Bioceramics And Piezoceramics Market - Forecast(2023 - 2028)

Bioceramics And Piezoceramics Market Overview

The Bioceramics And Piezoceramics Market size is estimated to reach US$25.6 billion by 2027 and is projected to grow at a CAGR of 6.5% during the forecast period 2022-2027. Bioceramics And Piezoceramics are ceramic materials made from chemical compounds such as alumina, hydroxyapatite, lead zirconate titanate or calcium phosphate. Bioceramics And Piezoceramics have high demand in major end-users such as medical & healthcare, automotive and aerospace sectors. Factors such as the growth of the automotive sector, an increase in dental patients and the growing number of aircraft deliveries are driving the growth of the Bioceramics And Piezoceramics industry. However, the availability of ceramics substitutes in the medical field is anticipated to pose a challenge in the market growth of bioceramics, thereby negatively impacting the Bioceramics And Piezoceramics Market size. The lockdown implemented because of COVID-19 decreased the market revenue of Bioceramics And Piezoceramics since there was a significant drop in its demand from major medical & healthcare and automotive sectors. This affected the Bioceramics And Piezoceramics industry outlook. 

Bioceramics And Piezoceramics Market Report Coverage

The “Bioceramics And Piezoceramics Market Report – Forecast (2022 – 2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Bioceramics And Piezoceramics Industry.

Key Takeaways

• Asia-Pacific dominates the Bioceramics And Piezoceramics Market, owing to the rapid increase in automotive production and hip replacement surgeries in the region which continues to propel its market demand.
• High mechanical performance of Bioceramics And Piezoceramics is driving their usage in major end-use industries, thereby stimulating the market growth of such ceramics types.
• The availability of substitutes for Bioceramics And Piezoceramics can hamper their usage in the medical & healthcare sector, thereby negatively impacting the Bioceramics And Piezoceramics industry outlook during the forecast period.

Figure: Bioceramics And Piezoceramics Market Revenue Share, By Geography, 2021 (%)

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Bioceramics And Piezoceramics Market Segment Analysis – by Grade

The medical grade held the largest share in the Bioceramics And Piezoceramics Market in 2021 and is expected to grow at a CAGR of 6.4% during the forecast period 2022-2027. Medical grade Bioceramics And Piezoceramics that are made from either calcium phosphate, alumina or lead zirconate titanate, have high-temperature stability and mechanical strength. Due to such rich features, these ceramics types have high applicability in the medical & healthcare sector in dental restoration and for repairing damaged bone parts related to hip and knee. The growing number of orthopedic surgeries and rising awareness of oral care has accelerated the demand and usage of medical-grade Bioceramics And Piezoceramics which is contributing to the segment growth during the forecast period.

Bioceramics And Piezoceramics Market Segment Analysis – by End-use Industry

The medical & healthcare sector held the largest share in the Bioceramics And Piezoceramics market share in 2021 and is forecasted to grow at a CAGR of 6.8% during the forecast period 2022-2027. In the medical & healthcare sector, bioceramics and piezoceramic, due to their strong bonding nature, are used as medical implants in orthopedic surgeries. Due to the fast aging of the population and growing acute or chronic trauma cases, the number of orthopedic surgeries has increased over the years. According to a report published by the America Academy of Orthopedic Surgeons, in 2021, the number of orthopedic surgeries increased by 18.3% in comparison to 2020. Furthermore, according to Organization for Economic Co-operation and Development, in 2019, the number of hip replacement surgeries in Germany stood at 244,590, showing a 3.2% increase. With such an increase in orthopedic surgeries, the demand and usage of Bioceramics And Piezoceramics for implant applications are also anticipated to increase, thereby positively impacting the market growth in the medical & healthcare sector.

