(Australia-NewsWire.Com, February 09, 2018 ) Biomaterials are the combination of artificial or naturally derived elements which are used in medical applications for instance replacement of tissue and organ transplantation.According to the report Asia Pacific biomaterials market, published by Market Data Forecast, the Market is estimated at USD 13 Billion and is poised to reach USD 27.304 Billion by 2021, growing at a CAGR of 15.2% during the forecast period.
With the recent developments in medical technology, especially in the fields of medical plastic, stainless steel /titanium metal replacement implant materials which are being predominantly effected by concerns of biocompatibility, in addition to demand for superior implant mechanical performance, the market for plastic materials took a hefty toll.
The increased use of biomaterials is mainly attributed to the research on advancements in medical technology for the efficient functionality of implants along with the increasing number of geriatric patients. In addition to this, support in the form of grants and investment from government agencies, new technologies such as hydrogen scaffolding and decellularized dermal matrixes for grafting are driving the growth of Asia-Pacific biomaterials market.
However, adverse reaction to biomaterial implants, stringent regulations, inflammation and fracture issues, high cost associated with and difficulties in manufacturing are the major factors limiting the growth of Asia-Pacific biomaterials market.
Based on the types of material, the Asia-Pacific biomaterials market is categorized into ceramic, metallic, polymers, and natural biomaterials. Polymers will have the fastest growth rate in the coming years due to their increased applications in healthcare. With persistent demand from geriatrics and rising incidence of ophthalmic disorders, the mainstream usage of polymers for ophthalmological purposes is predicted to rise in the next few years. Further, based on application, the market is segmented into dental, cardiovascular, orthopaedic, plastic surgery, ophthalmology, wound healing, 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 Asia-Pacific Market is analysed under various regions namely, India, China, Japan, and South Korea. In the coming few years, the biomaterials market is predicted to witness the highest growth rate in the Asia-Pacific region, with prominence in India, China, and Japan.
Some of the key players in the Asia-Pacific biomaterials market include Royal DSM, Zimmer Biomet Holdings, Inc., Evonik Industries AG, Corbion N.V., Berkeley Advanced Biomaterials, Wright Medical Technology Inc., Covalon Technologies Ltd., Bayer AG, Carpenter Technology Corporation, BASF SE, Invibio Ltd., Inc., CAM Bioceramics BV, and Collagen Matrix, Inc.
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