Global Implantable Biomaterials market is accounted for $96.11 billion in 2017 and is expected to reach $195.47 billion by 2026 growing at a CAGR of 8.2%. Factors such as growing geriatric inhabitants worldwide, growing incidences of diseases and graft transplant surgeries, medical implants and technological advancements will drive the market growth. However, adverse reactions to biomaterials and strict regulatory requirements are some of the factors hampering the market growth.
A biomaterial is any substance of metallic, polymer, ceramic or natural origin that is suitable for introducing into living tissue as an implant without adversely affecting the patient. The selection of biomaterial is dependent on the application and properties of materials. Biomaterials are used to develop and manufacture implantable medical devices and grafts in many medical conditions.
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Based on application, orthopedic segment is projected to grow due to growing degenerative bone diseases like osteoporosis and osteoarthritis, rising demand for minimally invasive surgeries and increase in accidents and sports injuries are factors favouring the market growth. In terms of geography, North America holds the largest market revenue due to rise in new products and the development of new biomaterials for ophthalmology, tissue engineering, plastic surgery and wound healing are fuel the market growth in this region.
Some of the key players in the Implantable Biomaterials market include E. I. DU PONT DE NEMOURS AND COMPANY, BASF SE, 3M , Evonik Industries AG, AdvanSource Biomaterials Corporation, Royal DSM, Corbion Purac, Collagen Matrix, Inc., Celanese Corporation, Biomet, Inc., Invibio, Inc., Orthofix Holdings, Inc., Stryker Corporation, KLS martin and Medtronic, Arthrex, Aap Implantate AG, Zimmer Biomet Holdings, Inc. and CAM Bioceramics BV.
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