The global bioactive materials market size is predicted to exhibit commendable growth during the forecast period of 2024-2032. Bioactive materials help in curing and maintaining the physiological state of the body. These materials do not have a negative effect on the body. Some of the popular examples of these materials include ceramics, glass, composites, and others. The growing use of these materials in dentistry, orthopedic, and pharmaceutical & biotechnological applications will foster the bioactive materials market growth.
Fortune Business Insights presents this information in a report titled “Bioactive Materials Market, 2024–2032.”
COVID-19 Impact
COVID-19 Slowed Market Progress Due to Supply Chain Disruptions
The COVID-19 pandemic adversely affected the market development as governments across the world had imposed lockdowns and other movement & trade restrictions. This scenario created several supply chain issues in the market. Moreover, many elective surgeries were put on hold during this period, which further slowed the demand for bioactive materials, and eventually slumped the market growth.
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Segments:
By material, the market is split into glass, ceramics, composites, and others.
By application, the market is divided into orthopedics, dentistry, pharmaceuticals & biotechnology, and others.
With respect to geography, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report has highlighted several areas through its in-depth analysis of the market. These areas include key material types, applications, and leading companies operating in the market. It also provides major insights on the recent industry developments and the prominent market trends. Apart from the factors mentioned above, the report sheds light on several other factors that have spurred the market’s progress.
Drivers & Restraints:
Innovations in Pharma and Healthcare Sectors to Boost Market Development
The pharmaceutical and healthcare sectors are experiencing rapid innovations due to the growing complexity of various chronic diseases and the rising demand for advanced treatments. Many medical researchers are intensifying their research and development efforts to develop reliable treatments, medical devices, and surgical procedures to enhance the patient outcome. This factor is expected to augment the market growth in the coming years.
However, the high cost of manufacturing and processing bioactive materials might hinder the market growth.
Regional Insights
North America to Dominate Market Owing to Presence of Robust Healthcare Infrastructure
North America has captured the largest global bioactive materials market share as the region has a robust healthcare infrastructure. North America has seen some major developments in the fields of organ transplant, medical engineering, and dentistry, which will further augment the market progress.
Europe has also held a considerable share of the global market as the region’s healthcare and biomedical sectors are growing at a rapid pace. Other factors, such as significant expansion of the medical engineering field and rising investments in research and development activities are expected to boost the regional market growth.
Asia Pacific is the fastest growing market as the region’s healthcare industry is expanding at a strong pace. Many developing countries across the region are boosting their expenditure on the medical and healthcare sectors, which will further contribute to the regional market’s growth.
Latin America and the Middle East & Africa might record commendable growth due to increasing domestic and foreign investments in the healthcare sector of these regions.
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Competitive Landscape
Leading Companies to Focus On Expanding Their Product Range to Maintain Market Dominance
Some of the key market players include Zimmer Holding Inc., Medtronic Inc., Stryker Corporation, DePuy Synthes, Biomatlante, Bioactive Bone Substitutes Oy, Arthrex Inc., Noraker, Pulpdent Corporation, Septodont Holdings, and Bioretec Ltd., among many others. These companies are entering various merger, acquisition, and partnership deals to increase their market presence and expand their product portfolios to maintain their dominance in the market.
Key Industry Development
- October 2022: Medtronic Inc., a global leader in healthcare technology, announced the separation of its Patient Monitoring and Respiratory Interventions businesses to boost its brand value.
- November 2021: Pulpdent Corporation, a leading dental researcher and producer, was given two patents by the U.S. Patent and Trademark Office for its stabilized calcium phosphate molecules.
Major Players Profiled in the Report:
- Zimmer Holding Inc. (U.S.)
- Medtronic Inc. (U.S.)
- Stryker Corporation (U.S.)
- DePuy Synthes (U.S.)
- Biomatlante (France)
- Bioactive Bone Substitutes Oy (Finland)
- Arthrex Inc. (U.S.)
- Noraker (France)
- Pulpdent Corporation (U.S.)
- Septodont Holdings (France)
- Bioretec Ltd. (Finland)