(PharmaNewsWire.Com, May 14, 2018 ) The North America Biomaterials Market is poised to reach $43.99 Billion by 2020 from an estimated $22.75 Billion in 2015, growing at a CAGR of 13.6%. In a short span of time, many patients throughout the world have the quality of their lives improved with the aid of some kind of implanted device.
The materials from which these devices are built include metals, ceramics, polymers, and an array of composites. As we reach the end of the 20th century, the success of using these materials is increasing, both because of improved surgical skill, and improved understanding of how the body interacts with such devices.
Due to the increase in aging population in the North American countries, there is a strong demand for usage of biomaterials in cardiology, neurology, wound healing and plastic surgery. Further, research on advancements in medical technology for the efficient functionality of medical implants, increased grants and funding from government bodies, are some of the factors driving the growth of North America biomaterials market. Besides, new technologies such as hydrogen scaffolding and decellularized dermal matrixes for grafting will contribute to the market in growing at a healthy rate throughout the forecast period.
However, adverse reaction to biomaterial implants, inflammation and fracture issues, stringent FDA regulations, high cost associated with manufacturing are the major factors limiting the progress of North America biomaterials market.
Based on the types of material, the North America biomaterials market is categorized into ceramic, metallic, polymers, and natural biomaterials. Polymers will have the fastest growth rate in the coming years owing to its increased applications in healthcare and distinct material properties such as bio- inertness, flexibility, longevity, biocompatibility and durability. With the rising incidence of ophthalmic disorders, the mainstream usage of polymers for ophthalmological purposes will surge in the next few years.
Further, based on application, the market is segmented into orthopaedic, dental, cardiovascular, plastic surgery, wound healing, ophthalmology, tissue engineering, neurological /central nervous systems, and other applications which include drug delivery systems, bariatric surgery, gastrointestinal and urinary applications.
Moreover, on the basis of geography, the North America market is analysed under various regions namely, USA and Canada. North America is poised to account for the largest share of the biomaterials market.
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