Global Bioceramics Market - Overview
In 2017, the bioceramics market stood at a valuation of USD 12.5 Bn and is projected to witness an impressive growth over the next couple of years. Bioceramics are ceramic materials developed to be used in dental and medical implants. The compatibility of bioceramics to gel with human organs or muscles makes it a viable product. The large number of surgeries which require transplants can induce the need for bioceramics. The global bioceramics market report by Market Research Future (MRFR) highlights trends and opportunities for the period between 2020 and 2028 (forecast period).
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The global bioceramics market is expected to touch a value of USD 19 billion by 2023. It stood at USD 12.5 billion in 2017. The growing dental sector globally is the major driver of the market. Large number of dental clinics, dentists, and the large population requiring oral consultation can bode well for the market growth. The large geriatric pool in Asia Pacific as well as the need for implant procedures can bolster the market demand. Possible treatment methods for cancer is expected to drive the demand for bioceramics.
High prevalence of osteoarthritis and increasing use of ceramic materials in dental applications can fuel the market growth. Better access to advanced facilities, surgical intervention to solve complicated medical diseases, and the rising disposable income levels are factors expected to drive the market. Rising research and development in Europe and North America in ceramics and medical advancements can provide a stellar growth rate to the global bioceramics market. Minimally invasive procedures and reduced prices of surgeries can be lucrative for the market in the coming years.
But availability of medical polymers and fluctuations in raw material prices can hamper the global bioceramics market growth.
Global Bioceramics Market – Prominent Players
Collagen Matrix Inc. Royal DSM, CeramTec, Nobel Biocare Services AG, Morgan Advanced Materials, Sagemax Bioceramics Inc, Carborundum Universal Ltd, CAM Bioceramics B.V., Dentsply Sirona, DOCERAM Medical Ceramics GmbH and Amedica Corporation.
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Bioceramics Market - Segments:
The global bioceramics market is segmented by material and application.
By material, it is segmented into carbon, zirconia, calcium phosphate, aluminum oxide, and others. The aluminum oxide segment held the largest market share in 2017. It can continue to dominate the forecast period. However, zirconia is expected to register the fastest growth rate during the assessment period.
By application, it is segmented into biomedical, orthopedic, dental implants, and others. Dental implants will dominate the global bioceramics market till 2023, but the orthopedic segment can exhibit a stellar growth rate during the forecast period.
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Bioceramics Market - Regional Analysis:
Europe, Asia Pacific (APAC), North America, and Rest-of-the-World (RoW) are regions covered in the global bioceramics market report.
Europe accounted for the largest market share in 2017 due to a large and established healthcare ecosystem. The large geriatric populace in Italy, United Kingdom, France, and Germany will serve as a consumer base. Large number of surgeries and implant procedures and the massive dental applications can boost the global bioceramics market demand till 2023.
North America and APAC are two major regions have huge potential for the global bioceramics market. High number of bioceramic material and large allocation of healthcare expenditure can drive the North America market. On the other hand, APAC is driven by the improving healthcare infrastructure, rise in medical tourism, and new reforms. Initiatives by governments to introduce patient-friendly prices for implants to increase penetration in rural and remote regions can be lucrative for the market growth.
Industry/ Innovation/ Related News
The International Space Station has decided to upgrade its facility using bioceramics. Relying on additive printing and bioceramic materials, the Space Station has developed ceramic manifolds which are meant to replace polymer manifolds. They were found to be highly compatible with larger components and further research is being conducted on integration of the said components.
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