PUBLISHER: The Business Research Company | PRODUCT CODE: 1270544
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270544
“Medical Ceramics Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on medical ceramics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for medical ceramics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The medical ceramics market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the medical ceramics market are 3M Company, CeramTec GmbH, CoorsTek Inc., Kyocera Corporation, Morgan Advanced Materials Plc., Rauschert GmbH & Co. KG, Straumann Group, Zimmer Biomet Holdings Inc., Admatec BV, BCE Special Ceramics GmbH, Elan Technology, Koninklijke DSM NV, Tosoh Corporation, PI Ceramic GmbH, Noritake Co. Limited, and Royal DSM.
The global medical ceramics market is expected to grow from $16.75 billion in 2022 to $17.73 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical ceramics market is expected to grow to $21.90 billion in 2027 at a CAGR of 5.4%.
The medical ceramics market consists of sales of bioceramics that are designed to repair or reconstruct the damaged parts of human bodies. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The medical ceramics refers to bioceramics that are used in the healthcare industry for a variety of applications, including dental materials and artificial bones and joints. A family of materials called bioceramics is utilized to replace or repair broken bone tissues. Depending on the use, medical ceramics can directly interact with the tissue in the area, either promoting tissue growth or, in the case of bioactive ceramics, triggering fresh tissue regeneration.
North America was the largest region in the medical ceramics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical ceramics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of medical ceramics are bioinert, bioactive, bioresorbable, and piezo ceramics. Bioinert refers to medical devices with superior chemical stability, biocompatibility, mechanical strength, corrosion restriction behavior, and wear resistance. The various application involved are dental, orthopedic, cardiovascular, plastic surgery, and other that are used by hospitals and clinics, specialty centers, and other end users.
A rising number of hip & knee replacement procedures is expected to drive the medical ceramics market going forward. Knee replacement, also known as knee arthroplasty, is a procedure that includes partially or completely replacing the diseased joint with prosthetic components. The rising number of hip & knee replacement procedures require prosthetic components made of medical ceramics. For instance, in 2022, as per the report from the Center Orthopedic & Neurosurgical Care & Research, a US-based medical group, US total knee replacement surgeries are anticipated to increase by 673% to 3.5 million procedures annually by 2030. In their lifetimes, almost half of American adults will get knee osteoarthritis in at least one knee. Women receive about 60% of all knee replacement surgeries. According to estimates by personalized Orthopedic of palm Beach in November 2021, knee replacement surgery is carried out roughly 800,000 times a year in the United States alone, and that number is rising. Therefore, the rising number of hip and knee replacement procedures is driving the growth of the medical ceramics market.
Technological advancements in medical ceramics are a key trend gaining popularity in the medical ceramics market. Major companies in the medical ceramics market are advancing technologies to gain a competitive edge in the market. For instance, in October 2022, Freudenberg Medical, LLC, a US-based company engaged in the development and production of innovative medical products launched HelixFlex high-purity thermoplastic elastomer tubing. This silicone tubing and components for bioprocessing, drug and vaccine production, filling and sampling, peristaltic pumping, lab, and medical device applications are in addition to its current line of pharmaceutical products. TPE tubing is perfect for pharmaceutical bioprocessing applications since it can be heat-sealed to existing tube lines by welding, making it feasible for fluid transfer and transport in biopharma operations to be done quickly, easily, and safely.
In March 2022, Tata Steel Limited, an India-based steel-making company acquired Ceramat Pvt Ltd for an undisclosed amount. With this acquisition, Tata group, the parent company of Tata Steel Ltd aims to be the first sector of choice in medical materials with great growth potential and the non-cyclical nature of advanced ceramics. Ceramat Pvt Ltd is an India-based company focused on advanced ceramics with healthcare.
The countries covered in the medical ceramics market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The medical ceramics market research report is one of a series of new reports from The Business Research Company that provides medical ceramics market statistics, including medical ceramics industry global market size, regional shares, competitors with medical ceramics market share, detailed medical ceramics market segments, market trends, and opportunities, and any further data you may need to thrive in the medical ceramics industry. This medical ceramics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.