The global bio-ceramic market was valued at USD 131.2 million in 2018 and is expected to reach USD 307.40 million by 2026, with an anticipated CAGR of 11.23% during the forecast period, 2019–2026.
Bio-ceramic are ceramic materials that are biocompatible. They are important subset of biomaterials and used in different types of medical procedures. They are typically used as rigid material in surgical implants though some product are flexible. These are materials used for medical applications, primarily for implants in orthopedics, maxillofacial surgery and for dental implants. Also, it is used for the repair and reconstruction of diseased or damaged parts of muscular- skeletal system and also used for replacing hard tissues in the body like teeth and bone. Growing prevalence of osteoarthritis among increasing geriatric population around the world is expected to drive the growth of bio-ceramics market over coming years. The orthopedic sector is expected to witness a growth due to increasing surgical intervention trends for shoulder, knee and hip transplant at early stage.
Products are used for aligning fractures, repair fractures, reconstruct arthritic or fractured joints, correct chronic spinal curvature, replacing missing extremities, replacing diseased damaged or loosened teeth or provide post from stress application required to change deformities. These advanced ceramics have various properties, such as high biocompatibility, wear resistance, and thrombo resistance, which makes them highly suitable for medical applications, like bone implants. Joint replacements are commonly coated with products materials, to reduce wear and inflammatory response. Due to increase in population and also growing need to maintain the healthy lifestyle coupled with introduction of new low-cost preventive care measure has led to the utilization of medical devices, which is expected to increase the expansion of the industry.
One of the major opportunities in growth in bio-ceramic market is growing medical tourism. Some of countries like Malaysia, India, and China provide low cost for health treatment. People from countries like US and UK travel to these countries for seeking treatment as they provide superior health facilities at low cost. For instance, patients travel to India for dental treatment due to low cost surgery. These implants use ceramics, hence leading to the growth of bio-ceramic market.
Global Bio-ceramic market is segmented based on material and application.
Based on material, bio-ceramic market is segmented as Bio-inert ceramics, bio-active ceramics, bio-resorbable ceramics, and piezo ceramics.
Based on applications, bio-ceramic market is segmented as dental implants, orthopedic implants, surgical instruments, diagnostics instruments, implantable electronic devices, and others. The orthopedic sectors is expected to witness significant growth, due to increasing surgical intervention trend for shoulder, knee, and hip implants, at an early stage. The growing aging population has led to rising incidence of osteoarthritis, which is expected to increase the consumption of bio-ceramic for knee and hip joint replacements and implants. Growing medical sectors on account of ongoing advancement in medical technology and service is expected to increase growth in coming years.
Geographically, global bio-ceramic market is segmented based on North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
North America is likely to be the fastest growing region for bio-ceramic market owing to the increasing healthcare spending.
The European market is mainly driven by the demand for dental applications in some of countries like Germany, United Kingdom, Italy and France. The demand for healthcare in the region is expected to boost due to some factors like aging population and the increasing prevalence of lifestyle related chronic diseases, which will also increase the growth of the market.
In Asia Pacific, there is increase in medical tourism due to countries like Malaysia, India, and China provide the superior facilities with low cost which is leading to upsurge the demand for bio-ceramics market. Increasing investment in research and development activities by pharmaceutical companies in Asia Pacific is expected to create immense bio-ceramic market potential over the forecast period.
In LAMEA, the countries Saudi Arabia, UAE, Brazil, Egypt are blooming in the healthcare sectors and are expected to increase the bio-ceramic market due to growing healthcare sector.
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