by Hydroxyapatite is a vital calcium phosphate mineral that forms the primary inorganic constituent of human hard tissues such as bones and teeth. Hydroxyapatite has excellent biocompatibility and bioactivity and is widely preferred as a bone graft substitute for various orthopedic and dental applications. Hydrohydroxyapatite ceramics are used as bone graft substitutes during dental surgical procedures such as bone regeneration and augmentation. These ceramics assist in bone formation and help defective bones and teeth to heal over time. Hydroxyapatite coatings are applied on metal implants to promote better integration between implants and living bones, thus improving implant fixation.
The global Hydroxyapatite Market is estimated to be valued at US$ 2 billion in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the prominent trends in the hydroxyapatite market is the increasing demand for nano hydroxyapatite. Nano hydroxyapatite has gained significant popularity as it more closely mimics the mineral content of human bones as compared to conventional hydroxyapatite. Moreover, nano hydroxyapatite exhibits better biodegradability and bioresorbability inside the human body. It helps promote osteoblast differentiation and bone mineralization. Therefore, nano hydroxyapatite is increasingly preferred for various medical applications such as bone grafts, bone fillers, bone void fillers, orthopedic applications, and dental applications. The superior properties of nano hydroxyapatite over conventional hydroxyapatite is expected to significantly drive its demand over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the hydroxyapatite market is low due to high capital requirements for R&D and manufacturing.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of substitutes.
Bargaining power of suppliers: The bargaining power of suppliers is high due to the lack of substitute raw materials and suppliers differentiate their products.
Threat of new substitutes: The threat of new substitutes is moderate as synthetic substitutes can be used for various medical applications.
Competitive rivalry: The competitive rivalry in the hydroxyapatite market is high due to the presence of major players.
Key Takeaways
The Global Hydroxyapatite Market Demand is expected to witness high growth. The market size is projected to reach US$ 2 billion by 2023, growing at a CAGR of 6.5% during the forecast period.
North America region is expected to dominate the global hydroxyapatite market during the forecast period. The hydroxyapatite market in Asia Pacific region is expected to grow at the fastest rate during the forecast period. This is attributed to factors such as growing geriatric population, orthopedic & dental disorders, rising healthcare expenditures, and growing medical tourism in the region.
Key players operating in the hydroxyapatite market are SofSera, Taihei Chemical Industrial Co, Berkeley Advanced Biomaterials, Sigma Graft, Cam Bioceramics, and Zimmer Biomet. Their focus on research & development of innovative and advanced hydroxyapatite products will aid in market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
