Polymeric Biomaterials Market Size, Share, Report 2023-2032
The global polymeric biomaterials market size was estimated at around USD 44.19 billion in 2022 and it is projected to hit around USD 199.18 billion by 2032, growing at a CAGR of 16.52% from 2023 to 2032. The polymeric biomaterials market in the United States was accounted for USD 15.5 billion in 2022.
Key Pointers
Report Scope of the Polymeric Biomaterials Market
| Report Coverage | Details |
| Revenue Share of North America in 2022 | 39% |
| CAGR of Asia Pacific from 2023 to 2032 | 20.85% |
| Revenue Forecast by 2032 | USD 199.18 billion |
| Growth Rate from 2023 to 2032 | CAGR of 16.52% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | Stryker; BASF SE; Evonik Industries AG; DSM; Bezwada Biomedical, LLC; Corbion; Victrex plc (Invibio Ltd.); International Polymer Engineering; Covalon Technologies Ltd.; Medtronic; Abbott; Elixir Medical; REVA Medical, LLC; Meril Life Sciences Pvt. Ltd.; MicroPort Scientific Corporation |
The major factors driving the market are innovations in polymeric biomaterial, increasing applications of polymeric biomaterial in tissue engineering, and the rising prevalence of chronic diseases, along with the growing need for polymeric biomaterials in surgical procedures.
The COVID-19 pandemic adversely impacted the polymeric biomaterial market owing to several lockdown strictures, hindrances in supply chain operations, and decreased clinical research activities. Despite these challenges, the market is expected to witness strong growth prospects in the long term due to the increasing adoption of polymeric biomaterial for devising new therapeutic strategies for COVID-19 treatment. For instance, according to an article published in the Emergent Materials Journal in April 2021, biomaterial substances were studied for the controlled delivery of drugs, such as interleukin 6 (IL-6) inhibitors, for COVID-19 treatment. As a result, with the increasing demand for novel therapeutics for COVID-19, the market is expected to witness significant growth in the coming years.
Technologically advanced polymeric biomaterials are offering a promising solution to the challenges faced by autologous or allograft-based treatments, such as shortage of donors, possible immune rejection, and size or modality mismatches. Polymeric artificial constructs that mimic the structural and functional properties of the extracellular matrix show application in promoting cell growth. Moreover, several advanced polymeric substances are also being introduced for complementing existing implant solutions and to improve their efficiency. For instance, in March 2022, Evonik expanded its offerings for 3D-printable biomaterials with the launch of its osteoconductive VESTAKEEP iC4800 3DF PEEK filament, which can improve the fusion between implants and bone. Such innovations are expected to expand the growth prospects for the polymeric biomaterial market.
Furthermore, according to the White House in September 2022, the Department of Energy has plans to announce USD 178 million for the advancement of innovative research in the area of bio products, biomaterials, and biotechnology. The increasing government support in the form of funding and initiatives is also contributing the market growth. Moreover, growing demand for biomaterials in various areas of healthcare sector, such as 3D printing in medicine, implants, tissue engineering, nanomaterials, biotechnology, diagnostic systems, bioimaging is anticipated to fuel the market growth from 2023 to 2032.
Product Insights
The Polylactic Acid (PLA) segment dominated the market with a revenue share of 21% in 2022. The growth is attributed to the wide application of PLA with fixation devices such as dissolvable suture meshes and resorbable plates & screws, owing to the increasing preference for PLA over metallic implants. Furthermore, homopolymers in the PLA family, such as Poly-L-Lactic Acid (PLLA), have been widely studied to harness their mechanical properties and tailorable biodegradability. Based on product, the market is segmented into Polylactic Acid (PLA), Polyglycolic Acid (PGA), Polyurathanes, Polytetrafluoroethylene (PTFE) & expanded polytetrafluoroethylene (ePTFE), Polyaryletheretherketone (PEEK), Polydioxanone (PDO), and others.
