Medical ceramics, also called as bioceramics, are extensively used in medical sector as dental implants, surgical implants, bone implants, and various other devices, mainly due to their biocompatibility, flexibility, nontoxicity, resistance to wear, and greater mechanical strength. Materials such as alumina, zirconia (TZP), silicon nitride, and silicon carbide, among others are used in producing ceramics. Growing number of cardiovascular, orthopedic, and dental diseases has led to a huge demand for medical ceramics, thereby driving the overall market towards growth.
Market Drivers & Restraints
The growth of the global market for medical ceramics is primarily influenced by the following factors:
- Increasing demand for implantable electronic devices
- Strategies like expansion and mergers & acquisitions adopted by market players
- Easy availability of metal substitutes
- Growing healthcare sector
Moreover, increasing implementation of nanotechnology in medical ceramics is also expected to create an array of growth opportunities for this market over the coming years.
Although the medical ceramics market is growing at a steady pace, it may be hampered by a few factors like the strict clinical and regulatory processes for the use of medical ceramics, time-consuming processes, expensive clinical trials, and unfavorable healthcare reforms in the U.S.
Market Predictions
Projected to grow at a CAGR of 6.4% during the forecast period, the size of the global medical ceramics market is expected to reach USD 16.3 Billion by the end of 2020. At present, Asia-Pacific is leading the market with the highest share, and will continue to do so from 2015-2020, owing to the huge demand from end-use applications and developments in healthcare facilities, especially in China, India, Japan, South Korea, and Indonesia.
Based on materials, the bio-inert ceramics segment is estimated to be the largest and the fastest-growing market during the projected period, because of the rising demand from end-use applications like dental and orthopedic implants. Whereas on the basis of application, the segment of dental implants holds the largest market share, and is also expected to be the fastest-growing segment in this market.
Some of the key players in the medical ceramics market are CoorsTek Inc. (U.S.), CeramTec GmbH (Germany), Kyocera Corporation (Japan), Morgan Advanced Materials (U.K.), and DePuy Synthes (U.S.).
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Research Scope
According to researchers, the global market for medical ceramics has been analyzed and forecasted on the basis of following segmentation:
- Material: Bio-inert Ceramics, Bio-active Ceramics, Bio-resorbable Ceramics, Piezo Ceramics
- Application: Dental Implants, Orthopedic Implants, Surgical Instruments, Diagnostic Instruments, Implantable Electronic Devices, Others
- Geography: Asia-Pacific, Europe, North America, RoW
