Biomaterials Market (By Product: Natural, Metallic, Polymer; By Application: Cardiovascular, Orthopedics, Plastic Surgery) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

Biomaterials Market Size and Growth

The global biomaterials market size was estimated at USD 178.04 billion in 2023 and it is expected to surpass around USD 760.72 billion by 2033, poised to grow at a CAGR of 15.63% from 2024 to 2033.

Key Pointers

• North America led the global market with the largest market share in 2023.
• By Product, the metallic segment held the largest revenue share of 41% in 2023.
• By Product, the natural segment is expected to expand at the highest CAGR during the forecast period.
• By Application, the orthopedic segment generated the maximum market share in 2023.
• By Application, the plastic surgery segment is estimated to expand the fastest CAGR during the forecast period.

Biomaterials Market Overview

The biomaterials market is experiencing a period of significant growth and innovation driven by advancements in medical technology, increasing prevalence of chronic diseases, and growing demand for biocompatible materials.

Biomaterials Market Growth Factors

The growth of the biomaterials market is propelled by an increasing prevalence of chronic diseases worldwide, such as cardiovascular disorders and orthopedic ailments, is driving the demand for advanced biomaterials. These materials are essential for the development of medical devices, implants, and drug delivery systems aimed at treating and managing these conditions. Additionally, the aging population demographic and rising healthcare expenditure are contributing to the market expansion, as biomaterials play a crucial role in addressing age-related health issues and degenerative conditions. Furthermore, rapid advancements in material science and technology, including nanotechnology and 3D printing, are fostering innovation in biomaterials research and development, leading to the creation of novel biomaterials with improved functionality and performance. Overall, these growth factors underscore the significance of biomaterials in advancing healthcare solutions and meeting the evolving needs of patients and healthcare providers.

U.S Biomaterials Market Size 2024 to 2033

The U.S. biomaterials market size was estimated at around USD 47.35 billion in 2023 and it is projected to hit around USD 202.35 billion by 2033, growing at a CAGR of 15.63% from 2024 to 2033.

Within North America, the United States claimed the largest portion of the biomaterials market in 2023. This is largely due to the strong presence of leading market players engaged in the development and introduction of innovative solutions for reconstructive surgical procedures. Additionally, domestic companies forge strategic alliances with both local and foreign enterprises to strengthen their foothold in the implants market, further propelling market growth in the foreseeable future.

In 2023, North America emerged as the dominant force in the biomaterials market. This can be attributed to the concerted efforts of various public and private entities, such as the National Science Foundation and the National Institute of Standards and Technology, which offer expertise and support for the integration of biomaterials in biomedical applications. Consequently, there has been a notable increase in the adoption of biomaterials across the region. Moreover, favorable governmental policies and the presence of numerous major market players have significantly bolstered the regional market share.

Meanwhile, the European biomaterials market is poised for substantial growth in the forecast period. The region has witnessed remarkable expansion, driven by investments and innovations from key industry players, well-established industrial infrastructure, and supportive governmental regulations. Notably, several organizations based in Germany are dedicated to advancing the development of safer and more biocompatible biomaterials in the coming years. Furthermore, increased investments from biopharmaceutical manufacturing companies serve as a pivotal market driver, contributing to the region's anticipated growth trajectory.

Biomaterials Market Trends:

• Biodegradable Biomaterials: Increasing demand for environmentally friendly materials drives the development of biodegradable biomaterials used in tissue engineering, drug delivery, and implants.
• Nanotechnology Integration: Nanomaterials offer enhanced properties and functionalities, revolutionizing biomaterials in applications such as drug delivery systems, diagnostic tools, and tissue engineering scaffolds.
• 3D Printing of Biomaterials: Additive manufacturing enables precise fabrication of patient-specific implants and prosthetics, fostering customization and scalability in biomaterials production.
• Biomimetic Materials: Biomimetic approaches mimic natural tissues and organs, promoting integration with biological systems and enhancing biocompatibility in applications like artificial organs and wound dressings.

Biomaterials Market Restraints:

• High Cost of Development: Research and development costs for biomaterials are substantial, including expenses related to material synthesis, testing, and clinical trials, limiting accessibility and affordability for some applications.
• Compatibility Issues: Biomaterials may elicit immune responses or compatibility issues in certain individuals, leading to adverse reactions or device failure, necessitating extensive testing and optimization.
• Limited Material Properties: Despite advancements, biomaterials may still lack desired mechanical, biological, or degradation properties for specific applications, hindering their widespread adoption and effectiveness.

