bioceramics market Demand, Growth, Opportunities, Challenges, Strategies Analysis and Forecast 2030
Bioceramics are ceramic materials developed to be used in dental and medical implants. The compatibility of bioceramics to gel with human organs or muscles makes it a viable product. The large number of surgeries which require transplants can induce the need for bioceramics. The valuation of the global bioceramics market had reached USD 12.5 BN in 2020, which is expected to further appreciate at 8.5% CAGR during the assessment period (2021-2030).
Market Scope
The global bioceramics market is expected to touch a value of USD 19 billion by 2030. It stood at USD 12.5 billion in 2020. The growing dental sector globally is the major driver of the market. Large number of dental clinics, dentists, and the large population requiring oral consultation can bode well for the market growth. The large geriatric pool in Asia Pacific as well as the need for implant procedures can bolster the market demand. Possible treatment methods for cancer is expected to drive the demand for bioceramics.
High prevalence of osteoarthritis and increasing use of ceramic materials in dental applications can fuel the market growth. Better access to advanced facilities, surgical intervention to solve complicated medical diseases, and the rising disposable income levels are factors expected to drive the market. Rising research and development in Europe and North America in ceramics and medical advancements can provide a stellar growth rate to the global bioceramics market. Minimally invasive procedures and reduced prices of surgeries can be lucrative for the market in the coming years.
But availability of medical polymers and fluctuations in raw material prices can hamper the global bioceramics market growth.
Segmentation
The global bioceramics market is segmented by material and application.
By material, it is segmented into carbon, zirconia, calcium phosphate, aluminum oxide, and others. The aluminum oxide segment held the largest market share in 2020. It can continue to dominate the forecast period. However, zirconia is expected to register the fastest growth rate during the assessment period.
By application, it is segmented into biomedical, orthopedic, dental implants, and others. Dental implants will dominate the global bioceramics market till 2030, but the orthopedic segment can exhibit a stellar growth rate during the forecast period.
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Regional Analysis
Europe, Asia Pacific (APAC), North America, and Rest-of-the-World (RoW) are regions covered in the global bioceramics market report.
Europe accounted for the largest market share in 2020 due to a large and established healthcare ecosystem. The large geriatric populace in Italy, United Kingdom, France, and Germany will serve as a consumer base. Large number of surgeries and implant procedures and the massive dental applications can boost the global bioceramics market demand till 2030.
North America and APAC are two major regions have huge potential for the global bioceramics market. High number of bioceramic material and large allocation of healthcare expenditure can drive the North America market. On the other hand, APAC is driven by the improving healthcare infrastructure, rise in medical tourism, and new reforms. Initiatives by governments to introduce patient-friendly prices for implants to increase penetration in rural and remote regions can be lucrative for the market growth.
Competitive Outlook
Morgan Advanced Materials, Sagemax Bioceramics Inc, Amedica Corporation, Royal DSM, Collagen Matrix Inc., Carborundum Universal Ltd, DOCERAM Medical Ceramics GmbH, Nobel Biocare Services AG, Dentsply Sirona, CAM Bioceramics B.V., and CeramTec are prominent players of the global bioceramics market.
Industry News
The International Space Station has decided to upgrade its facility using bioceramics. Relying on additive printing and bioceramic materials, the Space Station has developed ceramic manifolds which are meant to replace polymer manifolds. They were found to be highly compatible with larger components and further research is being conducted on integration of the said components.
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