Bioactive materials market to climb 13.8%
The market was valued at US$792.3m in 2012
The bioactive materials market is set to grow at a rate of 13.8% over the next five years, according to market analyst BCC Research. The global market was valued at US$792.3m in 2012, according to the firm, and is tipped to reach $890.4m by the end of 2013 alone, with a figure closer to $1.7bn by 2018.
Bioactive materials are materials that react with tissues and fluids in the body without causing adverse reactions. They can be made from materials such as ceramics, glass, glass-ceramics and composites.
In BCC’s study, the term is used to refer particularly to synthetic materials developed during the past 50 years which are commercially available in forms such as powders and nanopowders, granules, monoliths, injectables and mouldable products and coatings.
Since BCC Research began tracking the bioactive materials market in 2006, the industry has been growing at a significant pace, though the chief drivers remain medical rather than cosmetic: an ageing population, increased incidence of orthopaedic and spinal procedures and greater use of synthetic materials for grafting procedures.
The analyst said that penetration of bioactive materials in developing countries should continue to spur growth in this industry in the foreseeable future.
