Biomaterials Market Size, Share & Trends Analysis Report By Product (Natural, Metallic, Polymer), By Application (Cardiovascular, Orthopedics, Plastic Surgery), By Region, And Segment Forecasts, 2024 - 2030

Biomaterials Market Size & Trends

The global biomaterials market size was estimated at USD 178.0 billion in 2023 and is projected to grow at a CAGR of 15.6% from 2024 to 2030. The growing incidence of musculoskeletal and chronic skeletal medical conditions is expected to stimulate the demand for implants based on biomaterials, thereby enhancing market expansion. The increasing prevalence of chronic conditions such as osteoarthritis and degenerative diseases intensifies the demand for advanced biomaterials. Joint replacements and augmentations become essential interventions for individuals facing limited mobility and pain due to these conditions.

Metallic biomaterials address this need by offering durable and long-lasting solutions that integrate with the body, restoring functionality and enhancing the quality of life for affected individuals. Technological advancements continually refine biomaterials, tailoring them to meet specific medical requirements. Innovations focus on improving biocompatibility, corrosion resistance, and the ability to integrate seamlessly with biological systems.

This evolution enables the creation of implants that not only withstand the body's biomechanics but also promote healing & integration, reducing the risk of complications post implantation. In addition, the aging global population contributes significantly to the demand for biomaterials. As the population ages, the prevalence of chronic conditions and age-related injuries rises, amplifying the necessity for effective and durable medical interventions. Biomaterials play a pivotal role in addressing these healthcare challenges by offering solutions that align with the unique needs of an aging demographic.

Furthermore, the demand for novel biomaterials has been increasing in recent years owing to their growing application in tissue replacement & repair, such as bones, teeth, and other organs. This rising adoption can be attributed to technological developments, particularly in nanotechnology-enabled approaches for administering treatments at the molecular-length scale. In addition, advanced biomaterials offer 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 mimic the structural and functional properties of the extracellular matrix, which can be used for promoting cell growth. Moreover, several advanced polymeric substances are also being introduced to complement 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 biomaterials market.

Market Concentration & Characteristics

The market is witnessing a high degree of innovation, with advancements in bioengineering, nanotechnology, and regenerative medicine driving the development of novel materials for medical applications. This innovation is fostering the creation of bio-compatible and bio-functional materials that enhance tissue regeneration and medical device performance.

Several market players such as Medtronic plc, Evonik Industries AG, and Dentsply Sirona, are involved in merger and acquisition activities. Through M&A activity, these companies can expand their geographic reach and enter new territories.

Stringent regulatory frameworks are shaping the biomaterial market, ensuring product safety and efficacy, and driving industry compliance. Adherence to these regulations is essential for market entry and sustained growth in the biomaterial sector.

Biologically derived materials, such as plant-based polymers and tissue-engineered constructs, present potential substitutes in the biomaterial market, challenging traditional synthetic options. Continuous research into alternative sources and sustainable biomaterials is driving exploration of eco-friendly alternatives with diverse.

The market is experiencing robust regional expansion, driven by increasing healthcare investments, growing aging populations, and rising demand for advanced medical technologies in emerging economies. This expansion reflects a global shift towards adopting biomaterials for diverse medical applications, creating new opportunities for market growth.

Product Insights

The metallic segment held the largest revenue share of over 40.0% in 2023 due to their unique combination of mechanical properties, biocompatibility, and corrosion resistance. Metals are the most widely used biomaterials and are generally used for manufacturing load-bearing implants. For instance, metallic implants are used on a large scale during orthopedic surgeries. They consist of simple wires, screws, fracture fixation plates, and total joint prostheses (artificial joints) for hips, knees, shoulders, ankles, etc. Thus, the well-established track record of metallic biomaterials in medical applications, coupled with ongoing research to enhance their functionalities, solidifies their dominance in the market, contributing to their widespread use in various medical devices and implants.

The natural segment is expected to showcase lucrative growth during the forecast period due to its advantages in terms of biodegradability, biocompatibility, and remodeling compared to synthetic biomaterials, the product is increasingly utilized to replace or restore the structure and function of damaged organs or tissues. For instance, the biosensor, an analytical device employed to detect analytes such as biomolecules or biological elements produced by microorganisms, tissues, enzymes, organelles, and so on. Moreover, when implanted, natural biomaterials possess the capacity to facilitate cell adhesion, proliferation, and differentiation, thereby playing a crucial role in the anticipated growth of this segment in the coming years.

Application Insights

The orthopedic segment accounted for the largest revenue share in 2023. The growing adoption of metallic biomaterials in orthopedic applications, attributed to their high load-bearing capacity, is a key factor fueling the growth of this segment. In addition, the continuous efforts by market vendors to introduce advanced orthopedic implants are expected to drive revenue generation. For instance, in November 2019, DiFusion Inc. obtained FDA approval for its Xiphos-ZF spinal interbody device, which utilizes a unique biomaterial called Zfuze- a combination of poly-ether-ether-ketone and titanium. This innovative biomaterial has demonstrated significant reductions in cytokine markers associated with inflammation and fibrous tissue formation.

The plastic surgery segment is estimated to register the fastest CAGR over the forecast period due to the increasing demand for cosmetic procedures and the need for reconstructive surgeries after accidents or diseases. In addition, advancements in biomaterial technology have led to the development of more durable and customizable implants, further driving the market. Moreover, the growing aging population coupled with a rising obsession for youthful looks is expected to fuel the demand for plastic surgery, thereby impacting positively on the overall segment growth.

