New York, USA, June 27, 2022 (GLOBE NEWSWIRE) — Medical Ceramics Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), Medical Ceramics Market Information by Type, Application, End-User, and Region – Forecast till 2030”, the market is expected to reach USD 28.9 Billion at CAGR of 5.1% between 2022 and 2030.
Medical Ceramics Market Synopsis
Medical implants can be described as artificial devices used for replacing missing or damaged biological parts. Implants help monitor body functions, provide support to tissues and organs and deliver medication in different applications including orthopedic, cardiovascular, and dental.
The worldwide market benefits from the surging healthcare needs of the elderly population, advances in medical technologies, and the escalating cases of chronic diseases, like cardiovascular diseases, osteoarthritis, congenital disorders, and neuropathic diseases, among others.
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|Market Size||USD 28.9 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Growing awareness about oral hygiene and aesthetics|
|lunch of new devices, technological advancement and increasing investments in the homecare centers|
Medical Ceramics Market Competitive Landscape:
The affluent firms in the medical ceramics market are
- Zimmer Biomet Holdings Inc. (US)
- Institut Straumann AG (Switzerland)
- 3M (US)
- DePuy Synthes (US)
- Stryker (US)
- CoorsTek Inc. (US)
- CeramTec (Germany)
- Nobel Biocare (Switzerland)
- Kyocera Corporation (Japan)
- Rauschert Group (Germany)
Medical Ceramics Market USP Covered:
Medical ceramics have extensive applications in the medical field, from producing medical devices as well as equipment, plastic surgery and hip and bone replacement. Rising need for bioresorbable materials combined with the innovations in the medical sector favor the medical ceramic market. While intense competition between the players active in North America, Europe and Asia Pacific is quite prevalent, renowned stakeholders will be presented with plenty of lucrative opportunities in the following years.
While the medical sector is leveraging the wide range of benefits of medical ceramic products, the majority of the companies in the industry are focused on improving the efficiency and quality of their products. Consequently, the demand for a variety of medical ceramic products like glass ceramics, piezoceramics, and bioinert ceramics, has been surging gradually.
Furthermore, the surge in government investments along with the emergence of several initiatives seems to be fostering the medical ceramics market. To cite a reference, the UK government has planned to invest around EUR 150 million in the development of new medical technologies in the country.
The production of medical ceramic products involves complex and cumbersome processes as well as expensive clinical studies. These products are implanted inside the body of the patient; and are required to be biocompatible, complying with the ISO biocompatibility testing standards.
But it is tough to determine the biocompatibility level until the later phases of the clinical trials, making investors and companies apprehensive about spending on this market. Moreover, regulatory procedures are restrictive, complicated, and dependent on the composition of the ceramics as well as their future applications. This makes the overall approval process quite expensive, as well as time-consuming. These factors will most likely hamper the market growth in the following years.
Browse In-depth Market Research Report (155 Pages) on Medical Ceramics:
Medical Ceramics Market COVID 19 Analysis
The COVID-19 outbreak’s significant impact has led to numerous severe repercussions on people’s health status across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. These factors will most likely be unfavorable for the medical ceramics market in the years to come.
Medical Ceramics Market Segmentation
Different types of medical ceramics in the market are bioactive ceramics, bioinert ceramics, piezoceramics and bioresorbable ceramics. The bioinert ceramics segment can be divided into alumina, zirconia, and more. The bioactive ceramics segment is sub-segmented into glass ceramics and hydroxyapatite. The bioinert ceramics segment occupies the highest share of 44.4% in the market owing to the heightened demand for zirconia ceramics in the medical and dental fields.
With respect to application, the industry caters to plastic surgery, orthopedic applications, dental applications, medical devices, cardiovascular, and others. The dental applications can be sub-segmented into dental crowns & bridges, dental implants, inlays & onlays, dental bone grafts & substitutes and braces. The orthopedic application-based segments are fracture fixation, orthobiologics and joint replacement. The soaring number of medical device developers along with the mounting awareness of medical ceramics’ advantages in medical procedures enhance the medical ceramic market size.
The major industry end users are specialty centers, hospitals & clinics, and more. Hospitals & clinics are progressively taking up advanced technologies to treat a range of dental conditions. The hospitals & clinics segment has taken the lead in the market with the highest valuation of USD 9,757.53 million, on account of the accelerated number of orthopedic and dental surgical operations being conducted worldwide.
Medical Ceramics Market Regional Insights
The American market takes the lead with the biggest share, in response to the significant burden of dental decay cases, rising injuries, and the rapid uptake of medical ceramics within the medical devices sector. The substantial demand for dental services as well as the abundant availability of skilled dental professionals will stimulate the growth of the American market.
Europe is one of the most bankable markets for medical ceramics, given the escalating number of patients requiring knee and hip replacements, and the widespread availability of medical products. The expansive geriatric population adds to the market value as well.
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Asia Pacific will most likely procure the fastest growth rate in the years ahead, thanks to the huge number of elderly patients affected by tooth decay, gum disease, and dental avulsion.
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