Polymeric Biomaterials Market Size, Trends and Insights By Product (Polylactic Acid, Polyglycolic Acid, Polyurethanes, Polytetrafluoroethylene, Polyaryletheretherketone, Polydioxanone, Others), By Application (Cardiovascular, Dental, Orthopaedic, Plastic Surgery, Neurology, Other), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Stryker
- BASF SE
- Evonik Industries AG
- DSM
- Bezwada Biomedical LLC
- Corbion
- Others
Reports Description
Global Polymeric Biomaterials Market was valued at USD 51.9 Billion in 2023 and is expected to reach USD 165.5 Billion by 2032, at a CAGR of 16.6% during the forecast period 2023 – 2032.
Polymeric biomaterials are substances made from polymers that are used in a variety of biological applications. These materials are designed for interaction with biological systems in medicinal, diagnostic, or research applications.
Polymeric biomaterials are intended to duplicate or improve the functionality of natural tissues and organs in the body. They can be designed with precise chemical, mechanical, and biological qualities that correspond to the desired application, which includes medication delivery, tissue engineering, wound healing, surgical implants, and regenerative medicine.
Polymeric Biomaterials Market: Growth Factors
Increasing orthopaedic and dental applications
The growing necessity for polymeric biomaterials in orthopaedic and dental applications is largely due to their distinct features that provide benefits over conventional materials. Polymeric biomaterials provide desired properties such as biological compatibility, durability, and variable degradation rates, which make them ideal for application in implants, scaffolds, and other medical devices.
These materials are utilized in orthopaedics for bone regeneration, joint replacement, and fracture repair because they can replicate the mechanical qualities of real bone tissue. In dentistry, polymeric biomaterials are used for dental implants, fillings, and tissue engineering to restore or replace broken teeth and surrounding tissues.
As advances in polymer chemistry and processing techniques remain constant, the polymeric biomaterial market is projected to significantly rise, driven by the increasing need for new innovative solutions in orthopaedics and dentistry to address aging populations and rising healthcare demands globally.
For instance, infection rates in orthopaedic implant procedures across the world range from 2% to 10% in wealthy countries and can reach 15% in less developed places. Researchers are now developing a novel covering for orthopaedic implants, such as knee and hip replacements, with a strong potential to prevent infections and encourage bone formation.
ASCs have gained in popularity in recent years due to their higher efficiency compared to hospital outpatient departments, with a 47% increase in average monthly claim volume at ASCs between 2020 and 2021. By the mid-2020s, 68% of orthopaedic procedures are expected to take place in ASCs.
Growing applications of polymeric biomaterials in tissue engineering
Animal feed preservatives are critical for ensuring the integrity and safety of feed components, particularly in microbially contaminated settings. Polymeric Biomaterials, with their antibacterial qualities, are currently being utilized as a feed preservative to prevent spoiling and increase the shelf life of livestock feed.
Polymeric Biomaterials protect the nutritional value of feed by limiting the growth of unwanted bacteria and fungus, lowering the risk of feed-borne illnesses in animals. Furthermore, Polymeric Biomaterials function as an acidifier, creating a favorable pH environment in animals’ digestive systems, which can promote nutrient absorption and general health.
For instance, the global biological materials market is expected to reach USD 47.5 billion by 2025, up from USD 35.5 billion in 2020. This is most likely due to the increasing development of novel tissue engineering, the need for medical implants, and the rising prevalence of cardiovascular disease. Furthermore, a significant need for this sort of material in plastic surgery, which will lead to its widespread application.
Polymeric Biomaterials Market: Restraints
High cost of biomaterial-based products
The high price of biomaterial-based goods is a key impediment to the expansion of the polymeric biomaterials industry. Polymeric biomaterial creation and production processes frequently need sophisticated machinery, specialized equipment, and severe regulatory requirements, all of which contribute to increased manufacturing costs.
Furthermore, the intricacy of developing polymeric biomaterials with exact characteristics customized to specific medicinal applications raises expenses. These costs are ultimately passed on to customers, making biomaterial-based goods more expensive than traditional alternatives. As a result, healthcare practitioners and customers are unwilling to use these items, especially in areas that have tight healthcare budgets.
Polymeric Biomaterials Market: Opportunities
Increased adoption of biodegradable polymers
Numerous significant reasons are driving the polymeric biomaterial market, including a rise in the use of biodegradable polymers. Rising awareness of environmental sustainability has prompted an evolution toward biodegradable materials in a variety of industries, notably healthcare and biological applications.
