Polymeric Biomaterials Market Size, Share, and Trends 2024 to 2033

Polymeric Biomaterials Market (By Product: Polylactic Acid, Polyglycolic Acid, Polyurethanes, Polytetrafluoroethylene, Polyaryletheretherketone, Polydioxanone, Others; By Application: Neurology, Cardiology, Dental, Plastic Surgery, Orthopedics, Ophthalmology, Wound Care, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033

  • Last Updated : June 2024
  • Report Code : 4485
  • Category : Chemical and Material

Polymeric Biomaterials Market Size and Growth

The global polymeric biomaterials market size was USD 51.20 billion in 2023, calculated at USD 59.67 billion in 2024, and is expected to reach around USD 236.81 billion by 2033. The market is expanding at a solid CAGR of 16.55% over the forecast period 2024 to 2033.

Polymeric Biomaterials Market Size 2024 to 2033

To Access our Exclusive Data Intelligence Tool with 15000+ Database, Visit: Precedence Statistics

Polymeric Biomaterials Market Key Takeaways

  • The North America polymeric biomaterials market size is exhibited at USD 19.97 billion in 2023 and is expected to attain around USD 93.54 billion by 2033, poised to grow at a CAGR of 16.69% between 2024 and 2033.
  • North America dominated the market with the largest revenue share of 39% in 2023.
  • Asia Pacific is expected to expand at the fastest CAGR of 21.45% during the forecast period.
  • By product, the polylactic acid segment accounted for the biggest revenue share of 22% in 2023.
  • By product, the polytetrafluoroethylene segment is projected to grow at a notable CAGR of 21.81% during the forecast period.
  • By application, the orthopedics segment has held the largest revenue share of 25% in 2023.
  • By application, the plastic surgery segment is expected to grow at a significant CAGR of 21.40% during the forecast period.

U.S. Polymeric Biomaterials Market Size and Growth 2024 to 2033

The U.S. polymeric biomaterials market size surpassed USD 14.98 billion in 2023 and is projected to be worth around USD 70.62 billion by 2033, poised to grow at a CAGR of 16.77% from 2024 to 2033.

U.S. Polymeric Biomaterials Market Size 2024 to 2033

North America held the dominant share of the polymeric biomaterials market in 2023. The region is observed to witness prolific growth during the forecast period owing to the presence of sophisticated healthcare infrastructure, high healthcare expenditure, an increasing number of medical devices manufacturers and biotechnological companies, increasing demand for polymeric biomaterials in surgeries, rising requirement of implantable prostheses, growing demand tissue engineered products, and growing demand for plastic and heart surgeries.

Several prominent players are investing in polymer biomaterials-based research which is expected to drive growth of the polymeric biomaterials market in this region.

Polymeric Biomaterials Market Share, By Region, 2023 (%)

In addition, it increases the adoption of polymeric biomaterials-based medical products and therapies due to the rising focus on biodegradable polymers for sustainability, rapid advancement development of 3D printing technologies for customized medical implants, and rising improvements in nanotechnologies for specific drug delivery. Furthermore, the market’s rapid growth is highly influenced by the increasing demand for polymeric biomaterials in various medical applications due to the geriatric population, and the rising prevalence of chronic illnesses such as cardiovascular, neurological, orthopedics, dental, and others.

  • According to the Amputee Coalition, in the United States, nearly 185,000 people have an amputation each year, 507 people lose a limb every day in the United States, and roughly 2.1 million people currently live with limb loss. It is anticipated that by 2050, 3.6 million people will be living with limb loss. As a treatment, prosthetic devices improve the quality of life.
  • According to the Commonwealth Fund report published in January 2023, the United States spends roughly 18 percent of GDP on health care. The U.S. spends 3 to 4 times more on health care than South Korea, New Zealand, and Japan.

Asia Pacific is observed to expand at a rapid pace in the polymeric biomaterials market during the forecast period. The region’s growth is driven by the increasing number of cardiology surgeries, the rising aging population, the rising demand for polymeric biomaterials in surgeries, the rise in medical expenditure, the high frequency of chronic disorders, and rising investments in R&D activities to improve the reliability and safety of polymeric biomaterials. Additionally, the key market players involved in the development of groundbreaking solutions for reconstructive surgical procedures are expected to boost the growth of the polymeric biomaterials market in the region.

Market Overview

Polymeric biomaterials are made from polymers and are used for various biological applications. These biomaterials are generally designed for interaction with biological systems for a wide range of medical and biomedical purposes. Polymeric biomaterials tend to duplicate and improve the function of natural tissues and organs in the body. These are gaining immense popularity in numerous sectors such as wound healing, regenerative medicine, medication delivery, medical implants, surgical implants, tissue engineering, and others.

