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Biomedical Materials Market Will Generate New Growth Opportunities by 2020

Press Release   •   Feb 06, 2017 03:08 EST

North America dominates the global market for biomedical materials due to large number of aging population and broad technical applications of biomedical materials in the region. Europe, followed by Asia, is expected to experience high growth rate in the next few years in global biomedical materials market. China and India are expected to be the fastest growing biomedical materials markets in Asian region. Some of the key driving forces for biomedical materials market in emerging countries are increasing R&D investment, large pool of patients and rising government funding.

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Aging population, increasing prevalence of chronic diseases and growing awareness for availability of different types of biomaterials has been driving the global biomedical materials market. In addition, improvement in healthcare facilities and technological advancement has been driving the biomedical materials market. However, high cost involved and lack of experienced professionals has been restraining the global biomedical materials market.

Emerging markets hold a great potential for growth of biomedical materials market. Innovation of some new products with better efficacy is expected to offer good opportunity for biomedical materials market. Side effects such as burning sensation and others are a challenge for biomedical materials market. Some of the latest trends that have been observed in the biomedical materials market include growing popularity of bioabsorbable materials and companies involved in partnerships and collaborations. In addition, companies have been involved in R&D of new products.

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Some of the major companies dealing in global biomedical materials market include Johnson & Johnson, 3M Healthcare, DSM Biomedical, Biomet, Smith & Nephew. Other companies having significant presence in the biomedical materials market include CR Bard, RTI Biologics, Wright Medical, Zimmer and Tornier.

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