The global polymeric biomaterials market comprises materials that possess biocompatibility and are used in medical devices or as implants. Polymeric biomaterials such as silicone, polyethylene, polyurethane, polyvinyl chloride, polylactic acid, etc. are used extensively in various medical applications. Biomedical devices fabricated from polymers have advantages such as flexibility, durability, resistance to corrosion and lightweight. Additionally, polymeric biomaterials are cost effective compared to other materials. The global polymeric biomaterials market finds applications in cardiovascular devices, ophthalmology devices, orthopedic devices, dental materials, plastic surgery, wound care and tissue engineering among others.

The global polymeric biomaterials market is estimated to be valued at US$ 121.52 billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the global polymeric biomaterials market are Stryker, BASF SE, Evonik Industries AG, DSM, Bezwada Biomedical, LLC, Corbion, Victrex plc (Invibio Ltd.), International Polymer Engineering, Covalon Technologies Ltd., Medtronic, Abbott, Elixir Medical, REVA Medical, LLC, Meril Life Sciences Pvt. Ltd., and MicroPort Scientific Corporation. With rising prevalence of chronic diseases coupled with growing geriatric population worldwide, demand for advanced biomaterial based medical devices and implants is increasing steadily. Additionally, increasing healthcare expenditure in developed as well as developing countries is driving growth of polymeric biomaterials market. Technological advancements in material science have led to development of novel biodegradable and bioactive polymers with improved mechanical and biological properties, supporting adoption of biomaterial based implants and devices.

Key players operating in the Global Polymeric Biomaterials Market Demand are focusing on capacity expansion and new product launches. For instance, BASF SE is investing on R&D to develop novel biomaterials for load bearing applications. Similarly, Evonik Industries AG acquired Resonetics to strengthen its position in medical technologies sector. Growing demand, technological advancement and investments by key players are expected to boost market growth during forecast period.

Market Trends:
The global polymeric biomaterials market is witnessing a trend of increasing adoption of biodegradable polymers. Biodegradable polymers such as poly(ε-caprolactone), poly(lactic-co-glycolic acid) offer advantages over conventional plastics as they degrade into non-toxic components. Additionally, advancements in fields such as tissue engineering and regenerative medicine have augmented demand for smart biomaterial which aid in regeneration of damaged tissues.

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