Biodegradable polymers have the benefit of lowering environmental effects by degrading into non-toxic components over time. Furthermore, in clinical uses that include as drug delivery systems and tissue engineering scaffolds, biodegradable polymers reduce the need for surgical removal after treatment, minimizing patient discomfort and the possibility of problems.
Moreover, regulatory bodies are promoting the use of biodegradable materials in medical devices and implants. As a result, demand for polymeric biomaterials made from biodegradable polymers is increasing, resulting in market development driven by their positive ecological profile.
For instance, Hydroxyapatite has recently gained popularity as a material for the manufacturing of biodegradable metal implants, such as magnesium (Mg). Much research has demonstrated that adding hydroxyapatite to the magnesium matrix improves the biocompatibility, mechanical characteristics, and corrosion-resistant properties of the resulting products.
Researchers in Portugal recently created a biodegradable magnesium-based nanocomposite comprising hydroxyapatite nanoparticles and fluorapatite (FA) microparticles for medicinal purposes.
Polymeric Biomaterials Market: Segmentation Analysis
The Global Polymeric Biomaterials market is segmented by product, application, and region. Based on grade, the market is classified into polylactic acid, polyglycolic acid, polyurethanes, polytetrafluoroethylene, polyaryletheretherketone, polydioxanone and others.
Polylactic acid dominated the market in 2022 with a market share of 35% and is expected to keep its dominance during the forecast period 2024-2032. Polylactic acid (PLA) is a key driver of the polymeric biomaterial industry due to its biological compatibility, biodegradability, and adaptability.
PLA, a renewable and biodegradable polymer generated from natural resources like maize starch or sugarcane, has gained popularity in biomedical applications. Its capacity to decompose into not hazardous derivatives makes it ideal for application in medical implants, medication delivery systems, tissue engineering scaffolds, and wound dressings.
PLA’s mechanical characteristics may be modified to mimic those of diverse tissues, increasing its usefulness in regenerative medicine. Furthermore, its processing versatility enables the creation of complicated structures using techniques such as 3D printing and electrospinning.
With an increased emphasis on environmentally friendly materials and improvements in medical devices, PLA continues to fuel innovation and growth in the polymer polymeric biomaterial market.
Based on application, the market is classified into cardiovascular, dental, orthopaedic, plastic surgery, neurology and others. Orthopaedic segment dominated the market in 2022 with a market share of 30% and is expected to keep its dominance during the forecast period 2024-2032.
The orthopaedic sector dominates the polymeric biomaterial market owing to the growing need for novel materials in orthopaedic implants and devices. Polymeric biomaterials exhibit various benefits in orthopaedic applications, such as biocompatibility, customizable mechanical characteristics, and the capacity to promote tissue integration and regeneration.
These materials are widely utilized in orthopaedic implants, including joint replacements, spinal implants, bone screws, and plates.
Furthermore, biomaterials made of polymers may be designed to mimic the mechanical characteristics of real bone, lowering the chance of implant failure and improving patient outcomes. With an aging population and an increasing frequency of orthopaedic disorders such as osteoarthritis and fractures, there is a greater demand for improved biomaterials that may boost the lifespan and effectiveness of orthopaedic implants.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 51.9 Billion |
| Projected Market Size in 2032 | USD 165.5 Billion |
| Market Size in 2022 | USD 49.3 Billion |
| CAGR Growth Rate | 16.6% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Product, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Polymeric Biomaterials Market: Regional Analysis
By region, Polymeric Biomaterials market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominated the global polymeric biomaterials market in 2022 with a market share of 45% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.
North America is a key driver of the polymeric biomaterial market for a variety of reasons. The region has a strong healthcare infrastructure and significant investments in R&D, which encourages advancement in biomaterial technologies.
Furthermore, North America possesses a high prevalence of chronic illnesses and an aging population, increasing demand for innovative medical treatments and implants that frequently use polymeric biomaterials.
In addition, the existence of significant industry players, academic institutions, and federal initiatives promoting biomedical research and commercialization all help to drive the region’s polymeric biomaterial market forward.
Furthermore, favourable regulatory rules and reimbursement systems encourage the use of polymeric biomaterials in a variety of medical applications. In summary, North America’s incorporation of technical innovation, market demand, and supporting environment positions it as a key player in the around the globe polymeric biomaterials market.
Furthermore, North America has a vast pool of competent specialists in material science, bioengineering, and medicine, which makes it easier to develop and commercialize novel polymeric biomaterial products. The region’s robust intellectual property enforcement environment also fosters spending on R&D, resulting in additional improvements in polymeric biomaterial technology.
Polymeric Biomaterials Market: Recent Developments
- In January 2023, MicroPort Scientific Corporation gained marketing clearance for their Firehawk Liberty Rapamycin Target Eluting Coronary Stent System in Russia.
- On March 8, 2023, Invibio Ltd., a medical device company launched its PEEK-OPTIMA AM filament. This product is particularly intended for the additive manufacturing sector of the medical device industry, providing optimal performance and precision.
- In February 2023, Victrex plc expanded Invibio’s medical scientific and technological capabilities by announcing the commencement of operations of a new product development facility in Leeds, UK.
List of the prominent players in the Polymeric Biomaterials Market:
- Stryker
- BASF SE
- Evonik Industries AG
- DSM
- Bezwada Biomedical LLC
- Corbion
- Invibio Ltd.
- International Polymer Engineering
- Covalon Technologies Ltd.
- Medtronic
- Abbott
- Elixir Medical
- REVA Medical LLC
- Meril Life Sciences Pvt. Ltd.
- MicroPort Scientific Corporation
- DuPont de Nemours Inc.
- Celanese Corporation
- Covestro AG
- Collagen Matrix Inc.
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Polymeric Biomaterials Market is segmented as follows:
By Product
- Polylactic Acid
- Polyglycolic Acid
- Polyurethanes
- Polytetrafluoroethylene
- Polyaryletheretherketone
- Polydioxanone
- Others
By Application
- Cardiovascular
- Dental
- Orthopaedic
- Plastic Surgery
- Neurology
- Other
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Polymeric Biomaterials Market, (2024 – 2033) (USD Billion)
- 2.2 Global Polymeric Biomaterials Market: snapshot
- Chapter 3. Global Polymeric Biomaterials Market – Industry Analysis
- 3.1 Polymeric Biomaterials Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Increasing orthopaedic and dental applications
- 3.2.2 Growing applications of polymeric biomaterials in tissue engineering
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Product
- 3.7.2 Market Attractiveness Analysis By Application
- Chapter 4. Global Polymeric Biomaterials Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Polymeric Biomaterials Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Polymeric Biomaterials Market – Product Analysis
- 5.1 Global Polymeric Biomaterials Market Overview: By Product
- 5.1.1 Global Polymeric Biomaterials Market Share, By Product, 2022 and – 2033
- 5.2 Polylactic Acid
- 5.2.1 Global Polymeric Biomaterials Market by Polylactic Acid, 2024 – 2033 (USD Billion)
- 5.3 Polyglycolic Acid
- 5.3.1 Global Polymeric Biomaterials Market by Polyglycolic Acid, 2024 – 2033 (USD Billion)
- 5.4 Polyurethanes
- 5.4.1 Global Polymeric Biomaterials Market by Polyurethanes, 2024 – 2033 (USD Billion)
- 5.5 Polytetrafluoroethylene
- 5.5.1 Global Polymeric Biomaterials Market by Polytetrafluoroethylene, 2024 – 2033 (USD Billion)
- 5.6 Polyaryletheretherketone
- 5.6.1 Global Polymeric Biomaterials Market by Polyaryletheretherketone, 2024 – 2033 (USD Billion)
- 5.7 Polydioxanone
- 5.7.1 Global Polymeric Biomaterials Market by Polydioxanone, 2024 – 2033 (USD Billion)
- 5.8 Others
- 5.8.1 Global Polymeric Biomaterials Market by Others, 2024 – 2033 (USD Billion)
- 5.1 Global Polymeric Biomaterials Market Overview: By Product
- Chapter 6. Global Polymeric Biomaterials Market – Application Analysis
- 6.1 Global Polymeric Biomaterials Market Overview: By Application
- 6.1.1 Global Polymeric Biomaterials Market Share, By Application, 2022 and – 2033
- 6.2 Cardiovascular
- 6.2.1 Global Polymeric Biomaterials Market by Cardiovascular, 2024 – 2033 (USD Billion)
- 6.3 Dental
- 6.3.1 Global Polymeric Biomaterials Market by Dental, 2024 – 2033 (USD Billion)
- 6.4 Orthopaedic
- 6.4.1 Global Polymeric Biomaterials Market by Orthopaedic, 2024 – 2033 (USD Billion)
