Medical Ceramics Market worth $3.6 billion by 2027 – at a CAGR of 6.6%
The global medical ceramics market in terms of revenue was estimated to be worth $2.6 billion in 2022 and is poised to reach $3.6 billion by 2027, growing at a CAGR of 6.6% from 2022 to 2027. The growing demand for medical ceramics in plastic surgeries and wound healing applications, the increasing demand for implantable devices, and the rising number of hip and knee replacement procedures are the major driving factors of this market.
The rising incidence of age-related disorders (such as rheumatoid arthritis, osteoarthritis, osteoporosis, and fractures) and sports injuries drives the demand for knee and hip replacement procedures worldwide. According to the WHO, osteoarthritis will be the world’s fourth-leading cause of disability by 2020.
According to the American Academy of Orthopedic Surgeons (AAOS), by 2030, ~3.5 million knee replacement procedures will be performed annually in the US. Also, by 2030, it is estimated that more than 570,000 primary total hip replacement procedures will be performed annually in the US.
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The zirconia segment accounted for the largest share of the bioinert ceramics market, by type, in 2021
By type, the global bioinert ceramics market is segmented into zirconia, alumina, and other bioinert ceramics (titanium, pyrolytic carbon, and silicon nitride). In 2021, the zirconia segment dominated the global bioinert ceramics market. The advantages of zirconia over other ceramic materials, the increasing demand for aesthetically attractive dental restorations are the major driving factors for this market.
Dental applications segment is anticipated to hold major share of the global medical ceramics market in 2021
Based on application, the global medical ceramic market is segmented into dental applications, orthopedic applications, surgical instruments, and plastic surgery. The dental applications segment accounted for the largest share of the market in 2021. This segments large share can be attributed to the increasing number of cosmetic dental procedures and dental implant procedures across various regions and rising periodontal disorders.
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