Biomaterials Market - Global Industry Analysis and Forecast to 2020
Biomaterials are combination of substances, synthetic or naturally derived, used in medical applications such as replacement of tissue and organ transplantation. Majority of biomaterials used in humans are synthetic polymer, as it minimizes the threat of disease transmission. Biomaterial minimizes debris generation and its biocompatible chemical composition, avoids adverse tissue reaction. Biomaterials assist to replace damaged tissue and improve body functions. Biomaterials are used for aesthetic and medical conditions. Damaged physically soft and hard tissues, due to pathological conditions are replaced with biomaterials, to increase the life expectancy of a patient. Biomaterials are effectively used for the treatment of tissue damage, dental problems, cardiovascular and orthopedic injuries, and bone cancer. The range of applications for biomaterials are immense; it includes ocular lenses, dentures, artificial skin, vascular grafts, artificial hip joints and substitute heart valves.
North America and the Europe dominates the global market of biomaterials due to increasing prevalence of aging population, reimbursements offered by insurance companies and high adoption rate of medical implants. In addition, rising government investments on biomaterial sector is also driving the growth of biomaterials market in North America. Asia is expected to show high growth rates in the next five years in global biomaterials market. Some of the factors driving the growth of biomaterials market in emerging countries are increasing awareness about biomaterials products and growing number of elderly patients.
In recent times there is increased use of biomaterials due to tremendous research on technology advancements in medical technology for efficient functionality of medical implants. Increased government grants, investment and funding, and increasing usage of polymer in biomaterials are some of the factors driving the growth for global biomaterials market. In addition, due to increasing number of geriatric patients, the demand for usage of biomaterials in cardiology, wound healing, neurology and plastic surgery is also increasing. However, adverse reaction to biomaterials, strict regulatory requirements, and inflammation and fracture issues are some of the factors restraining the growth for global biomaterials market.
Emergence of new and innovative biomaterials in plastic surgery, neurology, ophthalmology, tissue engineering and wound healing is a key opportunity for biomaterials market. However, high R&D cost, challenges in tissue engineering and strict regulatory requirements are some of the challenges for global biomaterials market. Some of the major companies operating in the global biomaterials market are Wright Medical Group, Inc., DePuy Orthopaedics, Inc., Invibio Ltd., Osteotech, Inc., Biomet, Inc., Berkeley Advanced Biomaterials, Inc., Depuy Orthopaedics, Inc., Evonik Industries AG, Exactech Inc., Orthovita, Inc., Collagen Matrix Inc. and Morgan Tecxhnical Ceramics.
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Key points covered in the report
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation North America Europe Asia RoW
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.-
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