High Demand from Emerging Economies to Boost Bioceramics Market
Growing demand for bioceramics in dental and orthopedic applications is driving the growth of the market, particularly in emerging economies.
The global bioceramics market is expected to grow at a compound annual growth rate (CAGR) of more than 6% from 2017-2021, according to a market study from Technavio. Bioceramics are biocompatible because of properties such as wear resistance and light weight, which make them suitable for various applications involving the repair and replacement of diseased and damaged parts of the musculoskeletal system. Growing demand for bioceramics in dental and orthopedic applications is driving the growth of the market, particularly in emerging economies.
The global bioceramics market for dental applications will grow at a fast pace during the forecast period, due to increasing demand for ceramic-based crowns and bridges in most dental applications. Bioceramic bridges and crowns closely resemble the original teeth crowns, thereby attracting customers to choose these materials for dental implants. Bioceramics are also used to fabricate inlays and onlays for all parts of the jaw.
“The lack of adequate nutrition in diet and changing food habits among the youth have led to increase in dental caries and damage to the overall teeth health,” said Ajay Adikhari, a lead analyst at Technavio for biochemicals and biomaterials research. “These problems have, in turn, increased the demand for dental crowns, bridges, and bristles, leading to an increase in demand for bioceramics.”
The global bioceramics market for orthopedic applications is anticipated to grow steadily during the forecast period, due to the expanding geriatric population base and increasing occurrences of osteoarthritis. The number of people undergoing joint replacement surgery, such as total knee and hip replacement, is increasing.
“The growing demand for knee, shoulder, and hip implants will fuel the market’s growth over the next five years,” said Ajay. “Other factors augmenting the growth of the global bioceramics market for orthopedic applications are increasing instances of work-related musculoskeletal disorders and increasing awareness of minimally invasive procedures. Minimally invasive techniques and partial joint replacements are expected to attract new opportunities for the market during the forecast period.”
The growth of the global bioceramics market will also find opportunities in cardiovascular applications, drug delivery systems, and tissue engineering. Technological advances, increasing demand for biologics, the prevalence of chronic diseases, and new product launches are some of the major factors that will drive the growth of the global bioceramics market in the drug delivery system market during the forecast period. In addition, the development of biomimetic composites and methods to produce customized nanoceramics are contributing to a continuous increase in the demand for bioceramics.
For more information, visit www.technavio.com.