Robust Growth for Bioactive Materials, Study Predicts
One of the many variables that impact the life of a successful implant is its biocompatibility. Bioactive materials—biomaterials that react with body tissues and fluids without adverse reactions—can be made from different types of materials, such as ceramics, glass, glass-ceramics, and composites.
A recent study by Wellesley, Mass.-based research firm BCC Research seems to indicate that the market for such materials is on a robust growth track.
The global market for bioactive materials was valued at $792.3 million in 2012 and is expected to reach $890.4 million by 2013. BCC Research projects the market to grow to $1.7 billion in 2018, and register a five-year compound annual growth rate of 13.8 percent from this year to 2018.
The study examines bioactive materials developed during the last 50 years that are commercially available in various configurations such as powders and nanopowders, granules, monoliths, injectable, and moldable products and coatings.
Since BCC Research began tracking the bioactive materials market in 2006, the industry has been growing at a significant pace, researchers noted. With applications spanning a range of industries such as medicine and surgery, dentistry and periodontics, pharmaceuticals, bioengineering, cosmetics and personal care, and other consumer products, the demand for bioactive materials is projected to continue growing.
BCC Research attributes the increased market penetration of these materials to several factors, including a rapidly aging population in need of medical care; increasing incidence of orthopedic and spinal procedures related to leisure activities, road accidents, and treatment of diseases; and greater use of synthetic materials for grafting procedures.
The need for materials that allow tissues to be regenerated and repaired more quickly to reduce hospital stays and that can be applied with minimally invasive or noninvasive procedures are key to the growth in this market, according to the report. In addition, the penetration of bioactive materials in developing countries will continue to spur growth for this industry in the foreseeable future.