Medical ceramics are primarily used in the making of surgical implants, dentures, prosthetics & joints, and various medical equipment & devices. This versatile biomaterial also finds its vast applications in tissue engineering and gene therapy. The extensive application leads to garnering huge market prominence for medical ceramics, worldwide. Resultantly, the medical ceramics market is witnessing colossal traction on a global platform.
According to Market Research Future (MRFR), the global Medical Ceramics Market is projected to register 6.5% CAGR during 2017-2023, witnessing exponential accruals by2023. Augmented demand and growing application areas in the medical space are some of the key driving forces behind the growth of the medical ceramics market. Additionally, the growing prevalence of cardiovascular disorders alongside the rising geriatric population foster market growth.
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Rise in dental care due to the growing awareness among people for the overall oral health impacts the growth of the medical ceramics market. Also, the increasing patient population for dental diseases influences market growth, hugely. Besides, government initiatives and funding support help increase the size of the global medical ceramics market.
Moreover, factors such as the rising demand for advanced treatment and increasing product developments in the medical devices and surgical equipment market provide a massive impetus to the market growth. Conversely, high costs of medical ceramics are expected to act as a major growth impeder for the growth of the market, encouraging the development of similar, low-cost materials. Nevertheless, increasing sales of medical ceramics would support market growth, defining the growing market landscape.
Global Medical Ceramics Market – Segments
For the scope of understanding, the report has been segmented into four key dynamics.
By Type : Bioactive Ceramics, Piezoceramics, Bioinert Ceramics, Bioresorbable Ceramics, and others.
By Application : Orthopedic, Dental, Plastic Surgery, Cardiovascular & Diagnostic Instruments, and others.
By End-user : Hospitals & Clinics, Specialty Centers, and others.
By Regions : Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Global Medical Ceramics Market – Geographical Analysis
North America dominates the global medical ceramics market due to the presence of many matured players that can deliver a range of customized solutions and their substantial investments. Additionally, factors such as the increasing numbers of patients affected by chronic diseases & disorders substantiate the market growth in the region, creating the demand for technologically advanced treatments & products.
Also, rising demand for ceramic medical products such as dental and bone implants and surgical ceramics is projected to aid in creating a larger revenue pocket for the regional market during the forecast period. Moreover, rising government support and the growing use of ceramics in the manufacturing of medical equipment and devices foster the growth of the regional market. Continuing with the same growth trends, the North American medical ceramics market is estimated to continue with its leading position.
Europe stands second in the global medical ceramics market. Large technological advances and the augmented adoption of advanced ceramics among healthcare providers, mainly in the UK, Germany, and France, drives the regional market growth. Also, rising cases of dental disorders and an increase in population awareness towards health are accelerating the growth in the medical ceramics market. Besides, the resurging economy in the region acts as a major tailwind behind the growth of the European medical ceramics market.
Asia Pacific is rapidly emerging as a lucrative market for medical ceramics, globally. Factors such as the rising cases of demand for Joint replacements that are coated with bioceramic materials to reduce wear and inflammatory response are driving the regional market growth. Moreover, increasing incidences of chronic diseases are creating a huge demand for pacemakers, kidney dialysis machines, and respirators.
Besides, rising government support and the increase in the per-capita healthcare expenditures are impacting the market growth in the region, positively. With the ever-increasing population in the region that is increasingly gaining awareness for health management, the APAC medical ceramics market is forecasted to register an impressive CAGR during the assessment period.
Global Medical Ceramics Market – Competitive Analysis
Highly competitive, the medical ceramics market appears to be fragmented, with many well-established players forming the competitive landscape. Brand reinforcement, innovation, and new technology launch remain the popular trends for the key players in the market.
Matured players invest colossally in R&D and to acquire other promising companies. These well-established players target more investments in the development of technology to upgrade their existing products. They also strive to deliver the high-purity product manufactured with the highest standards.
Major Players:
Players leading the global medical ceramics market include Zimmer Holdings, Inc., Straumann, CoorsTek Inc., Kyocera Corporation, 3M ESPE, Stryker, H.C. Starck GmbH, DePuy Synthes, Nobel Biocare Services AG, and Morgan Advanced Materials, among others.
Industry/Innovation/Related News:
December 02, 2019 —- Advanced Medical Solutions Group plc. (AMS – the UK), announced its acquisition of a leading global innovative surgical biomaterial technologies provider – Biomatlante SA (France). Biomatlante has a patent-protected technology platform with a wide range of biomaterial products used in orthopedic, spinal, dental, and sports surgery and a development pipeline of next-generation products.
The acquisition would strengthen AMS’s product portfolio, R&D pipeline, and market access to a wide range of biomaterial products. Additionally, the deal provides the Group with a range of revenue-generating surgical products and an R&D pipeline of complementary bio-surgical technologies. It would also offer significant growth potential in additional surgical markets.
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