Introduction to Bioceramics Market Overview
The bioceramics are the bio materials which can be used to replace any lost tissue or organ structures. Its applications in medicinal and dental functions are attributed to its rational performance and their biological inertness. They are not similar to the metals which are used in the repair or replacement of tissue or organs. They help in normal tissue formation and its bonding with the bones.
The gradual shift towards bioceramics since past few years on the basis of its biological therapies provided in various medical sectors are further expected to propel the growth of the market during the forecast period. They are bioactive materials which facilitates their functioning into cells or tissues to regenerate the parts of the body along with supporting various defects in teeth and bones, fix the fractures and replace the diseased tissues and cells.
Market Size and Forecast
The global bioceramics market is observing robust growth on account of increasing number of replacements and healing human body parts. Advances in medical sector in the past few years, growing research and developments along with growing population and rise in per capita income are projected to drive the market growth over the forecast period.
Bioceramics market is anticipated to record a CAGR of 6.9% over the forecast period i.e. 2018-2027. The bioceramics market is expected to reach a value of USD 22 billion at the end of the forecast period.
According to OCED data, Germany had 299 hip replacements and 206 knee replacements per 1,00,000 people, U.S. had 204 hip replacement and 226 knee replacement surgeries per 1,00,000 people and U.K. had 182 hip and 149 knee replacement surgeries per 1, 00,000 people during 2015. This large population urging for surgical replacements of hip and knee are expected to boost the market growth during the forecast period. CLICK TO DOWNLOAD SAMPLE
The rapid economic growth in the developing regions across the globe coupled with rising disposable income of the population are thriving the dental treatments with bioceramics which is expected to boost the market in the developing regions during the forecast period. Additionally, the increasing cavities in kids along with crowning, bridging and numerous other teeth implants are expected to drive the market significantly during the forecast period. Additionally, the rising focus on the dental care by the population across the globe is expected to escalate the demand for bioceramics in the healthcare sector during the forecast period.
Surgeries for Replacements and Repairs
The rising replacements and repair of various body parts such as hip, knee and others are expected to drive the market for the bioceramics in upcoming years. The accidents causing injuries which require surgeries for replacements and other repairs of various body parts are contributing to the growing demand for the bioceramics. Moreover, the growing population along with increasing disposable income is expected to propel the growth of the market during the forecast period.
However, the high cost associated with bioceramics in medical sector is estimated to hinder the growth of the market over the forecast period.
Our-in depth analysis of the global bioceramics market includes the following segments:
By Material Type
On the basis of regional analysis, global bioceramics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market is expected to be dominated by Europe during the forecast period owing to various healthcare developments in this region. The European countries such as Germany and U.K are expected to drive the growth of the market during the forecast period on the back of the high utilization of bioceramics in orthopedic treatments.
Asia Pacific is also expected to escalate market’s growth rate owing to various dental and orthopedic diseases in the region. Further, rising population along with growing healthcare concerns are anticipated to boost the market growth over the forecast period.
The global bioceramics market is further classified on the basis of region as follows:
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