Global bioceramics market was estimated at over USD 12 billion as of 2014. The market is anticipated to registerconsiderable growth on account of high demand for dental implants from the orthopedics sector in countries that include Japan, China, the U.S., and Germany. Exponential boom in the medical sector is also expected to propel bioceramics market growth.
Growing access to medical centers with advancedfacilities is promoting surgical interventions, which is anticipated to propel product demand in emerging healthcare markets. Increasing dental related injuries andrespective implant procedures are also likely to drive growth over the forecast horizon.
Increasing R&D activities by major industry players such as Kyocera, coupled with growing demand from North America and Europehas led to high penetration in these developed regions. Other factors such as transitioning demographics and high demand for advanced healthcare facilities are also likely to foster industry growth.
Rising prevalence of osteoarthritis among a growing geriatricpopulationhas had a positive impact on bioceramics consumption. Increasingimplant surgeries and hip & knee joint replacements is also likely to provide lucrative opportunities to market participants.
However, alumina price volatility is anticipated to pose a restraintto the future market growth. Medical polymers are also increasingly substituting bioceramics,owing to similar inherent properties. These factors are likely to thwart new market entrants over the future period.Minimally invasive procedures, surgery cost reduction and partial joint replacements may present lucrative opportunities for industry growth.
Zirconia is anticipated to be the fastest growing segment, at a CAGR of over 6% from 2015 to 2022,which can be credited to increasing dental restorations. Alumina’s inherent biocompatibility is also expected to foster demand within this material segment over the forecast period.
Technological advancements and new product developments such as the introduction of innovative advanced materials which includecoatings composed of calcium phosphate,andalumina toughened with zirconiaare expected to boost bioceramics consumption as well.
Dental applications generated highest product demand in 2014, with the segment accounting for nearly half of the overallindustry. Dental implants are a sub-segment within this application, which is likely to boost bioceramics demand in tooth bridges& ceramic-based crowns.
Numerous experts are introducing surgical interventions for shoulder,hip, and knee implants at early stages in orthopedic treatments. The orthopedic segment is thus likely to emerge as the fastest growing application.
Other factors identified which are expected to further propel market growth include the increasing consumption of zirconium, alumina, and hydroxyapatite in dental implants. This is likely to foster reduction in wear and tear, as well as the chances of dislocation post-surgery, thus providing greater stability.
Europe bioceramics accounted for approximately 40% of global revenue in 2014. Increasing demand for ceramic-based restorations and a positive outlook towards dental care in Germany is expected to boost industry growth.
North America regional marketwas valued atapproximately USD 4.50 billion in 2014 and is projected to generate a significant market demand owing to high product demand and medical sectors’ high demand for biocompatible ceramics.
Pharmaceutical companies in Asia Pacific are also increasing their production capacities. The factorcoupled with increasing investments in R&D to present new opportunities for growth. Apart from their usage as dental & bone implants, they are being widely used in engineered bioreactors and extracorporeal circulation systems such as dialysis. This trend is to further strengthen Asia Pacific growth trajectory.
Key market participants dominating the global industry include Zimmer-Biomet Holdings and CeramTec. These two major players account for over 90% of the global sales. Another prominent company, Nobel Biocare,that specializes in manufacturing dental implants components such as bridges and crowns is quickly gaining market share.
Coorstek Medical, another prominent player in the market produced over 300 advanced materials in 2014. In August 2015, the company announced a half decade expansion plan to its capacity of ceramic hip replacement components. Such initiatives are likely to increase competition and internal rivalry within the industry.
