Biomaterials Market worth $47.5 billion by 2025 - Growth and Business Opportunities in Coming Years

The global biomaterials market size is projected to reach USD 47.5 billion by 2025, growing at a CAGR of 6.0%.

The global biomaterials market size is projected to reach USD  47.5 billion by 2025 from USD  35.5  billion in 2020, at a CAGR of 6.0% during the forecast period. Market growth is driven mainly by factors such as the increased funds grants by government bodies worldwide for the development of novel biomaterials, rising demand for medical implants, and the rising incidence of cardiovascular diseases, increasing research on regenerative medicine.

 

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The global biomaterials market is highly consolidated. Key players in the biomaterials market include BASF SE (Germany), Covestro AG (Germany), Celanese Corporation (US), Corbion (Netherlands), Royal DSM (Netherlands), Evonik Industries (Germany), Carpenter Technology Corporation (US), Berkeley Advanced Biomaterials (US), Cam Bioceramics B.V. (Netherlands), CoorsTek Inc. (US), CeramTec (Germany), and Gelita AG (Germany). Acquisitions and product launches are the key growth strategies undertaken by these companies to maintain their positions in the market.

 

BASF SE (Germany)

 

BASF is one of the leading players in the biomaterials market. The company focuses on various organic and inorganic means to enhance its presence in the market. The company also focuses on expanding its global production capacity and invests ~USD 450 million per year in optimizing its plants. Additionally, BASF aims at developing its portfolio with innovations and investments.

 

Covestro AG (Germany)

 

Covestro is another key player in the biomaterials market. The company offers a wide range of biomaterials for the healthcare industry. The company invests majorly in the maintenance and expansion of its production facilities.

 

Celanese Coorporation (US)

 

Celanese is one of the key players in the biomaterials market. The company has a wide range of product offerings, including biomaterials for medical devices and drug delivery systems. A comprehensive range of products, high focus on RD, and strong geographical presence are the key factors contributing to the leading position of the company in this market.

 

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Recent Developments

  • Royal DSM (Netherlands) and ProMed Pharma (US) partnered for the development of novel sustained release drug delivery solutions in the polymeric drug delivery area.
  • Covestro AG (Germany) signed an MoU with a group of ten companies and two research organizations with an aim to build a Composite Application Center (CAC) in Singapore. This was aimed to develop end-to-end solutions for advanced composites, such as thermoplastic materials.
  • Celanese Corporation (US) announced an expansion of its production facility of thermoplastic co-polyesters. This expansion is expected to support the demand of its global engineered

Frequently Asked Questions (FAQ):

  • What is the impact of COVID-19 on the biomaterials market?
  • Who are the key players in the biomaterials market?
  • Which type dominates in the Biomaterials market?
  • Which application segment of the global biomaterials market is expected to witness the highest growth?
  • What is the market for biomaterials?

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