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