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Biocompatible Materials Market

Rising Adoption of Biocompatible Materials in Global Market Driven by Increasing Demand for Medical Implants and Devices

Biocompatible Materials Market by Materials (Polymers, Metal, Ceramic and Composites) Polymers held a market share of around 68.0% in the global market, in 2022.

Biocompatible Materials Market Outlook (2023 to 2033)

The global revenue from the Biocompatible Materials Market was approximately US$ 171.6 Million in 2022, with the global market expected to grow at a CAGR of 8.8% to reach a valuation of approximately US$ 436.4 Million by the end of 2033.

Market Size (2023)

US$ 187.9 Million

Projected Market Value (2033)

US$ 436.4 Million

Global Market Growth Rate (2023 to 2033)

8.8% CAGR

Market Share of Top 5 Countries (2022)

59.0%

As assessed by Persistence Market Research, polymers held a market share of around 68.0% in the global market, in 2022. Overall, biocompatible materials market sales account for around 2.6% of revenue share in the global orthopedic and prosthetic market, which was valued at around US$ 6.6 Billion in 2022.

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Sales Analysis of Market from 2015 to 2022 Vs Market Outlook for 2023 – 2033

The Global Biocompatible Materials Market recorded a historic CAGR of 8.1% in the last 7 years from 2015 to 2022.

Biocompatible materials are nonviable materials that do not cause an adverse reaction in tissues and are biocompatible at the specific body locations. These nonviable materials are used in medicines that interface with microbiological systems.

In production of biocompatible materials ceramics, metals, PMMA (acrylic), polyurethane, natural or synthetic polymers, silicone, stainless steel, Teflon and Dacron, titanium and its alloys and are the primary materials utilized. These biocompatible materials provide long-term compatibility with features like corrosion resistance, non-toxicity, with lack of carcinogenicity and non-immunogenicity with no rejection in tissue environment, which all contribute to a surge in their demand for various applications.

Biocompatible materials are also useful as implants for bone plates, dental implants, joints, drug delivery, sutures, surgical or medical instruments for replacement or restoration of tissues or organs. Biocompatible materials help to improve people's lives and save millions of lives. Biocompatible materials are being expanded because of advanced biomedical technologies, rising demand for cosmetic implants, drug delivery systems, pharmaceutical excipients, tissue engineering, and wound dressing.

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How Can the Global Market Grow?

“Adoption of Advanced 3D and 4D printing biocompatible materials for medical applications”

Employing medical-grade polymers and biocompatible raw materials, 3D printing and 4D printing technology are currently gaining popularity in the development of patient-specific implants and treatment-specific pharmaceuticals. Biomaterials are easy to mold, biodegradable, and cost effective.

As a result, medical device manufacturers and biopharmaceutical companies are increasingly adopting technologically developed biocompatible materials. For instance, DuPont Company presented its novel semi-crystalline materials for 3D applications at RAPID + TCT in April 2019. Advanced semi-crystalline materials will likely increase the 3D printing industry's product segment at RAPID + TCT.

According to published article of prosthesis in the journal of ‘Evidence-Based Complementary and Alternative Medicine’ in 2021, materials for dental implants include calcium phosphate, bioactive ceramics, collagen, fluoride, and titanium nitride. Biomaterials must naturally dissolve; polyhydroxyalkanoates are one example of a biodegradable substance that does not injure tissues or cells by producing bleeding, movement, or peri-implant infections.

The number of dermatology treatments has increased rapidly, due to rising personal disposable income and consumer awareness about personal appearance. According to published article of ‘Biomaterials for Skin Substitutes’ in Advanced Healthcare Materials Journal in 2017, a composite scaffold or matrix composed with natural and synthetic biomaterials can make it possible to create skin substitutes attributed to all clinical requirements, along with specific wound size and type, degree of burns or other skin problems, patient age, and available preparation technique.

According to the American Board of Plastic Surgery, the average plastic surgeon in the U. S. performed 320 surgical procedures in 2021, a rise from 220 in 2020.

In the future of the medical sector, silicone will be crucial for 3D printing silicone prosthetics and tissue engineering for breast augmentations.

According to a study on ‘Recent development of biocompatible nanocarriers with cancer cell targeting efficiency in targeted photodynamic therapy’, published in the journal ‘Frontiers in Chemistry’ in 2022, biocompatible nanoparticles have crucial role in targeted photodynamic therapy (PDT) for cancers such as brain tumors and breast cancer. Some advanced nanoengineering applications, such as intracellular organelle targeting, dual receptor targeting strategies, and useful nanocarriers, will have a significant impact on current treatment methods.

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Can the Market Growth Be Affected in Any Way?

“Volatility in Biocompatible Material Prices and Hurdles in Regulatory Approvals “

Price volatility in biocompatible materials can be attributed to a variety of factors, including economic growth, interest rates, attractiveness, regional availability of domestic raw materials, demand for services and goods, and various political considerations.

