VALLEY COTTAGE, New York, July 18, 2018 /PRNewswire/ --
Future Market Insights delivers key insights on the global bioceramics and hydroxyapatite market in its latest report titled 'Bioceramics and Hydroxyapatite market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028.' The long-term outlook on the global bioceramics and hydroxyapatite market is expected to remain positive, recording a CAGR of 6.9% during the forecast period (2018-2028). On the basis of material type, the aluminum oxide segment is expected to remain dominant and account for nearly 45% of the global bioceramics and hydroxyapatite market. Attributed to enhanced features such as high mechanical strength and biocompatibility, which is a bio-inert ceramic and has high mechanical strength and biocompatibility and bioceramics and hydroxyapatite will remain a preferred component in the production of the orthopaedic implants. In addition, zirconia-based bioceramics are widely being used for dental implants and is foreseen to remain a lucrative segment in the global bioceramics and hydroxyapatite market.
To offer effective solutions for bone growth, healthcare institutions prefer investing in hydroxyapatite as they interact with the living tissues of the body. Growing use of hydroxyapatite in the healthcare industry has broadened the scope of market growth for the global bioceramics and hydroxyapatite market. The global bioceramics and hydroxyapatite market witnessed a Y-o-Y growth of 5.7% in 2017. By 2018-end, the global sales of bioceramics and hydroxyapatite is estimated to be valued at US$ 2,243.8 Mn. Of various regions, North America and Europe is estimated to account for a value share of approximately 60% in the global bioceramics and hydroxyapatite market by 2018 end, and it is anticipated to show moderate growth for bioceramics and hydroxyapatite from dental and orthopaedic implants and other applications.
Bioceramics are also known as medical ceramics as they are mainly used as an important component in the production of the dental and orthopedic implants. Bioceramics materials are mostly oxides, carbides or nitrides based. Preference for bioceramics continues to persist and they can be distinguished as biologically active, inert or resorbable depending on the material type. Aluminum oxide, zirconia, calcium phosphate (tricalcium phosphate, hydroxyapatite) and bioglass are witnessed to be some of the commonly used bioceramics across industries. Hydroxyapatite is a calcium phosphate bioceramic and is biologically active by nature. The natural human bone comprises 70% hydroxyapatite. Thus it has excellent biocompatibility. Hydroxyapatite also aids in the bone growth and promotes bone health. However, low mechanical strength of hydroxyapatite has constrained the application of hydroxyapatite to coat the metal implants to trick the body as the tissues will directly come in contact of bioceramics and hydroxyapatite instead of metal. Thus the implants can gain the strength of the metal and biological acceptability of bioceramics and hydroxyapatite.
Growing need for developing effective dental implants, hip, joints, and knee replacement devices are projected to fuel demand for bioceramics and hydroxyapatite over the forecast period. Production of implants per capita has further translated to an exponential market growth over the past decade.
There has been increase in percentage of ageing population which are prone to greater risk of diseases such as osteoarthritis, knee , joint and hip problems, tooth decay amongst others. Ageing population coupled with other factors such as increasing number of accidents, bad eating habits leading to tooth decay amongst others is projected to drive the demand for bioceramics and hydroxyapatite over the forecast period.
Attributed to enhanced biocompatibility, high mechanical strength, and chemical and thermal stability, bioceramics and hydroxyapatite are increasingly being used for orthopaedic and dental implants. Growing health concerns pertaining to the impact of the materials used for developing dental implants has led manufacturers to direct their investments towards utilizing titanium as an important component. However, lack of maintenance of titanium implants can result in corrosion of the implants. To offer improved patient care, the manufacturers are developing zirconia-based implants that are white colored ceramic material. These implants offer improved biocompatibility and are likely to encourage demand for bioceramics and hydroxyapatite in the healthcare industry.
Contrary to the factors boosting the market growth, availability of bioceramics and hydroxyapatite at premium prices and lack of awareness among consumers is likely to inhibit growth of the global bioceramics and hydroxyapatite market over the coming years. Also, lack of technological advancements in developing countries of Asia Pacific region there has been still been prevalence of metal-based implants which may hinder the bioceramics and hydroxyapatite market growth in the long run.
To remain in the forefront of the competitive market, leading market players are focusing on long-term partnerships with implant manufacturers, and expanding their regional footprints in the bioceramics and hydroxyapatite market. In-depth research and development have also been conducted for developing 3-D printing and artificial bones thus expanding the application area and product offerings for bioceramics and hydroxyapatite.
On the basis of material type, the aluminium oxide segment is projected to retain its dominance in the global bioceramics and hydroxyapatite market throughout the forecast period, accounting for a value share of ~45% by the end 2018.
On the basis of type, bio-inert is expected to remain a leading segment in the global bioceramics and hydroxyapatite market, recording a CAGR of 6.8% over the forecast period. However, the bio-active segment is expected to witness higher growth rate in terms of value.
On the basis of application, sales of the bioceramics and hydroxyapatite is likely to remain concentrated for the development of the orthopaedic implants. However, other applications such as dental implants and implantable electronic devices are projected to witness significant growth over the coming years in terms of consumption.
The report highlights some of the top companies operating in the global bioceramics and hydroxyapatite market, which include Morgan Technical Ceramics, CeramTec, Berkeley Advanced Biomaterials, Inc., Kyocera Corporation, Cam Bio Ceramics BV, FLUIDINOVA, Premier Biomaterials, Plasma Biotal Ltd., SofSera, Bonesupport AB, Nano Interface Technology, and Sigma Graft amongst others.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.