LONDON, May 3, 2016 /PRNewswire/ -- "The growing implantable devices and the healthcare industry in emerging countries are driving the market for medical ceramics"
The market size for medical ceramics is projected to reach USD 16.3 billion by 2020, registering a CAGR of 6.4% between 2015 and 2020. Increasing demand from the implantable devices for surgical methods is the major driver for the medical ceramics market. The global healthcare industry is expected to rise with the growing demand from various applications such as surgical implants and orthopedic surgeries. With some major economies, such as the U.S., India, China, Germany, Italy, and France, the market is expected to grow further. Dental and orthopedic implants are the major applications of medical ceramics due to increase in the demand from countries like China, India, Indonesia, and Brazil. Moreover, medical ceramics are also used in therapeutic treatment of cancer and related diseases and in dialysis due to their high bio-compatibility. Asia-Pacific is the fastest-growing market for medical ceramics.
Dental Implants, the largest application for medical ceramics
Dental implants are the largest application of medical ceramics worldwide. Alumina, titanium, and zirconia are the major materials used for this application. As ceramics are characterized with high mechanical strength, excellent biocompatibility, tribological properties, and dimensional stability, these are ideal materials preferred for dental implants application. The use of medical ceramics is growing significantly with the development of more advanced and specialized ceramics, as they are much more compatible and versatile than initially used bio-metals. Furthermore, the dental implants application is expected to boost further with the increasing awareness of dental care & oral hygiene, from developed to developing economies. The growth of the dental implants market is attributed to the rising urban population and increasing consumer incomes all across the globe.
Asia-Pacific: the fastest-growing market for medical ceramics
Asia-Pacific is the fastest-growing region for the medical ceramics market, during the projected period. The high growth is due to the rising end-use applications such as dental implants, orthopedic implants, surgical & diagnostic instruments, implantable electronic devices, and others. The rapidly growing demand in end-use applications, competitive manufacturing costs, and high economic growth rate are the favorable forces for growth of medical ceramics market in this region. China and India are among the fastest-growing economies in the world. The factors driving the growth of the market in Asia-Pacific include Japan's growing medical industry, rising cosmetic & plastic surgeries in India, growing number of cardiovascular diseases, rate of increasing aging population in China than in other countries in Asia-Pacific, rising cases of hip & knee replacement procedures in Indonesia, and increasing research activities in Malaysia.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided in three categories: by company type, designation, and region.
- By Company Type- Tier 1- 35%, Tier 2- 45%, and Tier 3- 20%
- By Managers- 35%, Research & Consultants- 25%, and Others- 40%
- By Region- North America- 45%,Asia-Pacific- 30%, Europe- 20%, and RoW- 5%
The report also includes company profiles and competitive strategies adopted by the major market players such as CoorsTek Inc. (U.S.), CeramTec GmbH (Germany), Kyocera Corporation (Japan), and Morgan Advanced Materials (U.K.).
Reasons to buy the report:
- To understand the global, regional, and national scenarios
- To understand the market trends and dynamics along with key factors affecting it
- To identify the present and upcoming market opportunities
- To identify the potential markets in various regions for medical ceramics
- To track the recent developments in the medical ceramics market
- To understand the competitive background of the industry and positioning of participants in the market
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