The Polytetrafluoroethylene (PTFE) and expanded polytetrafluoroethylene (ePTFE) segment is anticipated to showcase the fastest growth at a CAGR of 21.31% from 2023 to 2032. The rising demand for the treatment of non-self-containing bone defects and multiwalled defects in vertical augmentations is driving the demand for polymeric biomaterials. Moreover, metallic stents for palliative treatment of unresectable malignant esophageal strictures are coated with PTFE introducer sheaths which are also contributing to its growth.
Application Insights
The orthopedic segment dominated the polymeric biomaterial market with a share of 24% in 2022. The segment growth is attributed to the growing incidence of orthopedic diseases. According to Southeast Orthopedic Specialists, incidences related to orthopedic conditions are expected to grow owing to the growing geriatric population. As of June 2023, around 45 million adults aged 65 years and above are living in the U.S. The number is estimated to reach around 98 million by 2060. Additionally, osteoarthritis affects 33.3% of the elderly population annually. Thus, the increasing incidence of such diseases is in turn encouraging scientists to discover novel and more effective treatment options using polymeric biomaterials. Based on application, the market is segmented into plastic surgery, dental, neurology, cardiovascular, orthopedic, and others.
The plastic surgery segment in anticipated to witness the fastest CAGR of 20.88% from 2023 to 2032. The significant growth is attributed to its wide adoption in breast augmentation, rhinoplasty, and face lifts. According to a survey conducted by the International Society of Aesthetic Plastic Surgery, around 365,000 surgeries for breast augmentation were performed in 2021, with an increase of 44% from the previous year. Furthermore, around 148,000 women underwent implant replacement and implant removal surgeries in the same year.
Regional Insights
North America held the largest market share of 39% of the polymeric biomaterial market in 2022. The large share of this region is due to a rise in the number of surgical procedures for orthopedic injuries and cosmetic surgeries and the need for sustainable biomaterials in this region. Moreover, the presence of major market players involved in the manufacturing and development of innovative solutions for reconstructive surgical procedures is positively impacting the market. In addition, homegrown companies form strategic partnerships with each other as well as foreign-established enterprises to enhance their presence in the medical implants market, which in turn is expected to boost market growth in the coming years.
Asia pacific is anticipated to show fastest CAGR of 20.85% from 2023 to 2032. The growth is attributed to increasing demand for dental implants and rising geriatric population in the region. According to the Ministry of Health and Family Welfare, over 60% of Indians present dental cavities, and over 85% have periodontal disease. In addition, oral cancer is thought to be an important health issue in India. Thus increasing prevalence of such diseases is anticipated to drive the market in the future.
Polymeric Biomaterials Market Segmentations:
By Product
By Application
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Polymeric Biomaterials Market
5.1. COVID-19 Landscape: Polymeric Biomaterials Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Polymeric Biomaterials Market, By Product
8.1. Polymeric Biomaterials Market, by Product, 2023-2032
8.1.1. Polylactic Acid (PLA)
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Polyglycolic Acid (PGA)
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Polyurathanes
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Polytetrafluoroethylene (PTFE) & Expanded Polytetrafluoroethylene (ePTFE)
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Polyaryletheretherketone (PEEK)`
8.1.5.1. Market Revenue and Forecast (2020-2032)
8.1.6. Polydioxanone (PDO)
8.1.6.1. Market Revenue and Forecast (2020-2032)
8.1.7. Others
8.1.7.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Polymeric Biomaterials Market, By Application
9.1. Polymeric Biomaterials Market, by Application, 2023-2032
9.1.1. Cardiovascular
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Dental
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Orthopedic
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Plastic Surgery
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Neurology
9.1.5.1. Market Revenue and Forecast (2020-2032)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Polymeric Biomaterials Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Application (2020-2032)
Chapter 11. Company Profiles
11.1. Stryker
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. BASF SE
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Evonik Industries AG
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. DSM
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Bezwada Biomedical, LLC
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Corbion
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Victrex plc (Invibio Ltd.)
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. International Polymer Engineering
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Covalon Technologies Ltd.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Medtronic
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers