The European Biomaterials market is poised to reach $36.087 Billion by 2021, growing at a CAGR of 14% during the forecast period
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PR-Inside.com: 2017-12-07 12:48:41
The recent upsurge in the use of biomaterials is mainly attributed to the tremendous research on advancements in medical technology for the efficient functionality of medical implants. Concerns of biocompatibility and demand for superior implant mechanical performance have added to the need for advancements in medical technology.
Increase in government grants and funding, and massive usage of polymer in biomaterials are some of the factors driving the growth of European biomaterials market. Further, with the escalation in number of geriatric patients, the demand for usage of biomaterials in cardiology, wound healing, neurology and plastic surgery is also on a rise. Besides, new technologies such as hydrogen scaffolding and decellularized dermal matrixes for grafting will also contribute to the strong market growth.However, adverse reaction to biomaterial implants, inflammation and fracture issues, high cost associated with and difficulties in manufacturing are the major factors off-putting the growth for Europe biomaterials market.
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Based on the types of material, the Europe 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.
Further, based on application, the market is segmented into orthopaedic, dental, cardiovascular, plastic surgery, tissue engineering, wound healing, ophthalmology, neurological /central nervous systems, and other applications which include drug delivery systems, bariatric surgery, gastrointestinal and urinary applications. With the rising incidences of ophthalmic disorders, the mainstream usage of polymers for ophthalmological purposes will surge in the next few years. Moreover, on the basis of geography, the European Market is analysed under various regions namely, UK, Spain, Italy, Germany and France.
Some of the key players in the Europe 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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