NEW YORK, Feb. 22, 2021 /PRNewswire/ -- Fact.MR's extensive global medical ceramics market report forecasts relatively stable growth for 2021, as the healthcare industry gradually emerges from the scourge of COVID-19. Burgeoning government investments in medical infrastructure development is poised to underpin the medical ceramics market growth in the upcoming forecast period, with projections hovering close to 6% CAGR through 2031.
As the medical industry expands prolifically, adoption of medical ceramics across a wide spectrum of application areas is witnessing a credible incline. Recent data from the World Health Organization concludes that oral diseases pose a major health burden for several countries, affecting nearly 3.5 billion people. High-income countries incur 5% of overall healthcare expenditure, and 20% of out-of-pocket expenditure. Hence, market players are specializing in dental grade medical ceramics manufacturing, thereby generate credible revenue pools.
Kyocera Corporation, for instance, manufactures the BIOCERAM AZUL, a zirconia based medical ceramic. The product offers excellent mechanical properties and long-term stability in clinical settings, consisting of a mixture of alumina and zirconia in a ratio of 8:2. In 2019, the company unveiled a new range of medical ceramics at the Ceramics Expo organized in Cleveland, US.
Additionally, manufacturers are also leveraging advanced production technologies to dole out high-quality medical ceramics. A case in point is that of Lithoz which launched the CeraFab Multi 2M30 3D Printer in December 2020. The printer is designed to produce ceramic parts for the aerospace, biomedical, energy and electronics industries respectively. A major advantage of this machine is that it is capable of printing two materials simultaneously. Deployment of such a technology across the dental care industry is expected to yield significant gains for prominent manufacturers in the forthcoming decade.
"As global healthcare expenditure surges, government initiatives to bolster provision of enhanced services is providing major traction to the global medical ceramics market, with manufacturers attempting to leverage state-of-the-art automated technologies to streamline the manufacturing process," comments a Fact.MR analyst.
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Key Takeaways from Fact.MR's Medical Ceramics Market Study
- By application, dental ceramics to hold maximum sway, with glass and aluminium based materials being extensively deployed
- Demand for bioresorbable ceramics to acquire momentum, owing to high biocompatibility and reliability
- Key technical advancements in medical surgeries to augment medical ceramics adoption in the US
- China to emerge a lucrative market for medical ceramics, attributed to enhanced manufacturing capabilities
- Increasing per capita healthcare expenditure to stimulate medical equipment sales, furthering medical ceramics growth prospects
- India to emerge as a dominant market in South Asia, driven by increasing applications across the oral care segment
- UK to experience high medical ceramics sales, on the back of a € 150 million government commitment to develop new healthcare technology
Prominent medical ceramics manufacturers as profiled in Fact.MR's report are: 3M Company, CeramTec GmbH, CoorsTek Inc., DePuy Synthes, H.C Starck GmbH, Koninklijke DSM NV, Kyocera Corporation, Morgan Advanced Materials PLC, NGK Spark Plug Co. Ltd., Rauschert GmbH & Co. KG, Straumann and Zimmer Biomet Holdings Ltd.
Product launches, acquisitions and collaborations constitute part and parcel of the aforementioned players' expansion strategies. In January 2021, CeramTec GmbH acquired Dentalpoint AG, a Swiss specialist for ceramic dental implants. This acquisition is poised to assist the company in further expanding its offering as a supplier of high performance ceramics.
Capacity expansion is yet another strategy implemented by a few players. For example, CoorsTek Inc. announced in February 2021 its intention to construct the first phase of its 400,000 square foot facility in Rayong, Thailand. This expansion marks further consolidation of the ceramics giants across Southeast Asian markets.
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More Valuable Insights on Medical Ceramics Market
In its latest report, Fact.MR offers unbiased analysis of the global medical ceramics market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of application (dental, orthopedic, cardiovascular, plastic surgery, and other applications) and type of material (bioinert, bioactive, bioresorbable, and piezoceramics), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
Key Questions Covered in the Report
- How will the global medical ceramics market grow in 2021?
- How are dentistry applications expected to pivot future market expansion prospects?
- What role does technology play in augmenting medical ceramics deployment across key application areas?
- How lucrative are the growth prospects across the US?
- Why are China and India emerging as potential medical ceramics revenue hotspots?
- How competitive is the global medical ceramics market?
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