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Global $77.22 Million Polymeric Biomaterials Market Outlook, 2024 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The "Polymeric
Biomaterials Market – Growth, Trends, and Forecast (2019 – 2024)"

report has been added to ResearchAndMarkets.com's
offering.

The global polymeric biomaterials market was valued at USD 32.19 million
in 2018 and is estimated to be valued at USD 77.22 million in 2024,
witnessing a CAGR of 15.7%. Innovations in the field of polymeric
biomaterials and increasing applications of polymeric biomaterials in
tissue engineering are the factors that are responsible for the growth
of the market.

Among all the delivery modes, polymeric implants are anticipated to
further develop in the upcoming years, boosting up the healthcare
market. Also, polymeric micro/nano-spheres and micro/nano-fibers have
gained popularity as potential substrates for the immobilization of
biomolecules, providing a broad range of medical applications in
diagnostics and bioseparation.

Another aspect is the use of polymeric probes for positron emission
tomography (PET), which has transformed the imaging technology.

New emerging technologies, which are likely to propel the market with
innovative approaches, have developed biostable polymeric valves. They
come with the option of drug-eluting and/or valves with bioresorbable
scaffolding in transcatheter heart valves, leadless pacemaker in a
smaller size with longer life and bioresorbable and polymer-free
drug-eluting stents with new surface modification technologies, new
polymer chemistry, and new drugs. Therefore, such innovations in
polymeric biomaterials are augmenting the growth of the market.

Key Market Trends

Cardiology is Expected to Hold the Highest Market Share in the
Application Segment

In the application segment of the market, cardiology is believed to have
the largest market size and is expected to witness a CAGR of 16% during
the forecast period.

Recent years have observed promising applications of polymeric
biomaterials in cardiac repair and regeneration. Organ failure is also
one among the major health problems, globally recognized. As per the
World Health Organization (WHO), it is estimated that there will be 23.6
million deaths annually by 2030, due to CVD, with the largest increase
in Southeast Asia.

To combat the rising burden of diseases and related unmet needs, several
cardiac specialized universities across the world have launched
initiatives in cardiac restoration therapy, to act as alternative
therapeutic options to replace transplants. However, the growth is
expected to be steady, as market approval is a major hindrance. Over the
forecast period, the growth is estimated to be about 16%.

North America Dominates the Market and is Expected to Remain
Dominant During the Forecast Period

North America currently dominates the market for polymeric biomaterials
and is expected to continue its stronghold for a few more years. In the
United States, there are several private companies, which have vast
expertise in biopolymers with access to advanced technology and custom
synthesis. These companies have businesses across drug research and
medical device manufacturers, which act as contract research
organizations acting as partners to major healthcare firms.

Furthermore, the region has manufacturing units for several major
medical device and pharmaceutical companies, such as Abbott, Allergan,
3M, and Baxter, among others, which have a wide range of products,
across multiple therapeutic areas, which drives the investment
opportunity by investors, high competition for raw material providers,
and long-term partnerships for the development of advanced end products
to be used in hospitals. Thus, over the forecast period, this region is
likely to remain a major lucrative market, with an estimated CAGR of
15.9%.

Competitive Landscape

The polymeric biomaterials market is moderately competitive and consists
of several major players. In terms of market share, few of the major
players currently dominate the market. However, with technological
advancements and product innovations, mid-size to smaller companies are
increasing their market presence. Companies, like BASF SE, Bezwada
Biomedical LLC, Corbion NV, Zimmer Biomet, and Royal DSM, hold a
substantial share in the market.

Key Topics Covered

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 New Innovations in the Field of Polymeric Biomaterials

4.2.2 Increasing Applications of Polymeric Biomaterials in Tissue
Engineering

4.3 Market Restraints

4.3.1 Complications Associated with Polymeric Biomaterials

4.3.2 Stringent Regulatory Guidelines

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Application

5.1.1 Neurology

5.1.2 Cardiology

5.1.3 Orthopedics

5.1.4 Ophthalmology

5.1.5 Wound Care

5.1.6 Other Applications

5.2 Geography

5.2.1 North America

5.2.2 Europe

5.2.3 Asia-Pacific

5.2.4 Middle East & Africa

5.2.5 South America

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 BASF SE

6.1.2 Bezwada Biomedical LLC

6.1.3 Corbion N.V.

6.1.4 Covestro AG

6.1.5 Evonik Industries AG

6.1.6 Royal DSM

6.1.7 Starch Medical Inc.

6.1.8 Victrex PLC

6.1.9 W. L. Gore and Associates

6.1.10 Zimmer Biomet

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/research/8j59ft/global_77_22?w=4

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Topics: Plastics,
Biomaterials