Global orthopaedic devices market set to grow at 5% CAGR through to 2022
The global orthopaedic devices market will continue to grow between 2016 and 2022, based on a Market Research Engine report.
Three noteworthy observations:
1. The market is likely to continue to grow at a compound annual growth rate of 5% (between 2016 and 2022). 2. The market is set to hit $47.5b by 2022. 3. Small companies entering the market with highly innovative products are driving growth by creating business opportunities in the global market.
Global biomaterials market to grow at 16% CAGR through to 2021
The global biomaterials market is anticipated to hit $149.17 billion by 2021, according to a MarketsandMarkets report.
Seven noteworthy observations:
1. In 2016, the market was worth $70.9b. 2. The market will grow at a compound annual growth rate of 16% through to 2021. 3. More government funds and grants, an increased number of cardiovascular diseases, as well as technological advancements, will spur on market growth. 4. Other market drivers include the expansion of the implantable devices market and the increasing awareness of tissue engineering. 5. The polymeric biomaterials segment is set to see the most rapid growth through to 2021, because of the growing use of polymers in tissue applications. 6. The Asia-Pacific market is set to see the most rapid growth in the forecast period. 7. Key market players include:
Royal DSM in Heerlen, Netherlands
BASF SE in Ludwigshafen, Germany
Corbion N.V. in the Netherlands
Covestro in Leverkusen, Germany
Invibio in Lancashire, U.K.
Carpenter Technology Corp. in Wyomissing, Pa.
Evonik Industries in Essen, Germany
Berkeley (Calif.) Advanced Biomaterials
CAM Bioceramics in Leiden, Netherlands
Celanese Corp. in Summit, Ill.