The Biomaterials Market is expected to grow by USD 12.76 billion at a CAGR of 5.68% from 2023 to 2028, according to Technavio. One of the key factors driving this growth is the rising incidence of musculoskeletal conditions like arthritis, which are leading to more joint replacement surgeries and the increased demand for orthopedic implants. Advancements in manufacturing technologies are helping lower costs while improving the effectiveness of bioimplants. Additionally, innovations in fields such as tissue engineering, ophthalmology, neurological treatments, and drug delivery systems are propelling the market. The adoption of biomaterial recycling for medical waste management is also gaining traction as a sustainable solution. However, high procedure costs, infection risks, and long recovery times remain significant challenges for the industry. As the global population continues to age, the need for advanced and affordable medical treatments will be crucial to driving further growth. Technavio anticipates that continued investment in R&D will help improve the cost-effectiveness and performance of biomaterials.

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