Description :
Medical ceramics are materials that are used for wide range of biomedical applications such as medical devices , implants , disposables , and packaging . The high demand for implants propel the growth of the medical ceramics in the healthcare industry . Although , the market is highly competitive it is partly consolidated with market participants scattered across geographies . Stryker Corp ., Zimmer Holdings , Inc ., Kycera Corp ., Nobel Biocare Services AG and H . C Starck GmbH are the major players in this market . The market dominance of these companies is characterized by their large product portfolio of medical ceramics , strong distribution network , and robust annual growth over the past three years . The world for medical ceramics reported a revenue of $ 3,850 million in 2015 and is expected to grow with an estimated CAGR of 6.2 % during the forecast period accounting for $ 5,841 million by 2022 .
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The world medical ceramics market based on application is categorized into devices , implants , disposables , and packaging . Further , the devices market is segmented into surgical instruments , diagnostic equipment , and others . The implants segment is further divided into orthopedic , electronic , and dental implants . The implants segment reported the maximum share of two-thirds of the market as compared to other segments in 2015 . In the same year , it accounted for revenue of $ 2,751 million and is estimated to grow at a steady pace during the forecast period . The devices is estimated reported to be the fastest growing segment as compared to other segments .
The regulatory landscape of the world medical ceramics market is highly complex . New technologies can gain approval and enter the market only after successful completion of clinical trials . Most medical implants fall under the class III and class II category of medical devices ; trials cannot be conducted for them without Investigational Device Exemption approvals from the FDA . The IDE approval from the FDA was thought to be the most common cause of delays in the device development process . However , nowadays , the process of securing an IDE approval from the FDA has been expedited . In addition , the procedure is more transparent and the outcome is more predictable . As a result , it is easier for companies to begin trials for their innovative technologies with lesser hurdles . The companies that have received the IDE approval in 2016 include Caisson Interventional for Caisson Transcatheter Mitral Valve Replacement ( TMVR ) System , Terumo for Thoraflex Hybrid , and J & J for MemoryGel Ultra High Profile Breast Implants .
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KEY MARKET BENEFITS : This report provides an extensive analysis of the current and emerging market trends and dynamics in the world medical ceramics market .
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