The global Bioactive Materials Market is expected to reach USD 3.29 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 10.1% over the forecast period, owing to rising substitution of engineered plastics in implants.
Increasing healthcare expenditure by the consumers is expected to drive the demand for bioactive materials over the forecast period. Rising geriatric population is likely to trigger the demand for such products primarily for use in the production of prosthesis and implants, thereby driving the market over the next eight years.
Growing use of bioactive materials for coating metal implants to promote bone healing & osteogenesis, and mitogenesis of undifferentiated cells is expected to drive the market growth over the forecast period. The demand for such products is likely to rise on account of growing product adoption by consumers including hospitals and private surgeons.
The industry is expected to benefit from the rising technological advancements across the globe. In addition, the products are expected to gain traction over the forecast period driven by the superior performance in bone regeneration surgeries.
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Further key findings from the report suggest:
- Glass accounted for a market share of 37.7% in 2016, of the material segment, growing at a CAGR of 12.4% from 2017 to 2025, owing to its successful clinical applications and rising use in tissue engineering
- Powder accounted for 23.4% of the overall revenue share in 2016, due to high demand in tooth implants and other dentistry applications driven by superior amalgamation properties
- The market for bioactive materials in surgery is expected to grow at CAGR of 11.3% from 2017 to 2025. Recent advancements in the stem cell technology have boosted the demand for bioactive materials in the field of medicine and science and the trend is expected to sustain over the forecast period
- North America accounted for the highest global share of 37.0% in 2016 driven by high per capita healthcare spending owing to Affordable Care Act (ACA) introduced by the Obama administration in 2010
- Key participants of the industry include Zimmer Holding Inc., Medtronic Inc., Stryker Corporation, and Depuysynthes, with the companies focusing on new technology, excellent performance and customized products to gain market share
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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