Newly-released bioactive materials industry analysis by Fact.MR reveals that global revenue from bioactive materials in 2020 was US$ 2 Bn. The industry is likely to expand at a projected CAGR of 11.3% during 2021 – 2031. Bioactive composite materials are expected to be the highest revenue generating segment, accounting for an absolute dollar opportunity of nearly US$ 1.7 Bn over the next ten years.
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.
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.
Key players in the Bioactive Materials Market
- Zimmer Holding Inc.
- Medtronic Inc.
- Stryker Corporation
- DePuy Synthes
- Arthrex, Inc.
- Pulpdent Corporation
- Bioactive Bone Substitutes Oy