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Hydroxyapatite Market Expected to Reach $3.65 Billion by 2027

 
2022
Hydroxyapatite Market

Report Code : A04744

quote The global hydroxyapatite market is heading towards an expansion phase. This is mainly attributed to a significant surge in demand for bone transplants and bone grafting material. As the quality healthcare services are increasing in developed as well as in emerging economies, customers are inclined toward aesthetic and dental surgeries.In addition, growing population of elderly people in the countries, such as the U.S. and Canada, further fuel the demand for orthopedic implants; there, boosting the market growth. The presence of large number of hydroxyapatite manufacturers and suppliers has positioned North America as a lucrative region for the global hydroxyapatite market growth.” quote

Eswara Prasad
Manager, Chemical and Material at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Hydroxyapatite Market By Type, and Application:  Opportunity Analysis and Industry Forecast, 2020–2027”,the global Hydroxyapatite market was valued at $2.46 billion in 2019, and is projected to reach $3.65 billion by 2027, growing at a CAGR of 5.1% from 2020 to 2027.

Hydroxyapatite is a naturally occurring mineral form of calcium apatite, which consists of one phosphate and one hydroxyl groups. Hydroxyapatite coatings in orthopedic implants and dental care products offer enhanced properties including increased gap healing between bone and hydroxyapatite, faster bone healing at the bone-implant interface, and corrosion inhibition. Thus, manufacturers are replacing conventional titanium plasma spray coating by nano-hydroxyapatite coatings.

The growth of the global hydroxyapatite materials market is driven by increase in demand for bone transplants and bone grafting material. Furthermore, rise in disposable income in emerging nations and developed countries led to growth in cosmetics products, such as anti-aging and skin care products; thereby, boosting the hydroxyapatite market share. Moreover, introduction of new healthcare services in North America and European countries is anticipated to fuel the growth of the hydroxyapatite market size. Countries in North America and Europe are spending 11-15% of their GDP in healthcare and research institutes. Furthermore, advancements in product quality led to superior dental and orthopedic implants. However, high cost of hydroxyapatite implant and several complications involved in the implant are expected to hamper the market growth. Conversely, development of low-cost hydroxyapatite implants, such as synthetic hydroxyapatite implants, attracts new customer segments in North American countries; thereby, providing lucrative opportunities for market growth.

The hydroxyapatite market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into nano-sized, micro-sized, and greater than micrometers. The nano-sized segment accounted for a significant market share in 2019, owing to its application in orthopedic implants. Nano-sized particles are often preferred over micro-sized particles due to better cell growth and inhibition of cell apoptosis. Based on application, the market is segmented into orthopedic, dental care, plastic surgery, and others. The orthopedic segment is expected to witness significant growth, owing to wide application as filler material in clinical orthopedics for spacing or filling bone defects. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2019, North America dominated the market; however, Asia-Pacific is expected to grow at a significant CAGR during the forecast period. 

The key players operating in the hydroxyapatite market are Fluidinova, Sofsera, Berkeley Advanced Biomaterials, Taihei Chemical Industrial Co. Ltd., Cam Bioceramics, Zimmer Biomet, Aps Materials, Cg Bio Inc, and Granulab (M) Sdn Bhd. These players adopted several strategies such as new product launch, agreement, acquisition, partnership, and expansion to sustain the intense competition in the market.

Key Findings Of The Study

  • The plastic surgery segment is projected to grow at the highest CAGR of approximately 5.6%, in terms of revenue, during the forecast period

  • By type of hydroxyapatite, the nano-sized segment is anticipated to grow with a CAGR 5.5%, in terms of revenue, during the forecast period

  • North America dominated the market with highest revenue shares in 2019

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quote Hydroxyapatite Market by Type (Nano-sized, Micro-sized, andGreater than Micrometer) and Application (Orthopedic, Dental Care, Plastic Surgery, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

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