Biocompatible Materials Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Published Date: Upcoming | Format:

Industry: Pharmaceuticals & Biotechnology


Request TOC Request Customization $4,995.00Prebook

Cutting-edge Implant Surgeries Uplift Market Outlook of Biocompatible Materials

Biocompatible materials act as the key ingredients in several implants such as bone plates, sutures, joints, dental implants, and medical devices such blood tubes, artificial heart, and pacemakers. These materials have been gaining rapid traction within biomedical industry because of their inherent features such as high corrosion resistance, and absence of immunogenicity, toxicity, teratogenicity, and carcinogenicity.

With exponential surge in sales of orthopedic implants, a slew of opportunities is likely to emerge for biocompatible materials market players. The global biocompatible materials market has high potential to grow rapidly during the forecast period 2021 – 2025, prominently driven by exponentially surging applicability in 3D and 4D printed implants.

Opportunities Make Headways with Constant R&D Efforts around Biocompatible Materials

Biocompatible materials are increasingly becoming popular for use in implant surgeries as they enable restoring of the human anatomy in its primary state and act when the body is affected by genetic defect, disease, or physical trauma. Biomaterials have been experiencing extensive adoption in medical practice as they function by safely replacing, and restoring the injured or destroyed tissues or organs. Continuous R&D around biocompatibility of different material candidates has been delivering several innovations to the medical industry, more specifically for use in medical interventions.

However, manufacturers of biocompatible materials have to undergo strict regulatory scrutiny before introducing any new material in the market. There have been instances where certain medical implants were responsible for causing some medical problems to a patient. Regulatory norms thus make it mandatory for biocompatible materials to undergo multiple stringent clinical trials before gaining the FDA-equivalent status so as to ensure their safety, security, and reliability of action.

Biocompatible Raw Materials Gain Ground as 3D and 4D Printing Technology Firms up in Medical Devices Sector

Over the past decade, 3D and 4D printing technology has been garnering popularity attributing to its excellent potential to be used in development of treatment-specific drugs and patient-specific implants. Greater adoption of these printing technologies consequently demands R&D on smart materials as well. A number of manufacturing companies in medical devices sector are preferring medical grade polymer materials for use in the various surgical instruments, catheters, and implants. Given this, the flourishing medical devices sector is most likely to account for the expansion of a broad range of biocompatible materials in global market over the course of forecast period.

Synthetic Polymer Sought-after Material; Tissue Engineering Generates Significant Demand

Biomaterials, grouped in four different classes as metals, polymers, ceramics, and composites, can be used singly or in combination to form most of the commercially available medical devices and implants. As metals and ceramics have higher elastic modulus and tensile strength, they are chosen for hard tissue applications. Whereas polymers make an excellent choice for soft tissue applications.

Synthetic polymers are expected to witness heavy demand during the forecast period from drug delivery, hearing aids, dental and orthopedic implants, tissue engineering scaffolds, prosthesis, and some other medical applications. These materials are gaining preference over metals and bio-inks attributing to their cheaper price point and biocompatible, biodegradable, and easily moldable nature. Among application segments, tissue engineering is likely to develop a lucrative area for biocompatible material manufacturers on the back of a large number of tissue and organ failure cases, congenital disabilities, accidents, and diseases.

Europe and North America Frontiers in Adoption with Expanding Application Base of Biocompatible Materials

Europe and North America are expected to hold significant shares in global biocompatible materials market as these regions are witnessing increasing penetration of innovative biocompatible materials across wider application areas such as wound management, cosmetic surgery, and biotechnology. Moreover, government bodies in these regions are initiating new investments and supporting existing massive investments in the biomedical sector, thereby driving the demand for biocompatible materials.

Key Companies in Biocompatible Materials Landscape Strive for Regulatory Compliance

The key players are investing in R&D activities to bring cost effective solutions that are high in quality and performance. Biocompatible materials have to undergo high standards of biocompatibility judged on the basis of their biocompatible behaviour, as these materials often reportedly fail after 5-7 years of implantation. Companies thus have to undergo strict regulatory scrutiny to meet international standards and ensure their safety.

In April 2018, EnvisionTec had developed two novel medical-grade materials. These products aided the company in enhancing its biocompatible 3D printing material business. Similarly, EOS GmBH Electro Optical Systems in February 2018 expanded its footprint in the Asia Pacific region.

Recently in 2019, DuPont Transportation & Industrial introduced in the market its new semi-crystalline material for 3D applications. These advanced semi-crystalline materials in RAPID + TCT 2019 are expected to create a new wave of trends in biocompatible materials for 3D printing applications.

The key players operating in the global biocompatible materials market are AdvanSource Biomaterials Corporation, Ashland Inc., ASM International, Baxter International Inc., EOS GmBH Electro Optical Systems, Ensinger GmbH, EnvisionTEC Inc., Evonik Industries AG, Shin-Etsu Chemical Co. Ltd., Stratasys Ltd., and Renishaw PLC.

Key Elements Included In The Study: Global Biocompatible Materials Market

  • Biocompatible Materials Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

Post Sale Support, Research Updates & Offerings

We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.

  • The report will be prepared in a PPT format and will be delivered in a PDF format.
  • Additionally, Market Estimation and Forecast numbers will be shared in Excel Workbook.
  • If a report being sold was published over a year ago, we will offer a complimentary copy of the updated research report along with Market Estimation and Forecast numbers within 2-3 weeks’ time of the sale.
  • If we update this research study within the next 2 quarters, post purchase of the report, we will offer a Complimentary copy of the updated Market Estimation and Forecast numbers in Excel Workbook.
  • If there is a geopolitical conflict, pandemic, recession, and the like which can impact global economic scenario and business activity, which might entirely alter the market dynamics or future projections in the industry, we will create a Research Update upon your request at a nominal charge.

Disclaimer:

  • The segmentation/company profiles/countries depicted above may vary in the actual report.

Request Table of Contents

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

View Methodology
Fairfield Quality assured
Fairfield Confidentiality assured
Fairfield Custom research services