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Aging population and relatively shorter medical device product life cycles continue to drive the biocompatible material industry. Driven by potential applications in major areas of biomaterial application, including cardiovascular, orthopedic, neurological, and drug delivery, the market is projected to reach about $44.8 billion by 2012.
Rapid development of tissue engineering as a prime technology in research sciences is largely anticipated to shape the future of biocompatible materials in coming years. In addition, other factors to reckon with include advancements in fundamental understanding of biocompatibility science, expanding arena of coating technology, and the development of novel synthetic materials for medical applications. Nanotechnology is also used in creating very small, compact biomaterial devices including drug delivery vehicles and medical implants. Biocompatible materials are fast turning out to be a challenging area of research in the biosciences field. Several innovative products such as total artificial heart system, pneumatic total artificial heart, artificial blood vessels, and artificial blood among others are being developed that can be effectively used as substitutes for human body parts.
North American market for biocompatible materials, the largest worldwide is estimated at $13.7 billion for 2008 as stated by Global Industry Analysts, Inc. Europe represents the second largest market. The three regions collectively account for nearly 80% of the global biocompatible materials market. Polymeric biocompatible materials market in Europe is estimated at $7.6 billion for 2008. Market for metallic biocompatible materials in North America is projected to record a CAGR of 5.4% over the period 2000-2010. Natural biocompatible materials market in Japan is expected to reach $500 million by 2012.
The global marketplace is relatively concentrated and characterized by several well-established players. Market participants include Angiotech Pharmaceuticals, Artimplant, AP Pharma, AST Products, Biocoat, BIOSYNTECH, DENTSPLY International, Invibio, Integra LifeSciences, Orthovita, SaluMedica, SurModics, Synthes and United States Surgical.
"Biocompatible Materials: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, product profile, players, competition, technological developments, new product introductions, recent developments, mergers, acquisitions, alliances and other strategic industry activities. Analysis is presented for major geographic markets such as North America, Japan and Europe. Analytics are provided for the period 2000-2015, in terms of product segments including Polymeric Materials, Metallic Materials and Natural Materials.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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Global Industry Analysts, Inc.
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