Biomaterials Market Applications In Tissue Engineering And Regenerative Medicine

The global biomaterials market size was estimated at USD 178.0 billion in 2023 and is projected to grow at a CAGR of 15.6% from 2024 to 2030. The growing incidence of musculoskeletal and chronic skeletal medical conditions is expected to stimulate the demand for implants based on biomaterials, thereby enhancing market expansion. The increasing prevalence of chronic conditions such as osteoarthritis and degenerative diseases intensifies the demand for advanced biomaterials. Joint replacements and augmentations become essential interventions for individuals facing limited mobility and pain due to these conditions.

Metallic biomaterials address this need by offering durable and long-lasting solutions that integrate with the body, restoring functionality and enhancing the quality of life for affected individuals. Technological advancements continually refine biomaterials, tailoring them to meet specific medical requirements. Innovations focus on improving biocompatibility, corrosion resistance, and the ability to integrate seamlessly with biological systems. 



Gather more insights about the market drivers, restrains and growth of the Biomaterials Market 

Detailed Segmentation

Product Insights

The metallic segment held the largest revenue share of over 40.0% in 2023 due to their unique combination of mechanical properties, biocompatibility, and corrosion resistance. Metals are the most widely used biomaterials and are generally used for manufacturing load-bearing implants. For instance, metallic implants are used on a large scale during orthopedic surgeries. They consist of simple wires, screws, fracture fixation plates, and total joint prostheses (artificial joints) for hips, knees, shoulders, ankles, etc. Thus, the well-established track record of metallic biomaterials in medical applications, coupled with ongoing research to enhance their functionalities, solidifies their dominance in the market, contributing to their widespread use in various medical devices and implants.

Application Insights

The orthopedic segment accounted for the largest revenue share in 2023. The growing adoption of metallic biomaterials in orthopedic applications, attributed to their high load-bearing capacity, is a key factor fueling the growth of this segment. In addition, the continuous efforts by market vendors to introduce advanced orthopedic implants are expected to drive revenue generation. For instance, in November 2019, DiFusion Inc. obtained FDA approval for its Xiphos-ZF spinal interbody device, which utilizes a unique biomaterial called Zfuze- a combination of poly-ether-ether-ketone and titanium. This innovative biomaterial has demonstrated significant reductions in cytokine markers associated with inflammation and fibrous tissue formation.

Regional Insights

North America dominated the overall biomaterials market in 2023. This is due to the initiatives by various public and private organizations, including the National Science Foundation and the National Institute of Standards and Technology, offering expertise and support regarding the utilization of biomaterials in biomedical applications. This has led to an increased adoption of biomaterials in the region. Furthermore, favorable government policies and the concentration of numerous major market players in this area have played a significant role in contributing to the regional market share.

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Recent Developments

• In March 2023, Invibio Biomaterial Solutions launched the polyetheretherketone polymer-based Peek-Optima Am filament for manufacturing 3D-printed medical devices.

• In January 2023, Zimmer Biomet Holdings, Inc. announced plans to acquire Embody, Inc. for USD 155 million at closing, potentially increasing to USD 275 million based on future milestones. The deal can strengthen Zimmer Biomet's sports medicine portfolio, focusing on soft tissue healing solutions.

• In October 2023, Evonik introduced VESTAKEEP iC4612 3DF and iC4620 3DF, the world's first carbon-fiber-reinforced PEEK filaments for 3D-printed medical implants, offering strength, ductility, and adaptability. This innovation signifies Evonik's commitment to advancing patient-specific medical treatments.