(PharmaNewsWire.Com, November 16, 2017 ) Biomaterials are the substances that are designed to interact with the biological systems, serving a medical purpose either for a therapeutic or diagnostic purpose. These materials are a combination of naturally derived, synthetic elements and are used for medical applications of tissue and organ transplant. These materials are used as replacement implants, being driven by concerns of bio compatibility
Biomaterials Market: Drivers & Restraints
Factors like increasing funding for research and development activities and recent advancements in technology improving the efficiency of medical implants and Increasing use of polymers as biomaterials are accountable for the growth of market. Also, increasing geriatric population and increasing application of biomaterials in cardiology, wound healing, neurology and plastic surgery are also assisting in the growth of market.
On the other hand, adverse reactions of the body to these implant materials, stringent regulatory framework, expensive prices, manufacturing complications and biocompatibility issues are the factors hindering the growth of market.
Based on Material Type, Ceramic holds the major share in the market currently due to their natural occurrence as well as minimal adverse reaction by the body. Their minimal friction also provide lesser complications. Polymers are expected to grow the fastest and dominate the market in the future due to its properties like bio-inertness, malleability, durability and bio compatibility. Polymers are currently being used in coronary catheters and their applications are increasing due to on going research activities and their increasing use in dental prosthesis and as intraocular lenses.
Regionally, North America dominated the Biomaterials market due to the presence of a sophisticated healthcare system and increasing government funding for research and development activities. Asia Pacific is expected to grow the fastest due to increasing adoption rate and upsurge in research activities.
Biomaterials Market: Key Players
Some of the key players in the global biomaterials market include Royal DSM, Zimmer Biomet Holdings, Inc., Evonik Industries AG, Wright Medical Technology, Inc., Corbion N.V., Berkeley Advanced Biomaterials, Bayer AG, Carpenter Technology Corporation, Covalon Technologies Ltd., BASF SE, Invibio Ltd., Inc., CAM Bioceramics BV, and Collagen Matrix, Inc.
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