Belgium Biomaterials in Healthcare Market Analysis

Belgium Biomaterials in Healthcare Market Analysis


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The Belgium Biomaterials in Healthcare Market is expected to witness growth from $344 Mn in 2022 to $927 Mn in 2030 with a CAGR of 13.20% for the forecasted year 2022-2030. The aging populace in Belgium is driving up demand for biomaterials in Belgium Biomaterials in Healthcare market. The market is segmented by type and by application. Some key players in this market include: Trasis, Acertys Healthcare, BASF SE, Johnson and Johnson, Medtronic and Evonik Industries.

ID: IN10BEMD003 CATEGORY: Medical Devices GEOGRAPHY: Belgium

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Belgium Biomaterials in Healthcare Market Executive Analysis

The Belgium Biomaterials in Healthcare Market size is at around $344 Mn in 2022 and is projected to reach $927 Mn in 2030, exhibiting a CAGR of 13.20% during the forecast period. In 2021, Belgium allocated 0.6% of GDP to the administration and security of the public healthcare system. Overall health spending in Belgium has steadily grown over time, going from 10.5% in 2015 to 12.5% in 2020 as a percentage of GDP. The overall funding exceeds the average for the EU. Public (total) spending has gradually grown over the past ten years, generally keeping up with levels in the European Union. (EU).

In Belgium, in order to replace or heal damaged tissue or organs, the body uses biomaterials, which can be synthetic or natural materials. They are useful and advantageous in the area of medicine. Skin, bone, and cartilage are just a few of the novel tissues and organs that can be created using biomaterials in tissue engineering. Patients who have diseases or injuries that call for tissue replacement may benefit from this particularly. To transport medications to particular body parts, biomaterials can be used as drug delivery systems. By doing so, the medications' potency may be increased and their side effects may be diminished. Dental implants, which change missing teeth or support dentures, frequently use biomaterials. This can enhance the patient's ability to chew and talk, as well as their general quality of life. Because they are intended to be biocompatible, biomaterials do not damage the body or elicit an immune reaction. They are therefore a secure and useful choice for medical purposes. In order to replace or heal damaged tissue in the heart and blood vessels, biomaterials are also used in cardiovascular devices like stents and heart valves.

belgium biomaterials in healthcare market

Market Dynamics

Market Growth Drivers

The Belgian government is promoting the use of biomaterials in the healthcare industry through a number of projects. For instance, the government has started a number of initiatives to promote biomaterials and medical device research and development. The aging populace in Belgium is driving up demand for medical services and equipment. Medical implants, which are highly sought-after by the aged, are increasingly being made with biomaterials in the healthcare industry. Biomaterials are becoming more efficient, effective, and secure thanks to technological developments, which is driving up demand for them in the healthcare industry. The demand for these materials in the healthcare industry is also being fueled by the increasing understanding of the advantages of biomaterials among patients and healthcare professionals.  Strong industrial capabilities in Belgium allow for the production of premium biomaterials at cost-effective rates. The Belgian healthcare industry for biomaterials is benefiting from this by drawing manufacturers and investors.

Market Restraints

In Belgium, the adoption of biomaterials in the healthcare industry may be constrained by the fact that they can be costly to make and use. This is especially true for some of the more expensive to create and produce advanced biomaterials. Although there is an increasing understanding of biomaterials in the healthcare industry, some patients and healthcare providers still do not. This may restrict the use of biomaterials and hinder the expansion of the industry.

Competitive Landscape

Key Players

  • Trasis (BE)
  • Acertys Healthcare (BE)
  • BASF SE
  • Johnson and Johnson
  • Medtronic
  • Evonik Industries

