The global medical ceramics market is projected to reach USD 18.45 billion by 2022 from USD 13.38 billion in 2017, at a CAGR of 6.6%. The medical ceramics market is emerging and fragmented in nature with various regional and international players. In 2016, the medical ceramics market was dominated by a few large players and several small players. Players in this market compete with each other to deliver superior quality products that are technologically advanced and to provide well-regulated customer service functions. Major companies in this market are Kyocera (Japan), CeramTec (Germany), and 3M (US).
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Kyocera is among the leading manufacturers of advanced ceramics. Kyocera is a growth-oriented company and keeps its focus on safety, environmental performance, compliance, and ethics. Kyocera recognizes innovation as a vital company asset and remains committed to creating intellectual property, which protects and further develops its business. Kyocera is also focused on launching its products into new markets that would expand its geographical imprint and increase its consumer base. The company also invests in R&D to develop new and advanced ceramics.
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Innovation is the prime strength of these companies, on the basis of which, CeramTec has been able to expand its product portfolio, enter new markets, and build a better network for increasing its customer base. Its innovative capabilities are evident from the advanced products the company has launched in recent years, such as the Zirconium Oxide Bright Dental Ceramic, which has very high resistance to crack propagation. This product also has very high thermal expansion and is often the material of choice for joining ceramic and steel. The company has expanded into various regions to cater to the growing demand of consumers and to venture into new markets. The company has a strong presence in Europe and keenly increasing its presence in Asia Pacific. Recently, the company invested significantly in emerging economies to expand its reach in the Asia Pacific and South American regions. CeramTec adopted expansions and new technology developments as its key strategies. The company incessantly focuses on financial consolidation, higher returns on capital, and higher profitability. For instance, in March 2013, the company enhanced its production facilities of the Marktredwitz plant in Germany for advanced ceramics components.
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3M has been operating in the market for about 100 years and is engaged in developing and manufacturing a wide range of products in the infection prevention, critical and chronic care, healthcare information systems, dental, orthodontic (oral care), drug delivery systems, food safety, and medical device components categories.
Product launches, enhancements, and approvals; partnerships, collaborations, and alliances; mergers & acquisitions; and expansions were the key strategies adopted by players from 2014–2017. The players that adopted these strategies are CoorsTek (US), CeramTec (Germany), Kyocera (Japan), Morgan Advance Material (UK), NGK Spark Plug (Japan), DePuy Synthes (US), Zimmer Biomet (US), Rauschert (Germany), Straumann (Switzerland), H.C. Stark (Germany), 3M (US), and DSM (Netherlands).