Medical Ceramics Market Expected To Reach $12.9 Billion By 2025

2022-04-26 11:01:05 UTC | Healthcare & Pharmaceuticals
Medical Ceramics Market Expected To Reach $12.9 Billion By 2025

Increasing research activities for the development of novel medical ceramics, growing demand for medical ceramics in plastic surgeries & wound healing applications; the rising number of hip & knee replacement procedures; and the increasing demand for implantable devices are responsible for the significant growth of the market during the review period. 

According to market research report,  "Medical Ceramics Market By Material (Zirconia, Alumina, Hydroxyapatite, Glass, Bioresorbable, Bioinert, Bioactive, Piezoceramics), Application (Dental, Orthopedic, Cardiovascular, Diagnostic, Surgical Implants, Dermal Fillers) & Region - Global Forecast to 2025", The global medical ceramics market is projected to reach USD 12.9 billion by 2025 from USD 9.6 billion in 2020, growing at a CAGR of 5.9% from 2020 to 2025. 

The growing healthcare industry in emerging economies and increasing research activities in medical ceramics for nanotechnology and electronic device applications are likely to offer lucrative growth opportunities for players in the medical ceramics market. However, factors such as stringent clinical & regulatory processes and unfavorable healthcare reforms in the US are expected to restrain this markets growth.  

Moreover, issues related to reparability & recycling processes and the shortage of skilled surgeons & dental professionals are major challenges adversely impacting this markets growth. The growth of the market is also expected to slow temporarily during the forecast period due to the COVID-19 pandemic. 

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Medical implants are artificial devices that are used to replace damaged or missing biological parts. Implants help deliver medication, monitor body functions, and provide support to organs and tissues in different applications (such as dental, orthopedic, and cardiovascular). 

The medical implants market is driven by the growing healthcare needs of the senior population, advancements in medical technologies, and the rising incidence of chronic diseases, such as osteoarthritis, cardiovascular diseases, neuropathic diseases, and congenital disorders, among others.

In 2015, there were 901 million elderly individuals (aged 60 years and above) globally, and this figure is projected to grow by 56% to reach 1.4 billion by 2030 (Source: United Nations). Moreover, in the US, the population of individuals aged over 65 years is expected to double between 2005 and 2030 (Source: National Institute on Aging). Also, in Japan, 40% of the population is expected to be over 65 years by 2060 (WHO).