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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.