The market research report offers a breakdown of market shares by applications (cosmetics, dentistry, and orthopaedics) and by geography (APAC, EMEA, North America, and ROW). It also includes a comprehensive analysis of the strategies, shares and SWOT of the leading players such as Biomet, DePuy, Medtronics, Stryker, and Zimmer.
Technavio analysts forecast the Global Bioactive Glass Market: Opportunity, Trends, & Forecast 2015-2019 to grow at a CAGR of around 15% during 2015 and 2019, considering mammoth enhancements in the medical sector.
North America, the most significant revenue contributor, dominates the market with the largest share of around 46% and is expected to reach over US $267 million in 2019, followed by EMEA, APAC and ROW. North America is the principal consumer of bioactive materials because of increased research expenditure and healthcare innovations.
The new industry analysis report from Technavio presents an insightful breakdown of the bioactive glass market highlighting its growth potential through key drivers and trends. “The use of bioactive glass in bone generation and tissue repair is increasing owing to its ability to interact with biological systems and aid in regeneration. Lately, bioactive glasses are progressively being used in combination with hydroxyapatite and tricalcium phosphate to repair affected tissues in bone, cartilage, or ligaments,” says Imran Mushtaq, Lead Analyst, Healthcare, Technavio Research.
Orthopedic segment covers the major portion of the market share occupying around 36% in terms of consumption, and is expected to grow at a CAGR of around 18% by 2019. Increasing orthopedic ailments in elderly individuals especially musculoskeletal injuries have boosted the demand for bioactive glass due to its non-toxicity and ability to aid speedy recovery.
Bioactive Glass Market in Orthopedics Segment 2014-2019 ($ millions)
Source: Technavio Research
The global medical devices market is flourishing flat-out and is expected to account for $400 billion by 2019. There is increased demand for medical devices particularly from APAC because of the growing aging population. Interestingly, bioactive glasses have become very prominent in the construction of various medical devices that interact with tissue and organs. Bio-glasses are being evaluated for endoscopic instruments that come in contact with sensitive body organs and tissues.
Biomet, DePuy, Medtronics, Stryker, and Zimmer are the major players dominating the bioactive glass market. Proprietorship over technology, economies of scale, and R&D capabilities are the competing factors intensifying competition in this market.
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