Biocompatible Materials: A Global Strategic Business Report
San Jose, California (PRWEB) February 29, 2012
Follow us on LinkedIn – The Biocompatible Materials sector is typified by the large-scale research and development for the synthesis of cutting edge products and technologies in the field of acute disease diagnosis and treatment. The industry offers a plethora of opportunities for the development of advanced biocompatible products in the global therapeutic arena. The Biocompatible Materials sector is projected to grow significantly propelled by the increasing deployment of biocompatible materials, and the industry is largely expected to develop into the focal point of materials research worldwide. Medical needs span across the entire spectrum, from bone defects to soft tissue reconstruction, which demands various types of biocompatible materials. Degradable implants that provide support during the healing process have captured significant share of the market for replacement joints or other parts of the body. Demand is also on the rise for safer implants made up of synthetic materials that minimize the risk of disease transmission. Approximately 70% of the market for orthopedic biomaterials is accounted for by bone replacements.
The developed markets, such as the US and Europe, represent the largest markets for biomaterials worldwide. The highest number of patents is registered in the US, followed by Europe. However going forward, growth is expected to emanate from emerging markets such as Brazil, Russia, India, China, and Japan. Material wise, Polymeric Biomaterials dominates the global market for biocompatible materials. Future growth in the market, however, is expected to be propelled primarily by natural biomaterials, including collagen, and hyaluronic acid-based biomaterials. Global demand for Metallic Biomaterials is projected to post a compounded annual growth rate of close to 10% during the analysis period.
Natural polymers that include Collagen and Hyaluronic Acid represent the fastest growing sector due to the increasing use in drug delivery systems, tissue engineering, pharmaceutical excipients, cosmetic implants, and wound dressings. Among metals, Titanium is a lucrative growth sector primarily due to its low modulus, high strength, and strong body fluid resistance properties. Precious metals have potential applications in dental implants, trauma fixation devices, cochlear implant houses, mechanical heart valves, joint replacement systems, fusion cages, pacemaker and defibrillator cases and stents. Titanium and its alloys are likely to challenge other popular metals, such as stainless steel, chromium alloys, and cobalt.
Natural substances, such as human or animal tissues, are being increasingly employed in the development of novel biocompatible materials for use in various surgical interventions. Fast-paced advancements in tissue processing technologies have provided considerable thrust to the use of natural substances in the treatment of several chronic ailments, including organ failure or malfunction. Natural substances are combined with synthetic materials to develop innovative hybrid products that incorporate biocompatible properties of both materials. A key application of such materials is in surgical procedures, using “autografts” technique. Natural materials provide an effective potential alternative to surgeons against autografts which are a time-consuming process. These materials can be directly used as substitute for damaged bones or tissues, enabling substantial reduction in surgery time, and enhancing the patient’s recovery process.
Rapid development of tissue engineering as a prime technology in research sciences is largely anticipated to shape the future of biocompatible materials market in the coming years. In addition, other factors to reckon with include advancements in biocompatibility science, expanding area of coating technology, and the development of novel synthetic materials for medical applications.
Major players profiled in the report include A.P. Pharma Inc., Angiotech Pharmaceuticals Inc., Artimplant AB, AST Products Inc., Biocoat Inc., Dentsply International Inc., Invibio, Integra LifeSciences Holdings Corp., SaluMedica LLC, SurModics Inc., Synthes Inc., United States Surgical, among others.
The research report titled “Biocompatible Materials: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the biocompatible materials markets, current market trends, key growth drivers, product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for biocompatible materials for the years 2009 through 2017 for the following geographic markets – North America, Japan, Europe, and Rest of World. Key material type analyzed includes Polymeric Materials, Metallic Materials, Natural Materials, and Other Materials. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.
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Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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