by Hydroxyapatite is an inorganic compound that is the major mineral constituent of bones and teeth. It is widely used as an alternative biomaterial for bone grafting applications in dentistry and orthopedics as it possesses similar chemistry and structure to the mineral phase of bone. Hydroxyapatite has excellent biocompatibility and promotes bone formation. It acts as an osteoconductive scaffold for new bone to grow.
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:
Rise in demand from dental and orthopaedic applications
The demand for hydroxyapatite has increased significantly from dental and orthopaedic applications owing to the rising number of bone grafting procedures worldwide. In dentistry, hydroxyapatite is increasingly used as an alternative to bone graft substitutes during dental bone augmentation procedures to restore vertical bone height or width prior to dental implant placement. In orthopaedics, it is commonly used during spinal fusion surgeries, maxillofacial reconstruction, and treatment of bone fractures. The ability of hydroxyapatite to promote new bone growth around the implanted graft material makes it suitable for various bone regeneration therapies. This has resulted in the rise in demand for hydroxyapatite from medical device manufacturers engaged in developing orthobiologics and facilitates the growth of the hydroxyapatite market during the forecast period.
SWOT Analysis
Strength: Hydroxyapatite is a major mineral constituent of bones and teeth, and has good biocompatibility and osteoconductivity. This makes it suitable for treatment of bone disorders and defects.
Weakness: The production process of hydroxyapatite is complex, which increases production costs. Substitution by other alternatives is a threat.
Opportunity: Increasing applications of hydroxyapatite in orthopedic surgery, plastic surgery and dental applications is a major opportunity. Rise in aging population and sports injuries have increased demand.
Threats: Stringent regulations associated with biomedical applications pose challenges. Competition from existing bone graft substitutes can threaten market share.
Key Takeaways
The Global Hydroxyapatite Market Size is expected to witness high growth over the forecast period due to rising incidence of bone fractures, increasing healthcare spending, dental applications, and technological advancements. 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.
Regional analysis: North America is expected to dominate the global hydroxyapatite market during the forecast period. This is attributed to rising healthcare expenditure, presence of key players, and growing demand for dental care and orthopedic procedures in the region. Asia Pacific is poised to exhibit the highest growth rate owing to growing geriatric population, rising healthcare standards, and increasing awareness about dental healthcare.
Key players: Key players operating in the hydroxyapatite market are SofSera, GeoSciences, Sigma Graft, Berkeley Advanced Biomaterials, Cam Bioceramics, Zimmer Biomet, APS Materials, and Granulab. These players focus on new product launches, partnerships, and expansions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
