Bioglass Fiber Market size is anticipated to be worth USD 21 million by 2032, according to a recent research report announced by Global Market Insights Inc.
Rising expenditure on the healthcare sector and technological advancements in bioglass fiber as the chief drivers of the bioglass fiber industry trends. Furthermore, the snowballing number of clinics in developed countries is estimated to boost product demand in North America, thereby benefitting the overall market outlook. The presence of opportunities for strategic acquisitions is also defining business trends.
Increasing uptake of oral health checkups to bolster glass ceramic bioglass fiber demand
With respect to type, the study classifies the bioglass fiber market into conventional silicate glass, glass ceramics, and borate-based glasses. The glass ceramics segment is anticipated to grow at more than 7.5% CAGR through 2032 as a result of the high utilization of glass ceramics in advanced dental applications, such as filler materials, corrosion inhibitors, and so on. The high focus of people on oral health in developed nations is speculated to foster the demand for glass ceramics.
Upsurge in orthopedic procedures to push calcium & sodium carbonates adoption
Heavy demand for calcium & sodium carbonates for fabricating bioactive glass fiber, especially for use in elderly people. Bioglass fiber market size from the calcium & sodium carbonates material segment valuation is projected to reach USD 9,600 thousand by the end of 2032. The rapid development of advanced glass fibers for utilization in orthopedic applications, specifically in areas with a sizable elderly population, is foreseen to drive segment share over the forecast timeframe.
Browse key industry insights spread across 375 pages with 587 market data tables and 26 figures & charts from the report “Bioglass Fiber Market Size By Type (Conventional Silicate Glass, Glass Ceramics, Borate-Based Glasses), By Raw Material (Silicone Resins & Dioxide, Calcium & Sodium Carbonates, Sodium Phosphate Dibasic), By Application (Dental, Orthopedic, Grafting Biomaterials), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032”, in detail along with the table of contents:
Expanding aging population to augment orthopedic application segment revenues
Deployment of bioglass fiber in orthopedic applications is primed to remain high in the coming years. Bioglass fiber market share from orthopedic application segment is set to be valued at around USD 7,900 thousand by 2032. The increasing aging population and mounting per capita income are poised to promote the use of bioglass fiber in orthopedic applications. The segment growth is also driven by the burgeoning cases of musculoskeletal diseases, including spine diseases, and degenerative diseases, as well as sports injuries, among others.
Surging demand for dental and bone repair procedures to help Europe industry expansion
Europe bioglass fiber market is expected to reach more than USD 3,450 thousand in revenue by 2032. The region may emerge as a major hub for this industry owing to the rising demand for dental and bone repair procedures in the European nations. This follows a significant growth in the elderly population suffering from skeletal damage and lack of bone liquidity, which is foreseen to promote the uptake of bioactive glass fiber in the region.
Strategic mergers & acquisitions to remain a key growth strategy
Competitive landscape of bioglass fiber market is expected to witness a series of lucrative partnerships by industry players. For instance, in September 2021, Heraeus Group, a German technology company, acquired ETS Technology Holdings, an AI technology laboratory firm, with aim of enhancing production capabilities and improving patient care by delivering innovative solutions. Some of the key business players profiled in the report include Prosidyan, Inc., Vetra Biomaterials, ETS Wound Care LLC, Mo-Sci Corporation, Corbion Biotech, Inc., and Vetra Biomaterials.