Global Bioceramics Market overview
Market Research Future (MRFR) reports that the global market for bioceramics is set to expand at a compound annual growth rate of 8.5% during the forecast period (2017-2023). Bioceramics are a ground-breaking medical component. Their innate characteristics allows their application in several fields of medical science. Advances in surgical techniques is creating new application opportunities for bioceramics. They are being used in various types of medical procedures.
They are commonly used as bone and dental implants. The introduction of bioceramics has made a massive impact on bone and tooth replacement procedures. Such materials are also being used in respirators, kidney dialysis machines and pacemakers. The global demand for bioceramics is expected to remain strong during the forecast period. Much of the bioceramics materials currently produced is used in dental care application. Factor such as rising prevalence of osteoarthritis and increasing usage of bioceramics in dental care is expected to have a positive influence on the global bioceramics market during the assessment period. On the other hand, availability of alternatives such as medical polymers and volatility in raw material prices may somewhat undermine the market’s potential.
Global Bioceramics Market: Segmental Analysis
MRFR’s insights also include a segmental assessment of the bioceramics market analysis based on materials and application. On the basis of material, the market has been segmented into zirconia, carbon, aluminum oxide, calcium phosphate and others. Among these, the aluminium oxide segment is expected to remain highly attractive during the forecast period. In 2017, the segment held the largest share of the market. Meanwhile, the zirconia segment is projected to record the fastest growth over 2023. On the basis of application, the market has been segmented into biomedical, dental implant, orthopaedic and other. The dental segment will continue to post strong growth beyond 2018. The segment currently holds the pole position and is likely to maintain its dominance throughout the assessment period. Whereas, the orthopaedic segment is expected to post the highest CAGR by 2023.
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Global Bioceramics Market: Regional Analysis
The bioceramics market size have been covered across major reasons of the world, which include North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa (MEA). In 2017, Europe accounted for the largest share of the market. This is partly due to the presence of an established healthcare infrastructure. There is a strong demand for bioceramics in the region for dental applications as well. The geriatric population in countries such as Germany, France, United Kingdom and Italy has increased considerably. This, in turn, has led to an increase in bone replacement surgeries, dental implant and other similar procedures.
Europe is expected to remain a major consumer of bioceramics over the next couple of years, making the region a key business destination for bioceramic companies. North America and Asia Pacific (APAC) are the other two important markets for bioceramics. High healthcare expenditure and availability of a wide range of ceramic materials that are some of the factors that are supporting the growth of bioceramics market in North America. In Asia Pacific (APAC), factors such as improving healthcare infrastructure and policy reforms are reflecting favourably on the region market. Several new initiative have been taken by the local policy makers to improve the healthcare penetration in rural and remote areas. Countries such as China and India are at the forefront of such activities. Bioceramics market is expending in these countries also due to the growing consumer base.
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