5 trends expected to drive $603B market growth for orthopedic, dental and ophthalmologic materials

The global biomaterials market will grow at a 17.9 percent compound annual rate through 2031, according to a report from Fremont, Calif.-based market research firm BIS Research. The market was valued at $122.92 billion in 2020 and is expected to reach $725.88 billion by 2031.

Metal-based biomaterials used in orthopedic, dental and maxillofacial procedures account for the biggest market share, and the report predicts that trend will continue.

By region, North America is the biggest market for biomaterials.

Here are five trends driving the growth of the market:

  1. Growing demand for implantable devices.
  2. More patients seeking treatment for orthopedic disorders, increasingly at ASCs.
  3. Increasing plastic surgery interest.
  4. Growth in the elderly population.
  5. Rising government funds for research.

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