Major players in the implantable biomaterials market are Evonik Industries AG, Royal DSM, Zimmer Biomet Holdings, Carpenter Technology Corporation, Collagen Matrix, Corbion, BASF SE, Invibio Ltd. , and Celanese Corporation.
New York, July 30, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Implantable Biomaterials Global Market Report 2020-30: Covid 19 Growth and Change" - https://www.reportlinker.com/p05948411/?utm_source=GNW
The global implantable market is expected to decline from $108.8 billion in 2019 to $102.5 billion in 2020 at a compound annual growth rate (CAGR) of -5.79%. The decline is mainly due to the COVID-19 outbreak that has deferred non-emergency surgeries in order to attend critical patients suffering from COVID-19. The market is then expected to recover and reach $136.59 billion in 2023 at a CAGR of 10.04%.
The implantable biomaterials market consists of sales of implantable biomaterials and related services. A biomaterial is a natural or synthetic material that is used in medical applications to support, enhance, or replace the damaged tissue or a biological structure.
North America was the largest region in the implantable biomaterials market followed by Europe in 2019.
In August 2019, Linden, a US-based healthcare private equity firm, acquired Collagen Matrix Inc for an undisclosed amount. The acquisition is expected to be an operating partner-driven strategy and highlights their ongoing focus on medical products, and contract and private label manufacturing in dental and orthopedic sectors. Collagen Matrix is a collagen-based medical developer and manufacturer of orthopedic biomaterials.
The implantable biomaterials market covered in this report is segmented by material into metallic; ceramic; polymers; natural and by application into dental; cardiovascular; ophthalmology; orthopedic; others.
Limitations of biomaterial-based products is a major challenge for the implantable biomaterials market. For instance, metal biomaterials can corrode due to chemical reactions within the body such as enzymes and acids or it can also cause some metal ion toxicity in the body. Polymer biomaterial implants have intensive interaction with the body and can lead to wear and tear and can absorb the important nutrients and water from the blood. Some biomaterial implants can also minimize bone ingrowth or sometimes, implants can loosen over time and become dislodged. These reactions that biomaterials have with the body restrain their use thereby negatively impacting the implantable biomaterials market’s growth.
Major companies in the implantable biomaterials market are implementing 3D printing of biomaterials in manufacturing. For instance, Evonik is producing 3D printable biomaterials for medical technology that are used for manufacturing medical implants with permanent body contact and temporary body contactline of bioresorbable filaments and powders. Implants with permanent body contact are based on VESTAKEEP PEEK, and with temporary body contact are based on RESOMER.
The allocation of funds by government organizations in the development of new biomaterials contributed to the implantable biomaterials market’s growth. For instance, in 2017, the UK regenerative platform received $21 million in the span of five years from the joint initiative between the three councils Medical Research Council(MRC), Engineering and Physical Science Research Council (EPSRC) and Biotechnology and Biological Sciences Research Council (BBSRC), in tissue engineering, stem cell biology, biomaterials, and nanoscience bioengineering. The support from government organizations in the development of new biomaterials will drive the implantable biomaterials market.
Read the full report: https://www.reportlinker.com/p05948411/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001