Biomaterials Market Forecast Covering Growth Inclinations & Development Strategies until By 2027

The global biomaterials market is anticipated to be worth USD 348.4 billion by 2027, progressing at a significant CAGR of 15.9% during this period, according to a recent report by Grand View Research. The field of biomaterials has been around for more than 50 years, with these substances being tailored to interact with biological systems for therapeutic or diagnostic purposes. Both large as well as small organizations in this space are churning out new products at a healthy pace, thus accounting for positive growth of the biomaterials market.

Some of the major advantages that biomaterials offer include biocompatibility, low toxicity and renewability, thus making them ideal drug delivery agents, which is expected to drive market growth for biomaterials. Continued R&D with regards to improving bioactivity, compatibility, and mechanical properties of biomaterials has increased their scope. Moreover, the advent of 3D printing and additive manufacturing is also expected to influence the market positively, on account of their use in the manufacture of porous metallic and ceramic implants, which have gained high recognition in the past few years. Additionally, the importance of ‘smart biomaterials’ in the process of tissue engineering is another factor driving market growth.

The growing geriatric population across the globe has led to increased prevalence of osteoarthritis, osteoporosis, and other musculoskeletal disorders, thus causing high demand for orthopedic implants. The continued rise in incidences of CVD globally has led to continuous large-scale production of pacemakers, defibrillators and stents, among other similar devices, which require the presence of biomaterials. As of 2019, estimates from various sources list the number of individuals with implantable pacemakers in the US to be in the range of 0.5-3 million.

The dental field is another key application area for biomaterials. The products include tissue regeneration materials, dental implants, bone grafts and substitutes, and dental membranes, among others. A survey by the American Association of Oral and Maxillofacial Surgeons in the U.S. stated that approximately 0.5 million people undergo dental implant procedures each year. Metals like Titanium and Zirconia are hugely popular in this space. Biomaterials also find application in wound healing procedures. In the process of wound healing and other regenerative applications, biomaterials have been found to be useful for the delivery of growth factors and cytokines to wounds. Further R&D in this space by organizations is expected to drive the biomaterials market further.

Biomaterials have become a necessity in a number of applications such as orthopedic, plastic surgery and tissue engineering. A study presented in 2018 at the meeting of American Academy of Orthopedic Surgeons stated that joint replacement procedures have become the most common elective surgeries in the US, with the highest incidences being of total knee and hip replacements. Viscosupplementation is another key application area of biomaterials in the realm of orthopedic procedures. With regards to the field of plastic surgery, the presence of biomaterials has led to an increase in the availability of commercial products in the past few years. Applications in plastic surgery for biomaterials include soft tissue fillers, bioengineered skins, acellular dermal matrices, biomaterials for craniofacial surgery, and peripheral nerve repair.

Based on product, the biomaterials market has been segmented into metallic, natural, ceramics and polymers. The polymer biomaterials segment led the market in 2019, and is expected to continue its dominance through 2027, on account of the wide availability of biopolymers and advanced polymers for bio-resorbable tissue fixation and other orthopedic applications. Natural biomaterials are expected to show significant growth during the forecast period, on account of their benefits over synthetic ones with regards to biodegradability, biocompatibility, and remodeling. Metallic biomaterials are also witnessing healthy use, and more so in the dental space.

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Region-wise, North America leads the biomaterials market on account of favorable government policies, presence of major market players in the region, as well as initiatives undertaken by a number of public and private organizations, such as the National Science Foundation and the National Institute of Standards and Technology. The Asia Pacific region, on the other hand, is anticipated to advance at the highest CAGR during the forecast period, with regional players undergoing strategic expansions at the global level through various mergers and partnerships with global players.

Recent Trends and Developments

• With the current global spread of the COVID-19 pandemic, tissue engineering, which is an important application area of biomaterials, has been viewed upon as a combatant to the disease, according to an article from Alexander Tatara, of the Massachusetts General Hospital, Boston. This includes 3 key areas, which are: 
• in vitro models of viral disease to better understand the mechanism of infection and to screen for potential therapeutics; 
• drug delivery systems to better target medications and increase their bioavailability; and 
• vaccine platforms, using biomaterials for vaccine delivery and to boost the immune response to the vaccine. 

• In May 2020, Evonik announced the successful commissioning of an advanced biomaterials facility in Birmingham, Alabama in order to cope with the growing market demand for their RESOMER® bioresorbable polymers with parenteral drug products and implantable medical devices. The facility is 2800 square meters in size, and would be assisted by an adjoining facility to enable Evonik in providing an integrated range of biomaterial services. 

• In September 2019, Omnia Medical received FDA clearance for a cervical vertebral body replacement system manufactured from PEEK-OPTIMA HA enhanced polymer from Invibio Biomaterial Solutions. Omnia’s Boxcar system has been designed for use in cervical-corpectomy procedures. 

• In September 2019, Zimmer Biomet started the commercial release of the Persona® Revision Knee System for revision knee replacement procedures, after receiving FDA approval for the same. The system makes use of Zimmer Biomet's proprietary technologies, including Zimmer Biomet's Trabecular Metal™ Technology and Vivacit-E® Highly Crosslinked Polyethylene (HXPE). Moreover, the system offers anatomic components designed to match a patient's anatomy for a personalized fit.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.