Medical Ceramics Market Forecast (2022-2027)
Medical Ceramics Market size is estimated?to reach $22.3 billion?by 2027,?growing at a CAGR of 5.6%?during the forecast period 2022-2027. Medical ceramics can be delineated as biocompatible materials which are used in the fabrication of several tools and devices for the medical industry. A variety of ceramic materials such as hydroxyapatite, bioactive glass, zirconia, tricalcium phosphate, pyrolytic carbon, and others are considered during manufacturing processes. Apart from the fabrication of artificial heart valves pyrolytic carbon is widely used as a thermal interface material attributed to its sound electronic thermal management. However, injection-molded ceramics are capturing a larger market share due to their heat resistance capabilities, corrosion, and repeatability. Besides ceramics, nowadays polyethylene composites found many applications in the production of medical equipment like catheters and implants due to their flexural strength and other enhanced mechanical properties. Medical ceramics share a multitude of applications from cardiovascular surgeries to cosmetic procedures. The medical ceramics market outlook is exceptionally captivating, and it is attributable to heightened demand along with research activities. Accumulating knee replacement incidences as arthritis and other joint abnormalities are expanding, the enormous prevalence of cancer, heart attacks, cosmetic procedures, and the rising elderly population are factors set to drive the growth of the Medical Ceramics Market for the period 2022-2027.
Report Coverage
The report:?“Medical Ceramics Market Forecast (2022-2027)”,?by Industry ARC, covers an in-depth analysis of the following segments of the Medical Ceramics Market.
By Material Type:?Braze Alloys, Bio-Active Ceramics (Tricalcium Phosphate, Hydroxyapatite, Calcium Phosphate), Bio-Inert Ceramics (Silicon Nitride, Zirconia, Alumina, Pyrolytic Carbon, and others), Piezo Ceramics, Bioresorbable, and Others.
By Application:?Disposables (Gloves and Vials), Plastic Surgery Equipment, Cardiovascular Disease Treatment Devices, Implantable Electronic Devices, Orthopedic Implants, Dental Implants, Surgical and Diagnostic instruments, and Others.
By End User:?Hospitals, Cancer Treatment Centers, ASCs, Research facilities, and Others.
By Geography:?North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).
Key Takeaways
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Medical Ceramics Market Segment Analysis-By Material Type
The Medical Ceramics Market based on the material type can be further segmented into brazing alloys, bio-active ceramics (tricalcium phosphate, hydroxyapatite, calcium phosphate), bio-Inert ceramics (silicon nitride, zirconia, alumina, pyrolytic carbon, and others), piezo Ceramics, bioresorbable, and others. The bioinert ceramics segment held the largest share in 2021. The growth is owing to widescale use in the reinstatement of relapsed tissues or organs in patients’ bodies due to their outstanding chemical stability. On another hand, the sturdiness, biocompatibility, and corrosion control are a sight to hold. Zirconia ceramics dominate other materials, and it is ascribed to its heavy strength and wide-ranging applications. It is widely used in dental procedures as zirconia crowns and bridges are considered to be a better option due to their appealing appearance and high quality. Furthermore, bioinert along with the bioactive segment is estimated to be the?fastest-growing segment with a CAGR of 6.5%?over the forecast period 2022-2027. This growth is owing to augmenting demand for dental refurbishments and orthopedic procedures. Consequently, the demand for injectable fillers such as “bone void filler” of bioactive ceramic materials hydroxyapatite and calcium is heightening.
Medical Ceramics Market Segment Analysis-By End User
The Medical Ceramics Market based on end-user can be further segmented into hospitals, cancer treatment centers, ASCs, research facilities, and others. The hospital segment held the largest share in 2021. Hospitals are the first point of contact for people throughout the globe, therefore, with a humungous upsurge in cardiovascular diseases and musculoskeletal complications, the overall demand for in-hospital surgical procedures is enlarging. Hospitals are considered as well-equipped medical facilities that provide all-encompassing treatments. Moreover, the availability of top-of-the-line professionals ensures safe treatments for patients. Similarly, the?hospital segment is estimated to be the fastest-growing with a CAGR of 6.8%?over the forecast period 2022-2027. This growth is owing to the rapid push of governments and private players to improve the healthcare infrastructure. On another hand, being a competitor, clinics, ambulatory surgical, and cancer treatment centers do not have much of a threat to the hospitals market due to their one-dimensional nature. These facilities Are proficient in diagnosing or treating a single disease.
