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(Medical-NewsWire.com, September 19, 2015 ) The biomaterials market is growing with a considerable rate due to technological advancements, growing number of elderly people and increased investments by government globally. Modern biomaterials in plastic surgery such as decellularized dermal matrixes for grafting and rise of biomaterial market in China and Taiwan are some of the factors providing ample opportunities for the biomaterials market to grow with a more considerable rate in the coming years.
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North America dominates the biomaterials market due to the presence of advanced healthcare infrastructure and friendly compensation policies by Centers for Medicare and Medicaid Services in the region. North America is expected to dominate the biomaterials market in the coming years mainly due to increase in investments by the government in biomaterial sector and rise in the aging population. The region is also expected to grow with a significant rate in the coming year due to increase in new products such as botulinum toxins, hyaluronic based injectables and Botox.
Asia-Pacific biomaterials market is growing with the highest rate due to rising patient awareness levels together with increasing healthcare expenditure in the emerging countries of the region such as China and India. Furthermore, excessive presence of unexploited opportunities in emerging Asia-Pacific economies is expected to support the market to preserve its position in the coming years.
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Biomaterials are natural materials used in medical applications such as replacement of tissues and organ transplantation. Biomaterials have developed to involve biodegradable materials as they are easily dissolved in the consumer’s body. The emergence of innovative biomaterial products and advances in technology has improved biomaterials applications and performance. Biomaterials require demonstrating a unique characteristic of being biocompatible so as the consumer’s body should physiologically accept biomaterials.
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Some of the competitors in the biomaterials market are Celanese Corporation, Evonik Industries AG, Invibio, Inc., AdvanSource Biomaterials Corporation, EI du Pont, Ceradyne, Inc., Collagen Matrix, Inc., and Biomet, Inc.
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