Bioactive Glass Market size is set to grow by USD 970.22 million from 2022 to 2027, High demand for dental care and cosmetic dentistry boosts the market

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06 Jun, 2023, 04:45 ET

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NEW YORK, June 6, 2023 /PRNewswire/ -- The global bioactive glass market size is estimated to grow by USD 970.22 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 16.98% during the forecast period. North America is estimated to account for 43% of the global market growth during the forecast period. Owing to factors such as the increasing prevalence of dental disease, the growing popularity of dental procedures, and growing awareness and interest in oral health, the market is growing significantly. The number of product approvals, the strong presence of established suppliers such as Zimmer and Stryker, and the increasing prevalence of dental disease and related risk factors all contribute to the regional market growth during the forecast period. Additionally, rising healthcare costs and an increase in dentists and dental facilities boost the market growth in the region.

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What's New?

Bioactive Glass Market - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on product (silicate-based glass, phosphate-based glass, and borate-based glass), application (medical, dentistry, cosmetics, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)).

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Bioactive Glass Market – Market DynamicsKey factor driving market growthHigh demand for dental care and cosmetic dentistry notably drives the bioactive glass market growth. There is a high incidence of oral diseases, such as periodontal disease, which can lead to tooth loss and infection. This results in high demand for dental care techniques such as dental implants, dental bridges, and dentures to maintain oral care and treat dental problems.

Furthermore, advances in dental technology, such as teledentistry, digital x-rays, lasers, and the inclusion of dental insurance in the National Health Insurance (NHI) bill are other factors driving the growth of the market. This increases the demand for bioactive glasses used in dental implants, driving the growth of the market during the forecast period.

Leading trends influencing the market

Inorganic growth strategies by the vendors are an emerging trend in the bioactive glass market growth. Vendors implement various strategies to expand their product portfolio such as mergers and acquisitions to increase market presence and sales of the orthodontic product line. They also collaborate with other companies and research institutes to develop new technologies, enhance their product offerings, and expand their distribution networks. These strategies offer vendors an opportunity to increase their profit margins.

For instance, Heraeus Group announced the acquisition of Mo-Sci Corp, which is a major player in the supply of medical and specialty glass. hence, such trends influence the growth of the bioactive glass market during the forecast period.

Major challenges hindering the market growth

Stringent regulations and product recalls of bioactive glass challenge the bioactive glass market growth. A strict regulatory framework on bioactive glasses is imposed by the regulatory bodies. Before medical devices get approved, they must undergo safety and efficacy evaluations. However, failure to comply with such regulations and laws may hinder new product launches, adversely affecting market growth.

Thus, the sterility of bioactive glasses is a major concern for manufacturers and distributors. Recalls have resulted in corrective procedures for the patient on several occasions. Hence, such challenges impede the growth of the bioactive glass market during the forecast period.

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Bioactive Glass Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 16.98%

Market growth 2023-2027

USD 970.22 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

16.04

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 43%

Key countries

US, UK, China, India, and Japan, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Arthrex Inc., BioMin Technologies Ltd., Bonalive Biomaterials Ltd., Curasan Inc., Ferro Corp., GlaxoSmithKline Plc, Johnson and Johnson Services Inc., Koninklijke DSM NV, LASAK s.r.o., Matexcel, Merck KGaA, Mo-Sci Corp., NanoFUSE Biologics LLC, NORAKER, NovaBone Products LLC, Pulpdent Corp., SCHOTT AG, Stryker Corp., Synergy Biomedical LLC, and Zimmer Biomet Holdings Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio