DUBLIN--(BUSINESS WIRE)--The "Global Biomaterials Market Growth, Trends & Forecasts 2017 - 2022" report has been added to Research and Markets' offering.
The Global market for Biomaterials has been estimated to be USD 54.65 billion in 2014 and it is projected to reach USD 115 billion by the end of 2020 at a CAGR of 13.2% during the forecast period from 2014 to 2021. Biomaterial is a biological or synthetic substance used to make devices to replace a part or an organ in a safe, reliable & compatible to the body. Biomaterials can be either extracted from the nature or synthesized using artificial processes. The usage of biomaterials is based on factors like its biocompatibility, bio-functionality & availability.
Biomaterials are used in plastic surgery, joint replacements, drug delivery devices, heart valves and in other medical implants. The medicinal areas which use biomaterials include Cardiovascular Medicine, Orthopedics, Dental Medicine, Ophthalmology, immunology, infection and others. The launch of new products in areas such as plastic surgery, neurology and wound healing is expected to fuel the growth of this market. The cardiovascular medicine field dominates the global biomaterials market in terms of share due to high prevalence rates of cardiovascular diseases. The orthopedic segment is the second largest market.
Technological advancements, rise in the number of aging people, increased funds & grants by government bodies worldwide, growing implantable devices market, rising number of hip and knee replacement procedures, growing incidence of chronic diseases are driving the growth of this market. However, stringent safety and validation regulations, compatibility issues, and difficulty in wearing the products are some of the reasons hindering the growth of the biomaterials market.
Key Topics Covered:
2. Executive Summary
3. Market Overview
4. Porters Five Force Analysis
5. Market Segmentation
6. Competitive Landscape
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/cbk487/global