July 18, 2024

Pharmaceutical Grade Bioactive Materials Is The Largest Segment Driving The Growth Of Bioactive Materials Market

The global Bioactive Materials Market is estimated to be valued at US$ 2,204.6 Mn or Mn in 2023 and is expected to exhibit a CAGR of 14.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Bioactive materials are any materials that induce specific biological activities at the interface of the material. They actively participate in physiological processes through controlled-release of ions and triggering cell signaling pathways. Bioactive materials play an important role in tissue regeneration applications and as coatings in implants.

Market key trends:

One of the key trends in the bioactive materials market is the rising usage of bioactive materials for dental and orthopedic applications. Bioactive materials stimulate specific biological responses at the material-tissue interface which aids in achieving excellent bonding between implant material and bone without fibrous tissue formation. They help in regeneration of bone tissue, faster healing of fractures, and enhanced integration of implants post surgeries. Another major trend is increasing investments in R&D activities for development of novel bioactive materials with enhanced properties like biocompatibility and osteoinductivity.

Market key trends:

One of the key trends in the bioactive materials market is the growing importance of bioactive glass and composites. Bioactive glasses and composites are increasingly being used in regenerative medicine applications owing to their ability to bond chemically with living tissues. When implanted in the body, bioactive glasses form a bond with tissues through the growth of a carbonated hydroxyapatite layer on their surface upon exposure to body fluids. This ability to bond with tissues makes them suitable for applications in hard and soft tissue engineering. The market for bioactive glasses and composites is expected to grow steadily during the forecast period.

SWOT Analysis

Strength: Bioactive materials help in faster healing of injuries and faster recovery. They bond well with living tissues and promote cell growth.
Weakness: High material and production costs of certain bioactive materials.
Opportunity: Growing elderly population and rising prevalence of chronic diseases necessitating medical implants create opportunities.
Threats: Stringent regulatory framework and long approval timelines for new products. Competition from alternative graft materials and technologies.

Key Takeaways

The global bioactive materials market is expected to witness high growth, exhibiting CAGR of 14.% over the forecast period, due to increasing prevalence of chronic diseases and rise in the number of road accidents and trauma injuries requiring medical implants and grafts.

Regional analysis

North America is expected to dominate the global bioactive materials market over the forecast period owing to growing elderly population, high adoption of advanced medical technologies and presence of key players in the region. Asia Pacific is expected to exhibit the fastest growth during the forecast period supported by growing medical tourism industry, rising healthcare expenditure and increasing focus of international players on establishing manufacturing facilities in the region.

Key players

Key players operating in the bioactive materials market are Arthrex Inc, Bioactive Bone Substitutes OyJ, Biomatlante, DSM, Cam Bioceramics, Ceraver, DePuy Synthes (Johnson and Johnson), Medtronic Inc., Noraker, Pulpdent Corporation, Septodont Holding, Stryker Corporation, Zimmer Holdings Inc, Collagen Matrix Inc., OSARTIS GmbHm, Evonik Industries AG, and Boston Scientific Corporation. The market is highly consolidated with top players accounting for majority of the share. The players are focusing on new product development and launches to strengthen their market position.