Polymeric biomaterials find application in medical devices owing to their superior properties including easy fabrication, cost-effective in comparison with metal materials, and biocompatibility. It reduces the risk of developing an infection. It is used as implantable to treat several illnesses or injuries to improve human health by regaining the function of tissue and organs in the body.

Polymeric Biomaterials Market Growth Factors

  • Integration of biotechnology and materials science leading to the creation of advanced polymeric biomaterials with tailored properties.
  • Development of smart biomaterials that can respond to physiological conditions and release therapeutic agents as needed.
  • Innovations in 3D printing and biofabrication techniques enabling customized biomaterial implants and devices.
  • Significant investment by public and private sectors in the development of new polymeric biomaterials and their applications.
  • Collaborative efforts between academic institutions, research organizations, and industry players to advance biomaterial science.
  • Growth of clinical trials and studies exploring new uses and benefits of polymeric biomaterials.

Polymeric Biomaterials Market Scope

Report Coverage Details
Market Size by 2033
USD 236.81 Billion
Market Size in 2023 USD 51.20 Billion
Market Size in 2024 USD 59.67 Billion
Market Growth Rate from 2024 to 2033 CAGR of 16.55%
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered Product, Application, and Regions
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

 

Polymeric Biomaterials Market Dynamics

Driver

Rising aging population

The growing geriatric population across the globe is anticipated to fuel the market’s expansion during the forecast period. The geriatric population is more susceptible to chronic diseases including heart disease, orthopedic problems, dental problems, endovascular disease, and others which increases the demand for polymeric biomaterials. Moreover, the rising number of aging populations suffering from orthopedic problems, such as knee injuries, hip injuries, and arthritis that require surgeries which in turn increases the use of implants made from polymeric biomaterials to replace a particular failed body part, thus assisting elderly patients to restore the function of the affected part and boost the growth of the polymeric biomaterials market.

According to Golden State Orthopedics & Spine 2024, tennis elbow is very common and affects more than 200,000 people in the U.S. annually. Men and women are equally affected and people ages 30 to 50 are most commonly affected.

Restraint

High cost

The high cost associated with biomaterial-based products is anticipated to hamper the polymeric biomaterials market’s growth. Biomaterial-based implants and devices are more expensive than conventional treatment options. An individual needs to invest high capital to undergo such surgeries. High-cost poses challenges in middle-and lower-income countries with limited healthcare budgets and lower per capita income. In addition, the presence of stringent clinical & regulatory complexities may limit the adoption and restrict the expansion of the global polymeric biomaterials market.

Opportunity

Increasing incidence of chronic diseases

The increasing prevalence of chronic diseases is projected to offer lucrative opportunities to the polymeric biomaterials market during the forecast period. The use of polymeric biomaterials has significantly increased to meet the requirements of biomedical applications. It is widely used as an implanted medical device to treat various wounds and diseases as well as to improve the function of damaged organs and tissues. To improve performance and long-term stability, businesses are spending more on polymeric biomaterial for medical devices. In addition, for medicinal purposes, polymeric biomaterials are used to interact with biological systems for treating various diseases such as cardiovascular neurological, dental, orthopedic, and others. Therefore, the increasing application of polymeric biomaterials is expected to boost the market’s expansion in the coming years.

  • According to secondary resources, more than 37.5 million people worldwide are affected by this common type of heart arrhythmia, and by 2050 the number of cases will increase by 60 percent.

Product Insights

The polylactic acid segment accounted for the dominating share in the polymeric biomaterials market in 2023. Polylactic Acid (PLA) is extensively used for a wide range of biomedical applications including orthopedics implants, tissue engineering, drug delivery, and others. It is generated from renewable resources. The market has experienced an increasing preference for PLA over metallic implants and increasing emphasis on eco-friendly materials is anticipated to spur the demand for polylactic acid-based products in several industries.

The polytetrafluoroethylene segment is observed to grow at a notable rate in the polymeric biomaterials market during the forecast period. The ongoing advancements in medical technology and the increasing demand for high-performance materials in medical devices drive the growth of the PTFE segment. Innovations in surgical techniques and implantable devices often rely on materials with the unique properties that PTFE offers. PTFE is thermally stable over a wide range of temperatures. This stability is important for sterilization processes, ensuring that the material retains its properties after repeated sterilization cycles.

