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Polymeric Biomaterials Market size is anticipated to grow significantly from 2023 to 2032 as they are used as alternatives to materials like metals and alloys.
Biomaterials are defined as organic or inorganic substances that are designed to interact with a variety of biological systems to support medical treatment. They are biocompatible, non-toxic, or biodegradable. They are widely used in medical applications like regenerative medicine and much more, due to their re-processability and other advantages. The characteristics of this product like superior corrosion resistance, chemical stability, and low cost. In the upcoming years, polymeric biomaterials market development will be fueled by the growing use of polymeric biodegradable biomaterials in medical applications such as implantable devices, drug delivery, and surgical sutures.
High prevalence of chronic diseases such as cancer and cardiovascular disorders (CVD) would influence polymeric biomaterials market trends. As per the World Health Organization, around 17.9 million people die from CVDs each year, making them the world's top cause of mortality. Biomaterials are used in the restoration and replacement of cardiovascular tissues. The demand for polymeric biomaterials for bone regeneration techniques is expected to be driven further by a rise in healthcare spending and the prevalence of osteogenesis imperfecta (OI) in developed nations like the United States.
Geographically, the Latin American polymeric biomaterials market is estimated to exhibit a robust development by 2032, supported by promising economic conditions and expansion in the pharmaceutical sector across nations like Brazil. Polymeric functional biomaterials are utilized in drug delivery systems to transfer therapeutic compounds into the body, which offers multinational pharmaceutical companies prevailing in the region with new preogression prospects. Furthermore, the use of polymeric biopolymers in brain tissue engineering will increase with the rising age-standardized years of people living with a neurological disability.
In terms of application, the ophthalmology segment is projected to witness significant growth in view of the rising prevalence of vision impairment caused by corneal opacity. The study of natural materials to address the drawbacks of allogenic corneal transplants has become more important in the field of corneal tissue engineering to treat corneal injuries. An expanding range of applications for biopolymers in intraocular lenses and implants for retinal detachment procedures will further fuel the market outlook in the coming years.
Companies like Covestro AG, Corbion N.V., Royal DSM, W. L. Gore and Associates, Bezwada Biomedical, LLC, Zimmer Biomet, and Invibio Ltd. (Victrex) are some of the leading solution providers in the global polymeric biomaterials market.
The Russia-Ukraine war has disrupted businesses globally due to delays in supplies. The impact on trade cycles has influenced manufacturing and production activities. With the war, companies relying on Russia have started to look out for different sources of raw materials. As manufacturers change their suppliers, the market progress is expected to take an upward trend over the coming years.