The Brazil market for biomaterials is expected to reach $1.7 billion in 2015 from $550.2 million in 2008 with a CAGR of 19.5% from 2010 to 2015. In 2009, the orthopedic biomaterial market recorded revenues of $236.5 million or 37.5% of the total biomaterial products market. This is mainly because of increasing application areas and introduction of sophisticated technologies in the biomaterials market. However, the orthopedic biomaterial market is estimated to grow at a CAGR of 17.2% from 2010 to 2015. Cardiovascular biomaterial products market is the second-highest market, contributing 36% of the total biomaterial products market.
Aging population (population above 60 years is expected to reach 24 million by 2012), higher life expectancy, and increase in the incidences of ‘lifestyle and chronic diseases’ such as cardiovascular diseases has influenced the growth of biomaterial products. According to the World Health Organization, 32% of the total mortality in Brazil is due to cardiovascular diseases. Such a high incidence of diseases will increase the demand for cardiovascular biomaterial products such as cardiac stents.
The biomaterial products market in Brazil is expected to grow from $690 million in 2010 to $1.7 billion in 2015 at an estimated CAGR of 19.5%. The wound care biomaterial segment is expected to grow at a CAGR of 24.3% from 2010 to 2015. Of all the application areas of biomaterial in Brazil, surgical appliances and supplies account for the largest share; i.e. 39% of the total applications of biomaterial. With the technological advancements in orthopedic and prosthetic applications, there is an increase in demand for biomaterials in surgical appliances and supplies.