Biomaterials Market

Biomaterials Market Size

The global Biomaterials Market size was valued at USD 171.30 billion in 2023 and is projected to grow from USD 188.53 billion in 2024 to USD 405.56 billion by 2031, exhibiting a CAGR of 11.56% during the forecast period. 

The market is expanding due to the aging population and increasing healthcare needs, which increases the demand for advanced medical implants, prosthetics, and tissue regeneration solutions to address age-related health issues. 

In the scope of work, the report includes products offered by companies such as Evonik Industries AG, CAM Bioceramics B.V., GELITA AG, dsm-firmenich, Victrex plc, CoorsTek Inc, Zeus Company LLC, Celanese Corporation, Corbion, CeramTec GmbH, and others.

The market is characterized by a broad range of applications in healthcare, particularly in medical devices, implants, and regenerative medicine. The growth of the market is fueled by the increasing demand for innovative solutions in orthopedics, dentistry, and wound care. 

Advancements in material technologies, such as polymeric biomaterials, ceramics, and natural materials like collagen, are key to improving patient outcomes. The development of personalized treatments and integration of biomaterials with emerging technologies are influencing the market, with a focus on improving the functionality, longevity, and safety of medical products and devices.

• The Society for Biomaterials and Artificial Organs in India (SBAOI) aims to foster a nationwide ecosystem that promotes both foundational and technology-driven research in the fields of biomaterials and artificial organs. Furthermore, it serves as a platform for collaboration among stakeholders, including clinicians, industry experts, and researchers from academia and national laboratories, with a goal of accelerating translational research in these vital fields.

The biomaterials market refers to the industry focused on the development and application of materials designed to interact with biological systems, primarily for medical use. These materials are essential in healthcare applications such as implants, prosthetics, tissue regeneration, and drug delivery systems. 

The market is segmented by application and material type. Its growth is supported by expanding medical industry, as biomaterials are integral to medical devices and healthcare solutions. Advancements in biomaterials enhance the performance, safety, and durability of medical treatments, benefitting both healthcare professionals and patients.

• In June 2024, researchers at Northwestern Engineering developed a citrate-based bioresorbable vascular scaffold (BVS) using advanced 3D printing technology. With a strut thickness of 62 micrometers, the BVS showed safety and efficacy comparable to metal stents in animal trials, offering a biodegradable alternative for patients.

Analyst’s Review

The biomaterials market is experiencing a notable shift toward innovation, with increasing interest in biocompatible, biodegradable, and patient-specific solutions. This trend aligns with a broader movement within the healthcare industry toward personalized medicine and advanced medical devices. 

Biomaterials are becoming integral in enhancing the functionality and longevity of implants, prosthetics, and tissue engineering applications. Collaborative efforts between academia, industry, and clinicians are fostering the development of more refined, versatile materials that offer improved safety profiles. 

This transformation positions biomaterials as essential components in the future of regenerative medicine and advanced therapeutic interventions.

Biomaterials Market Growth Factors

The growth of the market is fueled by the increasing demand for medical implants and prosthetics, fueled by an aging population and the rise in chronic diseases. Technological advancements are further contributing to this growth, as new biomaterials with enhanced biocompatibility, mechanical strength, and better integration with human tissue are being developed. 

These innovations are leading to more effective, durable, and personalized medical devices, bolstering market expansion and improving patient outcomes across various therapeutic areas.

• According to the World Health Organization (WHO), by 2030, 1 in 6 people globally will be aged 60 or older, and the number will double by 2050. This aging population, coupled with a rise in chronic diseases, is driving the demand for medical implants and prosthetics, fueling the biomaterials market.

A major challenge in the biomaterials market is the corrosion of metallic materials, which can cause degradation and toxicity, and potential allergic or cellular reactios. To address this challenge, research is focused on developing corrosion-resistant alloys and coating techniques to enhance the durability and safety. 

Additionally, biocompatible and non-toxic materials such as biodegradable polymers and ceramics are being explored to minimize adverse reactions. These advancements aim to enhance the safety and longevity of implants, ensuring they are both effective and well-tolerated by the body.

Biomaterials Industry Trends

The integration of machine learning and data-driven approaches to accelerate the development and processing of new materials is emerging as a notable trend in the biomaterials market. Leveraging advanced algorithms and large datasets enables researchers to optimize material properties and predict performance. 

This approach reduces development time, enhances precision, and leads to the creation of highly customized biomaterials tailored to specific medical applications. Such innovations are fostering advancements in tissue engineering, implants, and drug delivery systems, reshaping the landscape of the market.

• In June 2024, a team of researchers from the Keck School of Medicine of USC and the California Institute of Technology (Caltech) announced the development of  smart bandages designed to transform wound care. These advanced bandages can autonomously monitor healing progress, detect complications such as infections or abnormal inflammation, and deliver real-time treatments, offering a significant advancement in personalized and responsive wound care.

A major trend in the biomaterials market is the increasing allocation of government grants to support the development of innovative biomaterials. Governments worldwide are recognizing the potential of advanced biomaterials to improve healthcare outcomes, stimulaye economic growth, and reduce costs. 

Consequently, they are investing in research and development initiatives and funding projects aimed at creating biocompatible, sustainable, and high-performance materials. These financial incentives foster collaboration between academia, industry, and healthcare sectors, accelerating the commercialization of novel biomaterial technologies.

• In January 2023, the National Institute of Biomedical Imaging and Bioengineering (NIBIB) launched the Center for Biomedical Engineering Technology Acceleration (BETA Center). This initiative  aims to tackle pressing medical challenges by focusing on the development of biomaterials through a collaborative, engineering-driven approach. By assembling expert teams, the BETA Center aims to fast-track innovation in biomaterials and related fields to address urgent national and global health needs.

