USD 2.65 billion
Report ID:
SQMIG35B2188 |
Region:
Global |
Published Date: October, 2024
Pages:
219
|Tables:
66
|Figures:
74
Global Medical Ceramics Market size was valued at USD 2.5 billion in 2022 and is poised to grow from USD 2.67 billion in 2023 to USD 4.48 billion by 2031, growing at a CAGR of 6.70% during the forecast period (2024-2031).
Rapidly increasing demand for dental and orthopedic implants around the world is projected to primarily drive up the demand for medical ceramics going forward. Surging demand for bioavailable materials in the healthcare industry and growing awareness regarding the properties of medical ceramics such as excellent strength, wear resistance, and chemical stability are slated to bolster medical ceramics market growth in the long run. Advancements in 3D printing technologies and growing use of the same for manufacturing complex medical ceramic structure and products are slated to help create new opportunities for medical ceramics companies in the future. Surging incidence of chronic diseases is also expected to benefit the sales of medical ceramics as the demand for better and advanced medical devices increases in the future. Surging use of medical ceramics to manufacture surgical tools and medical devices will also boost the revenue for all medical ceramics suppliers in the long run. On the contrary, risk of fracture and brittle nature of ceramics, limited availability of raw materials, and high competition from alternative materials are estimated to be key constraints for market development across the study period and beyond.
Global Market Size
USD 2.65 billion
Largest Segment
Bioinert Ceramics
Fastest Growth
Bioinert Ceramics
Growth Rate
6.60% CAGR
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Global Medical Ceramics Market is segmented by Material Type, Application, and Region. Based on Material Type, the market is segmented into Bioinert Ceramics, Bioactive Ceramics, Bioresorbable Ceramics. Based on Application, the market is segmented into Dental Applications, Orthopedic Applications, Cardiovascular Implant, Surgical Instruments, Diagnostic Instruments, Plastic Surgery, Other Applications. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Application
Orthopedic applications are estimated to bring in the most revenue for all medical ceramics providers going forward. Growing incidence of osteoporosis and rising cases of trauma and injuries due to accidents are projected to bolster the demand for orthopedic implants made from medical ceramics in the future. The rising number of orthopedic implant procedures and surgeries being performed around the world are also expected to help this segment maintain its high medical ceramics market share going forward. Increasing geriatric population and rising need for hip and knee joint replacements among people are also expected to help this segment maintain its dominance across the study period.
Meanwhile, the demand for medical ceramics for dental applications is slated to rise at an impressive pace in the future. Growing emphasis on oral and dental care coupled with an increasing number of aesthetic dentistry procedures being performed around the world are expected to generate new opportunities for medical ceramics providers going forward. Increasing spending on cosmetic dentistry and the rising need for dental implants are also slated to uplift the sales of medical ceramics in the long run. The fine texture, biocompatibility, and high durability are some top benefits of medical ceramics that are making them a mainstay in the global medical ceramics market forecast.
Analysis by Material Type
Bioinert ceramics are projected to account for a substantial chunk of the global medical ceramics market share going forward. Unique inert and mechanical properties of bioinert ceramics ensure minimal interaction with the surrounding ecosystem thereby making it a preferred choice for medical devices and implants. High durability and compatibility of bioinert ceramics for a wide variety of medical devices and products are also estimated to aid the dominance of this segment in the long run. Advancements in medical technologies and rising preference for bioinert materials will also help this segment maintain its dominance across the forecast period and beyond.
On the other hand, the demand for bioresorbable ceramics is estimated to emerge as the fastest-expanding segment in the global medical ceramics industry going forward. Increasing demand for minimally invasive procedures and growing emphasis on reducing long-term complications in surgeries are projected to uplift the sales of products and implants made from bioresorbable ceramics in the long run. Growing investments in the research and development of novel bioresorbable materials will also present new opportunities for medical ceramics providers via this segment going forward. Orthopedic implants are slated to utilize bioresorbable materials the most in the long run.
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North America secures the top spot when it comes to global medical ceramics demand. The presence of a developed healthcare infrastructure, increasing demand for medical implants, and an increasing number of aged people in this region are slated to help this region maintain its dominance. The high healthcare spending of people in the United States and growing number of cosmetic dentistry procedures being performed are making it the most opportune market in the North American region. Canada is also expected to drive up the sales of medical ceramics in the future. High investments in medical research and development also support the dominant medical ceramics market share of North America through 2031.
The Asia-Pacific region is slated to emerge as the fastest growing market for medical ceramics companies in the world. Rapidly expanding population, high investments in healthcare infrastructure development, and increasing number of implantation procedures being performed are slated to help generate new opportunities for medical ceramics providers going forward. Japan is slated to drive up the sales of medical ceramics owing to the presence of a massive senescent population base in this country. Meanwhile, the demand for medical ceramics in China and India is expected to shine bright as spending on healthcare and demand for implants rises.
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Drivers
High Demand for Orthopedic and Dental Implants
Growing Demand for Surgical Tools and Medical Devices
Restraints
Brittleness and Risk of Fracture
Limited Availability of Raw Materials
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Medical ceramics manufacturers should focus on reducing their manufacturing costs to improve their sales potential. Use of 3D printing technologies will also help medical ceramics companies boost their business scope in the future. Countries with high medical device and product manufacturing activity will provide lucrative opportunities for medical ceramics providers through 2031 and beyond. Launching new products with better properties will be a major medical ceramics market trend for all companies.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the growing demand for medical implants and advanced medical devices is projected to drive medical ceramics market growth in the future. On the contrary, the risk of fracture due to brittleness and limited availability of raw materials are slated to impede sales of medical ceramics in the long run. North America is estimated to remain the top market for medical ceramics providers owing to high healthcare expenditure and rising number of implant procedures being performed in this region. Development of bioactive ceramics and use of medical ceramics in biomedical sensors is estimated to create new business scope for medical ceramics companies across the study period and beyond.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 2.5 billion |
Market size value in 2031 | USD 4.48 billion |
Growth Rate | 6.70% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Medical Ceramics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Ceramics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Ceramics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Ceramics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35B2188
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