Prevalence of musculoskeletal diseases and disorders and Increasing wound healing therapies are boosting Biomaterials Market | Forecast for 2023-2027
The Biomaterials Market is likely to experience steady growth because of the increasing prevalence of musculoskeletal diseases and disorders and increasing wound healing therapies. Rising at a CAGR of 6%, the market is estimated to have an incremental growth of USD 12907.35 Mn from 2023 to 2027 as forecasted.
Leading companies such as Algenesis Corp., BASF SE, Carpenter Technology Corp., Celanese Corp., CeramTec GmbH, CoorsTek Inc., Corbion NV, Covestro AG, Dimension Inx., Evonik Industries AG, Koninklijke DSM NV, Mitsubishi Chemical Corp., Riton Biomaterial Co. Ltd., Artoss Inc., Berkeley Advanced Biomaterials, etc are contributing significantly to the market development.
Snapshot of Biomaterials Market
Technavio analyst Quoted ~ " Increasing wound healing therapies is a majorly contributing to the market advancement of the Biomaterials Market "
Rising demand for wound healing therapies driving the global biomaterials market as Biomaterials are extensively used in these therapies to promote tissue regeneration, enhance healing, and minimize scarring.
The high cost of bioimplants and surgeries and Stringent clinical and regulatory processes are expected to hinder the growth of the market. However, Increasing number of joint replacement and arthroplasty surgeries and Increasing research on regenerative medicine will have a positive impact on the biomaterials market during the forecast period.
Technavio’s analysis of the Biomaterials Market also includes:
