Bioceramics Market Analysis, Size, Share, Growth, Trends and Forecast 2030
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 COVID-19
bioceramics market report 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 global
bioceramics industry 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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