MEDICAL ENGINEERED MATERIALS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Medical Engineered Materials Market Size and Trends

Global medical engineered materials market is expected to reach US$ 59 Bn by 2031, from US$ 24.6 Bn in 2024, exhibiting a CAGR of 13.3% during the forecast period.

Global Medical Engineered Materials Market- Trends

• Rising adoption of 3D printing: The market is significantly benefitting from the rapid adoption of 3D printing or additive manufacturing technologies for fabrication of intricate and tailor-made engineered biomaterials, implants, prosthetics and organ models. 3D bioprinting in particular facilitates precise deposition of biomaterials and living cells layer by layer to create complex tissues and organs. Companies are leveraging 3D printing to develop patient-specific implants and devices based on their body’s structure. Customization and on-demand manufacturing abilities are key factors driving integration of 3D printing in engineered biomaterials and expanding its applications. For instance, according to reports by the Food and Drug Administration, the number of medical devices and materials receiving marketing authorization after 3D printing rose over 30% from 2020 to 2021. While still a small fraction of overall clearances, it indicates the great potential of this innovative technology.
• Increasing demand for nanomaterials: Nanotechnology-enabled engineering of biomaterials at molecular level is gaining importance, owing to the unique functionalities achieved at nanoscale. Nanostructured materials mimic the natural nanofeatures of tissues down to cellular and molecular hierarchy. Nanoscale modification of biomaterials enhances their mechanical, electrical and biological properties. For instance, nanocomposites with reinforced polymer matrices exhibit superior strength for bone implants. Nanoporous materials allow controlled and sustained drug delivery. Rising demand for nanocellulose, carbon nanotubes, nanoclays, nanocrystals, and others due to  their enhanced physico-chemical, anti-microbial and wound healing properties is driving expansion of the nano-biomaterials market. For instance, according to the World Health Organization, around 1 million people acquire healthcare-associated infections every year globally. The use of nanotechnology could help to address this major problem.
• Advances in tissue engineering scaffolds: Significant progress in fabrication of porous tissue engineering scaffolds using advanced biomaterials is a major trend fostering the market growth. Design of scaffolds with controlled biodegradability, porosity, interconnectivity and optimized surface chemistry is enabling regeneration of tissues. Advances like electrospinning facilitate production of nanofiber and microfiber scaffolds mimicking the extracellular matrix. Companies are incorporating cells, growth factors, peptides, and othersinto scaffolds to create functional living tissues and organs through tissue engineering. Continuous expansion in scaffold design and biofabrication technologies is projecting a positive growth outlook.
• Growing coatings applications: The market is benefitting significantly from  rising adoption of engineered biomaterial-based coatings in medical devices to enhance biocompatibility and therapeutic efficacy. For example, anti-microbial coatings containing silver nanoparticles are being used to reduce risk of post-surgical infections associated with implants and indwelling devices. Lubricious hydrogel coatings minimize friction between devices and tissues in procedures like endoscopy. Companies are also developing smart polymer coatings that release drugs in a controlled and targeted manner. Further, bioactive ceramic coatings applied on implants facilitate bone integration. The growing trend of surface modification and functionalization of devices with engineered coatings is fueling the market growth.