The global Biomaterials Market is expected to reach a size of USD 121.38 billion in 2021, with a projected revenue compound annual growth rate (CAGR) of 12.2% during the forecast period. Factors driving the growth of the market include increased funding and grants for the development of therapeutic biomaterials, rising application in surgical devices, the prevalence of cardiac issues, and growing research in regenerative medicine.
Market growth is anticipated to be strongly influenced by cosmetic surgery and tissue repair applications. In the field of regenerative medicine, novel biomaterials play a vital role, particularly in creating transplantable organs and organ models for drug development purposes. Biomaterials are crucial in the development of in vitro models and organoids that closely mimic human organs, aiding in accurate research and testing. Additionally, they are utilized in creating iPSC-derived Blood-brain barrier (BBB) organoid models to enhance drug selection based on their ability to penetrate the BBB, thus expediting the drug development process.
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Biomaterials are also being used to improve peripheral nerve and spinal cord injuries by creating scaffolds that mimic the extracellular matrix of nerve tissue and promote axonal regeneration. They can also carry healing agents to the site of damage. Severe facial injuries often require the use of implanted biomaterials and devices for repair. The discovery of broad-spectrum antibiotics, better understanding of bone and soft tissue healing, and the tolerance of well-vascularized face tissues to alloplastic materials contribute to the growth of the biomaterials market.
Key players in the Biomaterials Market:
- Covestro AG
- CRS Holdings, LLC
- Evonik Industries AG
- Victrex Plc
- Corbion
- AB Specialty Silicones
- Ceramtec GMBH
- Mitsubishi Chemical Holdings
- Olympus Terumo Biomaterial Corporation
- Gelita AG
Adipose tissue reconstruction plays a crucial role in treating facial soft tissue abnormalities caused by facial plastic surgery and trauma. Biomaterials such as hyaluronic acid (HA), collagen, and polymethyl methacrylate (PMMA) are commonly used implantable biomaterials in these procedures. Plastic surgery is on the rise globally, with breast augmentation, liposuction, and eyelid surgery being some of the most common procedures. The United States leads the world in the number of plastic surgery procedures, followed by Brazil and Germany. The increase in plastic surgeries drives the demand for biomaterials.
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In terms of market dynamics, the increasing research in regenerative medicine is a major driver of the biomaterials market. Biomaterials play a crucial role in tissue and organ replacement and the treatment of chronic illnesses. However, limitations such as poor biological identification on the material surface and the release of hazardous metallic ions and particles can hinder market growth. The COVID-19 pandemic has also impacted the market, delaying non-essential procedures and causing a temporary drop in sales. However, the industry is expected to recover as research into COVID-19 detection tests using biomaterials is projected to drive market growth.
The global biomaterials market is segmented based on type and application. Metallic biomaterials, polymeric biomaterials, ceramic biomaterials, and natural biomaterials are the main types of biomaterials. Metallic biomaterials include stainless steel, titanium alloys, cobalt-chrome alloys, gold, silver, and magnesium. Polymeric biomaterials include polymethylmethacrylate (PMMA), polyethylene, polyester, polyvinyl chloride, silicone rubber, and polyetheretherketone (PEEK). Ceramic biomaterials include calcium phosphate, zirconia, aluminum oxide, carbon, and glass. Natural biomaterials include collagen, gelatin, fibrin, cellulose, chitin, and silk. The use of PEEK is expected to grow steadily, while ceramic biomaterials are projected to have a moderate growth rate.
Applications of biomaterials include cardiovascular, orthopedic, ophthalmology, dental, plastic surgery, and tissue engineering. The plastic surgery segment is expected to grow rapidly, while cardiovascular applications are expected to have steady growth.
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