ROCKVILLE, Md., Feb. 15, 2022 (GLOBE NEWSWIRE) -- Rise in application in various medical fields such as dental implants, bone implants, and kidney dialysis machines and equipment has been fuelling sales of medical ceramic products since the past decade. Despite getting battered due to the onset of COVID-19, overall market outlook remains positive for the future.
While demand for medical ceramics in X-ray tubes, hand tools, valves, femoral head implants for hip replacement, and other medical applications will become prominent over the coming years, factors such as advancements in medical devices and equipment, increase in per capita expenditure on healthcare, and increasing investments by governments and various organizations in healthcare are forecast to further raise the revenue of medical ceramic product manufacturers.
As stated in a new report by Fact.MR, the global medical ceramics market is projected to ascend at close to 6% CAGR over the forecast period of 2021 to 2031.
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How are Advancements in Medical Sector Aiding Medical Ceramic Product Manufactures?
As the medical sector is becoming more advanced, medical ceramics is gaining further momentum. Increase in governmental investments and various initiatives taken by them are further bolstering the growth of players providing medical ceramics.
For instance, the Government of the United Kingdom has committed EUR 150 million to develop new healthcare technology in the United Kingdom.
Canada has the second-largest concentration of biotech companies in the world, while its medical and biotechnology industries are highly advanced, owing to rise in expenditure on research & development (R&D) activities.
Such advancements in the medical sector are significantly aiding progress in medical ceramics, such as the advent of medical ceramic cement for joint replacement.
How are New Inventions Driving Market Growth in the United States?
The United States, being the dominating country in the North American market, is expected to remain in the spotlight for key players in this industry. Rise in cases of cardiovascular diseases and increase in inventions in the medical sector are bolstering growth in the United States.
Some medical inventions that have taken place in the U.S. in 2018 and 2019 are-
- Advent of Artificial Intelligence (AI) in healthcare
- Expanded window for acute stroke intervention
- Patient-specific products achieved with 3-D printing
- Innovation in robotic surgery
According to a report published by the Centers for Disease Control and Prevention (CDC), on 8th September, 2020, one person dies every 36 seconds in the U.S. from a cardiovascular disease, while around 655,000 Americans die from heart disease each year. This has resulted in higher rate of application of medical ceramic products, such as diagnostics devices, in this sub-sector of the medical industry.
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Market Segmentation by Category
Application
- Dental
- Orthopedic
- Cardiovascular
- Plastic Surgery
- Other Applications
Type of Material
- Bioinert
- Bioactive
- Bioresorbable
- Piezoceramics
Why are Medical Ceramics Most Sought-after in Dental Procedures?
Increase in application of various medical ceramic products such as porcelain ceramics and glass ceramics in dental treatment has been boosting the sales of manufacturers since the past decade. Medical ceramic products are extensively used in various dental treatments such as tooth crowns, restorative components, and prosthetic teeth, to name a few. As a result, players in the medical ceramics industry are focusing on launching more products for these types of applications.
Other key segments in terms of application, which are aiding the growth of suppliers in this industry are orthopedic, cardiovascular, and plastic surgery.
Competitive Landscape
Competition in the global medical ceramics market is getting fiercer by the day. As a result, key players are launching innovative products and entering into partnerships in order capture upcoming opportunities and sustain their positions. For instance,
- Johnson & Johnson Medical Devices Company launched its new range of products such as PINNACLE® Hip Solutions, BIOLOX® Delta Ceramic Heads, and others, a couple of years back.
- As announced on 4th February 2019, KYOCERA acquired 100% ownership of H.C. Starck Ceramics GmbH, a Germany-based manufacturer of advanced ceramics, in order to increase its sales footprint.
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Key Companies Profiled
- 3M Company
- CeramTec GmbH
- CoorsTek, Inc.
- DePuy Synthes
- H.C. Starck GmbH
- Koninklijke DSM NV
- Kyocera Corporation
- Morgan Advanced Materials PLC
- NGK Spark Plug Co., Ltd.
- Rauschert GmbH & Co., KG
- Straumann
- Zimmer Biomet Holdings, Inc.
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Key Takeaways from Market Study
- High requirement for bioresorbable materials likely to persist
- Rise in application in dental sector to boost growth of medical ceramic product suppliers
- Asia Pacific market to exhibit highest growth during the forecast period, with China, Japan, and India at the forefront
- The United States to take the spotlight in North America
- Germany remains dominant in the European medical ceramics market
- France, South Korea, the United Kingdom, Canada, and a few others to emerge as lucrative markets
Explore Fact.MR's Coverage on the Healthcare Domain
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Prosthetic Liners Market - The prosthetic liners market is expected to expand steadily in the short term, but with a positive outlook for the rest of the projection period. The increasing number of trauma cases, accidental cases of injuries or road accidents, government initiatives related to the product, and the emergence of novel liner materials are major driving factors of the Prosthetic liners market. These factors lead to an increase in demand for the product and aid in market growth.
Orthopedic Braces and Support System Market - An increase in demand for orthopedic braces and support systems has resulted from the rising prevalence of arthritis, spinal deformities, sciatic nerve, impaired muscle, paralysis, fracture damage, and stroke. Bulging or ruptured discs, scoliosis, stress-induced back discomfort, and scoliosis are all caused by improper and heavy lifting. Furthermore, the increased requirement to support weak limbs continues to drive sales of orthopedic braces and supports around the world.
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