The bioceramics market is expected to grow at a CAGR of around 7% during the forecast period. The major factors driving the growth of market studied are the growing demand from biocompatible materials, increase in ageing population leading to increase in spinal, and ortho-biological surgeries, increasing usage in dental care, and increasing usage for replacing diseased hard tissues of the body.
New York, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bioceramics Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05989438/?utm_source=GNW
On the flipside, stringent clinical and regulatory processes is hampering the growth of the studied market.
- Orthopedics segment dominated the market and is likely to grow during the forecast period, with growing income of population, and patient inclination towards curing health problems, including the aging population facing joint problems.
- The possible usage as treatment for cancer, and development of new methods to produce customized nano-ceramics are likely to provide opportunities for the studied market during the forecast period.
- Europe dominated the market across the globe, where the growth of the studied market is driven by the growing demand for dental application, and increasing lifestyle-related chronic diseases are further driving the demand for bioceramics market in the region.
Key Market Trends
Orthopedics Segment to Dominate the Market Demand
- Orthopedics segment dominates the demand for bioceramics across the globe, owing to its importance in replacing and repairing hip joints, knees, and other bones.
- Owing to its anti-microbial properties, resistance to acid and base solution, change in pH value, as well as high temperature, bioceramics are widely popular for use in orthopedic applications.
- With growth in aging population, majorly in countries, such as Japan, Italy, Germany, Sweden, Finland, Portugal, and others, joint & bone related health problems have increased among the population.
- Thus, technological advancement and growing income-levels of the population has made it possible for such aged population to replace & repair joints through surgery to facilitate comfort. This has been increasing the demand for bioceramics for orthopedic applications.
- Besides, cases of chronic diseases and accidents leading to fractures are also increasing the demand for bioceramics for medical industry.
- Thus, such trends are further expected to continue driving the demand for bioceramics for orthopedic applications during the forecast period.
Europe to Dominate the Market
- Europe accounts for more than 40% of the global demand for bioceramics. Countries such as Italy, Germany, Portugal, Finland, Greece, Sweden, France, Denmark, and others, are among the countries with high elderly population.
- With the growing age, the medical assistance need is increasing healthcare spending in such countries.
- The demand for bioceramics in such countries is driven by the growing treatments related to dental, bone, and other lifestyle-related chronic diseases.
- Besides Europe, North America stands to be the fastest growing market for bioceramics owing to increasing healthcare spending at a noticeable rate, with increased health concerns among the population.
- Moreover, Europe and North American market stand to be the leaders in the manufacturing of bioceramics used for hard tissue replacements. Companies in these regions are also engaged in continuous research and development activities in the field of healthcare, including research related to heart tissue replacement technologies and methods.
- All such factors are expected to drive the demand for bioceramics market during the forecast period.
The bioceramics market is a consolidated market, where few players account for significant share of the market demand. Some of the major players in the market include CoorsTek Inc., Kyocera Corp., CeramTec, Morgan Advanced Materials, and Nobel Biocare, amongst others.
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