(PharmaNewsWire.Com, May 27, 2020 ) The Global Medical Ceramics Market was valued at USD 12.87 Billion in 2016 and is projected to reach USD 18.45 Billion by 2022, at a CAGR of 6.6%.
The key factors driving the growth of this market are increasing research activities for the development of novel medical ceramics, growing demand for medical ceramics in plastic surgeries and wound healing applications, rising number of hip and knee replacement procedures, and increasing demand for implantable devices.
The growing healthcare industry in emerging economies, increasing research activities in medical ceramics for nanotechnology and electronic devices applications, and increasing number of free trade agreements is an opportunity for the market to grow.
2016 – Base Year 2017 – Estimated Year 2022 – Projected Year 2017–2022 – Forecast Period
In the medical ceramics report, the market is segmented on the basis of type of material, application, and region.
On the basis of type of material
The global market is segmented into bioinert ceramics, bioactive ceramics, bioresorbable ceramics, and piezoceramics. The bioinert ceramics segment is further divided into zirconia. alumina, and others (titanium, pyrolytic carbon, and silicon nitride). The bioinert ceramics segment is expected to register the highest CAGR during the forecast period.
Bioinert ceramics exhibit high fracture toughness, low thermal conductivity, excellent resistance to wear and corrosion, and extremely high bending and tensile strength. Owing to their greater hardness as compared to other metal alloys, bioinert ceramics are widely used in the orthopedic and dental industry.
The market is segmented into dental applications, orthopedic applications, cardiovascular applications, surgical instruments, diagnostic instruments, plastic surgery, and other applications (cancer, dialysis, drug delivery systems, and gene therapy).
The plastic surgery segment is expected to register the highest CAGR during the forecast period. The high growth in this segment can be attributed to the growing number of elderly people, positive public perception towards cosmetic surgeries, and technological advancements.
Based on Region
The geographic segments in this report include North America, Europe, Asia Pacific, and the RoW. Of these, the North American segment is expected to account for the largest share of the market in 2017.
In the US, the medical ceramics market is driven by the growing demand for plastic surgeries, increase in cancer incidence, growing prevalence of cardiovascular diseases, and growing number of conferences and symposiums.
In Canada, market growth is driven by the increasing R&D activities for medical ceramics and growth in the geriatric population.
Key Players
Some of the key players in the Medical Ceramics Market are CoorsTek (US), CeramTec (Germany), Kyocera (Japan), Morgan Advance Material (UK), NGK Spark Plug (Japan), DePuy Synthes (US), Zimmer Biomet (US), Rauschert (Germany), Straumann (Switzerland), H.C. Stark (Germany), 3M (US), and DSM (Netherlands).
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