Bioactive Bone Substitute Materials Are The Fastest Growing Segment Fueling The Growth Of Bioactive Materials Market

 


The global Bioactive Materials Market is estimated to be valued at US$ 2,204.6 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 engineered to bond chemically with bone tissues or stimulate physiological responses in living organisms. They induce specific biological responses at the interface of the material which favours tissue formation or the anchorage of implants. They are used in different applications such as bone substitutes, orthopedic and dental applications.

Market key trends:

One of the key trends in the bioactive materials market is the increasing demand for bone substitutes application. Bioactive bone substitute materials are engineered to bond chemically with bone tissues or stimulate physiological responses in living organisms. They induce specific biological responses at the interface of the material which favours tissue formation or the anchorage of implants. Bone grafting procedures are increasing due to a rise in the number of orthopedic surgeries worldwide. According to The National Institutes of Health, over 200,000 bone-grafting procedures are performed annually in the US alone, which is boosting the demand for bioactive bone substitute materials in the market.

Segment Analysis

The global bioactive materials market is segmented by material, application, and geography. By material, the market is divided into bioactive glass, glass ceramics, composites and others. The bioactive glass segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. This is mainly because of its high biocompatibility attributes that allow it to bond directly with living tissues without fibrous encapsulation.

Key Takeaways

The global bioactive materials market is expected to witness high growth, exhibiting a CAGR of 14% over the forecast period, due to increasing demand for bone graft substitutes and drug delivery devices. The market size for bioactive materials is projected to reach US$ 2,204.6 Mn by 2023.

Regional analysis

North America dominated the global bioactive materials market in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to factors such as increasing prevalence of chronic diseases, advanced healthcare infrastructure and presence of key players in the region.

Key players

Key players operating in the bioactive materials market are Arthrex Inc, Cam Bioceramics, Collagen Matrix Inc., Ceraver, DePuy Synthes (Johnson and Johnson), DSM, Evonik Industries AG, Medtronic Inc., Noraker, OSARTIS GmbHm, Pulpdent Corporation, Septodont Holding, Stryker Corporation, Zimmer Holdings Inc and Boston Scientific Corporation. Some of the major players like Arthrex Inc, Medtronic Inc and Stryker Corporation hold a significant share of the bioactive materials market.

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