The global nanofiber materials market for the biomedical industryis expected grow at a staggering CAGR of over 23% during the forecast period, according to Technavio's latest report.
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Technavio has published a new report on the global nanofiber materials market for the biomedical industry from 2017-2021. (Graphic: Business Wire)
In this report, Technavio covers the market outlook and growth prospects of the globalnanofiber materials market for the biomedical industryfor 2017-2021. The market is further categorized into five product segments, including synthetic polymers, natural polymers, ceramic and inorganic, carbon and graphene, and metallic, of which the synthetic polymers segment dominated the market with approximately 52% of the overall market share in 2016.
"The tremendous potential of nanofibers in various biomedical and healthcare applications is evident from the successful launch of commercial products in the market. The majority of the currently available commercial products are in the category of cell culture and tissue engineering scaffolds, which are used for clinical and R&D activities," says Shakeel Iqbal, a lead metals and minerals research expert from Technavio.
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Technavio's research study segments the global nanofiber materials market for the biomedical industry into the following regions:
Nanofiber materials market for biomedical industry in Americas
The Americas accounted for 38% of the overall nanofiber materials market for biomedical industry in 2016. Companies in emerging markets of the Americas are particularly successful in developing and patenting innovative biotechnology products. They can thus combine low costs with high levels of scientific knowledge, expertise, and innovation to bring novel nanofiber-based products into the market.
"Companies from the US and Canada are using nanofibers for diverse biomedical applications. The number of companies with high R&D spending in bringing up specialized and advanced products is higher in the Americas as compared with rest of the regions. The region will continue to gain the highest share of the global nanofiber materials market for the biomedical industry during the forecast period," says Shakeel.
Nanofiber materials market for biomedical industry in Europe
Europe was the second leading region with 28% of global market share in the nanofiber materials market for the biomedical industry in 2016. The major share of the market is from Germany, Sweden, Finland, the UK, and Italy. Key vendors from this region include Ahlstrom, NANOVIA, AMSilk, Future Carbon, Irema Filter, Donaldson, and Pardam. The vendors from the regions are specialized in the manufacture of nanofibers products adhering to strict environmental regulations.
Nanofiber materials market for biomedical industry in APAC
The nanofiber materials market for the biomedical industry in APAC is expected to reach USD 54.02 million by 2021. APAC accounted for 25% of the global materials market for the biomedical industry. The major contribution was from China, Japan, and South Korea.
Nanofiber materials market for biomedical industry in ROW
ROW accounted for 9% of the global nanofiber materials market for the biomedical industry in 2016. The major share came from the Middle East and will be the reason for the growth of the market during the forecast period. Development and increasing use of nanofibers in the biomedical industry will be the major reason for the growth of ROW.
The top vendors in the global nanofiber materials market for the biomedical industry highlighted in the report are:
- Asahi Kasei
- Nanofiber Solutions
- SNS Nanofiber Technology
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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