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2019 Overview of Raw & Manufactured Materials: Biomaterials

 

According to Grand View Research, the global market for biomaterials will grow at a strong CAGR of 14.7% to reach $250.4 billion by 2025. North America held the largest share of the market in 2017 due to technological and mechanical progressions, high utility of medical services, a growing geriatric population, and higher medical insurance coverage.9

Bioceramics are also expected to see robust growth, reports Mordor Intelligence. The bioceramics market was estimated to be nearly $2.6 billion worldwide in 2017 and is projected to register a CAGR of over 10% from 2018-2023. While the orthopedic segment dominates the market and is expected to continue to do so, it is projected to register the slowest growth at 9.9% CAGR. Europe accounted for 43% of the global market for bioceramics in 2017, driven mainly by demand for dental applications in Germany, the UK, Italy and France. Germany is the largest global consumer of bioceramics, representing about 17% of consumption.

Future Market Insights studied the global market for bioceramics and hydroxyapatite, finding that alumina is expected to dominate on the basis of material type and see moderate growth from 2018-2028. However, bioactive materials, such as calcium phosphate and predominantly hydroxyapatite, will witness significant growth. Moderate growth is also projected for bio-resorbable materials like bioglass.

A report from Markets and Markets focusing specifically on the hydroxyapatite market projects growth at a CAGR of 5.9% from 2018-2023; the value of the hydroxyapatite market is expected to increase from $2.2 billion in 2018 to just under $3 billion by 2023. The market for micro-sized hydroxyapatite is projected to grow at the highest CAGR during the forecast period, as is the orthopedic segment in terms of demand. Micro-sized hydroxyapatite can be engineered using nanotechnology to make it highly suitable for specific applications such as drug delivery systems and orthopedic surgeries.

Technavio projects that the global bioactive glass market will grow at a CAGR of over 14% from 2017-2021. Bioactive glass is generally made from compounds of calcium oxide, silicon oxide and phosphorus oxide. Medical, dentistry and cosmetics represent the three major application segments; the medical segment accounted for 65% of the market share in 2016. Three market drivers are contributing to the growth of the global bioactive glass market: growing clinical applications, an increase in the aging population, and increasing demand from emerging countries.

(Via: Media Partner of CERAMICS CHINA 2019, Ceramic Industry Magazine, https://www.ceramicindustry.com/articles/97534-raw-manufactured-materials-2019-overview