Medical Ceramics Market Stand Out As The Biggest Contributor In Healthcare

The global medical ceramics market is estimated to be valued at US$ 3,835.7 million in 2017 and is expected to witness a CAGR of 6.1% over the forecast period (2017–2025).

Rising number of medical procedures involving dental implants, orthopedic implants, and others is one of the major factors driving growth of this market. According to the European Commission, 2015, around 800,000 hip procedures were carried out every year in Europe, costing around US$ 1.5 billion. The market growth is also driven by development of novel product varieties with higher mechanical strengths and flexibility. Due to their excellent frictional properties, technical ceramics are gaining popularity in endo-prosthetics. Increasing trauma cases due to falls and road accidents, requires medical intervention (orthopedics), thus, augmenting the need for medical ceramics products. In 2012, according to the National Institute of Health, knee is the most commonly injured joint by adolescent athletes with an estimated 2.5 million sports-related injuries presenting to emergency departments, annually in the U.S. This number is expected to increase significantly over the forecast period.

Manufacturers are focusing on developing new ceramics to be used in various medical applications. For instance, in March 2017, CeramTec launched its newly developed dental ceramic, Zirconium Oxide Bright, at International Dental Show (IDS) in Cologne, Germany. The material combines high translucency and high strength and is suitable for all dental prostheses treatments.

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North America market accounted for the largest market share, followed by Europe in 2016. This is owing to high usage of implantable medical devices, furthermore, rise in number of osteoporotic fractures in the U.S. and presence of relatively large number of medical device manufacturers in this region is expected to be a factor for growth of the medical ceramics market in this region. For instance, according to the National Osteoporosis Foundation (NOF), over 1.3 million osteoporotic fractures occur each year in the U.S. The market in Asia Pacific and Latin America is also expected to witness substantial growth. This is owing to rise in medical tourism for dental and orthopedic procedures. According to the study by Far International, 2016, the knee replacement surgery costs around US$ 40,000, whereas the costs in Colombia is only US$ 15,000.

Some of the key players in medical ceramics market are CoorsTek Medical, H.C. Starck GmbH, Tosoh Corporation, Noritake Co., Ltd., 3M ESPE, Morgan Advanced Materials plc, Ceramtec, Pl Ceramic GmbH, Lithoz, and Kyocera Corporation.

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This release was published on openPR.