Biomaterials Market worth USD 149.17 Billion by 2021
The report “ 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 ”, analyzes and studies the major market drivers , restraints / challenges , and opportunities .
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This report studies the global biomaterials market for the forecast period of 2016 to 2021 . This market is expected to reach USD 149.17 Billion by 2021 from USD 70.90 Billion in 2016 , at a CAGR of 16.0 % from 2016 to 2021 . 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 .
The global biomaterials market is segmented on the basis of type of material , application , and region .
On the basis of type of material , the biomaterials market is categorized into metallic , ceramic , polymeric , and natural biomaterials . The metallic segment is further categorized into stainless steel , titanium & titanium alloys , cobalt-chrome alloys , silver , gold , and magnesium . The ceramic segment is further divided into aluminum oxide , zirconia , calcium phosphate , calcium sulphate , carbon , and glass . The polymers segment is further segmented into polymethylmethacrylate ( PMMA ), polyethylene , polyester , polyvinyl chloride , silicone rubber , nylon , polyetheretherketone ( PEEK ), poly lactic acid , poly glycolic acid & PLGA , and other polymeric biomaterials . The natural biomaterials market is further segmented into hyaluronic acid , collagen , gelatin , fibrin , cellulose , chitin , alginate , and silk . In 2016 , the metallic segment is estimated to command the largest share of the market , by type of material . The polymeric biomaterials segment is projected to grow at the highest CAGR during the forecast period , owing to the increasing use of polymers in soft tissue applications such as plastic surgeries .
On the basis of application , the market is segmented into cardiovascular , orthopedic , dental , plastic surgery , wound healing , tissue engineering , ophthalmology , neurological / central nervous system , and other applications which include drug delivery systems , gastrointestinal applications , bariatric surgery , and urinary applications . In 2016 , the cardiovascular segment is expected to account for the largest share of the biomaterials market . This can be attributed to rising prevalence of cardiovascular diseases worldwide . However , the plastic surgery segment is projected to grow at the highest CAGR from 2016 to 2021 . Preference for minimally invasive cosmetic surgeries and positive public perception for these surgeries are significant factors that are expected to drive market growth in this segment .
On the basis of region , the biomaterial market is divided into North America , Europe , Asia-Pacific , and the Rest of the World ( Latin America , the Middle East , and Africa ). In 2016 , North America is projected to account for the largest share of the global biomaterials market , followed by Europe and Asia-Pacific . However , the Asia-Pacific market is slated to grow at the highest CAGR during the forecast period and serve as a revenue pocket for companies offering biomaterials .