The total revenue generated by the medical ceramics industry was USD 2,543.2 million in 2022, and will grow at a compound annual growth rate of 7.3% during the projected period, to touch USD 4,477.7 million by 2030.
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The increasing occurrence of musculoskeletal conditions, including osteoporosis, rheumatoid arthritis, osteoarthritis, fractures, sarcopenia, and sports injuries, is powering the requirement for hip and knee replacement surgeries all over the world.
According to the WHO, musculoskeletal disorders are the foremost causes of disability, with lower back pain impacting the quality of life. In all, about 1.71 billion people are living with musculoskeletal conditions.
Furthermore, as per the Centers for Disease Control and Prevention, about 25% adults, or about 58.5 million people, in the U.S. are suffering from arthritis. These continually rising numbers, have a significantly affected the demand for medical ceramics, as they are extensively used in the manufacturing of knee and hip replacements.
The dental application had the major share, about 40%, because of the growing incidence of periodontic disorders. As per the estimates of American Academy of Implant Dentistry, the people with dental implants in the U.S. were 3 million, increasing at a shocking rate of 500,000 yearly.
Hospitals dominated the medical ceramics market. As they are the preliminary contact point for most people, the requirement for in-hospital surgical treatments is rising, because of the enormous rise in the incidence of musculoskeletal conditions. Hospitals have advanced facilities, accompanied by highly skilled professionals, allowing them to offer complete care.
Moreover, hospitals will have the fastest growth, with a rate of about 8%, in the future. This is because of the upgradation of the healthcare infra by government and private players.
North America dominated the industry with over 40%, as per a report by P&S Intelligence. It will maintain its lead in the future as well, primarily because of the increasing number of dental implant procedures and the increasing count of orthopedic surgical procedures.
It has a lot to do with the increasing elderly population, that the demand for medical ceramics will continue to rise in the future.
