Rising Need of Medical Implants to Drive Biomaterials Market for Implantable Devices to US$33,600 million by 2019 : Transparency Market Research

Albany, New York, Dec. 16, 2014 (GLOBE NEWSWIRE) -- Based on the latest report published by Transparency market research (TMR), the biomaterials market for implantable devices was worth US$25,277.8 million in 2012. Growing at a 4.1% CAGR from 2013 to 2019, the biomaterials market for implantable devices is estimated to reach US$33,600 million by 2019. The report is titled "Biomaterials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019".

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The biomaterials market for implantable devices has been analyzed on four fronts: Material type, application in various healthcare services, success rate, and region.

Metals, ceramics, polymers, and biomaterials obtained from natural origin are included in material type segment. Metal was accounted for the largest share in the global biomaterials market for implantable devices holding a revenue share of more than 50% in 2012. Alloys of titanium, chromium, nickel, stainless steel, nano-silver, and aluminum are major metals that are used in medical applications. However, polymers are likely to be the fastest growing category among all segments during 2013 to 2019, owing to rising applications of these biomaterials and various benefits over metals that include elasticity, flexibility, biocompatibility, bio-inertness, and longevity. The usage of polymers such as polyurethanes and polytetrafluoroethylene (PTFE) is being popular for synthetic vascular grafts, whereas the conventional use of polymers in ophthalmology is estimated to grow with increasing numbers of ophthalmic disorders and continuous demand from geriatrics.

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Each material type is further classified into several healthcare applications such as cardiology, dental, orthopedics, ophthalmology and others including neurology, urology, and gastroenterology.

On the basis of the geographical reach, the biomaterials market for implantable devices is studied for four regions: North America, Europe, Asia Pacific, and Rest of the World.

In 2012, North America was accounted for the largest share in the global biomaterials market for implantable devices followed by Europe. These two regions together held more than 80% share of global biomaterials market for implantable devices. They are likely to maintain their position throughout during 2013 to 2019. The major growth driver for biomaterials market for implantable devices in North America and Europe were the huge number of medical implant procedures that were carried out in the developed countries such as the U.S., U.K., Canada, Germany, and France.

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Japan, Australia, South Korea, and New Zealand are the main biomaterials market for implantable devices in Asia Pacific region owing to the growing acceptance of medical implant procedures in these nations coupled with the growing demand for advanced biomaterials compared to other small developing countries in this region. However, biomaterial producers are focusing on emerging nations such as China, India and Malaysia as they find these countries as lucrative markets because of large patient base, underserved medical implants market, and high population. In Rest of the World, Brazil and South Africa are the major biomaterials markets for implantable devices where significant growth is expected in near future.

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The major players in biomaterials market for implantable devices are Biomet, Inc., Corbion Purac, AdvanSource Biomaterials Corporation, Royal DSM, Ceradyne, Inc., Collagen Matrix, Inc., Celanese Corporation, DuPont, Evonik Industries AG, and Invibio, Inc.

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Source:Transparency Market Research