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Global Gold Biomaterials Market To Grow At The Highest Rate During The Forecast Period
The biomaterials market is projected to reach USD 149.17 Billion by 2021 from USD 70.90 Billion in 2016, at a CAGR of 16.0%.
The global biomaterials market is segmented on the basis of type of material, application, and region. On the basis of type of material, the global market is segmented into metallic, ceramic, polymeric, and natural biomaterials. In 2016, the metallic biomaterials segment is expected to account for the largest share of the market. The metallic biomaterials segment is further divided into stainless steel, titanium & titanium alloys, cobalt- chrome alloys, gold, silver, and magnesium. In 2016, the stainless steel segment is projected to account for the largest share of the metallic market. The titanium and titanium alloys segment is expected to grow at the highest CAGR during the forecast period. The polymeric biomaterials segment is projected to grow at the highest CAGR during the forecast period. Polymeric biomaterials are further segmented into polymethylmethacrylate (PMMA), polyethylene, polyester, polyvinyl chloride, silicone rubber, nylon, polyetheretherketone (PEEK), PLA, PGA, and PLGA, and other polymeric biomaterials. The PMMA segment is expected to grow at the highest CAGR during the forecast period.
On the basis of application, the biomaterials market is segmented into cardiovascular, orthopedic, ophthalmology, dental, plastic surgery, wound healing, tissue engineering, neurological/central nervous system, and other applications. In 2016, the cardiovascular segment is expected to account for the largest share of the biomaterials market. The plastic surgery and wound healing segments are expected to grow at highest CAGRs during the forecast period.
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The biomaterials market is segmented into four major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Among these regional segments, North America is expected to account for the largest share of the global market, in 2016. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The high growth in this regional segment can be attributed to the rising aging population and increasing incidence of cardiovascular and orthopedic diseases in India and China.
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Prominent players in the global biomaterials market include Royal DSM (Netherlands), BASF SE (Germany), Corbion N.V. (Netherlands), Covestro (Germany), Invibio Ltd. (U.K.), Carpenter Technology Corporation (U.S.), Evonik Industries AG (Germany), Berkeley Advanced Biomaterials, Inc. (U.S.), CAM Bioceramics BV (Netherlands), and Celanese Corporation (U.S.).
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