Segmentation Analysis

The global market has been segmented based on application, material type, and geography.

By Application

Based on application, the market has been segmented into orthopedics, cardiology, ophthalmology, plastic surgery, wound healing, dental, and others. The orthopedics segment led the biomaterials market in 2023, reaching a valuation of USD 48.38 billion. 

The growing aging population, prone to conditions like arthritis, osteoporosis, and joint degeneration, is increasing demand for joint replacements and bone implants. Additionally, the rising incidence of trauma, accidents, and sports injuries boosts the need for orthopedic devices. 

Technological advancements in biomaterials, including the development of more durable, materials, and improved surgical techniques, are enhancing the effectiveness and longevity of orthopedic implants. These factors fueling growth and innovation in the orthopedics segment.

By Material Type

Based on material type, the market has been classified into metallic biomaterials, polymeric biomaterials, ceramic biomaterials, and others. The polymeric biomaterials segment secured the largest revenue share of 38.56% in 2023. 

Polymeric biomaterials are gaining popularity for their versatility, offering properties such as flexibility, elasticity, and biocompatibility, which make them ideal for various medical applications. Their high biocompatibility minimizes adverse reactions and enhances tissue integration, ensuring safer outcomes for patients. 

Additionally, polymers can be customized by altering their chemical structure and physical properties to meet specific requirements. Biodegradable polymers, in particular, are advantageous for temporary implants and drug delivery systems as they naturally degrade in the body, eliminating the need for surgical removal and reducing long-term complications.

Biomaterials Market Regional Analysis

Based on region, the global market has been classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

The North America biomaterials market accounted for a substantial share of around 36.71% in 2023, with a valuation of USD 62.88 billion. This growth is largely attributed  to advanced healthcare infrastructure and a strong regulatory framework that support the adoption of innovative biomaterials. 

Substantial investments in research and development are leading to the creation of advanced biomaterials, while the high prevalence of chronic diseases, particularly among the aging population, is increasing the demand for these materials in medical treatments. These factors, combined with a growing focus on medical innovation, are fueling the expansion and advancement of North America market.

• According to The U.S. Centers for Disease Control and Prevention (CDC) chronic diseases such as heart disease, cancer, and diabetes are leading causes of death and disability in the U.S. With six in 10 Americans affected by at least one chronic disease, the demand for biomaterials continues is rising in response to these health challenges.

Asia-Pacific market is poised to witness significant growth over the forecast period, registering a robust CAGR of 12.30%. This growth is largely propelled by the region's rapidly aging population, generating a strong demand for medical devices and implants. With the growing geriatric population and rising prevalence of chronic diseases such as diabetes, cardiovascular conditions, and cancer, the need for advanced biomaterials is expanding.

Additionally, rising disposable incomes and government initiatives aimed at improving healthcare infrastructure are aiding regional market growth. This combination of demographic changes, increasing healthcare expenditure, and a growing focus on medical innovation positions Asia Pacific as a rapidly advancing market for biomaterials.

Competitive Landscape

The global biomaterials market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. 

Strategic initiatives, such as increased investments in research and development, the establishment of new manufacturing facilities, and the optimization of supply chains, have the potential to unlock new growth opportunities in the market. These actions can enhance innovation, improve production efficiency, and ensure better distribution of advanced biomaterials.

List of Key Companies in Biomaterials Market

• Evonik Industries AG
• CAM Bioceramics B.V.
• GELITA AG
• dsm-firmenich
• Victrex plc
• CoorsTek Inc
• Zeus Company LLC
• Celanese Corporation
• Corbion
• CeramTec GmbH

Key Industry Developments

• October 2024 (Partnership): Attivare Therapeutics Inc. licensed a portfolio of immune-modulating biomaterial technologies from Wyss Institute for Biologically Inspired Engineering at Harvard University. Developed in collaboration with SEAS, Dana-Farber Cancer Institute, and Massachusetts General Hospital, the technologies enhance the immune system's ability to combat cancer and prevent infections. The license, facilitated by Harvard’s Office of Technology Development, provides Attivare with worldwide rights to these innovations.
• October 2023 (Launch): Evonik introduced a carbon-fiber reinforced PEEK filament for 3D printed medical implants. This innovative biomaterial, compatible with extrusion-based 3D printing technologies such as fused filament fabrication (FFF), offers enhanced mechanical properties for medical applications. This marks a significant step in the development of customizable and durable implants, offering enhanced solutions for various healthcare needs.

The global biomaterials market has been segmented as:

By Application

• Orthopedics
  • Joint replacements
  • Bone grafts and implants
  • Spinal implants
  • Others
• Cardiology
  • Stents
  • Heart valves
  • Vascular grafts
  • Others
• Ophthalmology
  • Intraocular lenses
  • Contact lenses
  • Synthetic Corneas
  • Others
• Plastic Surgery
  • Soft Tissue Fillers
  • Facial Winkle Treatment Devices
  • Others
• Wound Healing
  • Wound Closure Devices
  • Internal Tissue Sealants
  • Skin Subsititutes
  • Others
• Dental
  • Tissue Regeneration Materials
  • Dental Implants
  • Bone Grafts & Substitutes
• Others

By Material Type

• Metallic Biomaterials
  • Stainless Steel
  • Titanium and Titanium Alloy
  • Others
• Polymeric Biomaterials
  • Silicone
  • Polyurethanes
  • Polyesters
  • Others
• Ceramic Biomaterials
  • Alumina
  • Zirconia
  • Others
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America