Polymer biomaterials market is poised to witness a high growth due to increasing demand of polymers in various applications. Polymers are applied extensively in implants, drug-delivery systems, surgical devices, ocular devices, supporting materials (artificial organs, prostheses, and sutures), and orthopedic applications. Furthermore, polymers play a vital role in gene therapy and stem cell research. According to the Centers for Disease Control and Prevention (CDC), the increase in the scope of biomaterials has initiated banking of stem cells. In addition, it was discovered in 2012 that polymer 2-methacryloyloxyethyl phosphorylcholine (MPC) offers huge potential for biomedical and life sciences applications. The polymer is used for coating cardiovascular applications such as cardiopulmonary bypasses, stents, and ventricular assist devices. Triggered by innovations and technological advancements, an upsurge in demand and consumption of polymer biomaterials is expected in the coming years. Moreover, growing number of elderly people across globe is another major factor propelling the growth of the market. These people are main consumers of various polymer based medical devices such as cardiovascular implants, fracture-fixation devices, skin substitutes, surgical hemostats, dental implants, contact lenses, and synthetic corneas amongst others. With rising number of elderly population the market will also grow further.
The global polymer biomaterial market is segmented on the basis of type, applications and geography. The market by type is further categorized into nylon, silicone rubber, polyester, polyethylene, polymethylmethacrylate (PMMA), and polyvinylchloride (PVC). Based on application, the market is categorized into cardiovascular, ophthalmology, dental, plastic surgery, wound healing, tissue engineering, orthopedics, and neurological disorders/central nervous system. The cardiovascular application is further sub divided into stents, pacemakers, implantable cardiac defibrillators, heat valves, and vascular grafts. The ophthalmology application is categorized into intraocular lens, contact lens, and functional replacement of ocular tissue while the plastic surgery application is further segmented into soft tissue fillers and peripheral nerve repair. Furthermore, the wound healing application is divided into fracture fixation devices, surgical hemostats, and internal tissue sealant. The tissue engineering application includes Scaffolds for Regenerative Medicine and the orthopedic application includes joint replacement biomaterial, bioreabsorbable tissue fixation products, and spine biomaterial. Based on geography, the market is divided into North America, Europe, Asia, and Rest of the World (RoW: Pacific countries, Africa, and Latin America).
The polymer biomaterials market by type is dominated by polymethylmethacrylate (PMMA) in 2012. The high share of this market is attributed to the usage of PMMA in various medical applications such as orthopedics, dental, ophthalmology, and others. In dental industry, PMMA beads are used primarily for fabrication of prostheses such as artificial teeth and dentures, whereas in orthopedics these are used in bone cement during joint reconstruction procedures.
The North America is the polymer biomaterials market largest in the world, and is slated to grow further due to augmented healthcare spending and increased reimbursement rates in this region. However, the Asian countries are slated to register the highest growth owing to collaboration between Asian and European countries, increasing research in the region, raising awareness of cardiovascular, orthopedic, and dental diseases and available biomaterial options for these indications, and growing number of elderly persons.
Some of the major players in the global polymers biomaterial market include Bayer AG (Germany), BASF SE (Germany), DSM Biomedical, Inc. (The Netherlands), Evonik Industries AG (Germany), Purac Biomaterials (The Netherlands), Ticona GmbH (Germany), Invibo Ltd (U.K.), Covalon Technologies (Canada), Osteotech, Inc. (U.S.), and Starch Medical, Inc. (U.S.) amongst others.
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