Medical Ceramic Market Synopsis:
Medical ceramic is a versatile, biomaterial used to make dentures, surgical implants, prosthetics & joints, and various medical tools and devices. Medical ceramics also find their applications in tissue engineering and gene therapy. Undoubtedly, these ceramics garner huge traction in the healthcare industry which drives the market growth of medical ceramics on the global platform.
Recognizing the impressive growth records, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global medical ceramics market will register a CAGR of 6.5% from 2017-2023, witnessing exponential accruals by 2023.
The augmented demand and increasing application areas in medical space are some of the key driving forces escalating the medical ceramics market. Additional factors such as the growing prevalence of cardiovascular disorders, rising geriatric population leading to increasing overall patient population, the rise in dental care backed by the growing awareness among people towards dental health.
Moreover, factors such as government initiatives and support, rising demand for advanced treatment, and growing market players offering newer products are providing the impetus to the market growth.
On the other hand, high costs of medical ceramics are projected to obstruct the market growth, restricting its uptake and uses. However, this also further encourages the development of similar, low-cost product. Nevertheless, increasing sales of medical ceramics are projected to define the market landscape.
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The fervent players leading the global medical ceramic market include Zimmer Holdings, Inc., CoorsTek Inc., Straumann, Kyocera Corporation, Stryker, 3M ESPE, H.C. Starck GmbH, Nobel Biocare Services AG, DePuy Synthes, and Morgan Advanced Materials.
Global Medical Ceramics Market – Segments
The MRFR analysis is segmented into four key dynamics;
By Types: Bioinert Ceramics and Bioactive Ceramics among others.
By Applications: Dental, Orthopedic, Plastic Surgery, Diagnostic Instruments, and Cardiovascular among others.
By End-Users: Hospitals, Clinics and Specialty Centers among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World (RoW).
Global Medical Ceramics Market – Competitive Landscape
Matured players are investing in internal R&D while acquiring other promising firms. These well-established players operating in the Medical ceramics market are targeting more investments in technology development and upgrading their existing products. These vendors strive to deliver the high-purity product that is manufactured to the highest standards.
Industry Related News:
August 28, 2018 – A team of Scientists at City University of Hong Kong published their study of a ground-breaking advancement in materials they have developed. These scientists claim this research as the World’s first-ever 4d printing for ceramics. To overcome the challenges presented by the high melting point of ceramics which makes it difficult to use conventional laser printing on to ceramics, these scientists have developed a novel “ceramic ink,” which is a mixture of ceramic nanoparticles and polymers.
These flexible and stretchable ceramic precursors allow complex shapes, such as origami folding. With proper heat treatment, ceramics with complex shapes can be made. The existing 3D-printed ceramic precursors, which are usually difficult to deform, also hinder the production of ceramics with complex shapes.
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Global Medical Ceramics Market – Geographical Analysis
The North America medical Ceramics market backed by the presence of matured players and substantial investments is estimated to account for the leading market, globally, holding the largest market share. Also, companies involved in the manufacturing of these ceramics are well capable of delivering a range of customized solutions.
Owing to the augmented uptake of software solutions for healthcare administration and availability of complimenting resources, the market is projected to create a large revenue pocket during the forecast period.
Additional factors substantiating the market growth in the region include increasing number of patients suffering from chronic diseases & disorders that eventually augment the demand for technologically advanced treatments and products along with rising government support, growing demand for the ceramics for medical use.
Globally, Europe region stands as the second largest market for the medical ceramics. Extensive technological advancements and the augmented adoption of advanced ceramics among the healthcare providers mainly in the UK, Germany, and France coupled with the resurging economy in the region fosters the market growth in the region. Also, the rising cases of dental disorders along with rising population awareness towards the health are promoting the growth of the medical ceramics market in the region.
The Asia Pacific region is rapidly emerging as one of the lucrative markets for the medical ceramics. Moreover, factors such as, increasing incidences of recorded chronic diseases, availability of new treatment methods, and the ever-increasing population that is increasingly gaining awareness towards the benefits of health management, foster the market growth in the region. Besides rising government support and improving per capita health care expenditures are positively impacting the market growth in the region.
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