Polymer Biomaterials Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Polymeric Biomaterials Market Analysis

The polymeric biomaterials market is expected to grow with a CAGR of 15.63% during the forecast period.

The studied market was impacted by the pandemic. The footfall in hospitals and other clinics was decreased due to the increased rate of infection from the SARS-CoV-2 virus which impacted the new as well as ongoing diagnosis and treatment services of the orthopedic diseases, impacting the studied market. For instance, according to the Ortho Bethesda report 2020, a study estimated that about 82% of orthopedic surgeries across the world were canceled due to the COVID-19 pandemic. According to a research study published in July 2020 by Ana C. Gonzales-Luna et. Al., a reduction in the pacemaker implant of 73 was observed during the COVID-19 pandemic period, and a reduction of 78% of patients with the diagnosis of complete or high-grade atrioventricular block and a reduction in the de-novo pacemaker implant was observed, regardless of the etiology. The study was in the landscape of Peru and shows the impact of the COVID-19 pandemic on implant procedures in the country. In addition, as per an August 2020 update by the Agency for Healthcare Research and Quality, the outbreak of coronavirus disease 2019 (COVID-19) effectively shut down approximately 198,000 active dentists and dental specialists in the United States, which led to disruption in the dental services, including implant placement. Even though dental services have resumed in many places now, there is still a fear among people regarding infection, which is expected to have a negative impact on the growth of the market studied. Although, with the ongoing large-scale vaccination program and decreasing infection rate and severity, the demand for implants is expected to go back to pre-COVID times, and the market studied would gain its full potential over the years.

Innovations in the field of polymeric biomaterials and increasing applications of polymeric biomaterials in tissue engineering are the factors that are responsible for the growth of the market. For instance, according to a research study published in December 2020 titled 'The prevalence of rheumatoid arthritis in Spain', the estimated prevalence of rheumatoid arthritis in Spain was 0.82%, with a mean age of 60.48 years. Rheumatoid arthritis was more prevalent in women as compared to men, and as arthritis is majorly common in the geriatric population, the growing global geriatric population is further expected to increase the burden of arthritis, which is expected to have a positive impact on the growth of the studied market. As per a March 2020 update by the World Health Organization (WHO), it is estimated that oral diseases affect nearly 3.5 billion people worldwide and severe periodontal (gum) disease, which may result in tooth loss, is also very common. With almost 10% of the global population affected and this might lead to an increase in the demand for dental implants, driving growth in the biomaterials market. Also, as per the 2021 International Congress of Oral Implantologists (ICO), edentulism is the clinical word for being wholly or partially toothless or having one or more missing teeth and the causes of edentulism in humans are most often cavities, poor oral hygiene, gum disease, bone loss, and other periodontal issues. Hence, the increasing prevalence and high burden of dental diseases are expected to have a positive impact on the growth of the polymeric biomaterials market as it will lead to higher demand for implant devices. Thus, the abovementioned factors are expected to increase market growth.

However, complications associated with polymeric biomaterials and stringent regulatory guidelines are expected to hinder the market growth.

Polymeric Biomaterials Market Trends

This section covers the major market trends shaping the Polymeric Biomaterials Market according to our research experts:

Orthopedic Segment is Expected to Hold a Significant Market Share Over the Forecast Period

Polymeric Biomaterials Industry Segmentation

As per the scope, polymeric biomaterials refer to synthetic, natural, and hybrid materials that are applied in the field of therapeutics and pharmaceuticals. The similarities between natural tissues, proteins, polysaccharides, and synthetic polymers with their long-chain architecture lead to the reasonable conclusion that synthetic polymers are better representations of natural tissue response when compared to metals and ceramics. The polymeric biomaterials market is segmented by application (neurology, cardiology, orthopedics, ophthalmology, wound care, and other applications), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across the major regions globally. The report offers the values (USD million) for the above segments.