Biomaterials Market Summary

The global biomaterials market size was estimated at USD 178.0 billion in 2023 and is projected to reach USD 488.70 billion by 2030, growing at a CAGR of 15.6% from 2024 to 2030. The growing incidence of musculoskeletal and chronic skeletal medical conditions is expected to stimulate the demand for implants based on biomaterials, thereby enhancing market expansion. As the aging population increases globally, the need for medical interventions that improve mobility, manage pain, and support structural integrity of bones continues to rise, further supporting the use of biocompatible materials in healthcare.

The increasing prevalence of chronic conditions such as osteoarthritis and degenerative diseases intensifies the demand for advanced biomaterials. Joint replacements and augmentations become essential interventions for individuals facing limited mobility and pain due to these conditions. Metallic biomaterials address this need by offering durable and long-lasting solutions that integrate with the body, restoring functionality and enhancing the quality of life for affected individuals. Technological advancements continually refine biomaterials, tailoring them to meet specific medical requirements. Innovations focus on improving biocompatibility, corrosion resistance, and the ability to integrate seamlessly with biological systems. Additionally, ongoing research in regenerative medicine and tissue engineering is expanding the scope of applications for biomaterials, supporting improved healing and better treatment outcomes.

Key Market Trends & Insights

  • The North America dominated the overall biomaterials market in 2023, driven by advanced healthcare infrastructure, high adoption of innovative medical technologies, and strong research and development investments.
  • Based on product, the metallic segment held the largest revenue share of over 40.0% in 2023 due to its superior mechanical strength and widespread usage in orthopedic and dental implants.
  • Based on application, the orthopedic segment accounted for the largest revenue share in 2023, as orthopedic surgeries continue to rise alongside sports injuries, trauma cases, and age-related bone disorders.

Order a free sample PDF of the Biomaterials Market Intelligence Study, published by Grand View Research.

Market Size & Forecast

  • 2023 Market Size: USD 178.0 Billion
  • 2030 Projected Market USD 488.70 Billion
  • CAGR (2024-2030): 15.6%
  • North America: Largest market in 2023
  • Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

The market players are adopting product approval to increase the reach of their products in the market and improve the availability of their products in diverse geographical areas, along with expansion as a strategy to enhance production/research activities. In addition, several market players are acquiring smaller players to strengthen their market position. This strategy enables companies to increase their capabilities, expand their product portfolios, and improve their competencies.

Key Players

  • Medtronic
  • Evonik Industries AG
  • Carpenter Technology Corporation
  • Berkeley Advanced Biomaterials
  • Invibio Ltd.
  • Zimmer Biomet Holdings, Inc
  • BASF SE
  • Covalon Technologies Ltd.
  • Stryker
  • Johnson & Johnson
  • Dentsply Sirona
  • CoorsTek Inc.;Corbion
  • Regenity Biosciences

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The global biomaterials market is expected to witness robust growth over the coming years as healthcare systems increasingly adopt advanced materials to enhance patient outcomes. Rising rates of chronic diseases, expanding geriatric populations, and growing demand for minimally invasive surgical solutions are key drivers supporting market development. Ongoing technological innovation in material science is enabling the creation of next-generation biomaterials with improved biological response and enhanced durability. Moreover, expanding applications in cardiovascular, dental, and neurological treatments will further contribute to market expansion. As research advances in tissue regeneration and custom implants accelerate, biomaterials will continue to play a vital role in future medical solutions.