The polymeric biomaterials global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Polymeric Biomaterials Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The polymeric biomaterials market size has grown rapidly in recent years. It will grow from $50.97 billion in 2023 to $59.69 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to increased demand for medical implants, enhanced biocompatibility, the rise of tissue engineering, increased orthopedic surgeries, and increased drug delivery systems.
The polymeric biomaterials market size is expected to see rapid growth in the next few years. It will grow to $113.07 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to regenerative medicine, personalized medicine, environmental concerns, 3D printing, chronic disease management, and minimally invasive surgery. Major trends in the forecast period include advancements in polymer chemistry, biomedical engineering innovations, regulatory approvals, technological integration, and academic research.
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Scope Of Polymeric Biomaterials MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Polymeric Biomaterials Market Overview
Market Drivers -The growing prevalence of chronic diseases is expected to propel the growth of the polymeric biomaterials market going forward. Chronic diseases refer to long-lasting conditions that generally progress slowly and persist over a long period of time, often for the rest of a person’s life. The increasing prevalence of chronic diseases is due to several factors, such as the aging population, lifestyle factors, economic burden, healthcare demand, and public health challenges. Polymeric biomaterials are used in treating chronic diseases by offering innovative solutions that enhance the effectiveness of medical treatments and contribute to the overall quality of life for individuals with chronic conditions. They are also used in the development of various medical devices and implants, including stents, catheters, and joint replacements., which are essential for managing chronic diseases that require surgical intervention. For instance, in September 2023, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, each year there are 41 million deaths worldwide, accounting for 74% of all fatalities attributed to chronic diseases. This includes 17.9 million deaths from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. Therefore, the growing prevalence of chronic diseases is driving the growth of the polymeric biomaterials market.
Market Trends – Major companies operating in the polymeric biomaterials market are focusing on developing innovative solutions, such as 3D printable biomaterials, to gain a competitive advantage. 3D printable biomaterials refer to a class of materials that can be used in three-dimensional (3D) printing technologies to create structures and devices for medical applications. For instance, in March 2022, Evonik Industries AG, a Germany-based chemical company, launched the VESTAKEEP iC4800 3DF, a new osteoconductive PEEK filament that improves fusion between bone and implants. It is a high-performance polymeric biomaterial designed for applications in 3D-printed medical implants due to its biocompatibility and properties that promote bone growth. VESTAKEEP iC4800 3DF is an innovative osteoconductive PEEK filament that enables the 3D printing of patient-specific implants with improved bone fusion, accelerating healing and recovery to improve implant integration, accelerate patient recovery, enable customized implant designs, and expand Evonik’s portfolio of 3D printable biomaterials for medical applications.
The polymeric biomaterials market covered in this report is segmented –
1) By Product: Polylactic Acid, Polyglycolic Acid, Polyurethanes, Polytetrafluoroethylene, Polyaryletheretherketone, Polydioxanone, Other Products
2) By Application: Cardiovascular, Dental, Orthopedic, Plastic Surgery, Neurology, Other Applications
3) By End-User: Hospitals, Clinics, Other End-users
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Regional Insights – North America was the largest region in the polymeric biomaterials market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polymeric biomaterials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies – Major companies operating in the polymeric biomaterials market are BASF SE, 3M Company, Medtronic plc, Toray Industries Inc., Evonik Industries AG, Covestro AG, Stryker Corporation, Solvay SA, DuPont Biomaterials, Arkema Group, Mitsubishi Chemical Holdings Inc., Celanese Corporation, Royal DSM, TEIJIN Limited, Zimmer Biomet Holdings Inc., Dentsply Sirona Inc., Huafon Group, W. L. Gore & Associates Inc., Corbion NV, Integra LifeSciences Holdings Corporation, Victrex plc, Collagen Matrix, Berkeley Advanced Biomaterials, Bezwada Biomedical LLC, Covation Biomaterials, Starch Medical Inc.
Table of Contents 1. Executive Summary2. Polymeric Biomaterials Market Report Structure3. Polymeric Biomaterials Market Trends And Strategies4. Polymeric Biomaterials Market – Macro Economic Scenario5. Polymeric Biomaterials Market Size And Growth…..27. Polymeric Biomaterials Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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