The biomaterials market is expected to grow 14% annually through 2017, according to the new report “Biomaterials - A Global Market Overview” from MarketResearch.com. The global biomaterials market for 2011 is estimated at $37.6 billion and is projected to increase at a CAGR of 14% (2007-2017) to reach $83.9 billion by 2017.
Choosing the right material to use in a medical device is no longer a complex procedure, assuming that the medical devices fabricated using these materials are biocompatible. Advancements in medical technology have taken a heavy toll on plastic materials that are used in medical applications.
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Biomaterials Market to Grow 14% Annually Through 2017
October 17, 2011