LONDON, Fev. 5, 2018 /PRNewswire/ — The medical ceramics market is projected to grow at a CAGR of 6.6%.
The global medical ceramics market is projected to reach USD 18.45 billion by 2022 from an estimated value of USD 13.38 billion in 2017, at a CAGR of 6.6%. The key factors driving the growth of this market are increasing research activities for the development of novel medical ceramics, growing demand for medical ceramics in plastic surgeries and wound healing applications, rising number of hip and knee replacement procedures, and increasing demand for implantable devices. However, factors such as stringent clinical and regulatory processes and unfavorable healthcare reforms in the US are expected to restrain the growth of this market.
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The bioinert ceramics segment is projected to grow at the highest CAGR during the forecast period.
On the basis of type of material, the global medical ceramics market is segmented into bioinert ceramics, bioactive ceramics, bioresorbable ceramics, and piezoceramics. The bioinert ceramics segment is expected to grow at the highest rate during the forecast period. Bioinert ceramics exhibit high fracture toughness, low thermal conductivity, excellent resistance to wear and corrosion, and extremely high bending and tensile strength. Owing to their greater hardness as compared to other metal alloys, bioinert ceramics are widely used in the orthopedic and dental industry.
The plastic surgery segment is projected to grow at the highest CAGR during the forecast period.
Based on application, the medical ceramics market is segmented into dental applications, orthopedic applications, cardiovascular applications, surgical instruments, diagnostic instruments, plastic surgery, and other applications (cancer, dialysis, drug delivery systems, and gene therapy). The plastic surgery segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the growing number of elderly people, positive public perception towards cosmetic surgeries, and technological advancements.
Asia Pacific to witness the highest growth during the forecast period.
Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2017–2022. Factors such as Japan’s growing healthcare industry, the lucrative medical devices industry in China, favorable tax policy in China, growing aging population in China and India, rising number of cosmetic and plastic surgeries in India, high incidence of CVD in India, and rising volume of hip and knee replacement procedures in Australia are driving the growth of the medical ceramics market in the APAC region.
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