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The medical ceramics market is estimated to grow at a CAGR of 5.35% between 2022 and 2027. The size of the market is forecast to increase by USD 5,280.32 million. The growth of the market depends on several factors, including the increasing incidence of trauma injuries, the rise in the geriatric population, and lucrative opportunities in emerging economies.
This report extensively covers market segmentation by application (orthopedic, implantable devices, dental, surgical and diagnostic, and others), type (bio-inert ceramics, bio-active ceramics, bio-resorbable ceramics, and piezo-ceramics), and geography ( North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global medical ceramics market as a part of the global commodity chemicals market within the global chemicals market. The global commodity chemicals market covers companies that primarily produce industrial and basic chemicals, including, but not limited to, plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. The market excludes chemical companies that produce diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. Technavio calculates the global commodity chemicals market size based on combined revenue generated by manufacturers of industrial and basic chemicals. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The rise in the geriatric population is notably driving the market growth, although factors such as the high cost of medical ceramics may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Medical Ceramics Market Driver
The rise in the geriatric population is notably driving the market growth. Improvements in healthcare standards and the availability of sophisticated treatment options have increased the life expectancy of individuals. This has subsequently led to the growth of the geriatric population across the world. For instance, the population of individuals aged 60 years increased from 12% in 1950 to 16.5% in 2020. The number is expected to reach 32% by 2050. In developing countries, such as India, this population increased from 6% in 1950 to 14% in 2015, which is expected to reach 20% by 2050.
The rising aging population has increased the incidence of age-related diseases, such as osteoarthritis, osteonecrosis, and rheumatoid arthritis, due to the deterioration of the body's ability to repair cartilage. This is increasing the need for implants to treat and cure such indications, which is driving the growth of the market in focus.
Significant Medical Ceramics Market Trend
The increasing demand for ceramic coating is an emerging trend in the market. Manufacturers of medical devices are now using ceramic coatings during the production of medical components and devices, such as orthopedic and spinal implants. It offers several advantages such as reduced friction and high adhesion.
Alumina and zirconia ceramic coatings are being extensively used in the medical sector, especially for producing ceramic on metal medical components. However, in recent years, manufacturers have shifted toward medical ceramic coatings based on silicon dioxide for use in the medical sector. The use of ceramics in this sector is likely to increase due to the acceptance of new ceramic coating techniques, such as lithium coating, by medical component manufacturers. This trend is expected to propel the growth of the global medical ceramics market during the forecast period.
Major Medical Ceramics Market Challenge
The high cost of medical ceramics is a major challenge impeding the market growth. Implants and medical devices manufactured using medical ceramics are expensive, thus reducing their reach to a large proportion of the global population. The cost associated with their production is high due to the high cost of precursors, thereby increasing the overall production cost.
Manufacturing and fabrication costs associated with the medical ceramic substrate are also higher than substitutes such as titanium alloys. The use of medical ceramics improves the design and efficiency of implants and devices but has a significant impact on their cost. The high price of raw materials and the high expenditure required during the manufacturing process decrease the economies of scale for manufacturers. Such factors are hindering the growth of the global medical ceramics market.
Key Medical Ceramics Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Medical Ceramics Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the orthopedic segment will be significant during the forecast period. Ceramic hip replacement is gaining popularity among orthopedic surgeons and patients because it has low wear and tear compared with other implant materials and helps to minimize trauma and recovery time for the patient.
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The orthopedic segment showed a gradual increase in the market share of USD 4,552.51 million in 2017 and continued to grow till 2021. Advances such as prostheses with better strength and consistency of joints are reducing the cost of implants, and the need for revision surgery and the development of new policies are increasing the number of such procedures and reducing the waiting time for hip replacement. These factors are boosting segment growth, which, in turn, is propelling the market in focus during the forecast period.
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APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The rising demand for medical ceramics in APAC is due to the increasing aging population. Singapore, India, Thailand, and China are the leading markets for orthopedic surgeries, while South Korea ranks among the largest markets for dental surgeries and implants. These countries are also hotspots for medical tourism.
The demand for orthopedic implant devices in APAC is growing at a significant rate, owing to the increased focus of global key players operating in this region on introducing market-specific technologies, which are easy and affordable and provide better clinical outcomes. The market is also growing due to an increase in awareness about ortho and spinal implants and recently Asian countries have launched initiatives toward keeping the cost margin for knee and hip-related transplants.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. With the decreasing number of COVID-19 cases and the resumption of clinical procedures, the market has been witnessing growth since H1 2021. However, the regional medical ceramics market will grow during the forecast period as clinics have started to operate after the lifting of lockdown restrictions, along with the progressing vaccination drives.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by application (orthopedic, implantable devices, dental, surgical and diagnostic, and others), type (bio-inert ceramics, bio-active ceramics, bio-resorbable ceramics, and piezo-ceramics), and geography ( North America, Europe, APAC, South America, and Middle East and Africa).
Medical Ceramics Market Scope |
|
Report Coverage |
Details |
Page number |
179 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.35% |
Market growth 2023-2027 |
USD 5,280.32 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Admatec BV, BCE Special Ceramics GmbH, CAM Bioceramics BV, CeramTec GmbH, Compagnie de Saint Gobain SA, CoorsTek Inc., Elan Technology Inc., Ferro Corp., Institut Straumann AG, Koninklijke DSM NV, Kyocera Corp., Morgan Advanced Materials Plc, NGK SPARK PLUG Co. Ltd., Piezo Kinetics Inc., QSIL SE, Rauschert GmbH, Tayca Corp., Washington Mills Electro Minerals Ltd., Zimmer Biomet Holdings Inc., and 3M Co. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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