Global
Biomaterials Market For Implantable Devices Driven By Polymers
Biomaterials are either of
synthetic or natural origin used in effective treatment of several diseases such
as cardiovascular, dental problems, tissue damage, bone cancer and orthopedic
injuries. These biomaterials have a key requirement of being biocompatible i.e.
they should be physiologically acceptable and not provoke any immunogenic
reaction in the human body. Biomaterials of significant importance which have
been proven to be safe, reliable, and affordable include ceramics, metals,
polymers and biomaterials derived from natural origin.
The global biomaterials market is
estimated to be worth US$88.4 bln by 2017 as per Markets and Markets. The market
estimated at US$44 bln in 2012 and is poised to grow at a CAGR of 15% from 2012
to 2017. The global biomaterial market is broadly segmented into two categories,
by type and by application. By type, it is broadly categorized into metals,
ceramics, polymers and natural biomaterials. In 2012, the metal as a biomaterial
accounted for largest market share in the global biomaterials
market, followed by rapidly growing polymer biomaterials segment. Polymers are
estimated to grow with a fastest growth rate during the forecast period of 2013
to 2019 owing to the increasing applications into healthcare and its unique
material properties such as flexibility, biocompatibility and durability.
Polymers are being used in a variety of implants such as percutaneous
transluminal coronary angioplasty (PTCA) catheters, heart valves, contact
lenses, intraocular lenses and for constructing rigid bases for dental
prosthesis and dentures. Other applications in which polymers are used as
biomaterials include urology and gastroenterology.
The biomaterial applications
market is broadly segmented into orthopedic, cardiovascular, neurological,
dental, tissue engineering, wound healing, plastic surgery, ophthalmology and
other applications such as gastrointestinal, urinary, bariatric surgery, and
drug delivery system. In 2012, the cardiovascular biomaterial segment
contributed 34.5% to the global biomaterial market, followed by the orthopedic
segment which commanded major share in the global biomaterials market due to
increasing number of hip and knee replacement performed across all geographies
and increasing usage in sports medicine. However, ophthalmic applications are
expected to propel the growth of biopolymers in particular as children, adults
and elderly population is considered susceptible to ophthalmic disorders.
Plastic surgery and wound healing applications are expected to witness the
highest growth in the coming years.
The biomaterial polymers market
is expected to show the highest growth at a CAGR of 22.1% (2012-2017) due to
tremendous ongoing research for the development of biodegradable and
bio-compatible polymeric biomaterial and its use in a wide range of
applications. In developed nations like the United States, Canada, Germany,
France, the U.K., Italy and Spain, the market is witnessing growth owing to high
adoption rate of medical implant procedures compared to sluggish adoption in
other parts of the world. As the baby boomer population enters their sixties,
the incidences for eye disorders, dental issues, bone-related diseases and
fractures are increasingly becoming common in the U.S. creating demand for
biomaterials. The National Joint Registry reported that these replacement
procedures are increasing. North America and Europe are expected to maintain
their leading positions in the global biomaterials market throughout the
forecast period from 2013 to 2019.
However, countries in the
Asia-Pacific such as Japan, South Korea, China, India and Taiwan are playing a
key role in the growth of biomaterials market in the region. Due to rising
awareness of biomaterial products in Asia, and increased conferences and
collaborations, the Asian market is expected to grow at a CAGR of 21.5% from
2012 to 2017. Increasingly, biomaterial manufacturers are finding stiff
competition in established markets in developed countries which have compelled
them to focus on the underserved emerging markets. This approach will drive the
biomaterials market in the Asia-Pacific and Latin American countries in the
coming years. Some of the major companies operating in the biomaterials market
include Biomet, Inc., AdvanSource Biomaterials Corporation, Celanese
Corporation, Ceradyne, Inc., Collagen Matrix, Inc., DuPont, Royal DSM, Evonik
Industries AG, Corbion Purac, and Invibio, Inc.
Ageing population, worldwide
increase in life expectancy due to improved healthcare continues to propel the
medical implants market to alleviate increasing morbidity among geriatrics.
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