Global Biomaterials Market Insights Forecasts to 2033

• The Global Biomaterials Market Size was Valued at USD 145.5 Billion in 2023
• The Market Size is Growing at a CAGR of 13.77% from 2023 to 2033
• The Worldwide Biomaterials Market Size is Expected to Reach USD 528.5 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Biomaterials Market Size is Anticipated to Exceed USD 528.5 Billion by 2033, Growing at a CAGR of 13.77% from 2023 to 2033.

Market Overview

Biomaterials are synthetic or natural materials artificially created and utilized in medical technology to enhance the function of damaged tissues and organs. It augments, replaces, or sustains damaged tissue or biological functions, having widespread medical applications such as medical implants, including heart valves, stents, and grafts; artificial joints, ligaments, and tendons; hearing loss implants; dental implants; and devices that stimulate nerves. The success of using biomaterials is increasing because of improved surgical skills and an improved understanding of body interaction with biomaterial-based devices. The thermal conductivity and mechanical properties of metals are the significant reasons behind the usage of metallic biomaterials as internal support in biological tissues in dental implants, joint replacements, orthopedic fixations, and stents. Thus, biocompatibility and resilience have emerged as a preferred choice among manufacturers and healthcare professionals. Additionally, biomaterials play a pivotal role in the fabrication of stents, pacemakers, and other implantable devices that are integral to the treatment and management of cardiovascular disorders. Hydrogels, nanofibers, composite, foam, spongy, bilayered, and trilayered scaffolds are the various biomaterials used to mediate chronic wound healing to enhance wound healing and minimize the risk of infections by providing a conducive environment for tissue regeneration and promoting faster healing. The rising number of research activities, growing number of free-trade agreements, and ongoing clinical trials are leveraging lucrative market opportunities for biomaterials. The increasing funding and investments for the development of precision biomaterials with the growing emphasis on regenerative and personalized cell therapies are upsurging the growth.  

Report Coverage

This research report categorizes the market for the biomaterials market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global biomaterials market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the biomaterials market.

Driving Factors

The increasing demand for biomaterials in plastic surgery and wound healing applications surging the market growth. The increased funds and grants from government bodies and universities for the development of novel biomaterials are all major factors driving the market growth of biomaterials. The injectable biomaterials are used for decreasing left ventricular dilation, increasing angiogenesis, and preserving cardiac function as they exhibit great potential to repair and regenerate. Thus, the growing prevalence of cardiovascular diseases (CVDs) fueling the market growth for biomaterials. The increasing prevalence of orthopedic replacements, arthritis, and sports injuries as well as chronic health conditions are surging the demand for biomaterial-based implantable devices as they posses extended functionality of essential body systems. The increasing use of biomaterials in various therapeutic areas such as wound healing and plastic surgery and significant increase in the adoption of biomaterials, and efficacy in promoting enhanced healing processes and reducing infection rates are further augmenting global biomaterials market.

Restraining Factors

The stringent clinical and regulatory processes for the approval of biomaterials used in medical devices such as implantables, pacemakers, stents, and cardiac valves with the highest developing risk of injury and illness are restraining the market growth.

Market Segmentation

The global biomaterials market share is classified into type and application.

• The metallic biomaterial segment is expected to hold the largest share of the global biomaterials market during the forecast period.   

Based on the type, the biomaterials market is categorized into natural biomaterial, metallic biomaterial, ceramic biomaterial, and polymeric biomaterial. Among these, the metallic biomaterial segment is expected to hold the largest share of the global biomaterials market during the forecast period. Metallic biomaterials are the most commonly utilized material for joint replacements, dental implants, stents, and orthopedic fixations as they are meant to provide internal support to biological tissues. The increased adoption of metallic biomaterials owing to the benefit of mechanical qualities, including rigidity, which makes them suited for load-bearing implants aid in segmental growth.

• The cardiovascular segment is projected to hold the largest share of the global biomaterials market during the forecast period.   

Based on the application, the global biomaterials market is categorized into neurology, cardiovascular, orthopedics, ophthalmology, wound care, dental, plastic surgery, and others. Among these, the cardiovascular segment is projected to hold the largest share of the global biomaterials market during the forecast period. The specialized biomaterials including biocompatible metals and polymers ensure minimal adverse reactions and facilitate the restoration of cardiovascular health. The increasing prevalence of cardiovascular diseases and the emerging trend towards biodegradable cardiovascular biomaterials which reflect the shift to sustainable solutions and minimally invasive approaches are upsurging the market growth.

Regional Segment Analysis of the Global Biomaterials Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global biomaterials market over the predicted timeframe.

North America is projected to hold the largest share of the global biomaterials market over the forecast period. The growing preference for plastic surgery owing to increasing beauty consciousness in the region drives the market growth. Further, increasing demand for effective treatment or diagnostic procedures in the medical sectors along with the increasing incidence of chronic diseases and other infectious diseases are anticipated to drive the market. Further, the growing emphasis on introducing innovative products with the latest technology and ensuring better treatment procedures upsurges the market growth in the region.

Asia Pacific is expected to grow at the fastest CAGR growth of the global biomaterials market during the forecast period. The increasing number of patients suffering from CVDs and other chronic diseases, acceptance of implanted devices, awareness about CVDs, and advancement in healthcare infrastructure are driving the biomaterials market. The rising prevalence of chronic conditions like diabetes, CVDs, and arthritis along with the growing aging population in the region are driving the market demand. Additionally, government grants and investments, innovative technologies such as hydrogen scaffolding, and decellularized dermal matrixes for grafting are driving regional market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global biomaterials market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Berkeley Advanced Biomaterials
• Carpenter Technology Corporation
• Covalon Technologies Ltd.
• Stryker Corporation
• Evonik Industries
• Johnson & Johnson
• Corbion
• Medtronic
• Zimmer Biomet Holdings, Inc.
• Invibio Ltd.
• Dentsply Sirona
• CoorsTek Inc.
• Corbion
• Regenity Biosciences
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2023, Biomaterials startup altM has raised $3.5 million in seed funding led by Omnivore. altM aims to develop scalable biomaterials to help large industries. The startup is known for using agricultural residues for production to reduce carbon footprints.

• In September 2023, the University of Birmingham Enterprise announced the launch of the Birmingham Dental and Biomaterials Testing Service (BiMaTs), to provide consultancy and a comprehensive materials testing service for dental and biomaterial manufacturers.

• In June 2023, IFF announced the launch of its new-to-the-world Designed Enzymatic Biomaterials (DEB) technology for the development of biobased materials at scale. Designed to deliver meaningful sustainability benefits with performance comparable or superior to fossil-based materials – DEB technology helps to address growing preferences for environmentally friendly, high-performance biopolymers.

• In February 2023, Covestro, a leading producer of advanced polymers and high-performance plastics in the United States and around the world, developed Makrolon 3638 polycarbonate. Polycarbonates from Covestro are found in some of modern technology’s most essential medical devices and play a major role in the development of next-generation, life-saving technology.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global biomaterials market based on the below-mentioned segments: 

Global Biomaterials Market, By Type

• Natural Biomaterial
• Metallic Biomaterial
• Ceramic Biomaterial
• Polymeric Biomaterial

Global Biomaterials Market, By Application

• Neurology
• Cardiovascular
• Orthopedics
• Ophthalmology
• Wound Care
• Dental
• Plastic Surgery
• Others

Global Biomaterials Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa