Selbyville, Delaware, Dec. 19, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the global Bioglass Fiber Market was estimated at USD 10 Mn in 2022 and is expected to surpass a valuation of $21 million by 2032, progressing at a CAGR of 7.7% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
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.
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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.
Key reasons for Bioglass Fiber Market growth:
- Rapidly increasing aging population across the globe.
- Proliferating healthcare expenditure will positively impact the industry size.
- Rising number of clinics will propel product demand in North America.
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 industry size from the calcium & sodium carbonates material segment valuation is projected to reach USD 9,600 thousand by 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.
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.
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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.
Partial chapters of report table of contents (TOC):
Chapter 5 By Raw material
5.1 Global market by raw material insights
5.2 Silicone resins & dioxides
5.3 Calcium & sodium carbonates
5.4 Sodium phosphate dibasic
5.5 Others
Chapter 6 By Application
6.1 Global market application insights
6.2 Dental
6.3 Institutional Foodservices
6.4 Online Food Ordering
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
