The demand for biocompatible materials is expected to increase over the next few years, according to a new analysis from the Freedonia Group, reported in the Business Standard.
Here are eight things to know from the report:
1. The United States biocompatible materials market is expected to increase 4.9 percent annually to reach $5.6 billion in 2018.
2. Synthetic polymers are expected to remain a top-selling product group by far. This is due to quality, performance and cost advantages for a broad range of applications.
3. Ceramic materials are expected to generate the fastest long-term growth in demand.
4. Nanotechnology advancement could lead to improved orthopedic implant, spinal fixation device, dental repair and restoration products compounds.
5. The fastest in demand among the metals will be titanium and titanium allows due to the heavy strength, light weight and shape memory qualities.
6. However, alternative polymer materials will spark competition and hold down revenues that other biocompatible metals generate, including precious metals and stainless steel.
7. The demand for biocompatible polymers is expected to increase 4.7 percent to $3.2 billion in 2018.
8. Engineered resins will continue fast revenue and volume growth, especially:
• Thermoplastic elastomer
• Silicone
• Sulfone
• Polyketone