The Medical Ceramics Market size is forecast to reach $19.22 billion by 2025, growing at a CAGR of 6.21% during the forecast period 2020-2025. Medical ceramics are Biomaterials that find their application in various medical processes. The growing prevalence of Cardiovascular disorders and rising geriatric population leading to a rise in the patient population is the major factor driving the growth of the market. Rising demand for advanced treatment is set to further enhance the overall market demand for the Medical Ceramics Market during the forecast period 2020-2025.
Medical Ceramics Market Segment Analysis – By Application
The Dental Implants segment held the largest share in the Medical Ceramics Market in 2019 and is estimated to grow at a CAGR of 6.78% during the forecast period 2020-2025. Ceramics possess high mechanical strength, outstanding biocompatibility, tribological properties as well as dimensional stability. Owing to these characteristics, ceramics are considered as the ideal materials for dental implants uses. The usage of medical ceramics is increasing rapidly with the advancement of specialized ceramics. Moreover, they are also compatible and adaptable than any other used bio-metals. This growing number of medical procedures is a consequence of factors such as the rising demand for minimally invasive medical procedures, the introduction of innovative products increasing the efficacy of therapeutic and diagnostic medical procedures and constantly improving healthcare infrastructure. The practice of medical ceramics in dental and orthopaedic applications has been widespread. Orthodontic ceramic braces are as effective as metal braces but are approximately invisible which makes it a more attractive cosmetic option for the wearer. Ceramic implants are widely used to reconstruct arthritic or fractured joints in the knee, hip, and shoulder. Dental Implants is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
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Medical Ceramics Market Segment Analysis – By End Users
The Hospitals & clinics segment held the largest share in the Medical Ceramics Market in 2019. Medical ceramics or bio ceramics are frequently used in the medical field owing to their biocompatibility. They are majorly used in surgical implants, prosthetics, and numerous medical tools and devices. Medical ceramics have been permitted by many regulatory authorities such as the U.S. Food and Drug Administration (FDA). The non-toxicity and high mechanical strength of medical ceramics with minimal or no tissue reaction are anticipated to enhance the demand in hospitals & clinics. Hospitals & Clinics are set to be the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025.
Medical Ceramics Market Segment Analysis – By Geography
Asia Pacific dominated the Medical Ceramics Market in 2019 with a share of more than 37.18%, followed by Europe owing to the growing demand for plastic surgeries, increase in cancer incidence, growing prevalence of cardiovascular diseases, and growing number of conferences and symposiums. The rising demand for medical device outsourcing in emerging economies such as India and China, the presence of high unmet medical needs and constantly improving healthcare infrastructure in this region is also having a positive effect on the market. Furthermore, the fact that Asian countries such as China produce cost-effective medical devices catering to patients with lower disposable incomes, will serve the Asia-Pacific medical ceramics market as a driver.
However, Europe is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the high usage rates of implantable medical devices and diagnostic imaging equipment coupled with the presence of a relatively larger number of medical device manufacturers.
Medical Ceramics Market Drivers
Growing demand for medical ceramics in plastic surgeries and wound healing applications
Growing demand for medical ceramics in plastic surgeries and wound healing applications is increasing the growth of the Medical Ceramics Market. Replacing damaged or diseased parts of the body is an increasingly important part of medicine, and biomedical materials are playing a vital role in this field. Biomaterials that are employed in surgery cover a broad range of metals, polymers, and ceramics. Among these materials, ceramics possess the highest degree of biocompatibility with physiological environments. The mechanism of bio ceramic-tissue attachment is directly related to the type of tissue response at the implant interface Thus, increasing the growth of the Medical Ceramics Market during the forecast period 2020-2025.
Increasing User Revenues And Rising Requirement For Clinical Intervention & Medical Services
Increasing User Revenues and Rising Requirement for Clinical Intervention & Medical Services is increasing the growth of the Medical Ceramics Market. The transitioning demographics are expected to power the growth of the medical ceramics market. The increasing osteoarthritis population might positively affect the utilization of medical ceramics all over the world, thereby boosting the medical ceramics market. On the other hand, volatility in alumina costs might hinder the development of the global medical ceramics market. Nevertheless, risings hip & knee joint replacements and implant surgeries are likely to offer lucrative avenues for the growth of global medical ceramics in the years to come. Increasing investment by market players to maintain their status is set to foster the growth of the medical ceramics market. Thus, increasing the growth of the Medical Ceramics Market during the forecast period 2020-2025.
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Medical Ceramics Market Challenges
The rigorous clinical and regulatory process
Some of the factors that are set to impede the growth of the Medical Ceramics Market are the rigorous clinical and regulatory processes. Although medical ceramics are known to be nontoxic, there are cases where very small traces of radioelements are found even in the ceramics that are fully refined. As even trace quantities of radioelements can have devastating effects on tissues and organs, this becomes a highly debatable concern and could lead to negative sentiments among consumers. This factor is expected to hamper the overall growth of the Medical Ceramics Market during the forecast period 2020-2025.
Medical Ceramics Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Medical Ceramics Market. In 2019, the Medical Ceramics Market share is consolidated by the top ten players present in the market. Medical Ceramics Market, the top 10 companies are CoorsTek, CeramTec, Kyocera, Morgan Advance Material, NGK Spark Plug, DePuy Synthes, Zimmer Biomet, Rauschert, Straumann, H.C. Stark, and DSM among others.
In March 2016, Kyocera acquired an international cutting tool company called SGS Tool Company for $89 million.
The Asia Pacific dominated the Medical Ceramics Market in 2019 owing to the increasing prevalence of chronic diseases and rising awareness about the health and availability of new treatment methods. Medical Ceramics Market scope for different regions will be provided in the final report.
Increasing research activities for the development of novel medical ceramics, growing demand for medical ceramics in plastic surgeries and wound healing applications is likely to aid in the market growth of the Medical Ceramics Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Medical Ceramics Market report.
Rigorous clinical and regulatory process is poised to create hurdles for the Medical Ceramics Market.
Related Reports :
A. Dental Implants Market
B. Biomaterials Market
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