Based on the application, the bio-ceramics and piezoceramics market is categorized into orthopedic implants, diagnostic instruments, dental implants, surgical instruments, and implantable electronic devices. During the forecast period, the dental implants is expected to contribute a major share in the market. This is attributed to the growing awareness about oral hygiene and dental implants among consumers globally. As a part of the dental care, there has been a rise in the number of dental implants made of these ceramics is increasing among consumers. These factors are attributing to the growth of the market.
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One of the major opportunity acting in the bio-ceramics and piezoceramics market is the shift in medical tourism. It is seen that people from U.S. and U.K. are travelling to countries such as Malaysia, India, and China for the health treatment. These countries offer superior health care facilities at low cost. For instance, patients come for dental implants in India due to the low cost of surgery. These implants use ceramics, thus leading to the increased demand for these products. Also, there has been increasing awareness towards oral and health hygiene. These factors are expected to create growth opportunities for the industry players.
One of the challenge for the bio-ceramics and piezoceramics market is stringent clinical and regulatory process for the use and development of the product. It is seen that the development of the devices using the ceramics is a time consuming and expensive process. Additionally, the medical devices which are implanted inside the body needs to be clinically tested. These factors are acting as a restraint in the growth of the market.
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On the basis of geography, the market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA). APAC region is contributing a major share in the bio-ceramics and piezoceramics market. This is attributed to growing use of the product in dental implants, orthopedic implants, and surgical and diagnostic instruments in countries such as Korea, China, India, and Japan. Additionally, these products are used in the electronics industry also. Countries such as China, Japan and South Korea have developed state of the art electronics manufacturing facilities, in which, these ceramics are extensively used for manufacturing of semiconductor and electronics components.
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