The implantable biomaterials market has grown significantly, increasing from $127.97 billion in 2023 to $144.1 billion in 2024, with a CAGR of 12.6%. This growth is attributed to advancements in tissue engineering, surface modification techniques, and the development of biodegradable materials. The market is expected to expand to $217.98 billion by 2028, achieving a CAGR of 10.9%. Future growth drivers include the use of bioactive and bioresorbable materials, integration of smart biomaterials, and advancements in tissue engineering. Major trends include drug-eluting implants, biocompatibility improvements, 3D printing, and nanotechnology integration.
Major Driver In The Implantable Biomaterials Market
The growth of the implantable biomaterials market is attributed to the allocation of funds by government organizations in the development of new biomaterials. An illustrative example is Drexel University's allocation of USD 200,000 to the National Science Foundation for research on biomaterial-mediated control over macrophage behavior, impacting biomaterial vascularization. This support from government organizations fosters advancements in biomaterials, thereby driving the growth of the implantable biomaterials market. The market's trajectory is expected to align with these developments, indicating market sizes for 2023, and anticipated figures for 2024 and 2028.
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Implantable Biomaterials Market Competitive Landscape
BASF SE, 3M Company, Medtronic plc, Evonik Industries AG, Stryker Corporation, DuPont de Nemours Inc., Celanese Corporation, Zimmer Biomet Holdings Inc., Biomet Inc., Koninklijke DSM NV, Arthrex Inc., DePuy Synthes Companies, Carpenter Technology Corporation, Corbion NV, GELITA AG, Wright Medical Group NV, CoorsTek Inc., CeramTec GmbH, Orthofix Holdings Inc., Invibio Biomaterial Solutions plc, Keystone Dental Inc., KLS Martin SE & Co., Collagen Matrix Inc., Cam Bioceramics BV, Aap Implantate AG, Berkeley Advanced Biomaterials Inc., AdvanSource Biomaterials Corporation, Collagen Solutions plc, Surgival SL, SBM France SAS.
Key Implantable Biomaterials Market Trend
Major companies operating in the implantable biomaterial market are focusing on developing innovative technology and products based on biomaterial technology for orthopaedic surgical applications. Biomaterial technology refers to the field of science and engineering that focuses on the development, design, and utilization of materials that interact with biological systems. For instance, in September 2021, Acuitive Technologies Inc., a US-based medical device manufacturer, introduced a biomaterial technology, CITREGEN, that will be used in musculoskeletal surgeries to benefit patients. The device attaches soft tissue grafts to bone in reconstruction surgeries, providing surgeons with a differentiated design. CITREGEN has unique chemical and mechanical properties for orthopaedic surgical applications, including citrate, phosphate, and calcium. It is the first thermoset biodegradable synthetic polymer used in implantable medical devices. The implantable device, CITRELOCK, has a compressive strength comparable to cortical bone and maintains structural integrity during the healing phase.
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Implantable Biomaterials Market Segmentation
The implantable biomaterials market covered in this report is segmented –
1) By Material: Metallic, Ceramic, Polymers, Natural
2) By Application: Dental, Cardiovascular, Ophthalmology, Orthopedic, Other Applications
3) By End-user: Hospitals, Ambulatory Surgical Centers, Specialty Clinics
By Geography:The regions covered in the implantable biomaterials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the implantable biomaterials market in 2023.
The Implantable Biomaterials Global Market Report 2024 furnishes information about the global implantable biomaterials market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
