Medical Ceramics Market to be Worth $29.93 Billion by 2030
Added: (Fri Jan 05 2024)
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Meticulous Research®—leading global market research company, published a research report titled, ‘Medical Ceramics Market by Type (Bioinert [Alumina, Zirconia, Carbon], Biocompatible [Hydroxyapatite, Glass Ceramics, Gypsum, Calcium Carbonate], Piezoelectric), Application (Cardiac, Dental, Imaging, Orthopedic, Pharmaceutical) - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the medical ceramics market is projected to reach $29.93 billion by 2030, at a CAGR of 6.2% during the forecast period 2023–2030. The growth of the medical ceramics market is driven by the growing utilization of active implantable devices, the rising adoption of ceramics in drug delivery, and the high acceptance of ceramics in dental and orthopedic implants. Additionally, advancements in ceramics and emerging economies are expected to provide growth opportunities for the players operating in this market.
The medical ceramics market is segmented by Type [Bioinert (Alumina, Zirconia, Carbon), Biocompatible (Bioactive {Hydroxyapatite, Bioactive Glass, Glass Ceramics}, Bioresorbable {Gypsum, Calcium Carbonate, Carbonate, Carbonate Apatite}), Piezoelectric], Application [Orthopedic, Dental, Pharmaceutical, Surgical Instruments, Imaging, and Other Applications], and Geography. The study also evaluates industry competitors and analyzes the market at the global and regional levels.
Based on type, the medical ceramics market is segmented into bioinert, biocompatible, and piezoelectric. In 2023, the bioinert segment is expected to account for the largest share of the medical ceramics market. This segment's large share is attributed to the high adoption of bioinert ceramics in orthopedic and dental implants due to the increasing prevalence of dental disorders, musculoskeletal disorders, and injuries. Bioinert ceramics such as zirconia and alumina are highly resistant to wear and do not interact with tissues in the body. This increases implant lifespan, making bioinert ceramics the preferred choice for implant manufacturing.
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Based on application, the medical ceramics market is segmented into orthopedic, dental, pharmaceutical, medical devices, imaging, and other applications. The orthopedic segment is expected to record the highest CAGR during the forecast period. Several factors are driving the growth of this segment, including the growing prevalence of musculoskeletal disorders, the high incidence of bone injuries, and the growing adoption of technologies such as 3D printing for orthopedic implant manufacturing. According to the World Health Organization, as of 2022, around 1.7 billion people suffered from musculoskeletal conditions globally. Musculoskeletal conditions frequently require bone substitution and total joint replacement surgeries.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, the U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America, and the Middle East & Africa.
In 2023, North America is expected to account for the largest share of the medical ceramics market, followed by Europe and Asia-Pacific. Furthermore, in 2023, the U.S. is expected to be the largest market in North America. The advancements in ceramics, the rising adoption of dental and orthopedic implants, technological advances in wearable sensors, and the growing focus on microfluidics expenditure contribute to the large market share of the U.S.
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Key Players
The key players operating in the medical ceramics market are 3M Company (U.S.), De Puy Synthes (U.S.), CoorsTek, Inc. (U.S.), CeramTec GmbH (Germany), KYOCERA Corporation (U.S.), Institut Straumann AG (Switzerland), Morgan Advanced Materials (U.K.), APC International, Ltd. (U.S.), Materion Corporation (U.S.), and Elan Technology (U.S.).
Key questions answered in the report:
Which are the high-growth market segments in terms of type, material, application, and region/country?
What was the historical market size for medical ceramics across the globe?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, challenges, opportunities, and trends in the global medical ceramics market?
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Who are the major players in the global medical ceramics market?
How is the competitive landscape, and who are the market leaders in the global medical ceramics market?
What are the recent developments in the medical ceramics market?
What are the strategies adopted by major players in the medical ceramics market?
What are the geographical trends, and which are the high-growth regions/countries?
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