Advancements in Surgical Technologies Paving New Growth Paths for Bioactive Materials: Fact.MR
Published : 20 Jul 2021 Industry: Chemical & Materials
As per a new report published by Fact.MR, a market research and competitive intelligence provider, the global bioactive materials market is anticipated to exceed a valuation of around US$ 2.1 Bn in 2021, and register a CAGR of around 11.3% over the projection period of 2021 to 2031.
While recent advancements in surgeries have led to a surge in the sales of medical devices, it has also triggered the sales of advanced materials that make surgeries effective and safer. According to Fact.MR, bioactive materials have also gained traction owing to their suitability in medical implants, human tissue healing, molecular probes, biosensors, and drug delivery systems. Sealants and patches developed with bioactive materials have shown to withstand lung pressures as well as efficiently treating lung leaks.
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.
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.
“The food industry has been ever-ready to adapt to new food packaging technologies. Sales of bioactive materials can gain significant traction in food packaging when commercialized.” says a Fact.MR analyst.
Increasing aging population and their concern for tissue repair hold significant opportunity for bioactive material demand over the years to come. Inclination of biomedical companies in tissue engineering and regenerative medicines should be encashed by bioactive material suppliers.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global bioactive materials market, presenting historical revenue data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of material (bioactive glass, bioactive glass ceramic, bioactive composite material, and other bioactive materials), type (powdered bioactive materials, moldable bioactive materials, granulated bioactive materials, and injectable bioactive materials), and application (dentistry, surgery, bioengineering, and other applications), across seven major regions of the world (North America, Latin America, Europe, South Asia, East Asia, Oceania, and MEA).
Fact.MR’s Domain Knowledge in Chemicals and Materials
Our chemicals and materials consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemicals and materials sector. Our expertise in recognizing the challenges and trends impacting the global chemicals and materials industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Sr. Consultant – Chemicals and Materials