Bioceramics And Piezoceramics Market Segment Analysis – by Geography

Asia-Pacific held the largest share in the Bioceramics And Piezoceramics Market share in 2021 up to 44%. The region is witnessing an increase in orthopedic surgeries and automotive production which is fueling the demand for Bioceramics And Piezoceramics for implant, sensors and actuator applications. According to the International Organization of Motor Vehicle Manufacturers, in 2021, automotive production in China increased by 3% while India’s production increased by 30%. Furthermore, according to Organization for Economic Co-operation and Development, in 2019, the number of hip replacement surgeries in Australia stood at 43,375 which showed a 5% increase in comparison to the 2013 number. The growing automotive production and orthopedic surgeries have created a surge in the demand for Bioceramics And Piezoceramics in the Asia-Pacific region, which would positively impact the growth of the Bioceramics And Piezoceramics Market during the forecast period. 

Bioceramics And Piezoceramics Market Drivers

Bolstering Growth in Automotive Sector:

Alumina-based Bioceramics And Piezoceramics have high applicability in the automotive sector where they are used in sensors and actuators applications. Rapid urbanization, technological upgradation and growing investment are fueling automotive production. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2021, global automotive production stood at 80.1 million units showing a 3% increase in comparison to the previous year. Furthermore, according to the same data, automotive production at the regional level also witnessed significant growth. For example, in South America, production increased by 18% whereas, in Africa, it showed a 16% boost in 2021. Such bolstering growth of the automotive sector has accelerated the demand and usage of alumina-based Bioceramics And Piezoceramics for actuators and sensors applications, thereby propelling the growth of Bioceramics And Piezoceramics industry during the forecast period.

Increase in Dental Patients:

Bioceramics And Piezoceramics are made from calcium phosphate or lead zirconate titanate. They have tensile and compressive strength due to which they have major applicability in dentistry for dental implants and fillings. Growing cases of substance abuse and tooth decay have resulted in an increase in dental patients and services related to such patients. For instance, according to American Dental Association, in June 2022, dentistry services in the US increased by 1.9% on account of the growing population of dental patients. Furthermore, according to General Statistics of Northern Ireland, in 2021, the number of dental patients increased by 64% in Northern Ireland. The increase in the number of dental patients would stimulate demand and usage of Bioceramics And Piezoceramics for making dental implants, thereby positively impacting the Bioceramics And Piezoceramics industry growth.

Bioceramics And Piezoceramics Market Challenge:

Availability of Substitutes:

Bioceramics And Piezoceramics have major applicability in the medical & healthcare sector for bone replacement and dental implants. However, they have low wear and abrasion resistance. Substitutes such as titanium and polyethylene have high wear and abrasion resistance, due to which they are gaining traction in implant applications. For instance, titanium is used in hip prostheses and polyethylene in acetabular cups. The availability of such substitutes would limit the Bioceramics And Piezoceramics usage in implant applications, thereby reducing their market share in the medical & healthcare sector. That would negatively impact the Bioceramics And Piezoceramics Market size during the forecast period.

Bioceramics And Piezoceramics Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Bioceramics And Piezoceramics Market. The top 10 companies in the Bioceramics And Piezoceramics Market are:

1. CoorsTek Inc.
2. CeramTech GmbH
3. Kyocera Corporation
4. Morgan Advance Material
5. Saint-Gobain Ceramic Material
6. Depuy Synthes
7. Septodont
8. Ultradent Products.
9. CTS Corporation
10. HC Starck GmBH

Recent Developments

• In June 2022, CTS Corporation acquired Ferroperm Piezoceramics which is a manufacturer of high-performance piezoceramics components for the medical, industrial and aerospace sectors.
• In May 2022, Septodont announced a new product BioRoot which is a Bioceramics root canal sealer that prevents unfavorable bacteria growth near teeth and increases its bioactivity.
• In March 2022, Tata Steel acquired a 90% stake in Bioceramics manufacturer - Ceramat. Such an acquisition would enable the company to enter the medical field and provide Bioceramics-based medical instruments.

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