Regional Insights

North America dominated the overall biomaterials market in 2023. This is due to the initiatives by various public and private organizations, including the National Science Foundation and the National Institute of Standards and Technology, offering expertise and support regarding the utilization of biomaterials in biomedical applications. This has led to an increased adoption of biomaterials in the region. Furthermore, favorable government policies and the concentration of numerous major market players in this area have played a significant role in contributing to the regional market share.

U.S. Biomaterials Market Trends

The U.S. accounted for the largest share of the biomaterials market in North America region in 2023. The large market share of the U.S. can be attributed to the presence of major market players involved in the manufacture and introduction of innovative solutions for reconstructive surgical procedures. In addition, homegrown companies form strategic partnerships with each other as well as foreign-established enterprises to enhance their presence in the implants market, which in turn is expected to boost market growth in the coming years.

Europe Biomaterials Market Trends

The Europe biomaterials market is expected to grow significantly over the forecast period. The region exhibited significant growth, attributed to the investments & innovations by major players, established industrial infrastructure, and supportive government regulations. Several Germany-based organizations support and are focused on providing safer & more biocompatible biomaterials in the coming years. The increase in investments from biopharmaceutical manufacturing companies is also an important market driver.

The biomaterials market in the UK held the major share in 2023. Cardiovascular diseases affect around 7 million people in the UK and are a major cause of death and disability. Cardiovascular diseases are responsible for one in four premature deaths in the country and account for the major gap in healthy life expectancy. Biomaterials are used in the restoration and replacement of cardiovascular tissues. Thus, high prevalence of cardiovascular disorders is expected to influence the UK market’s growth.

The Germany biomaterials market held a significant revenue share in 2023. The Germany market is expected to grow in tandem with the overall Europe market, owing to the increasing need for grafting procedures and subsequent development of biomaterials by prominent market players. Presence of companies involved in the development and marketing of biomaterials used for implants in Germany is anticipated to drive the market growth in the coming years. Moreover, there has been a paradigm shift toward biomaterials used in reconstruction in the past few years. Proven safety of biomaterials and constant developments in biomaterials have contributed to the increase in the demand for biomaterials.

The market for biomaterials in France witnessed significant growth as a result of the country's aging population and rising incidence of neurological diseases. France's population is continuously increasing, and as of the beginning of 2018, the population was 67.2 million, according to the Insee National Statistics of France. It revealed a huge increase of 233,000 persons in 2017, an increase of 0.3%. According to Fondation de France, nearly 19.6% of the French population is now over the age of 65, up from 15.5% 20 years ago, and one in every five French citizens is over the age of 60. This rise in the aging population has led to incidence of several conditions, including neurodegenerative and ophthalmic diseases in the country. For instance, according to ICM (Brain & Spine Institute), in France, Parkinson's disease is the second cause of motor disability, with 8,000 new cases each year.

Asia Pacific Biomaterials Market Trends

The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. This is due to the strategic initiatives implemented by regional participants to strengthen their position in both local and global markets. For instance, in November 2019, Mitsubishi Chemical, a Japan-based company, entered into an agreement with AdvanSource Biomaterials, a U.S.-based firm, to acquire their thermoplastic polyurethane elastomer business. This strategic acquisition is anticipated to enhance their global business presence and secure a substantial share in the international market.

The Japan biomaterials market accounted for the largest share in 2023. This is due to its advanced healthcare infrastructure, substantial research and development initiatives, and a rapidly aging population. The country has a strong emphasis on technological innovation and medical advancements, leading to significant investments in biomaterial research and application. Japan's well-established regulatory framework ensures the safety and efficacy of biomaterials, fostering their widespread adoption in medical devices and regenerative medicine.

The biomaterials market in China is fragmented with local players that collectively dominate every sub-segment. Local players control more than half of the total market, with foreign players holding the remaining, which is mainly due to lower price points and significant financial & regulatory backing from the government. Two notable foreign players in China are Weigao Group from China and Evonik Industries from Germany, whose products have leading positions in the overall market.

Middle East & Africa Biomaterials Market Trends

The Middle East & Africa region is expected to witness growth during the forecast period due to the increasing scientific awareness and adoption of biomaterial technologies for the development of medical devices in the region. Similarly, the high prevalence of chronic disease conditions such as cardiovascular disease in the Middle East region is also fueling the market. For instance, according to a study published in the American Journal of Preventive Cardiology, UAE witnesses one of the highest age-standardized death rates for cardiovascular disease. This is anticipated to lead to a high demand for cardiac health solutions such as stents, grafts, etc. which can boost the market growth.

The South Africa biomaterials market is expected to account for a small share as compared to other countries & regions in this market. The developing life sciences field and rising disease-oriented studies with untapped opportunities are few factors expected to drive the segment growth in the coming years. However, slower economic growth is anticipated to impede market growth to some extent in this country. The South African government recognizes the potential of the biomaterials industry and provides support through initiatives such as the Biomanufacturing Innovation Centre (BMIC) and the Technology Innovation Agency (TIA). This support fosters research, development, and commercialization of biomaterials.

Key Biomaterials Company Insights

The market players are adopting product approval to increase the reach of their products in the market and improve the availability of their products in diverse geographical areas, along with expansion as a strategy to enhance production/research activities. In addition, several market players are acquiring smaller players to strengthen their market position. This strategy enables companies to increase their capabilities, expand their product portfolios, and improve their competencies.

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 Report Scope

Global Biomaterials Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global biomaterials market report based on product, application, and region: 

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Metallic

  • Natural

  • Ceramics

  • Polymers

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • 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

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Thailand

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait