In a recently published report, Global Biomaterials Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Biomaterials Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Biomaterials market is valued at approximately USD 33.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.1 % over the forecast period 2020-2027. Biomaterials are synthetic or natural materials which are chemically derived and used in medical technology to enhance the functionality of damaged tissues and organs. These biomaterials are used to communicate with biological processes to treat cardiovascular, dental, orthopedic, and neurological diseases for medical purposes. In addition, in various advanced medical technology, such as tissue engineering, plastic surgery, drug delivery systems, and other medical implants, biomaterial science is applied. Over the last few years, the need for and use of biomaterials in various medical applications has increased dramatically throughout the world. In the form of loans, funds and grants, many government bodies and universities have extended their assistance to support research on the production of novel biomaterials. For example, in March 2018, Drexel University awarded USD 200,000 to the National Science Foundation for research on how biomaterial-mediated regulation of macrophage activity affects vascularization of biomaterials. These research and funding initiatives are expected to boost the production of innovative biomaterials, providing a range of opportunities for the market for biomaterials to expand. However, high cost of biomaterial production, incidence of inflammatory responses due to compatibility issues, may impede the market growth over the forecast period of 2020-2027.
The regional analysis of the global Biomaterials market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share, owing to rise in biomaterial-based research, increasing demand for plastic surgeries. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, due to the rising prevalence of cardiac disorders and growing pacemaker procedures in India and china.
Major market player included in this report are:
Olympus Terumo Biomaterials Corporation
Evonik Industries Texas Instruments
Mitsubishi Chemical Holdings Corporation
AB Specialty Silicones
Berkeley Advanced Biomaterials
Zeus Industrial Products, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.
Target Audience of the Global Biomaterials market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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