Manufacturers in the medical biocompatible materials market frequently sign contracts requiring them to purchase the commodity in the agreed-upon quantities and at the agreed-upon prices. As a result, an unexpected increase in the cost of raw materials and key components is likely to result in higher costs, which is expected to hamper manufacturer business and, as a result, restrain growth of the medical biocompatible materials market during the forecast period.

Sometimes, common medical procedures would not be possible without the use of medical devices. Despite being one of the fastest-growing fields, the sale and manufacturing of medical devices is governed by a wide range of regulations, which tends to make the field frequently complicated by legal procedures.

Approval authorities in a variety of ways recognize product clearance for the market. For instance, In the European Union, the manufacturer places the CE (European conformity) mark on the device after receiving the EC (Declaration of Conformity) certificate from a notified body. Because of the European Medical Agency's stringent regulatory policies for material approval, many products are delayed, or fail to reach the market, impeding the growth of the biocompatible materials market.

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Country-wise Insights

Why is the United States Market Booming?

“Rising Market Penetration of Research & Advanced 3D and 4D Printing Biocompatible Materials”

The United States accounted for around 31.2% market share in the global market in 2022 as a result of the expanding medical device manufacturing industry in the region.

The United States is anticipated to account for the largest market share over up-coming years for the biomedical materials market due to increase in biomaterial-based research and development. The rising demand is primarily driven by an increasing market penetration of biocompatible materials in various applications, such as, breast augmentation, cosmetic surgery, wound treatment, and rising incidence of cancer and cardiovascular diseases, as well as advancements in biotechnology.

The United States leads the global market in terms of volume because of rising demand of biocompatible 3D and 4D printing materials.

Will the United Kingdom Be a Lucrative Market for Biocompatible Materials?

“Advanced Technologically Designed Biocompatible Materials Demand & Awareness of Cosmetic Surgeries, Dental Healthcare”

The United Kingdom (U.K.) market held around 8.1% market share of the global market in 2022.

In the United Kingdom Biocompatible Materials contribute to increased manufacturing of orthopedic prosthetics with advanced technological design, owed to increased occurrence of injuries and road accidents. According to data on road accidents in Great Britain released in 2020 on Gov.UK, the number of reports of serious and minor injuries from accidents was 22,069 and 92,055, respectively.

The United Kingdom also has the largest dental implant market due to the presence of a strong dental healthcare system as well as favorable reimbursement policies. Rising demand for dental surgeries, as well as the prevalence of various oral diseases, is driving demand for dental implants in the United Kingdom. Cosmetic procedures such as breast augmentation and reduction are also popular in the U.K. Botox and dermal fillers, such as Restylane, are in high demand due to their low cost.

How is China Emerging as a Prominent Market?

“Development of Advanced 3D Imaging in Implant Featured With Quicker Recovery Time”

China held a market share of about 8.3% of the East Asia market in 2022.

China is already a second largest economy in the world and also investing in the development of the market for advanced biocompatible materials by recognizing the useful medical applications like fashion industry for cosmetic surgery, and others like cancer tumour treatment.

For instance, according to a 2018 article on brain-controlled neuroprostheses published in ‘Frontiers in Neuroscience’, these devices, like myoelectric prostheses, enhance the input and output of neural systems. Brain-controlled neuroprostheses have ability to enhance the quality of life of people with severe motor disabilities. Such controlled brain activity translates it into functional electrical stimulation device or robotic limb.

Other innovations include 3D imaging and mini implants, which require minimal incisions, are less expensive, and have a quicker recovery time.

Category-wise Insights

Which Material is Driving Demand within the Global Market?

“Excellent Physical, Chemical, and Biological Properties of Polymers for Various Medical Applications”

Polymers segment held about 68.0% share of the global market in 2022.

The synthetic polymers market has become lucrative because of unique properties of physical, chemical, and biological properties such as ability to change into 3D matrix structure, matrix with mechanical self- reinforcement. monomer units, polymerization reaction, and co-polymers formations play critical roles in tissue engineering and regenerative medicine which rely heavily on the technique of 3D porous scaffolds.

The U.S. is dominating in the use the polymer like poly (methyl methacrylate) biocompatible materials for the use of contact lenses, intraocular lenses, bone cement, orthodontic therapy, and vascular stent. Other polymers types like polyamides and polyesters have medical applications like synthetic suture materials.

Which application is increasing the Global Market?

“Biomaterials are Clinical Tool in Healthcare Technologies with Surgical and Instruments Application”

Surgical and medical instruments application segment will hold around 35.7% share of the total market in 2023.

According to a review article published in the ‘International Journal of Pharmaceutical Sciences and Research’ in 2023, biocompatible materials are important and used in science and healthcare technologies such as bone plates, joints, and medical devices such as artificial hearts, blood tubes, and pacemakers to improve functions by replacing and restoring damaged tissues for a longer life. This displays an emphasis on the applications of biocompatible materials in surgical and medical instruments, driving market expansion.

