Regional Analysis
Global Polymeric Biomaterials Market- Regional Insights
- North America is expected to be the largest market for polymeric biomaterials during the forecast period, accounting for over 7% of the market share in 2023. The presence of leading medical device manufacturers and biotechnology companies in the U.S. and Canada has created a huge demand for polymeric biomaterials in this region. The advanced healthcare infrastructure and higher healthcare expenditure per capita has enabled greater adoption of biomaterials-based medical products and therapies. Strong governmental support for biomedical research and the rapid translation of new technologies from the research labs into commercial products provides North American companies an edge over their global competitors.
- Asia Pacific market is expected to be the second-largest market for polymeric biomaterials market, accounting for over 25.2% of the market share in 2023. The Asia Pacific region has emerged as the fastest-growing market for polymeric biomaterials. Countries like China, Japan, India and South Korea are witnessing substantial economic growth which is improving access to healthcare. Growing medical requirements of the expanding middle class, along with rising aging populations, is driving significant investments into developing local biomaterials Existing industrial strengths in polymer manufacturing and processing also provide local supply networks for biomaterials producers. Lower manufacturing costs and a large talent pool of scientific professionals are enabling Asia Pacific (APAC)-based companies to produce high-quality biomaterials at competitive prices. This is attracting many multinational players to set up regional manufacturing hubs and research and development (R&D) centers in the Asia Pacific region.
- Europe market is expected to be the fastest-growing market for polymeric biomaterials market, with a share of 19.0% during the forecast period. The growth of the market in Europe is due to the increasing prevalence of coronary artery disease in the region.
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
Figure 1. Global Polymeric Biomaterials Market Share (%), By Region, 2023
U.S.: 
U.K. : 
India : 
