Brazil biomaterials market is expected to reach USD 5.18 billion in 2022 and is anticipated to grow at a CAGR of 18.30% between 2017 and 2022.
Zion Market Research has published a new report titled Biomaterials Market (Cardiovascular Biomaterials, Orthopedic Biomaterials, Wound Care Biomaterials, Urological Biomaterials Plastic Surgery Biomaterials and Gastrointestinal Biomaterials) by Materials (Ceramics, Metals and Polymers) for Drug Delivery, Dental Products, Surgical Appliances & Supplies, General Surgery, Electromedical Equipment and Other Applications: Brazil Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022
According to the report, demand for Brazil biomaterials market in was valued at over USD1.89 billion in 2016, is expected to reach above USD 5.18 billion in 2022 and is anticipated to grow at a CAGR of slightly above 18.30% between 2017 and 2022.
Biomaterials are synthetic, natural, solid or liquid, which are mainly used in medical devices, biological systems.In recent times, biomaterials are also used to grow cells in culture, processing bimolecular in biotechnology, bio-inert to assay for blood proteins in the clinical laboratory, for fertility regulation implants in cattle, in diagnostic gene arrays. Biomaterials are also used in the aquaculture of oysters and for investigational cell-silicon “biochips.”
Rising prevalence of diverse diseases has led to huge growth in the healthcare sector. This factor is expected to fuel the growth of the biomaterials market in the coming years. Growing aging population in Brazil is likely to positively impact on the growth of the biomaterials market in the forecast period. Biomaterials are used in various applications such as contact lens, dental, gene transfer, skin repair and in drug delivery system among others. This factor may stimulate the biomaterial market growth in the upcoming years. Hectic lifestyle along with increasing demand for western food has led to high cardiovascular diseases. Hence, rising cardiovascular disease may trigger the growth of the biomaterials market in the forecast period. Nevertheless, ongoing research for debio-inert materials may provide ample opportunities to the biomaterials market in the forecast period. Moreover, tremendously expanding healthcare sector in Brazil and growing medical tourism may foster the market in the coming years.
The biomaterials market can be segmented into products which include cardiovascular biomaterials, orthopedic biomaterials, wound care biomaterials, urological biomaterials plastic surgery biomaterials and gastrointestinal biomaterials. Cardiovascular biomaterials can be further sub-segmented into vascular access devices, cardiac stents, artificial heart valves, peripheral vascular grafts, cardiac pacemakers and implantable cardioverter defibrillators. Orthopedic biomaterials consist of implantable cardioverter defibrillators, trauma orthopedic biomaterials, trauma orthopedic biomaterials, bone cement, ortho biologics biomaterials, and reconstructive biomaterials. Orthopedic biomaterials comprise high product penetration. Therefore, orthopedic biomaterials will specter huge demand in the coming years. Moreover, owing to unhealthy lifestyle there has been tremendous growth in the cardiovascular diseases which has led to the high usage of cardiovascular biomaterials. The materials mainly used in biomaterials are ceramics, metals, and polymers. Biomaterials possess diverse applications, some of which includes drug delivery, dental products, surgical appliances & supplies, general surgery, electromedical equipment and other applications.
There has been the sharp rise in the healthcare industry in Brazil owing to low healthcare cost. Brazil stands as the fifth largest country area wise and in population.The healthcare sector has undergone rapid transformation owing to the new business paradigm in Brazilian healthcare market.This factor is expected to trigger the growth of biomaterials market in this region in the upcoming years. An increasing number of life expectancy among the aging population may boost the biomaterials market in the forecast period. Moreover, Brazil is considered as the most favorable destination for medical tourism owing to its superior medical facilities, high-quality services, and low cost for treatment. This aspect is likely to bolster the growth of the biomaterial market.
Allergan Inc., Artimplant Ab, Alphatec Spine Inc, Biomet Inc., Synthes Inc., Integra Life Sciences Holdings Corporation, Wright Medical Group, Inc., Stryker Corporation, Baxter International Inc. and Boston Scientific Corporation are some of the major players operating in the biomaterials market in Brazil. Due to various favorable government regulations many of the major companies are pulling towards Brazil. (Source: SBWire)