BIOACTIVE MATERIALS MARKET ANALYSIS

Bioactive Materials MarketSize and Trends

The global bioactive materials market size was valued at US$ 2,015.8 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 14.75% from 2023 to 2030. The increasing adoption of advanced technologies in the medical industry is expected to augment the global bioactive market growth. Increasing investments in healthcare infrastructure and advanced surgical techniques are again expected to drive the market growth. Furthermore, the increasing demand for knee/joint replacement surgeries is further projected to drive bioactive market growth over the forecast period.

Global Bioactive Materials Market Trends:

Bioengineering and tissue engineering are recent trends

Advancement in technology has led to the development of bioengineering and tissues engineering techniques. Moreover, ongoing development on novel drug delivery technologies have further boosted market growth. For instance, in January 2019, DSM Biomedical partnered with ProMed Pharma to leverage its biomedical biomaterials with ProMed’s micro molding and extrusion capabilities to create novel controlled-release drug implants and combination devices.

Porous-coated and fully or partially porous orthopedic implants gaining popularity

Porous-coated and fully porous orthopedic implants are becoming more popular in total ankle replacement surgery. This is mainly due to the improved osseointegration of these implants. Moreover, the use of this coating on the osseous interface of the implant increases the chances of survivorship. These coatings are made of shape memory material that expands once the implant is inserted into the bone. The interconnected networks of pores of the porous surface coats are infiltrated with bone promoting agents. Hence, advent of biomaterials will positively impact the market growth.