Which End User is helping to expand the Global Market?

“Rising Demand of FDA Premarket Reviewed Medical Device Materials for Safety and Effectiveness.”

Medical device manufacturers will hold around 46.2% share of the total market in 2023.

Key manufacturers are focusing on biocompatible device design, such as cardiac bioabsorbable stents with small reinforcing metal meshes, which allow for increased blood flow by enlarging blood openings. Key players manufacture medical devices based on the needs of patients, so medical devices are classified as class I for non-contact items, class II for contacts lasting less than 30 days, and class III for contacts lasting 30 days or longer.

The US Food and Drug Administration (FDA) premarket reviews raw materials for medical devices manufacturing for safety and effectiveness by inspecting the materials, intended uses, and function. For example, the FDA announced Medical Device Safety Action Plan in 2018 for comprehensive review of metals used in implanted medical devices in 2018 because of patient concerns and reported adverse events potentially related to biological responses to certain types of materials in medical devices.

Competition Landscape

The key players are implementing market strategies like customizing materials for medical device manufacturing at a lower cost, innovative 3D printer launch activities, focusing on various market coalition activities like partnership, merger, introducing a new product, supply distribution partnerships, and increasing market competition.

For instance –

  • In May 2019, MakerBot, the subsidiary of Stratasys, launched new METHOD Carbon Fiber Editions, which offer advanced next level of 3D printing. The METHOD Carbon Fiber enables engineers to construct jigs, fixtures, etc.
  • In May 24, 2022, Foster Corporation collaborated with AdvanSource Biomaterials Corporation for distribution and manufacturing of specialty thermoplastic polyurethane (TPU) products like valves, catheters, and sutures for specific applications in healthcare market.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the biocompatible materials market, which are available in the full report.

Biocompatible Materials Industry Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2015 to 2022

Market Analysis

US$ Million for Value

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Türkiye
  • GCC Countries
  • North Africa
  • South Africa

Key Market Segments Covered

  • Material Application
  • End User
  • Region

Key Companies Covered

  • Dupont
  • Ensinger
  • Stratasys Ltd.
  • Covestro AG
  • Foster Corporation
  • Merck KGaA
  • BASF SE (Exxon Mobil Corporation)
  • Wacker Chemie AG
  • Celanese Corporation
  • Royal DSM
  • Evonik Industries AG
  • Shin-Etsu Chemical Co. Ltd.
  • Henkel AG &Co.

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Biocompatible Materials Industry Research

Material:

  • Polymers
    • Natural
      • Hyaluronic Acid
      • Chitosan
      • Hydroxyapatite
      • Others
    • Synthetic
      • Poly (methyl methacrylate) (PMMA)
      • Polyurethane
      • Polyester
      • Polytetrafluoroethylene
      • Silicone
      • Polyethylene Terephthalate
      • Others
  • Metal
  • Ceramic
  • Composites

Application:

  • Surgical & Medical Instruments
    • Brain Surgery
    • Cosmetic and Plastic Surgery
    • Vascular Surgery
    • Cardiovascular Surgery
    • Others
  • Implants
    • Orthopedic
    • Cardiac
    • Dental
  • Drug Delivery
  • Others

End User:

  • Medical Device Manufacturers
  • Academic and Research Institutes
  • Biopharmaceutical & Pharmaceutical Companies

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA)

- Companies Covered in This Report -

  • Dupont
  • Ensinger
  • Stratasys Ltd.
  • Covestro AG
  • Foster Corporation
  • Merck KGaA
  • BASF SE (Exxon Mobil Corporation)
  • Wacker Chemie AG
  • Celanese Corporation
  • Royal DSM
  • Evonik Industries AG
  • Shin-Etsu Chemical Co. Ltd.
  • Henkel AG & Co.

- Frequently Asked Questions -

The global market is currently valued at around US$ 171.6 Million in 2022.

Sales of the market are set to witness growth at a CAGR of 8.8% and be valued at around US$ 436.4 Million by 2033.

Demand for the global market increased at an 8.1% CAGR from 2015 to 2022.

The U.S., China, Japan, the U.K., and India account for most demand within the market, and were holding around 59.0% market share in 2022.

Synthetic polymer materials will hold market share of around 78.4% in 2023, within the global market.

Dupont, Ensinger, Stratasys Ltd., Covestro AG, Foster Corporation, Merck KGaA, BASF SE (Exxon Mobil Corporation), Wacker Chemie AG, Celanese Corporation, Royal DSM, Evonik Industries AG, Shin-Etsu Chemical Co. Ltd., and Henkel AG &Co are the key players of biocompatible materials sector.

The U.S. accounts for around 31.2% share of the North American market in 2022.

Europe accounts for around 29.5% share of the global market in 2022.

The China market held a share of about 8.3% in the East Asia biocompatible materials market in 2022.

The biocompatible materials market in India is holding 5.8% market share in 2022.

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