Medical Engineered Materials Market Size

Medical Engineered Materials Market size is estimated at USD 19.5 billion in 2024 and is set to cross USD 93.9 Billion by the end of 2037, registering more than 14% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of medical engineered materials is evaluated at USD 22.2 billion.

The growing prevalence of chronic ailments including cardiovascular diseases, diabetes, cancer, and neurological diseases is boosting the demand for devices such as pacemakers, artificial limbs, glucose monitors, and more. As per the CDC, in 2021, 29.7 million people of all ages, which is 8.9% of the total U.S. population were diagnosed with diabetes. As stated by IDF Diabetes Atlas, 1 in every 11 adults in Southeast Asia was suffering from diabetes, registering 747,000 deaths due to diabetes in 2021. It further states that the number is expected to reach 113 million by 2030.

According to the American Cancer Society, over 2 million new cancer cases are projected to be diagnosed in 2024 in the U.S., registering approximately 611, 720 deaths by the end of the year. Crisis as such demands constant upgradation of medical equipment and devices. This surge drives innovation in biocompatible materials, precision medicine tools, and drug delivery systems which is directly impacting the demand for medical engineered materials. Sedentary lifestyle adoption, growing alcohol consumption, and smoking, in addition to increasing pollution, are contributing highly to severe health problems. This in return is remarkably promoting the medical engineered materials market growth.