Global Biomaterials Market for Implantable Devices to Grow 4.10 Percent

The global market for biomaterials for implantable devices is demonstrating a competitive business structure. AdvanSource Biomaterials Corp., Ulbrich Stainless Steel & Special Metals Inc., Biomet, Inc., Celanese Corp., Collagen Matrix Inc., DuPont, Ceradyne, Inc., Evonik Industries AG, Corbion Purac, Royal DSM, and Invibio Inc. The key vendors of biomaterials for implantable devices are expected to involve increasingly into strategic partnerships. The global biomaterials market for implantable devices was worth USD 25.5 billion in 2012. Expanding at a CAGR of 4.10 percent from 2013 to 2019, the market is projected to reach USD 33.60 billion by the end of 2019. Heart valves, artificial hip joints, dental implants, and intraocular lenses are the key products available in this market.

In terms of the geography, the markets for biomaterials for implantable devices in Europe and North America have acquired the dominance. These two regions, collectively, held more than 80 percent of the global biomaterials market in 2012 and are expected to continue like this over the next few years, thanks to the constant rise in the number of implant surgeries. Asia-Pacific and the Middle East and Africa markets are also expected to experience a significant rise in the years to come. The main factor behind the significant rise in the global biomaterials market for implantable devices is the increasing prevalence of medical conditions, such as osteoarthritis, rheumatoid arthritis, and sports injuries, is driving the demand for biomaterials. The continual rise in the global geriatric population, who are highly susceptible to these conditions, is likely to boost the growth of this market in the near future. However, the high cost associated with the implanting procedure and implant devices may hamper the market’s growth over the next few years. – Transparency Market Research