Medical Ceramics Market โ€“ A market with high CAGR and return on investment by 2023

22/feb/2021 19:00:38 Market Research Future Contatta l'autore

Market Highlights

Medical ceramics are biomaterials that find their applications in various medical processes. Medical ceramics are commonly used in dentistry, surgical implants, prosthetics, and various medical tools and devices. Medical ceramics also find their applications in gene therapy and tissue engineering.

The global medical ceramics market is expected to grow due to rising cases in joint replacements, growing dental caries, and rising older population leading to rise in patient population. For instance, according to the World Health Organization (WHO), globally around 60 to 90 percent of school children are assumed to have dental cavities.

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Global medical ceramics market is expected to grow at a CAGR of 6.5% during the forecast period.

Regional Analysis

The Americas dominates the global medical ceramics market owing to the rising aging population, growing case in dental cavities and increasing rate in joint replacement procedures. Additionally, rising older population along with increasing healthcare expenditure are likely to enhance the growth of medical ceramics in the North American region. According to the United States Census Bureau, around 49.2 million adults aged 65 and above were present in the U.S. as of 2016. Similarly, according to the Center for Disease Control and Prevention, in 2015, around USD 3.2 trillion were spend in healthcare expenditure in the U.S. Additionally, according to the American Heart Association, 31% of the deaths in the U.S. were due to cardiovascular disorders.

Europe accounts for the second largest market due to increasing aging mass and increasing joint replacement rates. Additionally, increasing government initiatives and the rising demand for technologically advanced treatment are driving the growth of the medical ceramics market in Europe. For instance, Eurostat estimated that over 19.2% of the population in Europe was aged 65 and above. This rising older population is likely to drive the growth of the medical ceramics market.

Asia Pacific is the fastest growing market for medical ceramics whose growth is attributed to the rising population which in turn increases the overall patient population and the rising awareness among population regarding dental health. Additionally, increasing healthcare expenditure and the demand for new treatment options along with the rise in the standard of living are likely to drive the growth of the market. India and China are the major contributors to the market growth due to the rapid development of healthcare infrastructure in these regions and growing awareness among the young population.

On the other hand, the Middle East and Africa are expected to witness a slow growth due to limited access to healthcare and lack of awareness among the population. In the Middle East, the growth of the market is driven by the increasing availability of innovative treatment methods for various chronic diseases as well as due to the rise in the standard of living.

Segmentation

The global medical ceramics market is segmented on the basis of type, application, and end-user.

On the basis of type, the market is segmented into bioactive ceramics, bioinert ceramics, piezoceramics, and bioresorbable ceramics. Bioinert ceramics are further sub-segmented into zirconia, alumina, and others. Bioactive ceramics are further sub-segmented into hydroxyapatite and glass ceramics.

On the basis of application, the market is segmented into cardiovascular, dental, orthopedic, surgical instruments, diagnostic instruments, plastic surgery, and others.  Dental is further sub-segmented into dental implants, dental crowns and bridges, braces, inlays and onlays, and dental bone grafts and substitutes. Orthopedic is further sub-segmented into a joint replacement, fracture fixation, and orthobiologics. Joint replacement is further sub-segmented into knee replacement, hip replacement, shoulder replacement, and others.

On the basis of end-user, the market is segmented into specialty centers, hospitals and clinics, and research centers.

Key Players

Some of the key players in the Medical Ceramics market are CoorsTek Inc., Zimmer Holdings, Inc, Straumann, Stryker, Kyocera Corporation, H.C. Starck GmbH, 3M ESPE, Nobel Biocare Services AG, Morgan Advanced Materials, and DePuy Synthes.

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