Biomaterials are artificially derived natural materials that are used in medical applications such as organ transplantation and replacement of tissues. The global market for medical devices was accounted to $240 billion in 2013. This shows the potential for growth of biomaterial market. Increase in aging population is the major driver for biomaterial market. Due to the increase in number of aging patients, the usage of biomaterial in wound healing, plastic surgery, neurology and tissue engineering is increasing. According to the Society for Biomaterials, there are more than 5000 novel research article published every year for improved wound care techniques and surgical devices. Biomaterials market growth is hindered by certain factors such as inflammatory responses and strict government regulations for commercialization. In 1999, Government of Norway conducted “Dental Biomaterial- Adverse Reaction Unit” activity to control and evaluate adverse implication in dental fields.
The global biomaterial market is challenged by above restraints; however, companies are developing novel techniques to overcome these challenges. Companies are collaborating to build extra competitive advantage in biomaterial market. For Example, Wright Medical Group recently acquired BioMimetic Therapeutics Inc. to explore opportunities for Wright’s Extermities business. This report provides key strategies adopted by top players engaged in this business. The report provides regulatory intelligence for biomaterial according to geographies.
Key companies included in the report are Morgan Tecxhnical Ceramics, BASF SE, Collagen Matrix Inc., Wright Medical Group Inc., Bayer AG, Kyocera Corporation, Cam Bioceramics BV, Ticona Gmbh, Noble Biomaterials Inc., and Biomet Inc
KEY MARKET SEGMENTS
BY TYPE OF MATERIAL