Yahoo Finance Bioactive Materials Market is Likely to Expand at a Projected CAGR of 11.3% during by 2032- Exclusive Report by Fact.MR
Bioactive Materials Market Share & Trends Analysis, By Material (Bioactive Glass, Bioactive Glass Ceramic, Others), By Type (Powdered Bioactive Materials, Moldable Bioactive Materials, Others), By Application (Bioactive Materials for Dentistry, Others) & By Region Forecast, 2021-2031
ROCKVILLE Md., March 23, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Bioactive Materials market is projected to grow at a compound annual rate (CAGR) of 11.3% between 2021 and 2031. The market is expected to reach US$ 1.7 Bn by the end of 2031.
The demand for Bioactive Materials is expected to rise over the forecast period and the market was valued US$ 2 Bn in 2020.
While recent advancements in surgeries have led to a surge in the sales of medical devices, it has also triggered the sales of advanced materials that make surgeries effective and safer. According to Fact.MR, bioactive materials have also gained traction owing to their suitability in medical implants, human tissue healing, molecular probes, biosensors, and drug delivery systems. Sealants and patches developed with bioactive materials have shown to withstand lung pressures as well as efficiently treating lung leaks.
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The burden of surgery from non-communicable diseases such as cancer and cardiovascular & metabolic diseases has been continuously growing, thus necessitating the need for advanced surgery support technologies. As the understanding of immune response to biomaterials builds with future research in this field, it can lead to enhanced incorporation of implants into host tissues, consequently nudging the demand for bioactive materials toward northward.
From Medical Applications to Food Preservation, How are Bioactive Materials Suited for New Applications?
Owing to their characteristics, biomaterials have started to find use across new applications. Quebec, in Canada, produces significant volumes of strawberries, though considering the vulnerability of the fruit, they need proper packaging.
In 2021, Monique Lacroix, a professor at the Institute national de la recherche scientifique, along with her team, developed a bioactive packaging film that keeps strawberries fresh for nearly 12 days. This packaging also has antimicrobial properties, which makes it further suited for this application.
In another instance, the Bio Active Materials project conducted by researchers at Fraunhofer-Gesellschaft, led to the development of an eco-friendly coating for paper packaging. When put into application, not only is plastic saved, but the coating of plant-based proteins and waxes also extends the shelf life of the food.
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Key Segments Covered in the Bioactive Materials Industry Survey
By Material
Bioactive Glass
Bioactive Glass Ceramic
Bioactive Composite Material
Other Bioactive Materials
By Type
Powdered Bioactive Materials
Moldable Bioactive Materials
Granulated Bioactive Materials
Injectable Bioactive Materials
By Application
Bioactive Materials for Dentistry
Bioactive Materials for Surgery
Bioactive Materials for Bioengineering
Bioactive Materials for Other Applications
Competitive Landscape
According to market research analysis, partnerships and product developments featured among the key developments in the global bioactive materials market.
Recent developments by key bioactive material providers are as follows:
In July 2021, Arthrex announced distribution agreement with Celularity under which the former will receive rights for distribution and commercialization of Celularity’s biomaterial products for orthopaedics and sports medicine that are placental-derived.
In June 2021, Lineage Cell Therapeutics, Inc. announced it granted an option to Amasa Therapeutics, Inc., a biopharmaceutical company, to acquire a royalty-bearing license to utilize HyStem technology of Lineage Cell Therapeutics for the development and marketing of therapies for treatment of solid tumors under pre-negotiated terms.
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Key players in the Bioactive Materials Market
Zimmer Holding Inc.
Medtronic Inc.
Stryker Corporation
DePuy Synthes
Biomatlante
Arthrex, Inc.
Pulpdent Corporation
Bioactive Bone Substitutes Oy
Key Takeaways from the Market Study
Together, North America and Europe command over 65% of global bioactive material revenue, owing to their advanced healthcare infrastructure.
The market in South Asia is expected to witness a CAGR of over 14% during the forecast period.
Revenue through bioactive glass ceramic is expected to increase 160 BPS during 2021 – 2031.
Powdered bioactive materials account for over two-fifth of global demand; however, demand for injectable bioactive materials is expected to grow at a faster pace.
Together, dentistry and surgery applications make up more than 70% revenue share of bioactive materials.
Top five players manufacturing bioactive materials accounted for 23% market share in 2020.
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