Application Insights

The orthopedics segment held the largest share of the polymeric biomaterials market in 2023. The segment is expected to sustain the position throughout the forecast period owing to the high frequency of orthopedic diseases. Due to biocompatibility, adaptability, and ongoing improvement in biomaterial technology, polymeric biomaterials are widely used in implants and medical equipment. The versatility offered by polymeric biomaterials facilitates the development of groundbreaking therapies and medical devices to enhance performance and safety. Therefore, increasing cases of orthopedic problems encourage researchers to discover innovative treatment options using polymeric biomaterials. Such factors drive the growth of the segment.

  • According to a study presented at the 2023 American Academy of Orthopaedic Surgeons (AAOS) Annual Meeting. The study, “Epidemiology of Sports Injuries Among High School Athletes in the United States,” found that an estimated 5,228,791 sports injuries occurred nationally. The study marks the epidemiologic data has been updated since 2006.

The plastic surgery segment is expected to grow significantly during the forecast period in the polymeric biomaterials market owing to the increasing demand for plastic surgeries including rhinoplasty, breast augmentation, liposuction, facelifts, and others for improving aesthetic appearance standards in society and social media. According to the report fone by the International Society of Aesthetic Plastic Surgery, breast surgeries, especially breast augmentation was observed to be the most common surgical procedure for women with 2.2 million procedures in 2021.

Polymeric Biomaterials Companies

Polymeric Biomaterials Market Companies

  • BASF SE
  • W. L. Gore and Associates
  • Ticona
  • Berkeley Advanced Biomaterials
  • Medtronic
  • Bayer
  • DSM Biomedical
  • Covestro
  • Victrex
  • Evonik Industries
  • Silon
  • Sarla Performance Fibers
  • Stein Fibers
  • Invibo
  • Purac Biomaterials
  • Mitsui
  • Toray Industries
  • Covalon Technologies
  • Corbion
  • Polyfibre Industries
  • Synthes
  • Bezwada Biomedical
  • Green Fiber International
  • Koninklijke
  • Starch Medical
  • Zimmer Biomet
  • Royal
  • Osteotech
  • Swicofil
  • Stryker Corporation

Recent Developments

  • In July 2022, Corbion collaborated with STENTiT and Vivolta for the development of a regenerative stent for clinical use and treatment of patients suffering from critical limb ischemia.
  • In April 2023, Novo Nordisk and Aspect Biosystems, a company that makes bioprinted biomaterials, developed bioprinted tissue therapeutics for diabetes and obesity.
  • In March 2023, Invibio Ltd. announced the launch of 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 January 2023, the Firehawk Liberty Rapamycin Target Eluting Coronary Stent System from MicroPort Scientific Corporation has been authorized for commercialization in Russia. The company's geographic reach is anticipated to expand with this clearance.
  • In January 2023, MicroPort Scientific Corporation gained marketing clearance for their Firehawk Liberty Rapamycin Target Eluting Coronary Stent System in Russia.

Segments Covered in the Report

By Product

  • Polylactic Acid
  • Polyglycolic Acid
  • Polyurethanes
  • Polytetrafluoroethylene
  • Polyaryletheretherketone
  • Polydioxanone
  • Others

By Application

  • Neurology
  • Cardiology
  • Dental
  • Plastic Surgery
  • Orthopedics
  • Ophthalmology
  • Wound Care
  • Others

By Geography

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

Frequently Asked Questions

The global polymeric biomaterials market size is expected to increase USD 236.81 billion by 2033 from USD 51.20 billion in 2023.

The polymeric biomaterials market is anticipated to grow at a CAGR of over 16.55% between 2024 and 2033

The major vendors operating in the polymeric biomaterials market are BASF SE, W. L. Gore and Associates, Ticona, Berkeley Advanced Biomaterials, Medtronic, Bayer, DSM Biomedical, Covestro, Victrex, Evonik Industries, Silon, Sarla Performance Fibers, Stein Fibers, Invibo, Purac Biomaterials, Mitsui Toray Industries, Covalon Technologies, Corbion, Polyfibre Industries, Synthes, Bezwada Biomedical, Green Fiber International, Koninklijke, Starch Medical, Zimmer Biomet, Royal, Osteotech, Swicofil , and Others.

The driving factors of the polymeric biomaterials market are the rising number of aging populations suffering from orthopedic problems and integration of biotechnology and materials science.

North America region will lead the global polymeric biomaterials market during the forecast period 2024 to 2033.

Proceed To Buy

USD 5400
USD 3800
USD 2100
USD 2100
USD 7500

Ask For Sample

No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client