Albany, New York (PRWEB) June 25, 2014
Biomaterials Market valued at USD 25,277.8 million in 2012 and is expected to grow at a CAGR of 4.1% from 2013 to 2019, to reach an estimated value of USD 33,600 million by 2019.
Biomaterials are either of synthetic or natural origin used in effective treatment of several diseases such as cardiovascular, dental problems, tissue damage, bone cancer, and orthopedic injuries. These biomaterials have a key requirement of being biocompatible; i.e., they should be physiologically acceptable and not provoke any immunogenic reaction in the human body. Biomaterials of significant importance which have been proven to be safe, reliable, and affordable include ceramics, metals, polymers and biomaterials derived from natural origin. Aging population across the globe is pushing demand for numerous medical implants and graft transplant procedures which will further propel the growth of biomaterials market. In addition, worldwide increase in life expectancy due to improved healthcare infrastructure has resulted in a high incidence of arthritis and osteoporosis. This continues to propel the medical implants market to alleviate increasing morbidity among geriatrics. Advancement in the medical technology has evolved the efficiency and functionality of medical implants and its procedures which in turn has been the major driver for growth of biomaterials market.
Browse the full Biomaterials Market for Implantable Devices Report: http://www.transparencymarketresearch.com/biomaterials-market.html.
The biomaterials market has been segmented on the basis of material types and further segmented on the basis of applications of these biomaterials in healthcare. In 2012, the metal as a biomaterial accounted for largest market share in the global biomaterials market, followed by rapidly growing polymer biomaterials segment. Polymers are estimated to grow with a fastest growth rate during the forecast period of 2013 to 2019 owing to the increasing applications into healthcare and its unique material properties such as flexibility, biocompatibility and durability.
Polymers are being used in a variety of implants such as percutaneous transluminal coronary angioplasty (PTCA) catheters, heart valves, contact lenses, intraocular lenses and for constructing rigid bases for dental prosthesis and dentures. Other applications in which polymers are used as biomaterials include urology and gastroenterology. In 2012, orthopedic applications commanded major share in the global biomaterials market due to increasing number of hip and knee replacement performed across all geographies and increasing usage in sports medicine. However, ophthalmic applications are expected to propel the growth of biopolymers in particular as children, adults and elderly population is considered susceptible to ophthalmic disorders.
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In developed nations like the United States, Canada, Germany, France, the U.K., Italy and Spain, the market is witnessing growth owing to high adoption rate of medical implant procedures compared to sluggish adoption in other parts of the world. North America is the largest market for biomaterials followed by Europe. As the baby boomer population enters their sixties, the incidences for eye disorders, dental issues, bone-related diseases and fractures are increasingly becoming common in the U.S. creating demand for biomaterials. The National Joint Registry reported that these replacement procedures are increasing and more than 7% rise was observed in 2012 as compared to the previous year.
North America and Europe are expected to maintain their leading positions in the global biomaterials market throughout the forecast period from 2013 to 2019. However, countries in the Asia-Pacific such as Japan, South Korea, China, India, and Taiwan are playing a key role in the growth of biomaterials market in the region. Increasingly, biomaterial manufacturers are finding stiff competition in established markets in developed countries which have compelled them to focus on the underserved emerging markets. This approach will drive the biomaterials market in the Asia-Pacific and Latin American countries in the coming years.
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The global biomaterials market for implantable devices is segmented as follows:
Biomaterials Market, by Material Type
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Browse the full Biomaterials Market for Implantable Devices Report at http://www.transparencymarketresearch.com/biomaterials-market.html.
Biomaterials Market, by Geography
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