Medical Ceramics Market Size to Hit USD 28.47 Billion by 2030 at 5.10% CAGR – Report by Market Research Future (MRFR)

New York, USA, June 21, 2023 (GLOBE NEWSWIRE) — Medical Ceramics Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Medical Ceramics Market Information By Type, Application, End-User, And Region – Market Forecast Till 2030”, the market is projected to grow from USD 21.12 Billion in 2023 to USD 28.47 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.10% during the forecast period (2023 – 2030).

Market Scope:

Class I devices (such as surgical instruments), class II devices (such as medical instruments), class III devices (such as implants), and class IV devices (such as pacemakers) all require pre-market authorisation for the use of medical ceramics. The Food and Drug Administration (FDA) has given its stamp of approval to a wide range of medical ceramics, as has the European Union (CE mark approval) and some parts of Asia (MHLW approval).

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Medical Ceramics Market Competitive Outlooks:

Key Companies in the Medical Ceramics market include

• Zimmer Biomet Holdings, Inc. (U.S.)
• Institut Straumann AG (Switzerland)
• 3M (US)
• DePuy Synthes (U.S.)
• Stryker (U.S.)
• 01Tek, Inc. (U.S.)
• CeramTec (Germany)
• Nobel Biocare (Switzerland)
• Kyocera Corporation (Japan)
• Rauschert Group (Germany)

Report Scope:

Medical Ceramics Market Trends:

Market Drivers

The primary growth driver in the market is the rising number of procedures involving orthopedic and dental implants. The growing need for implants in various medical settings has been a major factor in the development of this industry. There has been an increase in the number of instances requiring medical intervention (orthopedics) owing to trauma, which has led to a growth in the demand for medical ceramics such as dental screws and bridges, valves, and femoral head implants for hip replacement. And this will lead to a rise in bone-related disorders where medical ceramics are used extensively, like joint replacement, osteoporosis, and back pain, which would tremendously propel the ceramic medical industry. There may be growth in the market for medical ceramics due to its increasing application in dentistry. Because of this, the market’s CAGR is rising.

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Medical ceramics’ expanding popularity can be traced back to the demand for medical implants and other medical devices. Sales of medical implants and equipment have been on the rise thanks to the rapid rise in the world’s population and the rise in the number of people aged 65 and older. Patients and doctors are becoming more open to the idea of getting implants. Many people seek out joint reproduction medical procedures in an effort to enhance their sensual experience. These factors are expected to drive revenue growth in the medical ceramics market throughout the forecast period.

Market Restraints

Ceramics, like dental composites, are typically fragile over the long term and have a strength that depends heavily on the existence of defects. Biocompatibility is still a challenge, despite the fact that these implants can be used to replace bones, joints, and hips.

Analysis of COVID-19:

COVID-19 had a devastating impact on international trade and had an equally negative impact on individuals, businesses, financial institutions, manufacturing facilities, and infrastructure firms. The lack of available workers and the subsequent shutdown of international transportation have both hampered the growth of the medical ceramics industry. This, in turn, has had an effect on the distribution and production of a wide range of goods. The possibility for market growth presented by the spike in demand for medications during the coronavirus outbreak cannot be overstated.

Medical Ceramics Market Segmentation:

Type Insights

In 2022, roughly 65-67 percent of sales came from the Bioinert Ceramics Medical Ceramics division. Market growth can be attributed to a number of factors, including an increase in the prevalence of periodontal disease, the prevalence of joint replacement surgeries, and the prevalence of dental procedures.

Application Insights

In 2022, the dental applications sector was the most lucrative, and it is expected to maintain its lead throughout the forecast period (2022-2030). In terms of percentage of total revenue, dentistry apps dominated in the year 2021. The expansion of this market is due, in large part, to the rising need for dental restorations. Medical

Based on End Users

In terms of market share, hospitals and clinics dominated in 2022. An growth in the prevalence of joint ailments, dental concerns, and other disorders is a major factor driving market revenue in this industry. As a result of having access to state-of-the-art medical equipment and cutting-edge methods of financing, this industry is booming. In 2022, the clinic’s industry maintained its reliable contribution to the annual budget. The increase in the installation and deployment of cutting-edge dental and osteological analytical and imaging devices in clinics primarily drives the market revenue of this industry.

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Medical Ceramics Market Regional Analysis:

The North American Medical Ceramics market is projected to develop at a substantial CAGR from its 2022 valuation of USD 9.20 billion. As a result of rising rates of dental caries and trauma, as well as the quick uptake of medical ceramics in the medical devices market, this area currently holds the biggest market share. Rapid expansion of the regional market is anticipated on account of the strong demand for dental services and the sufficient supply of dental professionals in the region. Factors contributing to this region’s disproportionate share of the medical device market include high rates of usage for implantable medical devices and diagnostic imaging equipment and the existence of a relatively higher number of medical device makers in the region.

The European market for medical ceramics is sizable in comparison to the rest of the world. Possible contributing factors include an abundance of senior citizens, advancements in medical technology, and an increase in the number of persons opting for hip and knee replacements. In addition, Germany was the largest market for medical ceramics, while the United Kingdom was the fastest-growing market in Europe.

As more people in Asia and the Pacific region suffer from issues including low bone density and chronic back pain, the market for medical ceramics in these regions is expected to grow at a higher CAGR over the forecast period. In addition, China dominated the market for medical ceramics, while India led the way in expansion in the Asia-Pacific area.

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