Bioactive Materials - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Bioactive Materials - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Bioactive Materials Market size is estimated at USD 2.65 billion in 2024, and is expected to reach USD 5.32 billion by 2029, growing at a CAGR of 14.88% during the forecast period (2024-2029).

As the material is widely used in the healthcare industry, COVID-19 had a positive impact on the market, as the demand for healthcare equipment grew significantly.

Over the long term, the growing demand for dental care and root canal treatment will drive the market.

Key Highlights

• On the flip side, high costs, regulations, and probable toxicity hinder market growth significantly.
• The rising demand for orthopedics and new developments are expected to create opportunities for the market studied.
• North America is expected to dominate the market during the forecast period.

Bioactive Materials Market Trends

Growing Demand from Orthopedics

• Bioactive materials stimulate a biological response from the body, such as bonding to the tissue. Bioactive materials find their application in nanomedicine and biosensors, mechanical interlocks, bone tissue healings, and dental, amongst others.
• In orthopedic surgery, hydroxyapatite is the most commonly utilized bioactive ceramic material. Bioactive materials create a physiologically active layer on the implant's surface, resulting in a link between the native tissues and the substance. Changing the composition of the bioactive material allows a wide variety of bonding rates and interfacial bonding layer thickness.
• Bioactive glasses, despite their higher bioactivity within the body, serve a minor role in orthopedic surgery compared to metallic implants. Bioactive glass is a new material that has the potential to be employed in surgical orthopedics.
• According to Eurostat, in 2021, a fifth of the EU population (20.8%) was 65 or older. Between 2021 and 2100, the proportion of people aged 80 and up in the EU's population is expected to more than double, from 6.0% to 14.6%.
• According to the National Statistical Office's (NSO) Old in India 2021 study, India's elderly population (aged 60 and more) is expected to reach 194 million in 2031, up by 41% from 138 million in 2021.
• All such factors are expected to drive the demand for bioactive materials in the orthopedics sector during the forecast period.

North America Region to Dominate the Market

• North America is expected to dominate the global market due to the highly developed healthcare sector in the United States and the continuous investments to advance the medical technology sector.
• The healthcare sector in the United States is one of the most advanced in the region. According to the Centers for Medicare and Medicaid Services, during 2021-2028, national healthcare spending is projected to grow at an average of more than 5.5% and reach approximately USD 6.192 trillion by 2028.
• Bioactive materials are used in root canal and bone defect treatment, tooth regeneration, hard tissue repairs, and stem cell transplantation. Bioactive glasses and glass ceramics are major bioactive materials used in bone tissue engineering.
• According to World Bank data, the population above 65 years of age in the United States stood at around 16.6% of the total population. They require more medical attention for tooth decay and gum problems and pose a higher risk of arthritis.
• According to the American Academy of Orthopedic Surgeons (AAOS), musculo skeletal diseases and replacement of joints (knee and hip) are the most common surgeries among the American population. These applications increasingly use bioactive materials.
• In 2022, total health expenditure in Canada was valued at USD 245.72 billion and is expected to reach USD 264.5 billion by end of this year. In the healthcare industry, the medical device sector is a highly diversified and export-oriented industry that manufactures equipment and supplies. The sector is driven by product innovations. The industry can draw on world-class innovative research conducted in Canadian universities, research institutes, and hospitals, some of which are spun off into Canadian medical device companies.
• Performing surgeries requires advanced medical devices and components, including bioactive materials.This, along with the use of these materials in pharmaceutical, is expected to drive the market for bioactive materials through the years to come in North America.

Bioactive Materials Industry Overview

The global bioactive materials industry is fragmented, with the top players accounting for a major share of the market. Some major companies are Boston Scientific, Depuy Synthes, Evonik Industries, DSM, and Arthrex, among others (not in any particular order).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support