The Bioceramics Market Is Estimated To Witness High Growth Owing To Rising Demand For Dental Implants
Market Overview:
Bioceramics are inorganic and ceramic materials used in medical applications such as dental implants, orthopedic implants, and surgical appliances. They are made from various materials like alumina, zirconia, calcium phosphate, and other carbon compounds. These materials exhibit properties like biocompatibility, bio inertness, bio conductivity, and mechanical strength which make them suitable for medical applications. Bioceramics are used to replace damaged body parts and to support new structures inside the body. They offer longevity and durability compared to other biomedical materials.
Market Dynamics:
The bioceramics market is driven by rising demand for dental implants. The dental implants segment accounted for the largest market share owing to growing awareness regarding oral health and aesthetic dentistry. According to the Centers for Disease Control and Prevention, about one-third of American adults aged 65-74 are missing all their permanent teeth. This has increased demand for tooth replacement procedures like dental implants. Furthermore, growing geriatric population and increasing incidence of dental caries and periodontal diseases have boosted adoption of dental implants. Bioceramics offer benefits like long-term stability, high biocompatibility, and resemblance to natural teeth structure which favor their use in dental implants. Moreover, increasing applications of bioceramics in orthopedic and spinal fusion procedures along with rising number of bone reconstruction surgeries are also propelling market growth. Improving healthcare infrastructure in emerging countries provides lucrative growth opportunities in the bioceramics market.
The global Bioceramics Market Share is estimated to be valued at US$ 4369.34 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Bioceramics have high biocompatibility, making them tolerable to the human body. They exhibit superior mechanical properties like strength and toughness compared to other biomaterials. Bioceramics are highly durable and last long inside the body.
Weakness: Bioceramics are typically more expensive than other biomaterials. They have rigid mechanical properties making them difficult to be formed into complex shapes. The manufacturing process of bioceramics is complex requiring high temperature sintering.
Opportunity: With an aging global population, the demand for biomedical devices is growing rapidly providing opportunities. Advancements in materials science and 3D printing technologies allow for improved processing of bioceramics. Partnerships between material scientists and medical companies facilitate new product development.
Threats: Stringent regulatory processes and clinical trial requirements increase costs and time for new product approvals. Quality certifications are essential to comply with international standards. Rising competition from alternative biomaterials threatens market share.
Key Takeaways
The global bioceramics market is expected to witness high growth, exhibiting CAGR of 4.3% over the forecast period, due to increasing demand for orthopedic and dental implants. Rising geriatric population and chronic diseases contribute to the growth of the biomedical devices industry.
North America dominates the global bioceramics market due to high healthcare expenditure and rising orthopedic procedures in the region. Asia Pacific exhibits the fastest growth due to large patient pool, low manufacturing costs and increasing medical tourism. Countries like India, China and Japan are emerging hubs for bioceramic production.
Key players operating in the bioceramics market are CoorsTek, Inc., Kyocera Corporation, Morgan Advanced Materials, CeramTec, BONESUPPORT, COLLAGEN MATRIX, BERKELEY ADVANCED BIOMATERIALS INC., and CERAMTEC. Major players are focusing on new product launches, facility expansions and partnerships to strengthen their market position. Research collaborations allow innovation in material formulations for improving biocompatibility.
Read More: https://blogger-veritas.blogspot.com/2023/11/biologics-contract-development-and.html
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