The rising aging population across the world is considered as the primary driver for the global bioactive materials market. The World Health Organization (WHO) estimates that the global geriatric population could increase to as much as 2 bn by the end of 2050.
Albany, NY -- (SBWIRE) -- 02/22/2017 -- Bioactive materials provide the appropriate biological response between material and tissue that result in the formation of a bond between them. Bioactive materials are used to manufacture products that have the ability to replace a part of the body in a physiologically safe and economical manner. Moreover, bioactive materials are able to integrate with cells or biological molecules for tissue regeneration. They are also used for the development of bone graft substitutes for bone and joint reconstructive surgeries.
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The rising aging population across the world is considered as the primary driver for the global bioactive materials market. The World Health Organization (WHO) estimates that the global geriatric population could increase to as much as 2 bn by the end of 2050. Additionally, the global geriatric population is likely to grow at a very fast rate in developed countries such as the U.S., the U.K., and Japan, over emerging ones. However, the high cost of new technologies and an increased use of synthetic materials in grafting technique are crucial factors that would restrict the global bioactive materials market.
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Global Bioactive Materials Market: Scope of the Study
There are three primary bioactive materials currently available in the market: polymer-based, metallic-based and ceramic-based bioactive materials. Polymer-based bioactive materials are biodegradable products – natural or synthetic – such as collagen fibrin, hyaluronic acid, and chitosan that can exhibit excellent osteo-conductive and biocompatibility properties. Metallic-based bioactive materials such as titanium and tantalum are widely used for bone and joint reconstructive surgeries due to good corrosion resistance, biocompatibility, and durability. Glass and glass ceramics made from calcium phosphates, calcium sulfates, and bioactive glass are widely utilized as ceramic bioactive materials in medical science.
Global Bioactive Materials Market: Regional Outlook
North America represented the leading regional market for demand volume of bioactive materials, primarily due to the introduction of technologically advanced medical devices and an increase in orthopedic surgeries. The American Academy of Orthopedic Surgeons (AAOS) estimated that, approximately 2.4 mn people in the U.S. would be affected by LSS by 2021. Europe holds second place in this market due to the region's exceptionally fast-growing geriatric population and increase in life expectancy, as well as a growing prevalence of musculoskeletal diseases. According to the National Healthcare Service (NHS), around 10 mn people in the U.K. have arthritis, out of which 8.5 mn suffer from osteoarthritis.
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Japan and China account for the leading share in the bioactive materials market within Asia Pacific. The Government of Japan stated that it holds the lead in the growth rate of geriatric population in Asia which reached a record of 31.86 mn people in September 2013. The population is expected to reach 95.2 mn by 2050. This significant rise in the geriatric population along with the technological advancement is expected to boost the bioactive materials market in this region. The rest of the world comprises Latin America and The Middle East and Africa. A significant increase in athletic involvement and physical activities has increased the risk of injuries in sports-loving countries such as Brazil and Mexico. The governments of Brazil and Mexico are focusing on reducing overall healthcare expenditure in order to make the surgeries easily accessible at a low cost and thereby enhance the chances of an increase in the uptake of bioactive materials.
Global Bioactive Materials Market: Companies Mentioned in the Report
Major players operating in this market include Baxter International, Inc., Smith & Nephew PLC, CONMED Corporation, DePuy Synthes, Inc., Arthrex, Inc., Medtronic, Inc., Stryker Corporation, and Zimmer Holdings, Inc.
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