Healthcare Policies and Regulatory Landscape

Belgium has a firm commitment to the use of cutting-edge medical technologies, such as biomaterials, in its well-developed healthcare system. The Federal Agency for Medicines and Health goods (FAMHP), which is in charge of the authorization, registration, and surveillance of biomaterials, oversees the nation's regulatory framework for biomaterials. Biomaterials are governed as medical instruments and are subject to the FAMHP's specifications. Manufacturers are required to acquire the CE marking, which certifies that the product satisfies the EU's performance and safety standards. Before being sold in Belgium, biomaterials must additionally go through clinical trials to show their safety and efficacy. In terms of healthcare regulations, the Belgian government has put in place regulations to promote the use of nanomaterials in healthcare. For instance, the government has created a national biomaterials platform to promote interaction between business, academics, and healthcare providers. The platform's goal is to hasten the advancement and utilization of nanomaterials in healthcare.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Biomaterials in Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on type, the market is segmented into Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, and Natural Biomaterials. The Metallic Biomaterials segment accounted for the largest share of the Belgium market in 2019. The growing geriatric population Belgiumly is expected to drive growth for this segment.

  • Metallic Biomaterials
    • Stainless Steel
    • Titanium & Titanium Alloys
    • Cobalt-Chrome Alloys
    • Gold
    • Silver
    • Magnesium
  • Polymeric Biomaterials
    • Polymethylmethacrylate
    • Polyethylene
    • Polyester
    • Silicone Rubber
    • Nylon
    • Polyetheretherketone
    • Other Polymeric Biomaterials
  • Ceramics
    • Calcium Phosphate
    • Zirconia
    • Aluminum Oxide
    • Calcium Sulfate
    • Carbon
    • Glass
  • Natural Biomaterials
    • Hyaluronic Acid
    • Collagen
    • Gelatin
    • Fibrin
    • Cellulose
    • Chitin
    • Alginates
    • Silk

By Application (Revenue, USD Billion):

The cardiovascular, orthopaedic, dental, plastic surgery, wound healing, tissue engineering, ophthalmology, neurological/CNS, and other applications segments are made up of the biomaterials market. The market category for wound healing is anticipated to have the highest CAGR in 2019. The market will increase as a result of factors including expanding healthcare infrastructure, a large population pool, a rising diabetic population, and rising healthcare spending. Surgical Guides

  • Cardiovascular
    • Catheters
    • Stents
    • Implantable Cardiac Defibrillators
    • Pacemakers
    • Sensors
    • Heart Valves
    • Vascular Grafts
    • Guidewires
    • Others
       
  • Orthopedic
    • Joint Replacement
      • Knee Replacement
      • Hip Replacement
      • Shoulder Replacement
      • Others
    • Viscosupplementation
    • Bioresorbable Tissue Fixation
    • Spine?
      • Spinal Fusion Surgeries
      • Minimally Invasive Fusion Surgeries
      • Motion Preservation & Dynamic Stabilization Surgeries
        • Pedicle-Based Rod Systems
        • Interspinous Spacers
        • Artificial Discs
    • Fracture Fixation Devices
      • Bone Plates
      • Screws
      • Pins
      • Rods
      • Wires
    • Synthetics Bone Grafts
       
  • Ophthalmology
    • Contact Lenses
      • Intraocular Lenses
      • Functional Replacement of Ocular Tissues
      • Synthetic Corneas
      • Others
  • Dental
    • Dental Implants
    • Dental Bone Grafts & Substitutes
    • Dental Membranes
    • Tissue Regeneration
       
  • Plastic Surgery
    • Soft-Tissue Fillers
    • Craniofacial Surgery
       
  • Wound Healing
    • Wound Closure Devices
      • Sutures
      • Staples
    • Surgical Hemostats
    • Internal Tissue Sealants
    • Adhesion Barriers
    • Hernia Meshes
       
  • Tissue Engineering
    • Scaffolds for Regenerative Medicine
    • Nanomaterials for Biosensing
    • Tailoring of Inorganic Nanoparticles
      ?
  • Neurological/Central Nervous System Applications
    • Shunting Systems
    • Cortical Neural Prosthetics
    • Hydrogel Scaffolds for CNS Repair
    • Neural Stem Cell Encapsulation
      ?
  • Other Applications
    • Drug Delivery Systems
    • Gastrointestinal Applications
    • Bariatric Surgery
    • Urinary Applications

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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Stage III: Interpretation and Presentation

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Last updated on: 27 March 2023
Updated by: Shivam Zalke

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