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Biomaterials are used in the human body to replace the damaged tissuesand improve body functions. Advances in technology and the emergence ofinnovative products have enhanced the performance and applications ofbiomaterials. While metals and ceramics currently dominate the biomaterialsmarket, polymers are expected to catalyze the next wave of market growth forbiomaterials.
The biomaterials market is still in a growing phase, with about 100,000heart valves, 200,000 pacemakers and 1 million orthopedic devices implantedworldwide every year. Increase in applications has increased the demand fornew biomaterials from 8% to 15%. Improved patient benefits form the mostimportant factor stimulating market growth for biomaterials. The other marketdrivers are increase in aging population, rising awareness, shorter productapproval time, and larger application area.
While the orthopedic biomaterials market was the biggest segment in 2008with $9.8 billion, the cardiovascular biomaterial market is estimated to bedominant segment in 2014 with an estimated $20.7 billion. The cardiovascularbiomaterial market is expected to grow with a CAGR of 14.5% from 2009 to 2014mainly due to increasing stress levels that have in turn increased theincidence of cardiac arrest.
The U.S. market is the largest geographical segment for biomaterials; andis expected to be worth $22.8 billion by 2014 with a CAGR of 13.6% from 2009to 2014. Europe is the second largest segment and is expected to reach $17.7billion by 2014 with a CAGR of 14.6% and the Asian market size is estimatedto increase at the highest CAGR of 18.2% from the year 2009 to 2014.
This report uses the term biomaterials to refer to the materials used inthe human body. The report segments the global biomaterial market as follows:
Biomaterials product market
Orthopaedic, cardiovascular, gastrointestinal, wound care, plasticsurgery, urological surgery, and others
Biomaterials ingredient market
Metals, polymers, ceramics, composites
Biomaterials application market
General, surgical appliances and supplies, surgical and medicalinstruments, dental products, electro-medical equipment, in-vitro diagnosticproducts, and other applications
Analyst Briefings on 16th Sep 2009.
The Biotech practice at MarketsandMarkets is pleased to announce itsAnalyst Briefing Presentation on the Global Biomaterial market to be held on16th Sep 2009. The briefing on the Global Biomaterial Market (2009-2014) willbenefit the biotech component manufacturers, biomaterial devicemanufacturers, medical/pharma associations, pharma research labs, Doctors,physician and hospitals, technology providers and research laboratories.
To register your participation, please click herehttp://www.marketsandmarkets.com/AnalystBriefing/analyst-briefing-global-biomaterial-market.asp
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