BIOCERAMICS MARKET ANALYSIS

Bioceramics MarketSize and Trends

The global bioceramics market size was valued at US$ 4,187.2 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.35% from 2023 to 2030. Rising awareness among patients and medical facilities regarding benefits of bioceramics is expected to fuel market growth. In addition to the advancements in the health care industry, increasing research activities in this field is also projected to drive market growth. Bioceramics can be used in a wide array of medical applications, they are more commonly found in dentistry. Moreover, the increase in the production of bioceramics is expected to create immense market opportunities.

Global Bioceramics Market Trends:

Merger and acquisition in market is a recent trend

Key players are adopting merger and acquisition for market expansion.  For instance, in March 2022, Tata Steel Advanced Materials (TSMAL), an indirect wholly owned subsidiary of Tata Steel, has executed a share purchase cum shareholders' agreement for acquisition of 90% equity stake in bio-ceramics firm Ceramat (CPL).

Rise in income levels has facilitated the repairing of joints in the older generation

One of the major drivers for the global bioceramics market is the rising incidences of osteoarthritis and joint replacement surgeries. Bioceramics are basically used in bone cement. Hence growing number of joint replacement surgeries is expected to augment market growth.