The implantable biomaterials market consists of sales of implantable biomaterials and related services. A biomaterial is a natural or synthetic material that is used in medical applications to support, enhance, or replace the damaged tissue or a biological structure.
The global implantable market is expected to decline from $108.8 billion in 2019 to $102.5 billion in 2020 at a compound annual growth rate (CAGR) of -5.79%. The decline is mainly due to the COVID-19 outbreak that has deferred non-emergency surgeries in order to attend critical patients suffering from COVID-19. The market is then expected to recover and reach $136.59 billion in 2023 at a CAGR of 10.04%.
