The global Biomaterial Market is estimated to reach $88.4 billion by 2017 from $44.0 billion in 2012, growing at a CAGR of 15%. Increased investments, funding and grants by government bodies worldwide, incessant rise in the number of collaborations, conferences and research-related activities, technological advancements, increasing applications of biomaterials, and growing number of elderly people are the major factors propelling the growth of the biomaterial market globally. The global biomaterial market is dominated by North America, followed by Europe, Asia, and Rest of the World (RoW). North America will continue to lead the biomaterial market in the years to come, followed by Europe.
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