Product Insights

The metallic segment accounted for the largest share of revenue, surpassing 41% in 2023. This was primarily attributed to the unique blend of mechanical properties, biocompatibility, and corrosion resistance offered by metals. Widely used in load-bearing implants, metals play a pivotal role in orthopedic surgeries, featuring in various forms such as wires, screws, fracture fixation plates, and total joint prostheses for hips, knees, shoulders, and ankles. The extensive use of metallic biomaterials in medical applications, alongside ongoing research aimed at enhancing their functionalities, cements their dominance in the market and underscores their widespread adoption in diverse medical devices and implants.

On the other hand, the natural segment is poised for significant growth in the forecast period. Natural biomaterials offer advantages in terms of biodegradability, biocompatibility, and remodeling compared to synthetic counterparts. They find increasing application in replacing or restoring damaged organs or tissues, such as in biosensors, analytical devices utilized to detect biomolecules or biological elements. Moreover, when implanted, natural biomaterials facilitate cell adhesion, proliferation, and differentiation, thereby playing a pivotal role in driving growth in this segment in the forthcoming years.

Application Insights

In 2023, the orthopedic segment emerged as the top revenue generator. This growth is primarily driven by the rising utilization of metallic biomaterials in orthopedic applications, thanks to their robust load-bearing capacity. Furthermore, ongoing efforts by market players to introduce cutting-edge orthopedic implants are anticipated to bolster revenue. Notably, DiFusion Inc. secured FDA approval in November 2019 for its Xiphos-ZF spinal interbody device, featuring the innovative biomaterial Zfuze, a blend of poly-ether-ether-ketone and titanium. This novel biomaterial has exhibited noteworthy reductions in cytokine markers linked to inflammation and fibrous tissue formation.

Meanwhile, the plastic surgery segment is poised to register the highest compound annual growth rate (CAGR) during the forecast period. This surge is attributed to the escalating demand for cosmetic procedures and the necessity for reconstructive surgeries following accidents or illnesses. Additionally, advancements in biomaterial technology have led to the creation of more resilient and customizable implants, driving market expansion. Moreover, the increasing elderly population, coupled with a growing desire for youthful aesthetics, is projected to further propel the demand for plastic surgery, thereby positively influencing overall segment growth.

Biomaterials Market Key Companies

• Medtronic
• Evonik Industries AG
• Carpenter Technology Corporation
• Berkeley Advanced Biomaterials
• Invibio Ltd.
• Zimmer Biomet Holdings, Inc.
• BASF SE; Covalon Technologies Ltd.
• Stryker
• Johnson & Johnson
• Dentsply Sirona
• CoorsTek Inc.
• Corbion
• Regenity Biosciences

Recent Developments

• In March 2023, Invibio Biomaterial Solutions launched the polyetheretherketone polymer-based Peek-Optima Am filament for manufacturing 3D-printed medical devices.
• In January 2023, Zimmer Biomet Holdings, Inc. announced plans to acquire Embody, Inc. for USD 155 million at closing, potentially increasing to USD 275 million based on future milestones. The deal can strengthen Zimmer Biomet's sports medicine portfolio, focusing on soft tissue healing solutions.
• In October 2023, Evonik introduced VESTAKEEP iC4612 3DF and iC4620 3DF, the world's first carbon-fiber-reinforced PEEK filaments for 3D-printed medical implants, offering strength, ductility, and adaptability. This innovation signifies Evonik's commitment to advancing patient-specific medical treatments.

Biomaterials Market Segmentation:

By Product

• Metallic
• Natural
• Ceramics
• Polymers

By Application

• Cardiovascular
  • Sensors
  • Stents
  • Guidewires
  • Implantable Cardiac Defibrillators
  • Pacemakers
  • Vascular Grafts
  • Others
• Ophthalmology
  • Synthetic Corneas
  • Intraocular Lens
  • Contact Lens
  • Ocular Tissue Replacement
  • Others
• Dental
  • Tissue Regeneration Materials
  • Dental Implants
  • Bone Grafts & Substitutes
  • Dental Membranes
  • Others
• Orthopedic
  • Joint Replacement Biomaterials
  • Orthobiologics
  • Bioresorbable Tissue Fixation Products
  • Viscosupplementation
  • Spine Biomaterials
  • Others
• Wound Healing
  • Fracture Healing Device
  • Adhesion Barrier
  • Skin Substitutes
  • Internal Tissue Sealant
  • Surgical Hemostats
  • Others
• Tissue Engineering
• Plastic Surgery
  • Facial Wrinkle Treatment
  • Soft Tissue Fillers
  • Craniofacial Surgery
  • Bioengineered Skins
  • Peripheral Nerve Repair
  • Acellular Dermal Matrices
  • Others
• Neurology
  • Neural Stem Cell Encapsulation
  • Shunting Systems
  • Hydrogel Scaffold For CNS Repair
  • Cortical Neural Prosthetics
  • Others
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)