Medical Ceramics Market Segment Analysis-By Geography
The Medical Ceramics Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the rest of the World. Asia-Pacific held the largest share with 37% of the overall market in 2021. The growth in this segment is owing to the factors such as the widespread prevalence of disease throughout the region. The trend is anticipated to soar considering the proliferating old-age population in Asian countries. On another hand, being home to emerging economies such as India, China, and Indonesia the disposable income among residents is plunging day after day which in turn allows them to undergo several medical treatments and cosmetic procedures (Plastic surgery, nose reshaping, and many dental procedures). A report published by “Global Times” a mouthpiece of the communist party of China revealed despite the pandemic China exported worth $3.36 trillion dollar goods and services in 2021 that too with a trade surplus of $676.4 billion. Therefore, the rising affluence of Asian countries has resulted in the refinement of overall healthcare infrastructure. Moreover, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the lower cost of healthcare and aesthetic procedures as compared to other wealthy regions of the globe. For instance, a patient undergoing dental implants in the US is supposed to pay somewhere around $3,000-$5,000, whereas, the same procedure will cost only $900-$2,000 in India.
Medical Ceramics Market Drivers
Rising cardiovascular and musculoskeletal disease is Anticipated to Boost Product Demand.?
Cardiovascular illnesses such as cancer and heart attack have emerged as a leading cause of death throughout the globe. Worsening air quality due to heavy CO2 emissions, poor plastic management, stubble burning by farmers, prolonged sittings, diminished immunity, and poor ingestion habits are the primary factors supporting the massive spread of such maladies. On another hand, according to a report published by the World Health Organization (WHO) in 2021, nearly 1.7 billion people globally had some sort of musculoskeletal complications. Out of which, lower back disorders with more than 500 million people instigated the maximum burden. All these aforementioned factors are acting as a prime drivers in the growth of the medical ceramics market.
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Augmenting cosmetic procedures is Expected to Boost Product Demand.
The world's old age population is on the rise more than 38-40% of Japan’s total population is anticipated to turn elder that is over 60 years within the next 28-30 years. Consequently, a greater number of people are undergoing cosmetic procedures which include plastic surgeries (liposuction, rhinoplasty, facelift, breast augmentation, and others). Moreover, with heightening disposable income people are finding themselves able to undergo such procedures more than ever. Besides, African and Asian nations majority of the North American and European nations enjoy more than $60,000 GDP per capita. The shooting up of research activities in order to produce novel and more effective medical devices is another compelling reason behind the growth of the medical ceramics market.
Medical Ceramics Market?Challenges
Obstructed aesthetic surgeries due to COVID-19, the requirement of heavy flows of hard cash to conduct research is Anticipated to Hamper Market Growth.
The COVID-19 outbreak has inflected unrepairable damage to the world economy. According to WHO, globally, as of 21 April 2022, there have been 505,035,185 confirmed cases of COVID-19, including 6,210,719 deaths. The medical ceramics market has too witnessed a negative impact. As people were cooped inside their homes for the last 1 and half years in the wake of the breakdown of the transmission chain of the virus, several scheduled aesthetic surgical procedures faced setbacks as they were called off. On another hand, an innumerable amount of riches is a primary prerequisite for conducting research activities which can hamper the growth in the respective market as any country is going through an economic crisis.
Medical Ceramics Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Medical Ceramics Market. Key companies in this market are-
Recent Developments
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Report Code: HCR 1300
Report Code: HCR 0176
Report Code: CMR 0268?
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