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Global Biomaterials Market (2010-2015)

 

By: marketsandmarkets.com
Publishing Date: May 2011
Report Code: BT 1608

 




Biomaterials have been in use for long in the human body to improve body functions and replace damaged tissues. These biodegradable biomaterials have evolved from biomaterials that do not react with the environment and easily dissolve in the body. Advances in technology and the emergence of innovative biomaterial products have enhanced the performance and applications of these biomaterials. Metals and ceramics dominate the biomaterials market. The global market for biomaterials is expected to reach $64.7 billion in 2015 from $25.6 billion in 2008 with a CAGR of 15% from 2010 to 2015.

Biomaterial market holds significant opportunity for innovators; an extensive research is required to develop new and improved products at competitive prices. With increase in the percentage of aging population worldwide, the number of individuals suffering from physical disability is also increasing. Baby boomers born between 1946 and 1964 are the major consumers of the biomaterial products. Besides, more than 20% of the global population in 2050 is expected to be over 60 years and this segment (of the population) will be significantly high in developing countries. This increase in the aging population will drive the demand for biomaterial products.

Biomaterial products are expensive; and an improvement in performance would justify the higher pricing and also boost the market size. The U.S. government is expected to spend more in the medical care sector; which, in turn, could boost the market for biomaterials; provided the economy revives. Technological advancements in the orthopedic and prosthetic applications have increased the demand for surgical appliances that uses biomaterials. With the increase in healthcare spending, the demand for surgical appliances also increases, which indirectly impacts the demand for biomaterials in surgical appliances.

The orthopedic reconstructive market relates to products that can be used as replacement for natural bones and joints. In 2009, the orthopedic reconstructive biomaterial market contributed 31.8% to the global orthopedic biomaterial market. This market is categorized into artificial knee, artificial hip, and other reconstructive products. The artificial knee segment dominated the market with a 50.4% share.

Markets covered

This research report categorizes the biomaterials market into the following:

  • Biomaterial market, by products: Orthopedic, cardiovascular, wound care, gastrointestinal, urological, plastic surgery, and others
  • Biomaterial market, by materials: Metals, polymers, ceramics, and composites
  • Biomaterial market, by application: General surgery, surgical appliances and supplies, surgical and medical instruments, dental products, electro medical equipment and other applications

The report provides market estimates and forecasts for the global biomaterial market. In addition to market sizing and forecasts, the report offers a detailed analysis of the market trends, opportunities, and the factors influencing the growth of each segment of the biomaterials market. The report also draws a competitive landscape, analyzing core competencies of major players and strategies adopted to expand their market presence.

Stakeholders

The targeted audience for this report includes:

  • Pharmaceutical and biotech companies
  • Medical devices manufacturers
  • Pharma-research labs
  • Doctors, physicians and hospitals
  • Medical/Pharma associations
  • Retailers and super-retailers
  • Technology providers
  • Research and development (R&D) companies

Research Methodology

Secondary research is carried out using proprietary databases (both paid and public), company websites, and news articles. The primary research involves interviews with specialists, CEO’s, managers, and directors working with major market players (key industry players), and subject matter experts from research institutes. Data and analytic output from secondary research such as markets drivers, restraints, growth opportunities, market forecasts, and others have been validated with primary research. Market size of the segments was calculated using the bottom-up approach and figures thus derived were added to yield the biomaterial market revenues, while each year’s forecast is based on the analysis of industry trends.

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