According to a new Fact.MR market research and competitive intelligence report, the global bioactive materials market is predicted to be worth roughly US$ 2.1 billion in 2021, with a CAGR of around 11.3% from 2021 to 2031. While recent surgical advancements have increased sales of medical equipment, they have also increased sales of novel materials that make treatments more successful and safer. According to Fact.MR, bioactive materials have gained popularity due to their use in medical implants, human tissue repair, molecular probes, biosensors, and drug delivery systems. Bioactive sealants and patches have been demonstrated to withstand lung pressures while also efficiently treating lung leaks.
The market for bioactive materials refers to materials that exhibit biological activity or interact with biological systems. These materials are frequently employed in medical and dental applications such as bone regeneration and wound healing. Factors such as the rising prevalence of chronic illnesses, the ageing population, and technological improvements are driving the market. The market is divided into three sections: material type, application, and region. Zimmer Biomet, Stryker, and Osstem Implant are among the market’s major participants. During the projected period, the worldwide bioactive materials market is likely to rise at a rapid pace.
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Market Segments Covered in Bioactive Materials Industry Analysis
- 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
Key Takeaways from 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.
How Has COVID-19 Impacted Revenue Generation from Bioactive Materials?
Revenue from bioactive materials witnessed slow growth with the onset of the COVID-19 pandemic, though growth remained positive. As compared to nearly 12% year-on year market growth in 2019, demand grew by around 5% in 2020. Since, most of the applications of bioactive materials fall under the healthcare category, their manufacturing was less impacted with lesser restrictions being imposed on this sector.
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.