Biomaterials Market To Hit 16% CAGR: Forecast Showing $US 149.17 Billion By 2021

The biomaterials market is projected to reach 149.17 billion by 2021 million from 70.90 billion in 2016, at a CAGR of 16.0% driven by rising incidence of cardiovascular diseases while plastic surgery segment is expected to grow at the highest CAGR.

Factors such as increasing funds and grants by governments worldwide, rising incidence of cardiovascular diseases, technological advancements, the growing implantable devices market, globally rising cases of hip and knee replacement procedures, rising awareness of tissue engineering, and high growth in geriatric population are driving the growth of the market. On the other hand, stringent clinical and regulatory processes and unfavorable healthcare reforms in the U.S., is expected to restrain the growth of the market.

Complete report on global biomaterials market spread across 297 pages, profiling 10 companies and supported with 170 tables and 66 figures is now available at .

The demand for biodegradable polymers has increased, owing to its superior biocompatibility and ability to slowly degrade inside the body, thus eliminating the need for removal. Superior physicochemical & biocompatible properties and the increasing application areas of polymeric materials are likely to boost the growth of the market. However, polymers are costly, which can hinder the growth of this market. A biomaterial is a natural or synthetic material suited to replace or treat natural body tissues and organs on interaction with biological systems.

The plastic surgery segment is expected to grow at the highest CAGR during forecast period, due to growing number of elderly people, positive public perception towards cosmetic surgeries, and technological advances are factors increasing the demand for plastic surgeries. In 2016, the cardiovascular segment is expected to account for the largest share of the market, due to factors such as increasing prevalence of cardiovascular diseases, increasing angiography procedures, and growing usage of cardiac stents that are considered a safe option for coronary angioplasty treatment.

In 2016, North America is expected to account for the largest share of the global biomaterial market, followed by Europe, Asia-Pacific and RoW. Rising biomaterial-based research, increasing demand for plastic surgeries, increasing conferences on biomaterials, growing cancer incidence, and the rising prevalence of cardiovascular diseases are expected to drive market growth in this region. In the coming years, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to factors such as increasing Japan’s growing healthcare industry, increasing aging population, and high incidence of cardiovascular diseases in India and China.

Some major players in the global biomaterials market include Royal DSM (Netherlands), BASF SE (Germany), Corbion N.V. (Netherlands), Covestro (Germany), Invibio Ltd. (U.K.), Carpenter Technology Corporation (U.S.), Evonik Industries AG (Germany), Berkeley Advanced Biomaterials, Inc. (U.S.), CAM Bioceramics BV (Netherlands), and Celanese Corporation (U.S.).

Request a sample copy of Biomaterials Market by Type of Materials (Metallic, Ceramic, Polymers, Natural) & Application (Cardiovascular, Orthopedic, Dental, Plastic Surgery, Wound Healing, Neurology, Tissue Engineering, Ophthalmology) - Global Forecast to 2021 research report at .

The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (agreements, partnerships, joint ventures, collaborations, expansions, new product launches, and acquisitions) to increase their market shares and establish a strong foothold in the global biomaterials market.

In-depth interviews were conducted with CEOs, sales and marketing directors, other innovation and technology directors, and executives from various key organizations operating in the biomaterials market.

> By Company Type: Tier 1: 34%, Tier 2: 38%, Tier 3: 28%

> By Designation: Director-level: 31%, C-level: 35%, others: 34%

> By Region: North America: 28%, Europe: 31%, APAC: 24%, RoW: 17%

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