The Global Bioactive Materials Market is expected to grow from USD 2.20 Bn in 2020 to USD 7.22 Bn by 2027, at a CAGR of 15.2%.
The global demand for bioactive materials is driven by its applications in implantable materials in healthcare sector. For instance, minerals collagen fibrils are an implantable used in bone regeneration. Seven million people suffer from bone fractures each year in the United States, and musculoskeletal conditions that cost USD 215 billion annually. These numbers are predicted to increase aggressively due to the aging population in the coming years. Additionally, the introduction of stem cells into the clinical infrastructure opens new therapeutic possibilities. Embryonic stem cells are pluripotent (ability to produce several different cell types), able to produce over 200 types of cells in the body. Thus, the use of implantable is expected to bolster the bioactive materials market growth during the forecast period.
Moreover, the growing geriatric population is expected to foster the bioactive materials market growth in the near future. The increased age of the population indicates that new tools, such as Scaffolds (a 3D porous structure that provides mechanical support) for damaged tissues, which display high efficiency, effectively and in a limited period of time, for the regeneration of the body's tissue are needed. The scaffolds can be used as templates for three-dimensional tissue growth to promote the tissue healing stimulating the body's own regenerative mechanisms. Furthermore, bio ceramics have been used to repair hard tissues, such as bone and dental defects. These soft tissues (fats, muscles, ligaments) are continuously exposed to damages, such as burns or mechanical traumas, tumors and degenerative pathology, and, thereby, thousands of people need remedial interventions such as bioactive materials-based therapies.
Based on type, the glass segment is anticipated to hold the largest market share during the forecast period owing to the compatibility with human body. Bioglass is majorly used in bone regeneration Scaffolds, for example, are required to act as temporary templates for bone regeneration and actively drive vascularized bone development, thus eliminating the requirement for bone transplantation. To accomplish this, the scaffold must be constructed of an osteogenic material and have a sufficient connected pore network. Additionally, bioactive glass is used in bone regeneration as it joins to bone quickly and degrades over time.
Global Bioactive Materials Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geography, North America is expected to dominate the bioactive materials market during the forecast period owing to the increase in number of replacement surgeries. For instance, according to Canadian Institute of health information, hip and knee replacement surgeries remained to be second of the most common surgeries in Canada, with more than 138,000 surgeries a year and estimated inpatient costs of over USD 1.4 billion annually. This includes revision surgeries (also known as repeat surgeries), which are typically more complex and require patients to stay in hospital longer than primary (first) surgeries. Thus, the use of bioactive materials in bone regeneration for hip & knee replacement surgeries is expected to foster the market growth in the near future.
Moreover, Europe is expected to significantly contribute to the market growth owing to its geriatric population during the forecast period. The growing demand for people undergoing surgery in England is expected to foster the market growth during the forecast period. For instance, according to Queen Mary University of London, the number of adults 75 and older who had surgery surged from 544,998 in 1999 to 1,012,517 in 2015. The average age of surgical patients grew from 47.5 years in 1999 to 54.2 years in 2015. The average age of the English population, on the other hand, grew from 38.3 to 39.7 years. If current trends continue, more than 1.48 million persons aged 75 and more will have a surgical treatment each year by 2030. This equates to one in every ten people in England and one in every five people aged 75 and up.
The key players operating in the bioactive materials market are: