which drive growth of the segment.
Key Market Segments
BY TYPE
Metallic
.Stainless Steel
Titanium and Titanium Alloys
Cobalt-Chrome Alloys
Gold
Silver
Polymeric
Polymethylmethacrylate
Polyethylene
Polyester
Polyvinylchloride
Silicone Rubber
Nylon
Ceramic
Zirconia
Aluminum Oxide
Calcium Sulfate
Carbon
Glass
Natural
Hyaluronic Acid
Collagen and Gelatin
Fibrin
Cellulose
Chitin
Alginates
Silk
BY APPLICATION
Cardiovascular
Dental
Orthopedic
Wound Healing
Plastic Surgery
Ophthalmology
Neurological Disorder
Drug Delivery System
Key Findings Of Study
On the basis of type, the metallic segment held largest share in the global market in 2020.
On the basis of application, the orthopedic segment dominates the global biomaterials market in 2020 and is anticipated to continue this trend during the forecast period.
On the basis of region, North America is expected to experience growth at the highest rate, registering a CAGR of 12.5% during the forecast period.
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