Bioactive Glass Market: Introduction
- Bioactive glasses are a group of surface reactive glass-ceramic biomaterials that includes the original bioactive glass, bioglass. Biocompatibility and bioactivity of these glasses have led them to be used as implant devices in the human body to repair and replace diseased or damaged bones.
- The global bioactive glass market can be segmented based on type and application. In terms of type, the market can be divided into 45S5, S53P4, and others. The 45S5 type segment is expected to hold significant share of the global market during the forecast period. The first 45S5 glass composition, invented by Larry Hench 50 years ago, was able to bond to living bone and to stimulate osteogenesis through the release of biologically-active ions. In terms of application, the market can be segregated into orthopedics, dentistry, cosmetics, drug delivery, cosmeceutical products, others. The orthopedics segment is expected to expand at significant pace during the forecast period owing to the rise in adoption of bioactive glasses in orthopedic surgeries.
Key Drivers of Bioactive Glass Market
- Growth in usage of bioactive glasses in the health care sector is expected to boost the market during the forecast period. Bioactive glasses have paved the way for modern biomaterial-driven regenerative medicines. Bioactive glass products have been successfully implanted in millions of patients worldwide, mainly to repair bone and dental defects. Over the years, many other bioactive glass compositions have been proposed for innovative biomedical applications such as soft tissue repair and drug delivery.
- Nanotechnology is expected to create lucrative opportunities for the market during the forecast period. Nanotechnology offers a new strategy to develop bioactive glasses with a higher surface area. Nanotechnology is defined as a science that involves the development of materials and devices at nanoscale. Specific properties of bioactive glasses can be improved and controlled when synthesized in nanometer scale. Therefore, nanosized biomaterials have greater biocompatibility and bioactivity. This new approach is important both for bioactive glasses used in particulate form as well as for coatings on biomedical devices or as fillers in composite materials.
Restraints of Bioactive Glass Market
- Dearth of universal directives pertaining to applications of bioactive glass is expected to restrain the market during forecast period. Every country has different directives pertaining to applications of bioactive glass. Companies find it difficult to deal with these country-wise regulations. This is discouraging investment in the bioactive glass market, thereby restraining the market.
COVID-19 impact on Bioactive Glass Market
- The COVID-19 outbreak is hampering the demand for bioactive glass in many applications. Governments of various countries across the globe enforced stringent lockdowns to curb the spread of the coronavirus. This led to a slowdown in manufacturing operations and restrictions on supply and transport, thus affecting the bioactive glass market.
- Key players operating in the bioactive glass market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of bioactive glass.
Asia Pacific Expected to Hold Leading Share of Bioactive Glass Market
- In terms of region, the global bioactive glass market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold significant share of the global bioactive glass market during the forecast period owing to supportive policies and regulations enforced by governments and rapidly expanding health care industry in China, India, and Japan. The market in Asia Pacific is primarily driven by the rise in health care spending, increase in disposable income of the people, and growth in awareness about health care in countries such as China, Vietnam, Japan, Thailand, and India.
- North America is expected to hold significant share of the global market in the near future owing to the shift in trend toward in-home health care services from nursing homes; technological advancements; and presence of advanced medical infrastructure. Additionally, high patient awareness levels, increase in health care expenditure, and implementation of the streamlined regulatory framework are driving the market in the region.
Competitive Landscape of Bioactive Glass Market
Major players operating in the global bioactive glass market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:
- BIOMET 3i(Zimmer Biomet)
- BonAlive Biomaterials
- Mo-Sci Corporation
- Synergy Biomedical
- Dingsheng Biology
Bioactive Glass Market: Research Scope
Bioactive Glass Market, by Type
Bioactive Glass Market, by Application
- Drug Delivery
- Cosmeceutical Products
Global Bioactive Glass Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.