Allied Market Research published a report, titled, “Medical Ceramics Market by Application (Devices, Implant, Disposables, Packaging), by Type (Bioinert, Bioactive, Bioresorbable, Piezo Ceramics): Global Opportunity Analysis and Industry Forecast, 2020-2030”. According to the report, the global medical ceramics industry generated $17.5 billion in 2020, and is anticipated to generate $29.4 billion by 2030, witnessing a CAGR of 5.3% from 2021 to 2030.
Prime determinants of growth
Increase in demand for medical ceramics from the healthcare industry, increase in awareness of oral hygiene and aesthetics, and several government initiatives for R&D activities drive the growth of the global medical ceramics market. However, volatility in prices of medical ceramics due to varying mining outputs and trade sentiments hinder the market growth. Contrarily, sharp rise in global population and increase in geriatric population is driving the sales of medical devices and implants, which presents new opportunities in the coming years.
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Covid-19 Scenario
- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global medical ceramics market, owing certain factors such as unavailability of skilled labor, supply chain disruptions, and closure of production hubs.
- Increase in the demand for pharmaceuticals, on the other hand, has created an opportunity for manufacturers to expand the market.
The implant segment to maintain its leadership status throughout the forecast period
Based on application, the implant segment held the highest market share in 2020, accounting for more than two-thirds of the global medical ceramics market, and is estimated to maintain its leadership status throughout the forecast period. Rise in aging population and increase in prevalence of chronic diseases are acting as driving factors for the segment. However, the disposables segment is projected to manifest the highest CAGR of 6.4% from 2021 to 2030, owing to huge production of many types of disposable devices.
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The bioinert segment to maintain its lead position during the forecast period
Based on type, the bioinert segment accounted for the largest share in 2020, contributing to more than two-fifths of the global medical ceramics market, and is projected to maintain its lead position during the forecast period. This is due to its wide usage in the orthopedic & dental industry. However, the piezo ceramics segment is expected to portray the largest CAGR of 6.4% from 2021 to 2030, owing to the presence of an array of applications.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global medical ceramics market. This is attributed to the high prevalence of dental decay, increasing injuries, and the rapid adoption of medical ceramics. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.2% during the forecast period. The presence of huge population and increasing awareness of the advantages of medical ceramics among the individuals are major factors for the demand of medical ceramics in this region.
Leading Market Players
- 3M ESPE
- CoorsTek Inc
- DePuy Synthes
- H.C. Starck GmbH
- Kyocera Corporation
- Morgan Advanced Materials
- Nobel Biocare Services AG
- Straumann
- Stryker
- Zimmer Biomet
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