- 6.5 Plastic Surgery
- 6.5.1 Global Polymeric Biomaterials Market by Plastic Surgery, 2024 – 2033 (USD Billion)
- 6.6 Neurology
- 6.6.1 Global Polymeric Biomaterials Market by Neurology, 2024 – 2033 (USD Billion)
- 6.7 Other
- 6.7.1 Global Polymeric Biomaterials Market by Other, 2024 – 2033 (USD Billion)
- 6.1 Global Polymeric Biomaterials Market Overview: By Application
- Chapter 7. Polymeric Biomaterials Market – Regional Analysis
- 7.1 Global Polymeric Biomaterials Market Regional Overview
- 7.2 Global Polymeric Biomaterials Market Share, by Region, 2022 & – 2033 (USD Billion)
- 7.3. North America
- 7.3.1 North America Polymeric Biomaterials Market, 2024 – 2033 (USD Billion)
- 7.3.1.1 North America Polymeric Biomaterials Market, by Country, 2024 – 2033 (USD Billion)
- 7.3.1 North America Polymeric Biomaterials Market, 2024 – 2033 (USD Billion)
- 7.4 North America Polymeric Biomaterials Market, by Product, 2024 – 2033
- 7.4.1 North America Polymeric Biomaterials Market, by Product, 2024 – 2033 (USD Billion)
- 7.5 North America Polymeric Biomaterials Market, by Application, 2024 – 2033
- 7.5.1 North America Polymeric Biomaterials Market, by Application, 2024 – 2033 (USD Billion)
- 7.6. Europe
- 7.6.1 Europe Polymeric Biomaterials Market, 2024 – 2033 (USD Billion)
- 7.6.1.1 Europe Polymeric Biomaterials Market, by Country, 2024 – 2033 (USD Billion)
- 7.6.1 Europe Polymeric Biomaterials Market, 2024 – 2033 (USD Billion)
- 7.7 Europe Polymeric Biomaterials Market, by Product, 2024 – 2033
- 7.7.1 Europe Polymeric Biomaterials Market, by Product, 2024 – 2033 (USD Billion)
- 7.8 Europe Polymeric Biomaterials Market, by Application, 2024 – 2033
- 7.8.1 Europe Polymeric Biomaterials Market, by Application, 2024 – 2033 (USD Billion)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Polymeric Biomaterials Market, 2024 – 2033 (USD Billion)
- 7.9.1.1 Asia Pacific Polymeric Biomaterials Market, by Country, 2024 – 2033 (USD Billion)
- 7.9.1 Asia Pacific Polymeric Biomaterials Market, 2024 – 2033 (USD Billion)
- 7.10 Asia Pacific Polymeric Biomaterials Market, by Product, 2024 – 2033
- 7.10.1 Asia Pacific Polymeric Biomaterials Market, by Product, 2024 – 2033 (USD Billion)
- 7.11 Asia Pacific Polymeric Biomaterials Market, by Application, 2024 – 2033
- 7.11.1 Asia Pacific Polymeric Biomaterials Market, by Application, 2024 – 2033 (USD Billion)
- 7.12. Latin America
- 7.12.1 Latin America Polymeric Biomaterials Market, 2024 – 2033 (USD Billion)
- 7.12.1.1 Latin America Polymeric Biomaterials Market, by Country, 2024 – 2033 (USD Billion)
- 7.12.1 Latin America Polymeric Biomaterials Market, 2024 – 2033 (USD Billion)
- 7.13 Latin America Polymeric Biomaterials Market, by Product, 2024 – 2033
- 7.13.1 Latin America Polymeric Biomaterials Market, by Product, 2024 – 2033 (USD Billion)
- 7.14 Latin America Polymeric Biomaterials Market, by Application, 2024 – 2033
- 7.14.1 Latin America Polymeric Biomaterials Market, by Application, 2024 – 2033 (USD Billion)
- 7.15. The Middle-East and Africa
- 7.15.1 The Middle-East and Africa Polymeric Biomaterials Market, 2024 – 2033 (USD Billion)
- 7.15.1.1 The Middle-East and Africa Polymeric Biomaterials Market, by Country, 2024 – 2033 (USD Billion)
- 7.15.1 The Middle-East and Africa Polymeric Biomaterials Market, 2024 – 2033 (USD Billion)
- 7.16 The Middle-East and Africa Polymeric Biomaterials Market, by Product, 2024 – 2033
- 7.16.1 The Middle-East and Africa Polymeric Biomaterials Market, by Product, 2024 – 2033 (USD Billion)
- 7.17 The Middle-East and Africa Polymeric Biomaterials Market, by Application, 2024 – 2033
- 7.17.1 The Middle-East and Africa Polymeric Biomaterials Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 8. Company Profiles
- 8.1 Stryker
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 BASF SE
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 Evonik Industries AG
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 DSM
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 Bezwada Biomedical LLC
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 Corbion
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 Invibio Ltd.
