Wellesley, Mass., Aug. 14, 2017 (GLOBE NEWSWIRE) --
An improving healthcare infrastructure and rising healthcare spending are driving the global market for bioceramics, according to a new BCC Research report. In particular, the markets for biomaterials used in immunology, oncology, dermatology, and wound care demonstrate excellent potential for growth due to advances in stem cell technologies and their use in regenerative medicine.
The global bioceramics market should reach nearly $14.5 billion and $20.2 billion in 2016 and 2021, respectively, with a 6.9% CAGR, reports Bioceramics: Technologies and Global Markets. Their resistive surface and biocompatible nature make ceramic materials ideal for use in applications ranging from the implantation of artificial joints to stimulators, electronic sensors and even drug delivery instruments. Their biocompatible nature is driving research and development activities and investments focused on technologies such as injection molding, ceramic metal assembly and engineered coating.
An analysis of the market’s evolution notes that the cell- and gene-activated phase in market development should continue through the 21st Century, with developments ultimately producing a cure for arthritis, which will alleviate the need to implant metallic joint replacements and render metallic alloys obsolete. Another finding is that continued R&D will continue to focus on stronger, more adaptable biodegradable polymers for use in fracture management and bone reconstruction. Also, biomaterial implants used to treat cardiovascular conditions are expected to improve lifestyles and longevity, as structural scaffolds for vessel replacement made from biomaterials such as collagen and biodegradable polymer biomaterials, together with improved minimally invasive techniques, become the norm.
Research Highlights
- The surge in demand for dental and bone implants is expected to directly boost demand for bioinert bioceramics such as aluminum oxide and zirconium.
- Fluctuation in prices of metals and metal oxides is expected to be a long-term restraint for the bioceramics market.
- Fueled by growth in the number of fracture fixation and joint replacement surgeries, U.S. demand for orthopedic implants is projected to grow at a CAGR of more than 8% from 2016 to 2021.
“Inert metals and alloys have reached a mature stage in market evolution, although considerable R&D is happening with developing new and innovative alloys. Cell- and gene-based product developments are at the initiation stage of the market evolution. Once the technologies have been developed and proven to be effective, these products will quickly move from the initiation stage to the rapid market expansion and development stage,” says Sinha G. Gaurav, BCC Research analyst and author of the report.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.