Medical Ceramics Market Expected to Reach $29.4 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Medical Ceramics Market," The medical ceramics market was valued at $17.5 billion in 2020, and is estimated to reach $29.4 billion by 2030, growing at a CAGR of 5.3% from 2021 to 2030.

Medical-grade ceramic is a material widely used in applications such as the development of prosthetics, implants, and medical tools & devices. Medical ceramics are used to repair or replace musculoskeletal hard connective tissues. They further have clinical applications such as orthopedic implants, dental implants, and bone screws.

The medical ceramic market growth is driven by increase in awareness of oral hygiene and aesthetics, with high acceptance of all-ceramic implants, various orthopedic and dental applications such as hips and dentures, and rise in awareness of medical ceramics. This led to increased private investment and increased manufacturing of medical ceramics for a variety of applications. It is expected to accelerate the growth of the market as the global elderly population grows. In addition, significant increase in demand for medical procedures has led to rise in demand for medical ceramics in the healthcare market. Increase in medical procedures due to surge in incidence of chronic diseases is driving the medical ceramics market growth. The Asia-Pacific medical ceramics market is projected to grow due to factors such as rise in demand for medical device outsourcing in emerging markets such as India and China, unmet medical needs, and constant improvements in infrastructure in the healthcare. In addition, the fact that Asian countries such as China are producing low-cost medical devices to meet a shortage of patients is further expected to drive the medical ceramics market.

Development of healthcare industry in advanced countries and rise in research activities for nanotechnology and electronic devices applications is further expected to provide potential opportunities for the growth of the medical ceramics market in the coming years. However, concerns regarding reparability and the recycling processes, and lack of trained surgeons & dental professionals might challenge the growth of the medical ceramics market in the near future. The presence of harmful effects posed by medical ceramics and unmet medical needs are expected to restrict the market growth.

The global medical ceramics market is segmented on the basis of type, application, and geography.

Based on type, medical ceramics are classified into bio-inert, bio-active, bio-resorbable, and piezo-ceramics. Bio-inert ceramics form bulk of the medical ceramics market and include aluminum oxide, zirconia, and carbon. Key bio-active ceramics, such as are hydroxyapatite (HAP), glass & bio-glass, and zirconia alumina composite, are used as formative materials. Based on application, the market is classified into medical implants, devices, disposables (gloves, vials, tools), and packaging. The global medical ceramics market is analyzed based on four regions, which include North America, Europe, Asia-Pacific, and LAMEA. Due to the high prevalence of dental decay, increase in injuries, and rapid adoption of medical ceramics in the medical device market, North America is expected to account for the largest market share. Asia-Pacific is estimated to be the fastest-growing regional medical ceramics market due to a large number of adults residing in the region suffering from dental avulsion, tooth decay, and gum disease, resulting in loss of teeth.

The key players operating in the global medical ceramics market are CoorsTek Inc., Zimmer Holdings Inc., Straumann, Stryker, Kyocera Corporation, H.C. Starck GmbH, 3M ESPE, Nobel Biocare Services AG, Morgan Advanced Materials, and DePuy Synthes. Other prominent players in the value chain include, Advanced Ceramics Research, Inc., Advanced Monolythic Ceramics, Inc., Advanced Industrial Ceramics, APC International Ltd, AVX Corporation, CeramTec GmbH, and Advanced Cerametrics Inc. are competing for a share of the market through product launches, joint ventures, partnerships, and expanding the production capabilities to meet the future demand for the medical ceramics market in the forecast period.

KEY FINDINGS OF THE STUDY

• By region, North America accounted for the largest market share in 2020.
• Depending on type, bio-inert segment held the largest market share in 2020.
• According to application, implants segment held the largest market share in 2020.

IMPACT OF COVID-19 ON THE GLOBAL MEDICAL CERAMICS MARKET

• The emerging COVID-19 had less impact on growth of the global medical ceramics market during the pandemic outbreak period.
• This impact is mostly attributed to significant disruptions in raw material transportation, unavailability of labor, and shutdown of many manufacturing industries.
• The decrease in demand for many non-essential products and shut down of manufacturing industries created a negative impact on the development of global medical ceramics market.