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 International Polymer Engineering
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 Covalon Technologies Ltd.
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 Medtronic
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.11 Abbott
- 8.11.1 Overview
- 8.11.2 Financials
- 8.11.3 Product Portfolio
- 8.11.4 Business Strategy
- 8.11.5 Recent Developments
- 8.12 Elixir Medical
- 8.12.1 Overview
- 8.12.2 Financials
- 8.12.3 Product Portfolio
- 8.12.4 Business Strategy
- 8.12.5 Recent Developments
- 8.13 REVA Medical LLC
- 8.13.1 Overview
- 8.13.2 Financials
- 8.13.3 Product Portfolio
- 8.13.4 Business Strategy
- 8.13.5 Recent Developments
- 8.14 Meril Life Sciences Pvt. Ltd.
- 8.14.1 Overview
- 8.14.2 Financials
- 8.14.3 Product Portfolio
- 8.14.4 Business Strategy
- 8.14.5 Recent Developments
- 8.15 MicroPort Scientific Corporation
- 8.15.1 Overview
- 8.15.2 Financials
- 8.15.3 Product Portfolio
- 8.15.4 Business Strategy
- 8.15.5 Recent Developments
- 8.16 DuPont de Nemours Inc.
- 8.16.1 Overview
- 8.16.2 Financials
- 8.16.3 Product Portfolio
- 8.16.4 Business Strategy
- 8.16.5 Recent Developments
- 8.17 Celanese Corporation
- 8.17.1 Overview
- 8.17.2 Financials
- 8.17.3 Product Portfolio
- 8.17.4 Business Strategy
- 8.17.5 Recent Developments
- 8.18 Covestro AG
- 8.18.1 Overview
- 8.18.2 Financials
- 8.18.3 Product Portfolio
- 8.18.4 Business Strategy
- 8.18.5 Recent Developments
- 8.19 Collagen Matrix Inc.
- 8.19.1 Overview
- 8.19.2 Financials
- 8.19.3 Product Portfolio
- 8.19.4 Business Strategy
- 8.19.5 Recent Developments
- 8.20 Others.
- 8.20.1 Overview
- 8.20.2 Financials
- 8.20.3 Product Portfolio
- 8.20.4 Business Strategy
- 8.20.5 Recent Developments
- 8.1 Stryker
List Of Figures
Figures No 1 to 27
List Of Tables
Tables No 1 to 52
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Stryker
- BASF SE
- Evonik Industries AG
- DSM
- Bezwada Biomedical LLC
- Corbion
- Invibio Ltd.
- International Polymer Engineering
- Covalon Technologies Ltd.
- Medtronic
- Abbott
- Elixir Medical
- REVA Medical LLC
- Meril Life Sciences Pvt. Ltd.
- MicroPort Scientific Corporation
- DuPont de Nemours Inc.
- Celanese Corporation
- Covestro AG
- Collagen Matrix Inc.
- Others
FAQs
The restraints of the Polymeric Biomaterials market is high cost of biomaterial-based products.
The major driver for the Polymeric Biomaterials market is increasing orthopaedic and dental applications and growing applications of polymeric biomaterials in tissue engineering.
The “Polylactic Acid” category dominated the market in 2022.
The key players in the market are Stryker, BASF SE, Evonik Industries AG, DSM, Bezwada Biomedical LLC, Corbion, Invibio Ltd., International Polymer Engineering, Covalon Technologies Ltd., Medtronic, Abbott, Elixir Medical, REVA Medical LLC, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, DuPont de Nemours Inc., Celanese Corporation, Covestro AG, Collagen Matrix Inc., Others.
“North America” had the largest share in the Polymeric Biomaterials Market.
The global market is projected to grow at a CAGR of 16.6% during the forecast period, 2023-2032.
The Polymeric Biomaterials Market size was valued at USD 51.9 Billion in 2023.